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Property profile & analytics
OFF-MARKET
Estimated value
$6,090,000
Warehouses
114 Mackenan Dr, Cary, NC 27511-7921
Entity Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US53-0101428
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1987
Construction
BRICK
Total area
38,717 SF
Lot
5.03 ac (219,107 SF)
Zoning code
I
APN
0752.19-62-9123 0137964
UPID
US53-0101428
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Sky HVAC Air Conditioning and Heating Hardware & Home Improvement HVAC Service
-
BDS Dealer Pros Car Wash
-
Block & Associates Realty Property Management Company Homeowners' Association
-
Reunion Marketing Marketing & Advertising
-
Securus Inc Building Supply General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$4.63M
Comparable Approach
Comparable
$7.01M
Blend (final)
Blend
$6.09M
Owner & transaction history
Af5 Raleigh Light Industrial LLC · 4 yrs held
Af5 Raleigh Light Industrial LLC
since 2021
7 recorded transactions
Zoning & alternative use
I · Cary, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Cary submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Cary submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$5,015,000
6.5%
$4,630,000
7%
$4,300,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$8,795,000
Current use
Blend value · Realmo final
$6.09M
Range $5.48M – $6.70M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$157 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$71,141
Tax year 2024
Assessed value
$8,484,313
Assessed 2024
Previous assessed
$8,484,313
+0.0% YoY
Effective rate
0.84%
On assessed value
Assessed land
$1,643,303
Assessed improvement
$6,841,010
Land market value
$1,643,303
Improvement market value
$6,841,010
Total market value
$8,484,313
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1987
Construction
BRICK
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Total area
38,717 SF
Lot
5.03 ac (219,107 SF)
Zoning code
I
APN
0752.19-62-9123 0137964
UPID
US53-0101428
Jurisdiction
WAKE
Zoning & alternative use
I · Cary, NC
Zoning I · permitted uses
I · Cary, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Cary. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$8.8M
WAREHOUSE, STORAGE Current
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1987
Construction
BRICK
Heating
CENTRAL
Cooling
Yes
Stories
1
Lot
5.03 ac
Current owner
From public records · entity-resolved
Af5 Raleigh Light Industrial LLC
Entity
Mailing address
800 BRICKELL AVE STE #701, MIAMI, FL 33131-2967
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 13, 2021
$18,269,000
Af5 Raleigh Light Industrial LLC
Tdc Blue V LLC
Limited Warranty Deed
$47,255,000 · Regions Bank
Dec 3, 2020
—
Tdc Blue V LLC
—
Deed
related
$4,250,000 · Ameris Bk
Nov 17, 2016
—
Tdc Blue V LLC
Tdc Blue II LLC
Quit Claim Deed
related
$9,255,000 · Silverpeak R/e Fin
Aug 27, 2014
$9,800,000
Tdc Blue II LLC
Beacon Ventures LLC
Grant Deed
$24,025,000 · Keybank Nat'l Assn/edgewood
Jul 17, 2006
—
Beacon Ventures LLC
—
Deed Of Trust
related
$38,622,500 · Bank Of America
Nov 16, 2001
—
Hd Mackenan LLC
Phl Opco LP
Grant Deed
related
—
—
—
Tdc Blue V LLC
—
Deed Of Trust
related
$4,250,000 · Ameris Bk
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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