1180 Free Nancy Ave Statesville, NC 28677-3480
Entity Owned
21-yr Hold
~
Est. High Equity
Estimated value (blended)
$2.54M
Range $2.29M – $2.79M (±10%)
Property ID
US53-1607752
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
1991
Total area
25,700 SF
Lot
7.03 ac (306,227 SF)
Zoning code
B-4
APN
4745-53-1226.000
UPID
US53-1607752
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Storage Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.37M
Comparable Approach
Comparable
$2.44M
Blend (final)
Blend
$2.54M
Owner & transaction history
since 2004
1 recorded transaction
Zoning & alternative use
B-4 · Statesville, NC
Zoning description
districts B-4 and B-5 shall be located on the same lot as the principal structure. In B-4, B-5, LI and HI districts outdoor storage is permitted in the side and rear yards provided that the area devoted to outdoor storag…
General category
COMMERCIAL
Top alternative use upside
Retail stores
$3.9M
+153.8%
Office building
$2.6M
+68.4%
Auto repair, garage
$1.9M
+24.3%
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
All 9 comparables with addresses
5 alternative uses screened
Sensitivity value band
Source audit · 10 inputs
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Summary
1
Valuation conclusion
Included free
Estimated market value
$2.54M
Value range
$2.29M – $2.79M
±10% around blend
Estimated value / SF
$99 / SF
Confidence
High
9 county-verified comps
Property data
88
Market benchmarks
100
Comparable evidence
90
$2.29M
blend $2.54M
$2.79M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
25,700 SF
Lot area
7.03 ac
Year built
1991
Stories
1
APN
4745-53-1226.000
Assessed value
$1,399,200
Annual tax
$14,238
3
Income approach: direct capitalization
Partial preview
Income approach indication
$3.37M
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$3.66M
@ 6.5% CAP return
$3.37M
@ 7% CAP return
$3.13M
4
Sales comparison
Partial preview
Sales approach indication
$2.22M
Weighted, 9 comps · high confidence
Evidence
9 found · 6 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
14.9 mi away · 18,297 SF
15.1 mi away · 23,833 SF
15.2 mi away · 19,600 SF
18.9 mi away · 24,900 SF
18.9 mi away · 24,900 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$2.54M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 32 sales
$59
+67%
Submarket 55 sales
$81
+22%
County 113 sales
$103
-4%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $99/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Retail Stores
Gross theoretical uplift
+154%
vs current-use indication
Office Building
Auto Repair, Garage
Industrial (general)
Warehouse, Storage · current use
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Not available
Market rent
Not available
Actual rent roll
Not available
Tenant leases
Not available
Physical condition
Not inspected
Conversion costs
Not available
Not analyzed due to unavailable source data: tenant leases, physical condition and capital
requirements were not available for this desktop analysis. Cost Approach excluded due to
availability of income evidence.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 9 sales
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$1.40M
Move the market yield to see immediate price impact.
Value / SF
$54
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$88k
$1.76M
$1.26M
$979k
$98k
$1.96M
$1.40M
$1.09M
$108k
$2.15M
$1.54M
$1.20M
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
9 found
High confidence · county-verified
Closest comparable
$2.93M
14.3 mi · Dec 2025 · $113/SF
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$14,238
Tax year 2023
Assessed value
$1,399,200
Assessed 2023
Previous assessed
$749,880
+86.6% YoY
Effective rate
1.02%
On assessed value
Assessed land
$494,910
Assessed improvement
$904,290
Land market value
$494,910
Improvement market value
$904,290
Total market value
$1,399,200
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
1991
Heating
NONE
Cooling
NONE
Buildings
2
Stories
1
Units
158
Rooms
52
Bathrooms
1
Total area
25,700 SF
Lot
7.03 ac (306,227 SF)
Zoning code
B-4
APN
4745-53-1226.000
UPID
US53-1607752
Jurisdiction
IREDELL
Zoning & alternative use
B-4 · Statesville, NCZoning B-4 · permitted uses
B-4 · Statesville, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Zoning description
districts B-4 and B-5 shall be located on the same lot as the principal structure. In B-4, B-5, LI and HI districts outdoor storage is permitted in the side and rear yards provided that the area devoted to outdoor storag…
General category
COMMERCIAL
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1991
Heating
NONE
Cooling
Yes
Stories
1
Buildings
2
Units
158
Rooms
52
Bathrooms
1
Lot
7.03 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Matched to the official district catalog
B-4
COMMERCIAL
Jurisdiction
Statesville, NC
Recorded code
B-4
Official district
B-4
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for B-4 in Statesville, NC.
What opens after registration
Zoning profile
Official descriptionThe district text from the municipal code
District factsZone name, category and district area
2 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
One complete report on every paid plan · 5 · 30 · 100 reports per month.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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