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Property profile & analytics
OFF-MARKET
Estimated value
$1,595,000
Warehouses
119 Metrolina Plz Shelby, NC 28150-7708
Entity Owned
Free & Clear
Property ID
US53-2740172
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1974
Total area
21,422 SF
Lot
5.09 ac (221,720 SF)
Zoning code
LI
APN
28763
UPID
US53-2740172
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.76M
Blend (final)
Blend
$1.60M
Owner & transaction history
Creative Basalt Corporation
Creative Basalt Corporation
since 2025
7 recorded transactions
Zoning & alternative use
LI · Shelby, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The LI light industrial district is primarily intended to accommodate limited manufacturing, warehousing, wholesaling and related commercial and service activities which have little or no adverse impact upon adjoining residential, business and industrial properties, the preservation of land for light industrial use is a major objective of the LI district, th…
Zone name
Light Industrial
General category
INDUSTRIAL
Zone area
1,564.87 ac
Source
Realmo
Top alternative use upside
Auto repair, garage
$2.6M
+132.8%
Commercial (general)
$2.3M
+106.8%
Industrial (general)
$1.7M
+47.6%
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 Shelby submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Shelby 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$1,130,000
Current use
AUTO REPAIR, GARAGE
$2,635,000
Change: +133% · Conversion: Easy
COMMERCIAL (GENERAL)
$2,340,000
Change: +107% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$1,670,000
Change: +48% · Conversion: Easy
RETAIL STORES
$1,495,000
Change: +32% · Conversion: Moderate
Blend value · Realmo final
$1.60M
Range $1.44M – $1.75M · ±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
$74 / 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
$19,071
Tax year 2024
Assessed value
$1,556,801
Assessed 2023
Previous assessed
$1,556,801
+0.0% YoY
Effective rate
1.23%
On assessed value
Assessed land
$72,685
Assessed improvement
$1,484,116
Land market value
$72,685
Improvement market value
$1,484,116
Total market value
$1,556,801
Applied tax rate
55.0000
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
1974
Heating
HEAT PUMP
Cooling
AC.PACKAGE
Buildings
3
Stories
1
Total area
21,422 SF
Lot
5.09 ac (221,720 SF)
Zoning code
LI
APN
28763
UPID
US53-2740172
Jurisdiction
CLEVELAND
Zoning & alternative use
LI · Shelby, NCZoning LI · permitted uses
LI · Shelby, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The LI light industrial district is primarily intended to accommodate limited manufacturing, warehousing, wholesaling and related commercial and service activities which have little or no adverse impact upon adjoining residential, business and industrial properties, the preservation of land for light industrial use is a major objective of the LI district, the LI district is intended to provide appropriate locations for light industrial uses in areas that are not adversely impacted by general or heavy industrial uses, other land uses allowed within the LI district should be limited to those uses that support light industrial uses, generally, retail and heavy commercial uses should be avoided in the LI district
Zone name
Light Industrial
General category
INDUSTRIAL
Zone area
1,564.87 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$1.1M
AUTO REPAIR, GARAGE
Est. value
$2.6M
COMMERCIAL (GENERAL)
Est. value
$2.3M
INDUSTRIAL (GENERAL)
Est. value
$1.7M
RETAIL STORES
Est. value
$1.5M
WAREHOUSE, STORAGE Current
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
INDUSTRIAL (GENERAL)
RETAIL STORES
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
1974
Heating
HEAT PUMP
Cooling
Yes
Stories
1
Buildings
3
Lot
5.09 ac
Current owner
From public records · entity-resolved
Creative Basalt Corporation
Entity
Free & Clear · 0 yrs held
Mailing address
119 METROLINA PLZ, SHELBY, NC 28150-7708
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 9, 2025
—
Creative Basalt Corporation
Richard S Wright
Deed
related
—
Sep 3, 2025
$700,000
Reative Basalt Corporation
Richard S Wright
Special Warranty Deed
—
Aug 17, 2020
—
Mafic USA LLC
—
Deed
related
$3,110,000 · Live Oak Banking Company
May 18, 2020
—
Mafic USA LLC
—
Deed
related
$10,000,000 · Live Oak Bkg
Dec 6, 2018
—
Mafic USA LLC
—
Deed
related
$2,000,000 · Miller & Long Co LLC
Jul 27, 2018
$152,000
Mafic USA LLC
City Of Shelby
Warranty Deed
—
Apr 24, 2007
$438,000
Lohman Investments LLC
Cornerstone Investment Grp LLC
Warranty Deed
$425,000 · First National Bank
Mar 2, 2006
$330,000
Cornerstone Investment Grp LLC
Metorlina Plastics INC
Grant Deed
—
—
—
Mafic USA LLC
—
Deed Of Trust
related
$2,000,000 · Miller & Long Co LLC
—
—
Mafic USA LLC
—
Deed Of Trust
related
$10,000,000 · Live Oak Bkg
—
—
Lohman Investments LLC
—
Deed Of Trust
related
$339,977 · Frontier Bank
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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