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Property profile & analytics
OFF-MARKET
Estimated value
$3,085,000
Warehouses
121 Fairgrove Church Rd Sea Conover, NC 28613-8173
Entity Owned
13-yr Hold
Free & Clear
Property ID
US53-2012791
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1993
Construction
METAL FRAME
Total area
68,781 SF
Lot
3.08 ac (134,165 SF)
Zoning code
M-1
APN
3722-16-84-5635
UPID
US53-2012791
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
-
SOH Distribution Co Distribution Center Logistics Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.98M
Blend (final)
Blend
$3.09M
Owner & transaction history
Arditti Acd Properties · 13 yrs held
Arditti Acd Properties
since 2012
4 recorded transactions
Zoning & alternative use
M-1 · Conover, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$4.3M
+68.1%
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 Conover submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Conover 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
$2,575,000
Current use
COMMERCIAL (GENERAL)
$4,330,000
Change: +68% · Conversion: Difficult
Blend value · Realmo final
$3.09M
Range $2.78M – $3.39M · ±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
$45 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$16,522
Tax year 2023
Assessed value
$2,082,200
Assessed 2023
Previous assessed
$2,082,200
+0.0% YoY
Effective rate
0.79%
On assessed value
Assessed land
$91,300
Assessed improvement
$1,990,900
Land market value
$91,300
Improvement market value
$1,990,900
Total market value
$2,082,200
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
1993
Construction
METAL FRAME
Heating
FORCED AIR
Cooling
NONE
Units
1
Total area
68,781 SF
Lot
3.08 ac (134,165 SF)
Zoning code
M-1
APN
3722-16-84-5635
UPID
US53-2012791
Jurisdiction
CATAWBA
Zoning & alternative use
M-1 · Conover, NC
Zoning M-1 · permitted uses
M-1 · Conover, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Conover. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$2.6M
COMMERCIAL (GENERAL)
Est. value
$4.3M
WAREHOUSE, STORAGE Current
COMMERCIAL (GENERAL)
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
1993
Construction
METAL FRAME
Heating
FORCED AIR
Cooling
Yes
Units
1
Lot
3.08 ac
Current owner
From public records · entity-resolved
Arditti Acd Properties
Entity
Free & Clear · 13 yrs held
Mailing address
1460 6TH ST CIR NW, HICKORY, NC 28601-5254
Ownership since
2012
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 11, 2026
—
Fairgrove Holdings LLC
—
Deed
related
$857,904 · Neuse Incorporated
Jan 31, 2023
—
Fairgrove Holdings LLC
—
Deed
related
$1,350,000 · Bb&t Collateral Service Corp
Aug 1, 2012
—
Arditti Acd Properties
Acd Properties LLP
Quit Claim Deed
—
Aug 1, 2012
$1,217,000
Fairgrove Holdings LLC
Clary Lllp
Warranty Deed
related
—
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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