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Property profile & analytics
OFF-MARKET
Estimated value
$8,675,000
Warehouses
1218 Gate Dr, Leland, NC 28451-9661
Individually Owned
6-yr Hold
~
Est. High Equity
Property ID
US53-3913513
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
2017
Total area
76,500 SF
Lot
1.95 ac (84,942 SF)
Zoning code
C2
APN
470002435
UPID
US53-3913513
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
$9.79M
CAP Approach
CAP
$11.92M
Comparable Approach
Comparable
$10.82M
Blend (final)
Blend
$8.68M
Owner & transaction history
Richard A Gait PLLC · 6 yrs held
Richard A Gait PLLC
since 2020
Last sale
$6.0M
7 recorded transactions
Zoning & alternative use
C2 · Leland, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$13.3M
+6.9%
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 Leland submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Leland 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
$9,955,000
ML approach
$9,785,000
CAP Approach
CAP Return
Estimation
6%
$12,915,000
6.5%
$11,920,000
7%
$11,070,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$12,415,000
Current use
AUTO REPAIR, GARAGE
$13,275,000
Change: +7% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$12,380,000
Change: 0% · Conversion: Difficult
Blend value · Realmo final
$8.68M
Range $7.81M – $9.54M · ±10% · vs last sale $6.00M (Jun 23 2020)
Last sale anchor
$6.00M
Jun 23 2020
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
$113 / 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
Property tax & assessments
Assessed value
$6,710,830
Assessed 2023
Previous assessed
$4,851,610
+38.3% YoY
Assessed land
$1,013,360
Assessed improvement
$5,697,470
Land market value
$1,013,360
Improvement market value
$5,697,470
Total market value
$6,710,830
Applied tax rate
31.0000
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
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
2017
Heating
NONE
Cooling
NONE
Total area
76,500 SF
Lot
1.95 ac (84,942 SF)
Zoning code
C2
APN
470002435
UPID
US53-3913513
Jurisdiction
BRUNSWICK
Zoning & alternative use
C2 · Leland, NC
Zoning C2 · permitted uses
C2 · Leland, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Leland. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$12.4M
AUTO REPAIR, GARAGE
Est. value
$13.3M
APARTMENT HOUSE (5+ UNITS)
Est. value
$12.4M
WAREHOUSE, STORAGE Current
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
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
2017
Heating
NONE
Cooling
Yes
Lot
1.95 ac
Current owner
From public records · entity-resolved
Richard A Gait PLLC
Individual
Mailing address
8900 WESTBEND SCHOOL CT, LEWISVILLE, NC 27023-8390
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 13, 2022
—
Cmb Leland Storage LLC
—
Deed
related
$5,350,000 · Lmf Commercial LLC
Aug 6, 2020
—
Cmb Leland Storage LLC
—
Deed
related
$2,312,500 · Bank Five Nine
Jul 20, 2020
—
Cmb Leland Storage LLC
—
Deed
related
$2,376,000 · Self-help Ventures Fnd
Jun 23, 2020
$6,000,000
Richard A Gait PLLC
Cindy York C York Law PLLC
Special Warranty Deed
$2,312,500 · Bank Five Nine
Jun 23, 2020
—
Cmb Leland Storage LLC
—
Deed
related
$2,312,500 · Bank Five Nine
—
—
Cmb Leland Storage LLC
—
Deed Of Trust
related
$2,312,500 · Bank Five Nine
—
—
Cmb Leland Storage LLC
—
Deed Of Trust
related
$2,376,000 · Self-help Ventures Fnd
—
—
Cmb Leland Storage LLC
—
Deed Of Trust
related
$2,312,500 · Bank Five Nine
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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