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Property profile & analytics
OFF-MARKET
Estimated value
$2,085,000
Warehouses
1226 Fedex SW Dr Conover, NC 28613-7426
Entity Owned
5-yr Hold
Free & Clear
Property ID
US53-1833270
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2000
Total area
41,376 SF
Lot
2.39 ac (104,108 SF)
Zoning code
B-4
APN
3721-12-97-5414
UPID
US53-1833270
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
-
Carroll Leather Industrial Manufacturer
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.37M
Blend (final)
Blend
$2.09M
Owner & transaction history
Rmg Leather USA LLC · 5 yrs held
Rmg Leather USA LLC
since 2021
6 recorded transactions
Zoning & alternative use
B-4 · Conover, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
This district provides a location for larger scale businesses and services which do not necessarily require a central location and may serve the surrounding region. These businesses and services typically locate in areas with high capacity transportation networks. Lots in the B 4 District serving a residential purpose in conformance with the Conover Code of…
Zone name
General Business
General category
COMMERCIAL
Zone area
629.69 ac
Source
Realmo
Top alternative use upside
Commercial (general)
$2.6M
+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
$1,550,000
Current use
COMMERCIAL (GENERAL)
$2,605,000
Change: +68% · Conversion: Difficult
Blend value · Realmo final
$2.09M
Range $1.88M – $2.29M · ±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
$50 / 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
$13,146
Tax year 2023
Assessed value
$1,656,700
Assessed 2023
Previous assessed
$1,656,700
+0.0% YoY
Effective rate
0.79%
On assessed value
Assessed land
$142,500
Assessed improvement
$1,514,200
Land market value
$142,500
Improvement market value
$1,514,200
Total market value
$1,656,700
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
2000
Heating
HOT WATER
Cooling
CENTRAL
Stories
1
Units
1
Total area
41,376 SF
Lot
2.39 ac (104,108 SF)
Zoning code
B-4
APN
3721-12-97-5414
UPID
US53-1833270
Jurisdiction
CATAWBA
Zoning & alternative use
B-4 · Conover, NCZoning B-4 · permitted uses
B-4 · Conover, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
This district provides a location for larger scale businesses and services which do not necessarily require a central location and may serve the surrounding region. These businesses and services typically locate in areas with high capacity transportation networks. Lots in the B 4 District serving a residential purpose in conformance with the Conover Code of Ordinances on January 1st, 2020 shall be deemed to be conforming. Permits for new residential construction in the B 4 District will not be issued after January 1st, 2020.
Zone name
General Business
General category
COMMERCIAL
Zone area
629.69 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$1.6M
COMMERCIAL (GENERAL)
Est. value
$2.6M
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
2000
Heating
HOT WATER
Cooling
Yes
Stories
1
Units
1
Lot
2.39 ac
Current owner
From public records · entity-resolved
Rmg Leather USA LLC
Entity
Free & Clear · 5 yrs held
Mailing address
1226 FEDEX DR SW, CONOVER, NC 28613-7426
Mailing matches property
Yes
Owner-occupied
Yes
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 30, 2021
—
Rmg Leather USA LLC
Carroll Companies INC
Special Warranty Deed
—
Feb 6, 2020
—
Carroll Companies INC
—
Deed
related
$498,836 · Wells Fargo Bk
Aug 15, 2007
$875,000
Carroll Companies INC
Black River Dev LLC
Warranty Deed
—
Aug 1, 2007
$875,000
Carroll Companies INC
Black River Development Ll
Grant Deed
—
—
—
Carroll Companies INC
—
Deed Of Trust
related
$498,836 · Wells Fargo Bk
—
—
Carroll Companies INC
—
Deed Of Trust
related
$920,000 · Wells Fargo 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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