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Property profile & analytics
OFF-MARKET
Estimated value
$2,210,000
Flex space
125 Commerce Blvd, Statesville, NC 28625-8526
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US53-5066761
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
2000
Construction
STONE
Total area
20,840 SF
Lot
1.88 ac (81,893 SF)
Zoning code
LI
APN
4755-39-5435.000
UPID
US53-5066761
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
-
Renaissance Patio Products Building Supply Renovation Specialist
-
Lansing Building Products Hardware & Home Improvement Interior Design
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.21M
CAP Approach
CAP
$2.11M
Comparable Approach
Comparable
$2.03M
Blend (final)
Blend
$2.21M
Owner & transaction history
Statesville Commerce Blvd LLC · 3 yrs held
Statesville Commerce Blvd LLC
since 2023
Last sale
$2.2M
7 recorded transactions
Zoning & alternative use
LI · Statesville, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$3.1M
+117.5%
Office building
$2.1M
+46.5%
Warehouse, storage
$2.0M
+40.4%
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 Statesville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Statesville 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
$2,270,000
ML approach
$2,205,000
CAP Approach
CAP Return
Estimation
6%
$2,290,000
6.5%
$2,110,000
7%
$1,960,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$1,445,000
Current use
RETAIL STORES
$3,140,000
Change: +117% · Conversion: Moderate
OFFICE BUILDING
$2,115,000
Change: +47% · Conversion: Difficult
WAREHOUSE, STORAGE
$2,025,000
Change: +40% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,725,000
Change: +20% · Conversion: Easy
Blend value · Realmo final
$2.21M
Range $1.99M – $2.43M · ±10% · vs last sale $2.23M (Feb 28 2023)
Last sale anchor
$2.23M
Feb 28 2023
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
$106 / 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
$12,623
Tax year 2023
Assessed value
$1,240,470
Assessed 2023
Previous assessed
$1,060,170
+17.0% YoY
Effective rate
1.02%
On assessed value
Assessed land
$144,760
Assessed improvement
$1,095,710
Land market value
$144,760
Improvement market value
$1,095,710
Total market value
$1,240,470
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
Flex space
Use group
LIGHT INDUSTRIAL
Status
Off-Market
Year built
2000
Construction
STONE
Heating
RADIANT
Cooling
NONE
Stories
1
Bathrooms
3
Total area
20,840 SF
Lot
1.88 ac (81,893 SF)
Zoning code
LI
APN
4755-39-5435.000
UPID
US53-5066761
Jurisdiction
IREDELL
Zoning & alternative use
LI · Statesville, NC
Zoning LI · permitted uses
LI · Statesville, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Statesville. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$1.4M
RETAIL STORES
Est. value
$3.1M
OFFICE BUILDING
Est. value
$2.1M
WAREHOUSE, STORAGE
Est. value
$2.0M
AUTO REPAIR, GARAGE
Est. value
$1.7M
INDUSTRIAL (GENERAL) Current
RETAIL STORES
OFFICE BUILDING
WAREHOUSE, STORAGE
AUTO REPAIR, GARAGE
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
Construction
STONE
Heating
RADIANT
Cooling
Yes
Stories
1
Bathrooms
3
Lot
1.88 ac
Current owner
From public records · entity-resolved
Statesville Commerce Blvd LLC
Entity
Mailing address
PO BOX 6649, RICHMOND, VA 23230-0649
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 3, 2023
—
Statesville Commerce Blvd LLC
—
Deed
related
$1,175,000 · Lakeland Bank
Feb 28, 2023
$2,229,000
Statesville Commerce Blvd LLC
Lancinng Of Statesville LLC
Special Warranty Deed
—
Oct 4, 2016
—
Lansing Of Statesville LLC
—
Deed
related
$4,456,000 · Townebank
Nov 20, 2006
$1,232,500
Lansing Of Statesville LLC
Gilbert Lambert Gilbert LLC
Warranty Deed
$1,232,000 · Suntrust Bank NA
Apr 2, 2004
—
Gilbert Lambert Gilbert LLC
Lambert,john M & Betty L G
Quit Claim Deed
related
—
Mar 27, 2004
—
Gilbert Lambert Gilbert LLC
Glg Partnership
Trustees Deed
related
—
—
—
Lansing Of Statesville LLC
—
Deed Of Trust
related
$12,723,126 · Suntrust Bank NA
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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