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Property profile & analytics
OFF-MARKET
Estimated value
$7,000,000
Manufacturing properties
128 Papas Pl, Greenville, NC 27834-8210
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US53-1749882
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
2002
Total area
88,540 SF
Lot
20 ac (871,200 SF)
Zoning code
LI
APN
65284
UPID
US53-1749882
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
$5.79M
CAP Approach
CAP
$8.43M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$7.00M
Owner & transaction history
Gco Properties LLC · 3 yrs held
Gco Properties LLC
since 2022
Last sale
$7.6M
7 recorded transactions
Zoning & alternative use
LI · Greenville, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$7.3M
+293.9%
Commercial (general)
$7.2M
+288.4%
Apartment house (5+ units)
$6.9M
+271.3%
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 Greenville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Greenville 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
$5,595,000
ML approach
$5,785,000
CAP Approach
CAP Return
Estimation
6%
$9,125,000
6.5%
$8,425,000
7%
$7,825,000
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$7,315,000
Change: +294% · Conversion: Easy
COMMERCIAL (GENERAL)
$7,210,000
Change: +288% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$6,895,000
Change: +271% · Conversion: Difficult
RETAIL STORES
$6,860,000
Change: +270% · Conversion: Moderate
OFFICE BUILDING
$6,750,000
Change: +264% · Conversion: Difficult
RESTAURANT
$6,465,000
Change: +248% · Conversion: Difficult
Blend value · Realmo final
$7.00M
Range $6.30M – $7.70M · ±10% · vs last sale $7.60M (Dec 12 2022)
Last sale anchor
$7.60M
Dec 12 2022
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
$79 / 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
$44,440
Tax year 2023
Assessed value
$5,383,178
Assessed 2023
Previous assessed
$5,815,242
-7.4% YoY
Effective rate
0.83%
On assessed value
Assessed land
$324,000
Assessed improvement
$5,059,178
Land market value
$324,000
Improvement market value
$5,059,178
Total market value
$5,383,178
Applied tax rate
5.0000
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
2002
Heating
FORCED AIR
Cooling
NONE
Stories
1
Rooms
1
Bathrooms
40
Total area
88,540 SF
Lot
20 ac (871,200 SF)
Zoning code
LI
APN
65284
UPID
US53-1749882
Jurisdiction
PITT
Zoning & alternative use
LI · Greenville, NC
Zoning LI · permitted uses
LI · Greenville, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Greenville. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
AUTO REPAIR, GARAGE
Est. value
$7.3M
COMMERCIAL (GENERAL)
Est. value
$7.2M
APARTMENT HOUSE (5+ UNITS)
Est. value
$6.9M
RETAIL STORES
Est. value
$6.9M
OFFICE BUILDING
Est. value
$6.8M
RESTAURANT
Est. value
$6.5M
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
APARTMENT HOUSE (5+ UNITS)
RETAIL STORES
OFFICE BUILDING
RESTAURANT
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
2002
Heating
FORCED AIR
Cooling
Yes
Stories
1
Rooms
1
Bathrooms
40
Lot
20 ac
Current owner
From public records · entity-resolved
Gco Properties LLC
Entity
Mailing address
3506 NE GREENVILLE BLVD, GREENVILLE, NC 27834-3331
Ownership since
2022
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
Dec 12, 2022
$7,600,000
Gco Properties LLC
Minges Building Account LLC
Special Warranty Deed
$6,460,000 · Truist Bank
Oct 6, 2022
$753,000
Minges Bottling Group INC
Minges Building Account LLC
Warranty Deed
related
$21,000,000 · First Citizens Bank & Trust Co
Jan 30, 2019
—
Sieber LLC
—
Deed
related
$2,115,000 · Southern Bk
Jan 25, 2018
$183,000
Sieber LLC
Minges Building Account LLC
Warranty Deed
—
Jul 17, 2015
—
Minges Building Account LLC
—
Grant Deed
related
$1,830,600 · Branch Bk&tr
Sep 18, 2012
$137,000
Sieber LLC
Minges Building Account LLC
Warranty Deed
—
—
—
Sieber LLC
—
Deed Of Trust
related
$2,115,000 · Southern Bk
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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