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Property profile & analytics
OFF-MARKET
Estimated value
$8,205,000
Warehouses
1414 Mechanical Blvd, Garner, NC 27529-2539
Entity Owned
Free & Clear
Property ID
US53-2536415
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1961
Construction
CONCRETE BLOCKS
Total area
48,205 SF
Lot
67.93 ac (2,959,031 SF)
Zoning code
HI
APN
1701.08-97-7908 0122177
UPID
US53-2536415
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
-
Duke Energy Energy Supplier
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$5.77M
Comparable Approach
Comparable
$10.34M
Blend (final)
Blend
$8.21M
Owner & transaction history
PROGRESS ENERGY CAROLINAS INC
PROGRESS ENERGY CAROLINAS INC
Zoning & alternative use
HI · Garner, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Garner submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Garner 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%
$6,245,000
6.5%
$5,765,000
7%
$5,350,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$7,170,000
Current use
Blend value · Realmo final
$8.21M
Range $7.38M – $9.03M · ±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
$170 / 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
Assessed value
$18,284,264
Assessed 2023
Previous assessed
$18,284,263
+0.0% YoY
Assessed land
$9,587,233
Assessed improvement
$8,697,031
Land market value
$9,587,233
Improvement market value
$8,697,031
Total market value
$18,284,264
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
1961
Construction
CONCRETE BLOCKS
Heating
SPACE
Cooling
NONE
Stories
1
Total area
48,205 SF
Lot
67.93 ac (2,959,031 SF)
Zoning code
HI
APN
1701.08-97-7908 0122177
UPID
US53-2536415
Jurisdiction
WAKE
Zoning & alternative use
HI · Garner, NC
Zoning HI · permitted uses
HI · Garner, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Garner. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$7.2M
WAREHOUSE, STORAGE Current
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
1961
Construction
CONCRETE BLOCKS
Heating
SPACE
Cooling
Yes
Stories
1
Lot
67.93 ac
Current owner
From public records · entity-resolved
PROGRESS ENERGY CAROLINAS INC
Entity
Free & Clear · 0 yrs held
Mailing address
PO BOX 1551, RALEIGH, NC 27602-1551
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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