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Property profile & analytics
OFF-MARKET
Estimated value
$3,520,000
Manufacturing properties
1418 Wal Pat Rd, Smithfield, NC 27577-8394
Entity Owned
2-yr Hold
Absentee Owner
Free & Clear
Property ID
US53-1626110
Property profile
Verified
Property type
Manufacturing properties
Use group
HEAVY MANUFACTURING
Year built
1960
Total area
182,406 SF
Lot
17.57 ac (765,349 SF)
Zoning code
IND
APN
15A61052A
UPID
US53-1626110
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
-
Filter Easy Shipping Warehouse Warehouse & Storage
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.60M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.60M
Blend (final)
Blend
$3.52M
Owner & transaction history
1418 Wat Pat LLC · 2 yrs held
1418 Wat Pat LLC
since 2023
Last sale
$3.4M
5 recorded transactions
Zoning & alternative use
IND · Smithfield, 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 Smithfield submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Smithfield 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
$3,610,000
ML approach
$3,600,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$5,155,000
Current use
Blend value · Realmo final
$3.52M
Range $3.17M – $3.87M · ±10% · vs last sale $3.44M (Sep 25 2023)
Last sale anchor
$3.44M
Sep 25 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
$19 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$53,435
Tax year 2024
Assessed value
$4,309,300
Assessed 2024
Previous assessed
$4,309,300
+0.0% YoY
Effective rate
1.24%
On assessed value
Assessed land
$861,180
Assessed improvement
$3,448,120
Land market value
$861,180
Improvement market value
$3,448,120
Total market value
$4,309,300
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
HEAVY MANUFACTURING
Status
Off-Market
Year built
1960
Heating
NONE
Cooling
NONE
Buildings
4
Stories
1
Total area
182,406 SF
Lot
17.57 ac (765,349 SF)
Zoning code
IND
APN
15A61052A
UPID
US53-1626110
Jurisdiction
JOHNSTON
Zoning & alternative use
IND · Smithfield, NC
Zoning IND · permitted uses
IND · Smithfield, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Smithfield. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$5.2M
INDUSTRIAL (GENERAL) 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
1960
Heating
NONE
Cooling
Yes
Stories
1
Buildings
4
Lot
17.57 ac
Current owner
From public records · entity-resolved
1418 Wat Pat LLC
Entity
Free & Clear · 2 yrs held
Mailing address
186 KOLLINOVA DR, CLAYTON, NC 27527-4272
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 25, 2023
$3,980,000
1418 Wat Pat LLC
Flanders Precisionaire Corp
Special Warranty Deed
—
Sep 25, 2023
—
1418 Wal Pat LLC
Flanders Precisionaire Corp
Quitclaim Deed
related
$2,660,000 · Cathay Bank
Jul 15, 2015
$6,067,500
Flanders Of Precisionaire Corp
Iq14-clarkton Smithfield Nc Ll
Grant Deed
—
Jun 19, 2014
$3,437,870
Iq14-clarkton Smithfield Nc Ll
Oliver Samuel T JR
Trustees Deed
—
Feb 23, 2007
—
Wal-pat II LLC
Wal-pat LLC
Quit Claim Deed
related
$11,500,000 · La Salle Fsb
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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