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Property profile & analytics
OFF-MARKET
Estimated value
$51,015,000
Industrial properties
14556 Hwy 601us Midland, NC 28107-9245
Individually Owned
29-yr Hold
Absentee Owner
Free & Clear
Property ID
US53-1678358
Property profile
Verified
Property type
Industrial properties
Use group
HEAVY INDUSTRIAL
Year built
1997
Construction
STEEL FRAME
Total area
483,414 SF
Lot
154.89 ac (6,747,008 SF)
Zoning code
GI
APN
5543 57 8068
UPID
US53-1678358
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
by Request
CAP Approach
CAP
$49.00M
Comparable Approach
Comparable
$53.03M
Blend (final)
Blend
$51.02M
Owner & transaction history
Corning Incorporated · 29 yrs held
Corning Incorporated
since 1996
1 recorded transaction
Zoning & alternative use
GI · Midland, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$83.9M
+208.7%
Commercial (general)
$51.1M
+88.1%
Retail stores
$42.7M
+57.2%
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 Midland submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Midland 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%
$53,085,000
6.5%
$49,000,000
7%
$45,500,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$83,860,000
Change: +209% · Conversion: Difficult
COMMERCIAL (GENERAL)
$51,100,000
Change: +88% · Conversion: Difficult
RETAIL STORES
$42,715,000
Change: +57% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$39,405,000
Change: +45% · Conversion: Difficult
RESTAURANT
$35,245,000
Change: +30% · Conversion: Difficult
AUTO REPAIR, GARAGE
$33,065,000
Change: +22% · Conversion: Easy
Blend value · Realmo final
$51.02M
Range $45.91M – $56.12M · ±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
$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 2024Property tax & assessments
Tax year 2024
Tax billed
$712,360
Tax year 2024
Assessed value
$105,378,710
Assessed 2024
Previous assessed
$82,646,290
+27.5% YoY
Effective rate
0.68%
On assessed value
Assessed land
$8,617,130
Assessed improvement
$96,761,580
Land market value
$8,617,130
Improvement market value
$96,761,580
Total market value
$105,378,710
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
Industrial properties
Use group
HEAVY INDUSTRIAL
Status
Off-Market
Year built
1997
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
NONE
Buildings
27
Stories
3
Bathrooms
60
Total area
483,414 SF
Lot
154.89 ac (6,747,008 SF)
Zoning code
GI
APN
5543 57 8068
UPID
US53-1678358
Jurisdiction
CABARRUS
Zoning & alternative use
GI · Midland, NC
Zoning GI · permitted uses
GI · Midland, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Midland. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING
Est. value
$83.9M
COMMERCIAL (GENERAL)
Est. value
$51.1M
RETAIL STORES
Est. value
$42.7M
APARTMENT HOUSE (5+ UNITS)
Est. value
$39.4M
RESTAURANT
Est. value
$35.2M
AUTO REPAIR, GARAGE
Est. value
$33.1M
OFFICE BUILDING
COMMERCIAL (GENERAL)
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
RESTAURANT
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
1997
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
3
Buildings
27
Bathrooms
60
Lot
154.89 ac
Current owner
From public records · entity-resolved
Corning Incorporated
Individual
Free & Clear · 29 yrs held
Mailing address
1 RIVERFRONT PLZ, CORNING, NY 14831-0001
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
1996
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 1, 1996
$3,222,000
Corning Incorporated
—
Warranty Deed
related
—
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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