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Property profile & analytics
OFF-MARKET
Estimated value
$3,830,000
Warehouses
1604 Morgan Ml Rd Monroe, NC 28110-3641
Entity Owned
3-yr Hold
Free & Clear
Property ID
US53-3451951
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
1965
Total area
39,300 SF
Lot
2.58 ac (112,254 SF)
Zoning code
G-I MONROE
APN
09-188-084
UPID
US53-3451951
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
-
Carolina Hauling Pros (CHP) Warehouse & Storage
-
Fob Warehousing & Logistics Warehouse & Storage
-
Phelps Group Law Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$4.03M
CAP Approach
CAP
$5.16M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.83M
Owner & transaction history
Morgan Mill Industrial LLC · 3 yrs held
Morgan Mill Industrial LLC
since 2023
Last sale
$3.6M
6 recorded transactions
Zoning & alternative use
G-I MONROE · Monroe, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$6.2M
+73.9%
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 Monroe submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Monroe 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
$4,040,000
ML approach
$4,030,000
CAP Approach
CAP Return
Estimation
6%
$5,585,000
6.5%
$5,155,000
7%
$4,790,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$3,580,000
Current use
AUTO REPAIR, GARAGE
$6,225,000
Change: +74% · Conversion: Easy
Blend value · Realmo final
$3.83M
Range $3.45M – $4.21M · ±10% · vs last sale $3.63M (Jun 29 2023)
Last sale anchor
$3.63M
Jun 29 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
$97 / 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
$7,331
Tax year 2023
Assessed value
$672,300
Assessed 2023
Previous assessed
$574,200
+17.1% YoY
Effective rate
1.09%
On assessed value
Assessed land
$283,500
Assessed improvement
$388,800
Land market value
$283,500
Improvement market value
$388,800
Total market value
$672,300
Applied tax rate
200.0000
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
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
1965
Heating
YES
Stories
1
Total area
39,300 SF
Lot
2.58 ac (112,254 SF)
Zoning code
G-I MONROE
APN
09-188-084
UPID
US53-3451951
Jurisdiction
UNION
Zoning & alternative use
G-I MONROE · Monroe, NC
Zoning G-I MONROE · permitted uses
G-I MONROE · Monroe, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Monroe. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$3.6M
AUTO REPAIR, GARAGE
Est. value
$6.2M
WAREHOUSE, STORAGE Current
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
1965
Heating
YES
Stories
1
Lot
2.58 ac
Current owner
From public records · entity-resolved
Morgan Mill Industrial LLC
Entity
Free & Clear · 3 yrs held
Mailing address
101 E WASHINGTON ST #400, GREENVILLE, SC 29601-4807
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 29, 2023
$3,625,000
Morgan Mill Industrial LLC
Pb Morgan Mill LLC
Special Warranty Deed
—
Mar 10, 2020
—
Pb Morgan Mill LLC
—
Deed
related
$957,500 · South St Bk
Apr 25, 2016
$394,000
Pb Morgan Mill LLC
Vanguard Pai Lung LLC
Warranty Deed
$510,000 · South State Bank
Feb 9, 2015
—
Vanguard Pai Lung LLC
Hardy Elton W & Gail S
Warranty Deed
—
Dec 19, 2014
$264,000
Elton W Hardy
Pernick Bruce
Warranty Deed
—
—
—
Pb Morgan Mill LLC
—
Loan Modification
related
$957,500 · South St 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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