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Property profile & analytics
OFF-MARKET
Estimated value
$14,545,000
Warehouses
1709 Airport Rd, Monroe, NC 28110-7394
Entity Owned
2-yr Hold
Free & Clear
Property ID
US53-0191620
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
1981
Total area
261,253 SF
Lot
29.51 ac (1,285,456 SF)
Zoning code
G-I MONROE
APN
09-366-007
UPID
US53-0191620
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
-
Builders FirstSource Building Supply Industrial Manufacturer
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$14.88M
Blend (final)
Blend
$14.55M
Owner & transaction history
Bfs Operations LLC · 2 yrs held
Bfs Operations LLC
since 2023
7 recorded transactions
Zoning & alternative use
G-I MONROE · Monroe, 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 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$23,800,000
Current use
Blend value · Realmo final
$14.55M
Range $13.09M – $16.00M · ±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
$56 / 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
$75,229
Tax year 2023
Assessed value
$6,898,600
Assessed 2023
Previous assessed
$6,898,600
+0.0% YoY
Effective rate
1.09%
On assessed value
Assessed land
$1,475,500
Assessed improvement
$5,423,100
Land market value
$1,475,500
Improvement market value
$5,423,100
Total market value
$6,898,600
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
1981
Heating
YES
Cooling
CENTRAL
Stories
1
Total area
261,253 SF
Lot
29.51 ac (1,285,456 SF)
Zoning code
G-I MONROE
APN
09-366-007
UPID
US53-0191620
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
$23.8M
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
1981
Heating
YES
Cooling
Yes
Stories
1
Lot
29.51 ac
Current owner
From public records · entity-resolved
Bfs Operations LLC
Entity
Free & Clear · 2 yrs held
Mailing address
4800 FLS OF NEUSE RD STE #300, RALEIGH, NC 27609-8140
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
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 7, 2023
—
Bfs Operations LLC
Island Creek Holdings LLC
Lease
—
May 12, 2010
—
Island Creek Holdings LLC
—
Deed Of Trust
related
$1,000,000 · First Bank
Nov 15, 2005
$2,800,000
Island Creek Holdings LLC
Claire & Hunt Broyhill LLC
Warranty Deed
$3,250,000 · First Bank
—
—
Island Creek Holdings LLC
—
Deed Of Trust
related
$1,000,000 · First Bank
—
—
Island Creek Holdings LLC
—
Deed Of Trust
related
$1,000,000 · First Bank
—
—
Island Creek Holdings LLC
—
Deed Of Trust
related
—
—
—
Island Creek Holdings LLC
—
Deed Of Trust
related
$1,915,518 · First Bk
—
—
Locust Lumber Co INC
—
Deed Of Trust
related
$2,028,036 · First Bank
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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