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Property profile & analytics
OFF-MARKET
Estimated value
$560,000
Warehouses
181 Hwy 24th 27th W, Midland, NC 28107-7418
Entity Owned
4-yr Hold
Free & Clear
Property ID
US53-1206384
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2005
Construction
STEEL FRAME
Total area
6,000 SF
Lot
2.99 ac (130,027 SF)
Zoning code
OI
APN
5524 98 2863
UPID
US53-1206384
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
$465k
CAP Approach
CAP
$670k
Comparable Approach
Comparable
$556k
Blend (final)
Blend
$560k
Owner & transaction history
Lemons Midland Investments Llcq · 4 yrs held
Lemons Midland Investments Llcq
since 2022
Last sale
$600,000
7 recorded transactions
Zoning & alternative use
OI · Midland, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$865,000
+66.6%
Commercial (general)
$775,000
+49.8%
Retail stores
$715,000
+38.2%
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
$480,000
ML approach
$465,000
CAP Approach
CAP Return
Estimation
6%
$725,000
6.5%
$670,000
7%
$625,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$520,000
Current use
AUTO REPAIR, GARAGE
$865,000
Change: +67% · Conversion: Easy
COMMERCIAL (GENERAL)
$775,000
Change: +50% · Conversion: Difficult
RETAIL STORES
$715,000
Change: +38% · Conversion: Moderate
Blend value · Realmo final
$560k
Range $504k – $616k · ±10% · vs last sale $600k (May 6 2022)
Last sale anchor
$600k
May 6 2022
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
$93 / 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
$3,864
Tax year 2024
Assessed value
$571,600
Assessed 2024
Previous assessed
$486,500
+17.5% YoY
Effective rate
0.68%
On assessed value
Assessed land
$159,880
Assessed improvement
$411,720
Land market value
$159,880
Improvement market value
$411,720
Total market value
$571,600
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
2005
Construction
STEEL FRAME
Heating
RADIANT
Cooling
NONE
Stories
1
Bathrooms
3
Total area
6,000 SF
Lot
2.99 ac (130,027 SF)
Zoning code
OI
APN
5524 98 2863
UPID
US53-1206384
Jurisdiction
CABARRUS
Zoning & alternative use
OI · Midland, NC
Zoning OI · permitted uses
OI · 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
WAREHOUSE, STORAGE Current
Est. value
$520,000
AUTO REPAIR, GARAGE
Est. value
$865,000
COMMERCIAL (GENERAL)
Est. value
$775,000
RETAIL STORES
Est. value
$715,000
WAREHOUSE, STORAGE Current
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
RETAIL STORES
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
2005
Construction
STEEL FRAME
Heating
RADIANT
Cooling
Yes
Stories
1
Bathrooms
3
Lot
2.99 ac
Current owner
From public records · entity-resolved
Lemons Midland Investments Llcq
Entity
Free & Clear · 4 yrs held
Mailing address
6313 LK RD, MINT HILL, NC 28227-5532
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
13 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 23, 2024
—
Lemons Midland Investemts LLC
—
Deed
related
$500,000 · First Citizens Bank & Trust Co
May 6, 2022
$600,000
Lemons Midland Investments Llcq
Rwtw LLC
Special Warranty Deed
—
Jul 13, 2020
—
Rwtw LLC
—
Deed
related
$18,149 · Uwharrie Bk
Jun 26, 2019
—
Rwtw LLC
—
Deed Of Trust
related
$360,000 · Uwharrie Bk
Aug 2, 2018
—
Rwtw LLC
Service Electric & Control INC
Grant Deed
related
—
Dec 30, 2016
—
Service Electric & Control INC
—
Deed
related
$246,884 · Farmers & Merchants Nat'l Bk
Mar 9, 2012
$290,000
Service Electric & Control INC
Atlas Nc I Spe LLC
Special Warranty Deed
$278,000 · Suntrust Bank
Jul 27, 2011
$360,000
Atlas Nc I Spe LLC
David A Simpson PC
Trustees Deed
related
—
Jan 19, 2005
$181,000
Steven Scott R/e Co LLC
Purkey,dwayne D
Warranty Deed
$144,800 · Branch Banking & Trust Co
—
—
Rwtw LLC
—
Loan Modification
related
$18,149 · Uwharrie Bk
—
—
Steven Scott R/e Co LLC
—
Deed Of Trust
related
$70,000 · Branch Banking & Trust Co
—
—
Service Electric & Control INC
—
Deed Of Trust
related
$246,884 · Farmers & Merchants Nat'l Bk
—
—
Service Electric & Control INC
—
Deed Of Trust
related
$200,000 · Farmers & Merchants Nat'l 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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