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Property profile & analytics
OFF-MARKET
Estimated value
$23,255,000
Manufacturing properties
1823 Boone Trl Rd, Sanford, NC 27330-8662
Entity Owned
17-yr Hold
Free & Clear
Property ID
US53-2633019
Property profile
Verified
Property type
Manufacturing properties
Use group
PROCESSING PLANT (CEMENT, GRAVEL)
Year built
1997
Total area
557,348 SF
Lot
33.6 ac (1,463,616 SF)
Zoning code
LIGHT INDUSTRIAL
APN
9634-42-5872-00
UPID
US53-2633019
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
-
Gildan Frontier Yarns, Inc Mill Factory
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$30.05M
Blend (final)
Blend
$23.26M
Owner & transaction history
Fro Spin LLC · 17 yrs held
Fro Spin LLC
since 2009
3 recorded transactions
Zoning & alternative use
LIGHT INDUSTRIAL · Sanford, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$37.8M
+5.8%
Auto repair, garage
$37.3M
+4.4%
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 Sanford submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Sanford 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
INDUSTRIAL (GENERAL)
$35,730,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$37,795,000
Change: +6% · Conversion: Difficult
AUTO REPAIR, GARAGE
$37,285,000
Change: +4% · Conversion: Easy
WAREHOUSE, STORAGE
$34,735,000
Change: -3% · Conversion: Easy
Blend value · Realmo final
$23.26M
Range $20.93M – $25.58M · ±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
$42 / 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
$267,405
Tax year 2024
Assessed value
$22,565,800
Assessed 2024
Previous assessed
$22,565,800
+0.0% YoY
Effective rate
1.19%
On assessed value
Assessed land
$2,427,600
Assessed improvement
$20,138,200
Land market value
$2,427,600
Improvement market value
$20,138,200
Total market value
$22,565,800
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
PROCESSING PLANT (CEMENT, GRAVEL)
Status
Off-Market
Year built
1997
Heating
YES
Cooling
NONE
Buildings
2
Stories
1
Total area
557,348 SF
Lot
33.6 ac (1,463,616 SF)
Zoning code
LIGHT INDUSTRIAL
APN
9634-42-5872-00
UPID
US53-2633019
Jurisdiction
LEE
Zoning & alternative use
LIGHT INDUSTRIAL · Sanford, NC
Zoning LIGHT INDUSTRIAL · permitted uses
LIGHT INDUSTRIAL · Sanford, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Sanford. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$35.7M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$37.8M
AUTO REPAIR, GARAGE
Est. value
$37.3M
WAREHOUSE, STORAGE
Est. value
$34.7M
INDUSTRIAL (GENERAL) Current
NEIGHBORHOOD: SHOPPING CENTER
AUTO REPAIR, GARAGE
WAREHOUSE, STORAGE
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
Heating
YES
Cooling
Yes
Stories
1
Buildings
2
Lot
33.6 ac
Current owner
From public records · entity-resolved
Fro Spin LLC
Entity
Free & Clear · 17 yrs held
Mailing address
1823 BOONE TRL RD, SANFORD, NC 27330-8662
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2009
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 6, 2009
$16,352,000
Fro Spin LLC
Spirit Master Funding IV LLC
Grant Deed
related
—
Apr 11, 2008
$24,000,000
Spirit Master Fndg IV LLC
Frontier Spinning Mills LLC
Grant Deed
related
—
—
—
Fro Spin Nc LLC
—
Deed Of Trust
related
$23,400 · American National Insurance Co
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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