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Property profile & analytics
OFF-MARKET
Estimated value
$515,000
Warehouses
18500 Starcreek Dr Cornelius, NC 28031-9329
Entity Owned
21-yr Hold
Free & Clear
Property ID
US53-0458743
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2004
Total area
5,000 SF
Lot
4.52 ac (196,717 SF)
Zoning code
IC
APN
533115
UPID
US53-0458743
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
-
SiteOne Landscape Supply Garden Center Hardware & Home Improvement
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$525k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$515k
Owner & transaction history
NORTHMECK/NORTH 77 LLC
NORTHMECK/NORTH 77 LLC
Zoning & alternative use
IC · Cornelius, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
Industrial Campus districts are coded to permit the development of light industries. Such developments are typically too large in scale to fit within a neighborhood environment and should be buffered from surrounding neighborhood uses.
Zone name
Industrial Campus
General category
INDUSTRIAL
Zone area
361.56 ac
Source
Realmo
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 Cornelius submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Cornelius 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%
$565,000
6.5%
$525,000
7%
$485,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$640,000
Current use
Blend value · Realmo final
$515k
Range $464k – $567k · ±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
$103 / 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
$8,620
Tax year 2023
Assessed value
$1,334,000
Assessed 2024
Previous assessed
$1,417,100
-5.9% YoY
Effective rate
0.65%
On assessed value
Assessed land
$979,100
Assessed improvement
$354,900
Land market value
$979,100
Improvement market value
$354,900
Total market value
$1,334,000
Applied tax rate
2.0000
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
WAREHOUSE, STORAGE
Status
Off-Market
Year built
2004
Heating
FORCED AIR
Cooling
YES
Stories
1
Total area
5,000 SF
Lot
4.52 ac (196,717 SF)
Zoning code
IC
APN
533115
UPID
US53-0458743
Jurisdiction
MECKLENBURG
Zoning & alternative use
IC · Cornelius, NCZoning IC · permitted uses
IC · Cornelius, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
Industrial Campus districts are coded to permit the development of light industries. Such developments are typically too large in scale to fit within a neighborhood environment and should be buffered from surrounding neighborhood uses.
Zone name
Industrial Campus
General category
INDUSTRIAL
Zone area
361.56 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$640,000
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
2004
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
4.52 ac
Current owner
From public records · entity-resolved
NORTHMECK/NORTH 77 LLC
Entity
Free & Clear · 0 yrs held
Mailing address
PO BOX 2608, CORNELIUS, NC 28031-2608
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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