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Property profile & analytics
OFF-MARKET
Estimated value
$2,915,000
Industrial properties
1904 Morganton SW Blvd Lenoir, NC 28645-5341
Entity Owned
Free & Clear
Property ID
US53-2201908
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1957
Construction
STEEL FRAME
Total area
48,248 SF
Lot
50.62 ac (2,205,007 SF)
APN
06 88 1 1
UPID
US53-2201908
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
-
Bernhardt Furniture Company: Plant 6 Production Facility Furniture & Home Goods
-
Bernhardt Furniture:Central Upholstery Production Facility Furniture & Home Goods
-
Bernhardt Furniture Plant 5 Furniture & Home Goods Home Decor Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.35M
Blend (final)
Blend
$2.92M
Owner & transaction history
BERNHARDT FURNITURE COMPANY
BERNHARDT FURNITURE COMPANY
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$4.0M
+124.9%
Commercial (general)
$3.6M
+98.0%
Warehouse, storage
$2.2M
+24.1%
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 Lenoir submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lenoir 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)
$1,800,000
Current use
OFFICE BUILDING
$4,045,000
Change: +125% · Conversion: Difficult
COMMERCIAL (GENERAL)
$3,560,000
Change: +98% · Conversion: Difficult
WAREHOUSE, STORAGE
$2,230,000
Change: +24% · Conversion: Easy
Blend value · Realmo final
$2.92M
Range $2.62M – $3.21M · ±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
$60 / 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
Property tax & assessments
Assessed value
$6,164,900
Assessed 2024
Previous assessed
$6,164,900
+0.0% YoY
Assessed land
$596,000
Assessed improvement
$5,568,900
Land market value
$596,000
Improvement market value
$5,568,900
Total market value
$6,164,900
Applied tax rate
6.0000
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
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
Off-Market
Year built
1957
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
NONE
Buildings
7
Stories
1
Bathrooms
4
Total area
48,248 SF
Lot
50.62 ac (2,205,007 SF)
APN
06 88 1 1
UPID
US53-2201908
Jurisdiction
CALDWELL
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$1.8M
OFFICE BUILDING
Est. value
$4.0M
COMMERCIAL (GENERAL)
Est. value
$3.6M
WAREHOUSE, STORAGE
Est. value
$2.2M
INDUSTRIAL (GENERAL) Current
OFFICE BUILDING
COMMERCIAL (GENERAL)
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
1957
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
7
Bathrooms
4
Lot
50.62 ac
Current owner
From public records · entity-resolved
BERNHARDT FURNITURE COMPANY
Entity
Free & Clear · 0 yrs held
Mailing address
PO BOX 740, LENOIR, NC 28645-0740
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.
Try Rey
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