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Property profile & analytics
OFF-MARKET
Estimated value
$2,820,000
Warehouses
198 Kapp St Winston Salem, NC 27105-2639
Entity Owned
3-yr Hold
Absentee Owner
Free & Clear
Property ID
US53-4899788
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
1965
Total area
16,160 SF
Lot
3.03 ac (131,987 SF)
Zoning code
LI
APN
6837-35-2968.00
UPID
US53-4899788
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
-
Sunbelt Rentals Power & HVAC HVAC Service General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.80M
CAP Approach
CAP
$2.40M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.82M
Owner & transaction history
Mdc Nc1 LP · 3 yrs held
Mdc Nc1 LP
since 2022
Last sale
$2.9M
2 recorded transactions
Zoning & alternative use
LI · Winston Salem, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The LI District is primarily intended to accommodate limited manufacturing, wholesaling, warehousing, research and development, and related commercial and service activities which, in their normal operations, have little or no adverse effect upon adjoining properties
Zone name
Limited Industrial
General category
INDUSTRIAL
Zone area
2,297.37 ac
Source
Realmo
Top alternative use upside
Medical building
$2.7M
+242.6%
Auto repair, garage
$2.1M
+167.0%
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 Winston Salem submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Winston Salem 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
$3,835,000
ML approach
$3,800,000
CAP Approach
CAP Return
Estimation
6%
$2,600,000
6.5%
$2,400,000
7%
$2,230,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$2,680,000
Change: +243% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,090,000
Change: +167% · Conversion: Easy
Blend value · Realmo final
$2.82M
Range $2.54M – $3.10M · ±10% · vs last sale $2.85M (Sep 23 2022)
Last sale anchor
$2.85M
Sep 23 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
$175 / 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
$11,210
Tax year 2023
Assessed value
$837,300
Assessed 2024
Previous assessed
$837,300
+0.0% YoY
Effective rate
1.34%
On assessed value
Assessed land
$195,900
Assessed improvement
$641,400
Land market value
$195,900
Improvement market value
$641,400
Total market value
$837,300
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
1965
Buildings
2
Stories
1
Total area
16,160 SF
Lot
3.03 ac (131,987 SF)
Zoning code
LI
APN
6837-35-2968.00
UPID
US53-4899788
Jurisdiction
FORSYTH
Zoning & alternative use
LI · Winston Salem, NCZoning LI · permitted uses
LI · Winston Salem, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The LI District is primarily intended to accommodate limited manufacturing, wholesaling, warehousing, research and development, and related commercial and service activities which, in their normal operations, have little or no adverse effect upon adjoining properties
Zone name
Limited Industrial
General category
INDUSTRIAL
Zone area
2,297.37 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING
Est. value
$2.7M
AUTO REPAIR, GARAGE
Est. value
$2.1M
MEDICAL BUILDING
AUTO REPAIR, GARAGE
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
1965
Stories
1
Buildings
2
Lot
3.03 ac
Current owner
From public records · entity-resolved
Mdc Nc1 LP
Entity
Free & Clear · 3 yrs held
Mailing address
11995 EL CAMINO REAL, SAN DIEGO, CA 92130-2539
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 23, 2022
$2,851,500
Mdc Nc1 LP
198 Kapp Street LLC
Special Warranty Deed
—
Aug 25, 2021
$562,500
198 Kapp Street LLC
Bsp Properties LLC
Special Warranty Deed
$1,727,093 · Southern Bank & Trust 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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