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Property profile & analytics
OFF-MARKET
Estimated value
$3,015,000
Manufacturing properties
2056 Willow Spg Ln, Burlington, NC 27215-8854
Entity Owned
~
Est. High Equity
Property ID
US53-1707148
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1993
Total area
33,976 SF
Lot
4.1 ac (178,596 SF)
Zoning code
I 1
APN
112236
UPID
US53-1707148
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
-
Frost Converting Systems, Inc. Production Facility Factory
-
Machine Tech Industrial Manufacturer
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.95M
CAP Approach
CAP
$2.06M
Comparable Approach
Comparable
$4.13M
Blend (final)
Blend
$3.02M
Owner & transaction history
Smith Mccormick Too LLC
Smith Mccormick Too LLC
since 2025
Last sale
$3.6M
3 recorded transactions
Zoning & alternative use
I 1 · Burlington, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$4.6M
+108.5%
Auto repair, garage
$4.0M
+81.5%
Office building
$3.3M
+51.6%
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 Burlington submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Burlington 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
$2,975,000
ML approach
$2,945,000
CAP Approach
CAP Return
Estimation
6%
$2,230,000
6.5%
$2,060,000
7%
$1,910,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$2,205,000
Current use
COMMERCIAL (GENERAL)
$4,595,000
Change: +109% · Conversion: Difficult
AUTO REPAIR, GARAGE
$4,000,000
Change: +82% · Conversion: Easy
OFFICE BUILDING
$3,340,000
Change: +52% · Conversion: Difficult
RETAIL STORES
$2,920,000
Change: +32% · Conversion: Moderate
WAREHOUSE, STORAGE
$2,045,000
Change: -7% · Conversion: Easy
Blend value · Realmo final
$3.02M
Range $2.71M – $3.32M · ±10% · vs last sale $3.55M (Dec 5 2025)
Last sale anchor
$3.55M
Dec 5 2025
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
$89 / 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
$10,584
Tax year 2023
Assessed value
$2,449,884
Assessed 2023
Previous assessed
$2,449,884
+0.0% YoY
Effective rate
0.43%
On assessed value
Assessed land
$186,210
Assessed improvement
$2,263,674
Land market value
$186,210
Improvement market value
$2,263,674
Total market value
$2,449,884
Applied tax rate
12.0000
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
1993
Heating
HEAT PUMP
Cooling
CENTRAL
Stories
1
Bathrooms
4
Total area
33,976 SF
Lot
4.1 ac (178,596 SF)
Zoning code
I 1
APN
112236
UPID
US53-1707148
Jurisdiction
ALAMANCE
Zoning & alternative use
I 1 · Burlington, NC
Zoning I 1 · permitted uses
I 1 · Burlington, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Burlington. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$2.2M
COMMERCIAL (GENERAL)
Est. value
$4.6M
AUTO REPAIR, GARAGE
Est. value
$4.0M
OFFICE BUILDING
Est. value
$3.3M
RETAIL STORES
Est. value
$2.9M
WAREHOUSE, STORAGE
Est. value
$2.0M
INDUSTRIAL (GENERAL) Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
OFFICE BUILDING
RETAIL STORES
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
1993
Heating
HEAT PUMP
Cooling
Yes
Stories
1
Bathrooms
4
Lot
4.1 ac
Current owner
From public records · entity-resolved
Smith Mccormick Too LLC
Entity
Mailing address
2 N SHR CTR, PITTSBURGH, PA 15212-5838
Ownership since
2025
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
Dec 5, 2025
$3,550,000
Smith Mccormick Too LLC
Matthews International Corporation
Special Warranty Deed
$3,017,500 · Pinnacle Bank
Jun 2, 2022
$2,500,000
Matthews International Corporation
Duckhouse Real Estate LLC
Special Warranty Deed
—
—
—
Duckhouse Real Estate LLC
—
Deed Of Trust
related
$540,000 · Midcarolina 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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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