Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$1,320,000
Manufacturing properties
209 Steele St Statesville, NC 28677
Entity Owned
Free & Clear
Property ID
US53-1508824
Property profile
Verified
Property type
Manufacturing properties
Use group
HEAVY MANUFACTURING
Year built
1996
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
20,157 SF
Lot
1.32 ac (57,499 SF)
Zoning code
HI
APN
4744-02-3688.000
UPID
US53-1508824
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.32M
Owner & transaction history
J C STEELE & SONS INC
J C STEELE & SONS INC
Zoning & alternative use
HI · Statesville, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
In B-4, B-5, LI and HI districts outdoor storage is permitted in the side and rear yards provided that the area devoted to outdoor storage is screened from view with vegetation. e. When an accessory structure is located on a lot abutting more than one (1) public
Zone name
Heavy Industrial District
General category
INDUSTRIAL
Zone area
2,870.87 ac
Source
code of ordinances
Top alternative use upside
Office building
$2.0M
+44.3%
Auto repair, garage
$1.5M
+6.5%
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 Statesville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Statesville 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)
$1,395,000
Current use
OFFICE BUILDING
$2,015,000
Change: +44% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,485,000
Change: +7% · Conversion: Easy
WAREHOUSE, STORAGE
$1,195,000
Change: -14% · Conversion: Easy
Blend value · Realmo final
$1.32M
Range $1.19M – $1.45M · ±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
$65 / 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
$10,458
Tax year 2023
Assessed value
$1,027,680
Assessed 2023
Previous assessed
$1,189,580
-13.6% YoY
Effective rate
1.02%
On assessed value
Assessed land
$34,850
Assessed improvement
$992,830
Land market value
$34,850
Improvement market value
$992,830
Total market value
$1,027,680
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
HEAVY MANUFACTURING
Status
Off-Market
Year built
1996
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Stories
2
Rooms
1
Bathrooms
1
Total area
20,157 SF
Lot
1.32 ac (57,499 SF)
Zoning code
HI
APN
4744-02-3688.000
UPID
US53-1508824
Jurisdiction
IREDELL
Zoning & alternative use
HI · Statesville, NCZoning HI · permitted uses
HI · Statesville, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
In B-4, B-5, LI and HI districts outdoor storage is permitted in the side and rear yards provided that the area devoted to outdoor storage is screened from view with vegetation. e. When an accessory structure is located on a lot abutting more than one (1) public
Zone name
Heavy Industrial District
General category
INDUSTRIAL
Zone area
2,870.87 ac
Source
code of ordinances
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$1.4M
OFFICE BUILDING
Est. value
$2.0M
AUTO REPAIR, GARAGE
Est. value
$1.5M
WAREHOUSE, STORAGE
Est. value
$1.2M
INDUSTRIAL (GENERAL) Current
OFFICE BUILDING
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
1996
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
2
Rooms
1
Bathrooms
1
Lot
1.32 ac
Current owner
From public records · entity-resolved
J C STEELE & SONS INC
Entity
Free & Clear · 0 yrs held
Mailing address
PO BOX 1834, STATESVILLE, NC 28687-1834
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 209 Steele St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
