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Property profile & analytics
OFF-MARKET
Estimated value
$840,000
Warehouses
2218 Statesville Blvd, Salisbury, NC 28147-9166
Individually Owned
1-yr Hold
Free & Clear
Property ID
US53-0896271
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2001
Total area
12,482 SF
Lot
1.41 ac (61,420 SF)
Zoning code
B7
APN
331 227
UPID
US53-0896271
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
-
704Hemp CBD Shop Salisbury (Bike/Boat/Book/etc) Store
-
HORNco Refinery Vape Shop Salisbury (Bike/Boat/Book/etc) Store Alternative Medicine Practice
-
Skin & Bones Inc. - Hot Rods, Classics & Custom Fabrication Auto Repair Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$665k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$763k
Blend (final)
Blend
$840k
Owner & transaction history
James G Rea JR · 1 yrs held
James G Rea JR
since 2025
Last sale
$1.1M
4 recorded transactions
Zoning & alternative use
B7 · Salisbury, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.2M
+145.0%
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 Salisbury submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Salisbury 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
$820,000
ML approach
$665,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$1,150,000
Change: +145% · Conversion: Moderate
Blend value · Realmo final
$840k
Range $756k – $924k · ±10% · vs last sale $1.06M (Feb 9 2023)
Last sale anchor
$1.06M
Feb 9 2023
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
$67 / 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
$10,679
Tax year 2023
Assessed value
$892,871
Assessed 2023
Previous assessed
$927,605
-3.7% YoY
Effective rate
1.20%
On assessed value
Assessed land
$368,520
Assessed improvement
$524,351
Land market value
$368,520
Improvement market value
$524,351
Total market value
$892,871
Applied tax rate
101.0000
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
2001
Heating
PACKAGE
Cooling
YES
Stories
1
Bathrooms
1
Total area
12,482 SF
Lot
1.41 ac (61,420 SF)
Zoning code
B7
APN
331 227
UPID
US53-0896271
Jurisdiction
ROWAN
Zoning & alternative use
B7 · Salisbury, NC
Zoning B7 · permitted uses
B7 · Salisbury, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Salisbury. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES
Est. value
$1.2M
RETAIL STORES
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
2001
Heating
PACKAGE
Cooling
Yes
Stories
1
Bathrooms
1
Lot
1.41 ac
Current owner
From public records · entity-resolved
James G Rea JR
Individual
Free & Clear · 1 yrs held
Mailing address
1786 GREY ROCK DR, FORT MILL, SC 29708-6454
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 22, 2025
—
James G Rea JR
James Green Rea JR
Deed
related
—
Feb 9, 2023
$1,060,000
James G Rea
Filip Hugo And Associates LLC
Special Warranty Deed
—
Jul 23, 2020
—
Charles W Jordan
Exodus Properties LLC
Warranty Deed
—
Jul 23, 2020
$732,000
Filip Hugo & Associates LLC
Charles W Jordan
Warranty Deed
—
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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