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Property profile & analytics
OFF-MARKET
Estimated value
$515,000
Warehouses
232 1st St, Albemarle, NC 28001-4809
Entity Owned
12-yr Hold
Free & Clear
Property ID
US53-1845916
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1954
Total area
12,560 SF
Lot
1.01 ac (43,996 SF)
Zoning code
MULTIPLE
APN
654803241038
UPID
US53-1845916
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
-
TRITON GLASS Hardware & Home Improvement Home Decor Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$325k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$683k
Blend (final)
Blend
$515k
Owner & transaction history
Triton Glass LLC · 12 yrs held
Triton Glass LLC
since 2014
7 recorded transactions
Zoning & alternative use
MULTIPLE · Albemarle, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Albemarle submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Albemarle 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
$325,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$730,000
Current use
Blend value · Realmo final
$515k
Range $464k – $567k · ±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
$41 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$3,445
Tax year 2024
Assessed value
$260,949
Assessed 2024
Previous assessed
$203,132
+28.5% YoY
Effective rate
1.32%
On assessed value
Assessed land
$65,650
Assessed improvement
$195,299
Land market value
$65,650
Improvement market value
$195,299
Total market value
$260,949
Applied tax rate
503.0000
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
1954
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Bathrooms
3
Total area
12,560 SF
Lot
1.01 ac (43,996 SF)
Zoning code
MULTIPLE
APN
654803241038
UPID
US53-1845916
Jurisdiction
STANLY
Zoning & alternative use
MULTIPLE · Albemarle, NC
Zoning MULTIPLE · permitted uses
MULTIPLE · Albemarle, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Albemarle. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$730,000
WAREHOUSE, STORAGE Current
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
1954
Heating
CENTRAL
Cooling
Yes
Stories
1
Bathrooms
3
Lot
1.01 ac
Current owner
From public records · entity-resolved
Triton Glass LLC
Entity
Free & Clear · 12 yrs held
Mailing address
232 S 1ST ST, ALBEMARLE, NC 28001-4809
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2014
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 5, 2014
$250,000
Triton Glass LLC
Banakes,dean E & Patricia A
Warranty Deed
—
Jun 5, 2014
—
Triton Glass LLC
Dean E Banakes
Deed
—
Jun 30, 2009
—
Albemarle Glass Co INC
—
Grant Deed
related
$1,292,587 · Bank Of Stanley
Apr 1, 2009
—
Albemarle Glass Co INC
—
Deed Of Trust
related
$1,292,587 · Bank Of Stanley
Nov 30, 2005
—
Albemarle Glass Co INC
—
Deed Of Trust
related
$2,414,742 · Bank Of Stanley
Nov 5, 2004
—
Albemarle Glass Co INC
—
Trustees Deed
related
$275,000 · Bank Of Stanley
—
—
Dean E Banakes
—
Deed Of Trust
related
—
—
—
Albemarle Glass Co INC
—
Deed Of Trust
related
$2,414,742 · Bank Of Stanley
—
—
Albemarle Glass Co INC
—
Deed Of Trust
related
$1,292,587 · Bank Of Stanley
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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