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Property profile & analytics
OFF-MARKET
Estimated value
$740,000
Distribution centers
234 Industrial Way Dr, Kernersville, NC 27284-3200
Individually Owned
4-yr Hold
Absentee Owner
Free & Clear
Property ID
US53-1292860
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
1990
Total area
7,500 SF
Lot
0.92 ac (40,075 SF)
Zoning code
LI
APN
6886-73-7592.00
UPID
US53-1292860
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
-
Graymac Electric Supply Inc Building Supply Electrical Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$825k
CAP Approach
CAP
$740k
Comparable Approach
Comparable
$936k
Blend (final)
Blend
$740k
Owner & transaction history
Dharminkumar Rameshbahi Patel · 4 yrs held
Dharminkumar Rameshbahi Patel
since 2022
Last sale
$635,000
5 recorded transactions
Zoning & alternative use
LI · Kernersville, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.1M
+44.6%
Retail stores
$1.1M
+43.5%
Commercial (general)
$970,000
+24.5%
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 Kernersville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Kernersville 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
$870,000
ML approach
$825,000
CAP Approach
CAP Return
Estimation
6%
$800,000
6.5%
$740,000
7%
$690,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$780,000
Current use
AUTO REPAIR, GARAGE
$1,125,000
Change: +45% · Conversion: Easy
RETAIL STORES
$1,120,000
Change: +44% · Conversion: Moderate
COMMERCIAL (GENERAL)
$970,000
Change: +25% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$715,000
Change: -8% · Conversion: Easy
Blend value · Realmo final
$740k
Range $666k – $814k · ±10% · vs last sale $635k (Mar 10 2022)
Last sale anchor
$635k
Mar 10 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
$99 / 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
$6,401
Tax year 2024
Assessed value
$502,100
Assessed 2024
Previous assessed
$261,900
+91.7% YoY
Effective rate
1.27%
On assessed value
Assessed land
$96,900
Assessed improvement
$405,200
Land market value
$96,900
Improvement market value
$405,200
Total market value
$502,100
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
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
Off-Market
Year built
1990
Heating
NONE
Cooling
YES
Buildings
2
Stories
1
Total area
7,500 SF
Lot
0.92 ac (40,075 SF)
Zoning code
LI
APN
6886-73-7592.00
UPID
US53-1292860
Jurisdiction
FORSYTH
Zoning & alternative use
LI · Kernersville, NC
Zoning LI · permitted uses
LI · Kernersville, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Kernersville. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$780,000
AUTO REPAIR, GARAGE
Est. value
$1.1M
RETAIL STORES
Est. value
$1.1M
COMMERCIAL (GENERAL)
Est. value
$970,000
INDUSTRIAL (GENERAL)
Est. value
$715,000
WAREHOUSE, STORAGE Current
AUTO REPAIR, GARAGE
RETAIL STORES
COMMERCIAL (GENERAL)
INDUSTRIAL (GENERAL)
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
1990
Heating
NONE
Cooling
Yes
Stories
1
Buildings
2
Lot
0.92 ac
Current owner
From public records · entity-resolved
Dharminkumar Rameshbahi Patel
Individual
Free & Clear · 4 yrs held
Mailing address
760 LYERLY RDG RD NW, CONCORD, NC 28027-9017
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 19, 2024
—
Dharminkumar Rameshbahi Patel
—
Deed
related
$330,000 · Michael M Storey
May 22, 2023
—
Dharminkumar Rameshbahi Patel
—
Deed
related
$300,000 · Michael M Storey
Mar 10, 2022
$635,000
Dharminkumar Rameshbahi Patel
Eagle Investment Services LLC
Warranty Deed
—
Oct 18, 2021
$535,000
Eagle Investment Services LLC
Industrial Way Ky LLC
Warranty Deed
—
Mar 9, 2018
—
Industrial Waye Kv LLC
Mcrae,grady JR & Grace C
Quit Claim Deed
related
—
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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