New search
Property profile & analytics
OFF-MARKET
Estimated value
$1,125,000
Warehouses
2353 Rains Ml Rd, Princeton, NC 27569
Individually Owned
5-yr Hold
~
Est. High Equity
Property ID
US53-3295680
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2004
Total area
9,104 SF
Lot
108.21 ac (4,713,628 SF)
Zoning code
RAG
APN
04Q07027R
UPID
US53-3295680
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
$1.15M
Comparable Approach
Comparable
$1.21M
Blend (final)
Blend
$1.13M
Owner & transaction history
Hanson Aggregates Southeast Ll · 5 yrs held
Hanson Aggregates Southeast Ll
since 2020
3 recorded transactions
Zoning & alternative use
RAG · Princeton, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.5M
+88.5%
Retail stores
$1.5M
+80.4%
Auto repair, garage
$1.4M
+71.5%
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 Princeton submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Princeton 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%
$1,245,000
6.5%
$1,150,000
7%
$1,070,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$805,000
Current use
OFFICE BUILDING
$1,520,000
Change: +88% · Conversion: Difficult
RETAIL STORES
$1,455,000
Change: +80% · Conversion: Moderate
AUTO REPAIR, GARAGE
$1,385,000
Change: +72% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$1,335,000
Change: +65% · Conversion: Moderate
MEDICAL BUILDING
$1,325,000
Change: +64% · Conversion: Difficult
COMMERCIAL (GENERAL)
$970,000
Change: +20% · Conversion: Difficult
Blend value · Realmo final
$1.13M
Range $1.01M – $1.24M · ±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
$124 / 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
$3,069
Tax year 2024
Assessed value
$642,980
Assessed 2024
Previous assessed
$642,980
+0.0% YoY
Effective rate
0.48%
On assessed value
Assessed land
$337,830
Assessed improvement
$305,150
Land market value
$337,830
Improvement market value
$305,150
Total market value
$642,980
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
2004
Heating
NONE
Cooling
NONE
Stories
1
Total area
9,104 SF
Lot
108.21 ac (4,713,628 SF)
Zoning code
RAG
APN
04Q07027R
UPID
US53-3295680
Jurisdiction
JOHNSTON
Zoning & alternative use
RAG · Princeton, NC
Zoning RAG · permitted uses
RAG · Princeton, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Princeton. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$805,000
OFFICE BUILDING
Est. value
$1.5M
RETAIL STORES
Est. value
$1.5M
AUTO REPAIR, GARAGE
Est. value
$1.4M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.3M
MEDICAL BUILDING
Est. value
$1.3M
COMMERCIAL (GENERAL)
Est. value
$970,000
WAREHOUSE, STORAGE Current
OFFICE BUILDING
RETAIL STORES
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
MEDICAL BUILDING
COMMERCIAL (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
2004
Heating
NONE
Cooling
Yes
Stories
1
Lot
108.21 ac
Current owner
From public records · entity-resolved
Hanson Aggregates Southeast Ll
Individual
Mailing address
PO BOX 297, PRINCETON, NC 27569-0297
Ownership since
2020
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 21, 2020
$3,102
Hanson Aggregates Southeast Ll
Norwood M Holland
Warranty Deed
—
Aug 18, 2009
$17,000
Norwood M Holland
Rains Mill Road
Warranty Deed
—
—
—
Holland,norwood M
—
Deed Of Trust
related
$200,000 · Margaret P Holland
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 2353 Rains Ml Rd?
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.
