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Property profile & analytics
OFF-MARKET
Estimated value
$530,000
Warehouses
2354 Us Hwy 70, Connelly Springs, NC 28612
Entity Owned
4-yr Hold
Free & Clear
Property ID
US53-2995331
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1996
Construction
WOOD FRAME
Total area
24,750 SF
Lot
9.23 ac (402,059 SF)
Zoning code
INDUSTRIAL DIST
APN
9986
UPID
US53-2995331
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
$735k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$518k
Blend (final)
Blend
$530k
Owner & transaction history
Burke County · 4 yrs held
Burke County
since 2021
Last sale
$514,690
1 recorded transaction
Zoning & alternative use
INDUSTRIAL DIST · Connelly Springs, 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 Connelly Springs submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Connelly Springs 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
$580,000
ML approach
$735,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$755,000
Current use
Blend value · Realmo final
$530k
Range $477k – $583k · ±10% · vs last sale $515k (Aug 30 2021)
Last sale anchor
$515k
Aug 30 2021
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
$21 / 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
$88
Tax year 2024
Assessed value
$497,148
Assessed 2024
Previous assessed
$562,161
-11.6% YoY
Effective rate
0.02%
On assessed value
Assessed land
$106,725
Assessed improvement
$390,423
Land market value
$106,725
Improvement market value
$390,423
Total market value
$497,148
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
1996
Construction
WOOD FRAME
Heating
CENTRAL
Cooling
CENTRAL
Buildings
2
Stories
1
Total area
24,750 SF
Lot
9.23 ac (402,059 SF)
Zoning code
INDUSTRIAL DIST
APN
9986
UPID
US53-2995331
Jurisdiction
BURKE
Zoning & alternative use
INDUSTRIAL DIST · Connelly Springs, NC
Zoning INDUSTRIAL DIST · permitted uses
INDUSTRIAL DIST · Connelly Springs, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Connelly Springs. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$755,000
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
1996
Construction
WOOD FRAME
Heating
CENTRAL
Cooling
Yes
Stories
1
Buildings
2
Lot
9.23 ac
Current owner
From public records · entity-resolved
Burke County
Entity
Free & Clear · 4 yrs held
Mailing address
PO BOX 219, MORGANTON, NC 28680-0219
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 30, 2021
$550,000
Burke County
Lesa Brooke Lackey
Administrators 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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