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Property profile & analytics
OFF-MARKET
Estimated value
$1,255,000
Warehouses
2472 Davie Ave Statesville, NC 28625-9248
Entity Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US53-2035247
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1991
Construction
STONE
Total area
20,300 SF
Lot
1.14 ac (49,658 SF)
Zoning code
B-5
APN
4755-24-2465.000
UPID
US53-2035247
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
-
Closed indefinitely Carpet & Flooring Store Hardware & Home Improvement
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.26M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.25M
Blend (final)
Blend
$1.26M
Owner & transaction history
Davie Avenue Properties LLC · 4 yrs held
Davie Avenue Properties LLC
since 2021
Last sale
$1.3M
5 recorded transactions
Zoning & alternative use
B-5 · Statesville, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
districts B-4 and B-5 shall be located on the same lot as the principal structure. In B-4, B-5, LI and HI districts outdoor storage is permitted in the side and rear yards provided that the area devoted to outdoor storage is screened from view with vegetation. e. When an accessory structure is located on a lot abutting more than one (1) public
Zone name
General Business District
General category
INDUSTRIAL
Zone area
851.89 ac
Source
code of ordinances
Top alternative use upside
Office building
$2.1M
+4.4%
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 Statesville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Statesville 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
$1,230,000
ML approach
$1,255,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$1,975,000
Current use
OFFICE BUILDING
$2,060,000
Change: +4% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,680,000
Change: -15% · Conversion: Easy
Blend value · Realmo final
$1.26M
Range $1.13M – $1.38M · ±10% · vs last sale $1.27M (Sep 24 2021)
Last sale anchor
$1.27M
Sep 24 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
$62 / 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
$5,689
Tax year 2023
Assessed value
$559,100
Assessed 2023
Previous assessed
$397,580
+40.6% YoY
Effective rate
1.02%
On assessed value
Assessed land
$171,460
Assessed improvement
$387,640
Land market value
$171,460
Improvement market value
$387,640
Total market value
$559,100
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1991
Construction
STONE
Heating
FORCED AIR
Cooling
NONE
Stories
1
Total area
20,300 SF
Lot
1.14 ac (49,658 SF)
Zoning code
B-5
APN
4755-24-2465.000
UPID
US53-2035247
Jurisdiction
IREDELL
Zoning & alternative use
B-5 · Statesville, NCZoning B-5 · permitted uses
B-5 · Statesville, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
districts B-4 and B-5 shall be located on the same lot as the principal structure. In B-4, B-5, LI and HI districts outdoor storage is permitted in the side and rear yards provided that the area devoted to outdoor storage is screened from view with vegetation. e. When an accessory structure is located on a lot abutting more than one (1) public
Zone name
General Business District
General category
INDUSTRIAL
Zone area
851.89 ac
Source
code of ordinances
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$2.0M
OFFICE BUILDING
Est. value
$2.1M
AUTO REPAIR, GARAGE
Est. value
$1.7M
WAREHOUSE, STORAGE Current
OFFICE BUILDING
AUTO REPAIR, GARAGE
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
1991
Construction
STONE
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
1.14 ac
Current owner
From public records · entity-resolved
Davie Avenue Properties LLC
Entity
Mailing address
3600 GLENWOOD AVE STE #320, RALEIGH, NC 27612-4957
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 13, 2026
—
Davie Avenue Properties LLC
—
Deed
related
$350,000 · First Capital Bank
Sep 24, 2021
$1,273,500
Davie Avenue Properties LLC
P And T Management LLC
Special Warranty Deed
$1,216,172 · American National Bank & Trust Co
Oct 31, 2019
—
P & T Management LLC
—
Deed
related
$590,000 · Pinnacle Bk
Sep 5, 2012
$750,000
P & T Management LLC
Jcp JR LLC
Warranty Deed
$673,000 · Jcp JR LLC
—
—
P & T Management LLC
—
Deed Of Trust
related
$590,000 · Pinnacle Bk
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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