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Property profile & analytics
OFF-MARKET
Estimated value
$595,000
Warehouses
251 Hwy 24th 27th W, Midland, NC 28107-7505
Entity Owned
5-yr Hold
Free & Clear
Property ID
US53-1068006
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2000
Construction
METAL FRAME
Total area
5,000 SF
Lot
5.82 ac (253,519 SF)
Zoning code
LI-SU
APN
5524 98 1559
UPID
US53-1068006
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
$620k
CAP Approach
CAP
$560k
Comparable Approach
Comparable
$630k
Blend (final)
Blend
$595k
Owner & transaction history
Starnes Commerical Properties LLC · 5 yrs held
Starnes Commerical Properties LLC
since 2021
Last sale
$784,000
1 recorded transaction
Zoning & alternative use
LI-SU · Midland, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$720,000
+66.6%
Commercial (general)
$645,000
+49.8%
Retail stores
$595,000
+38.2%
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 Midland submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Midland 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
$570,000
ML approach
$620,000
CAP Approach
CAP Return
Estimation
6%
$605,000
6.5%
$560,000
7%
$520,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$430,000
Current use
AUTO REPAIR, GARAGE
$720,000
Change: +67% · Conversion: Easy
COMMERCIAL (GENERAL)
$645,000
Change: +50% · Conversion: Difficult
RETAIL STORES
$595,000
Change: +38% · Conversion: Moderate
Blend value · Realmo final
$595k
Range $536k – $655k · ±10% · vs last sale $784k (Jun 11 2021)
Last sale anchor
$784k
Jun 11 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
$119 / 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
$5,140
Tax year 2024
Assessed value
$760,290
Assessed 2024
Previous assessed
$515,000
+47.6% YoY
Effective rate
0.68%
On assessed value
Assessed land
$469,850
Assessed improvement
$290,440
Land market value
$469,850
Improvement market value
$290,440
Total market value
$760,290
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
2000
Construction
METAL FRAME
Heating
HEAT PUMP
Cooling
CENTRAL
Stories
1
Bathrooms
2
Total area
5,000 SF
Lot
5.82 ac (253,519 SF)
Zoning code
LI-SU
APN
5524 98 1559
UPID
US53-1068006
Jurisdiction
CABARRUS
Zoning & alternative use
LI-SU · Midland, NC
Zoning LI-SU · permitted uses
LI-SU · Midland, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Midland. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$430,000
AUTO REPAIR, GARAGE
Est. value
$720,000
COMMERCIAL (GENERAL)
Est. value
$645,000
RETAIL STORES
Est. value
$595,000
WAREHOUSE, STORAGE Current
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
RETAIL STORES
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
2000
Construction
METAL FRAME
Heating
HEAT PUMP
Cooling
Yes
Stories
1
Bathrooms
2
Lot
5.82 ac
Current owner
From public records · entity-resolved
Starnes Commerical Properties LLC
Entity
Free & Clear · 5 yrs held
Mailing address
PO BOX 5371, CHARLOTTE, NC 28299-5371
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
Jun 11, 2021
$784,000
Starnes Commerical Properties LLC
Tuesday Two LLC
Warranty 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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