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Property profile & analytics
OFF-MARKET
Estimated value
$11,950,000
Warehouses
2588 2nd Notch Rd, Lexington, SC 29072-8998
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US77-1441012
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1989
Total area
97,606 SF
Lot
15.92 ac (693,475 SF)
Zoning code
ID
APN
006400-06-019
UPID
US77-1441012
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
-
The Martin Brower Company/McDonald's Distribution Center Big Box & Wholesale Store Food Market
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$9.90M
CAP Approach
CAP
$11.28M
Comparable Approach
Comparable
$11.12M
Blend (final)
Blend
$11.95M
Owner & transaction history
Ipcp Carolina Freezer LLC · 3 yrs held
Ipcp Carolina Freezer LLC
since 2022
Last sale
$14.7M
7 recorded transactions
Zoning & alternative use
ID · Lexington, SC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$16.2M
+105.3%
Office building
$13.9M
+76.2%
Retail stores
$11.1M
+40.5%
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 Lexington submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lexington 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
$13,750,000
ML approach
$9,895,000
CAP Approach
CAP Return
Estimation
6%
$12,215,000
6.5%
$11,275,000
7%
$10,470,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$7,870,000
Current use
COMMERCIAL (GENERAL)
$16,160,000
Change: +105% · Conversion: Difficult
OFFICE BUILDING
$13,870,000
Change: +76% · Conversion: Difficult
RETAIL STORES
$11,055,000
Change: +40% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$10,375,000
Change: +32% · Conversion: Moderate
Blend value · Realmo final
$11.95M
Range $10.76M – $13.15M · ±10% · vs last sale $14.68M (Jul 7 2022)
Last sale anchor
$14.68M
Jul 7 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
$122 / 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
$410,353
Tax year 2023
Assessed value
$715,715
Assessed 2023
Previous assessed
$715,715
+0.0% YoY
Effective rate
57.33%
On assessed value
Assessed land
$30,948
Assessed improvement
$684,767
Land market value
$515,800
Improvement market value
$11,412,775
Total market value
$11,928,575
Applied tax rate
1.0000
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
1989
Heating
FORCED AIR
Bathrooms
2
Total area
97,606 SF
Lot
15.92 ac (693,475 SF)
Zoning code
ID
APN
006400-06-019
UPID
US77-1441012
Jurisdiction
LEXINGTON
Zoning & alternative use
ID · Lexington, SC
Zoning ID · permitted uses
ID · Lexington, SC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lexington. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$7.9M
COMMERCIAL (GENERAL)
Est. value
$16.2M
OFFICE BUILDING
Est. value
$13.9M
RETAIL STORES
Est. value
$11.1M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$10.4M
WAREHOUSE, STORAGE Current
COMMERCIAL (GENERAL)
OFFICE BUILDING
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
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
1989
Heating
FORCED AIR
Bathrooms
2
Lot
15.92 ac
Current owner
From public records · entity-resolved
Ipcp Carolina Freezer LLC
Entity
Mailing address
225 NE MIZNER BLVD STE #400, BOCA RATON, FL 33432-4092
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
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 7, 2022
$14,675,000
Ipcp Carolina Freezer LLC
Cae Industrial I LLC
Limited Warranty Deed
$12,000,000 · Delaware Life Insurance Company
Mar 16, 2020
$8,575,000
Cae Industrial I LLC
Ameris Bk
Grant Deed
—
Mar 16, 2020
$11,928,575
Cae Industrial I LLC
Lexington Sc Realty Invtrs LLC
Grant Deed
—
Mar 16, 2020
—
Cae Industrial I LLC
Gsf Lexington Corp
Grant Deed
related
—
Jun 18, 2018
—
Lexington Sc Realty Invtrs LLC
—
Grant Deed
related
$6,075,000 · Commerce Bk
Mar 28, 2012
—
Lexington Sc Realty Invtrs LLC
—
Deed Of Trust
related
$14,400,000 · Colonial Life&accident Ins Co
May 26, 2009
—
Golden State Foods Corp
County Of Lexington
Quit Claim Deed
related
—
Dec 19, 2008
$8,463,917
Lexington Sc Realty Invtrs LLC
Gsf Lexington Corp
Deed Of Trust
$7,617,526 · Enterprise Bank & Trust
Mar 25, 2005
—
Gsf Lexington Corp
Golden State Foods Corp
Warranty Deed
—
Mar 9, 2004
—
Golden State Foods Corp
—
Deed Of Trust
related
$195,000,000 · Suntrust Bank NA
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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