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Property profile & analytics
OFF-MARKET
Estimated value
$925,000
Warehouses
2828 Gray Fox Rd, Monroe, NC 28110-8422
Entity Owned
1-yr Hold
Free & Clear
Property ID
US53-1621824
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
2002
Total area
6,680 SF
Lot
1.16 ac (50,530 SF)
Zoning code
LI INDIAN TRAIL
APN
07-048-091
UPID
US53-1621824
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
-
Elite Dry Cleaners & Laundry service (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$925k
CAP Approach
CAP
$875k
Comparable Approach
Comparable
$651k
Blend (final)
Blend
$925k
Owner & transaction history
Akshar 2024 LLC · 1 yrs held
Akshar 2024 LLC
since 2024
Last sale
$925,000
1 recorded transaction
Zoning & alternative use
LI INDIAN TRAIL · Monroe, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$1.4M
+131.1%
Office building
$1.2M
+100.2%
Auto repair, garage
$1.1M
+73.9%
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 Monroe submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Monroe 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
$925,000
ML approach
$925,000
CAP Approach
CAP Return
Estimation
6%
$950,000
6.5%
$875,000
7%
$815,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$610,000
Current use
INDUSTRIAL (GENERAL)
$1,405,000
Change: +131% · Conversion: Easy
OFFICE BUILDING
$1,220,000
Change: +100% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,060,000
Change: +74% · Conversion: Easy
Blend value · Realmo final
$925k
Range $833k – $1.02M · ±10% · vs last sale $925k (Aug 30 2024)
Last sale anchor
$925k
Aug 30 2024
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
$138 / 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
$3,058
Tax year 2023
Assessed value
$301,900
Assessed 2023
Previous assessed
$301,900
+0.0% YoY
Effective rate
1.01%
On assessed value
Assessed land
$60,900
Assessed improvement
$241,000
Land market value
$60,900
Improvement market value
$241,000
Total market value
$301,900
Applied tax rate
619.0000
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
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
2002
Heating
YES
Stories
1
Total area
6,680 SF
Lot
1.16 ac (50,530 SF)
Zoning code
LI INDIAN TRAIL
APN
07-048-091
UPID
US53-1621824
Jurisdiction
UNION
Zoning & alternative use
LI INDIAN TRAIL · Monroe, NC
Zoning LI INDIAN TRAIL · permitted uses
LI INDIAN TRAIL · Monroe, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Monroe. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$610,000
INDUSTRIAL (GENERAL)
Est. value
$1.4M
OFFICE BUILDING
Est. value
$1.2M
AUTO REPAIR, GARAGE
Est. value
$1.1M
WAREHOUSE, STORAGE Current
INDUSTRIAL (GENERAL)
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
2002
Heating
YES
Stories
1
Lot
1.16 ac
Current owner
From public records · entity-resolved
Akshar 2024 LLC
Entity
Free & Clear · 1 yrs held
Mailing address
2828 GRAY FOX RD, MONROE, NC 28110-8422
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2024
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, 2024
$925,000
Akshar 2024 LLC
Leila P Helms
Special 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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