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Property profile & analytics
OFF-MARKET
Estimated value
$860,000
Refrigerated & Cold Storage
2852 New Leicester Hwy, Leicester, NC 28748-5182
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US53-1024313
Property profile
Verified
Property type
Refrigerated & Cold Storage
Use group
COLD STORAGE
Year built
1982
Construction
STEEL FRAME
Total area
7,080 SF
Lot
2.33 ac (101,495 SF)
Zoning code
DEED DATE: 2023-01-06 DEE
APN
9701-04-4220-00000
UPID
US53-1024313
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
by Request
CAP Approach
CAP
$920k
Comparable Approach
Comparable
$910k
Blend (final)
Blend
$860k
Owner & transaction history
Reynolds Empire LLC · 3 yrs held
Reynolds Empire LLC
since 2023
Last sale
$775,000
1 recorded transaction
Zoning & alternative use
DEED DATE: 2023-01-06 DEE · Leicester, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.3M
+74.2%
Office building
$1.3M
+70.5%
Neighborhood: shopping center
$1.2M
+57.8%
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 Leicester submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Leicester 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
$635,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$1,000,000
6.5%
$920,000
7%
$855,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$770,000
Current use
AUTO REPAIR, GARAGE
$1,345,000
Change: +74% · Conversion: Easy
OFFICE BUILDING
$1,315,000
Change: +71% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$1,220,000
Change: +58% · Conversion: Moderate
Blend value · Realmo final
$860k
Range $774k – $946k · ±10% · vs last sale $775k (Jan 6 2023)
Last sale anchor
$775k
Jan 6 2023
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
$121 / 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
$4,618
Tax year 2024
Assessed value
$702,000
Assessed 2024
Previous assessed
$702,000
+0.0% YoY
Effective rate
0.66%
On assessed value
Land market value
$49,600
Improvement market value
$652,400
Total market value
$702,000
Applied tax rate
17.0000
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
Refrigerated & Cold Storage
Use group
COLD STORAGE
Status
Off-Market
Year built
1982
Construction
STEEL FRAME
Heating
NONE
Cooling
YES
Stories
1
Total area
7,080 SF
Lot
2.33 ac (101,495 SF)
Zoning code
DEED DATE: 2023-01-06 DEE
APN
9701-04-4220-00000
UPID
US53-1024313
Jurisdiction
BUNCOMBE
Zoning & alternative use
DEED DATE: 2023-01-06 DEE · Leicester, NC
Zoning DEED DATE: 2023-01-06 DEE · permitted uses
DEED DATE: 2023-01-06 DEE · Leicester, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Leicester. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$770,000
AUTO REPAIR, GARAGE
Est. value
$1.3M
OFFICE BUILDING
Est. value
$1.3M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.2M
WAREHOUSE, STORAGE Current
AUTO REPAIR, GARAGE
OFFICE BUILDING
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
1982
Construction
STEEL FRAME
Heating
NONE
Cooling
Yes
Stories
1
Lot
2.33 ac
Current owner
From public records · entity-resolved
Reynolds Empire LLC
Entity
Mailing address
2852 NEW LEICESTER HWY, LEICESTER, NC 28748-5182
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2023
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
Jan 6, 2023
$775,000
Reynolds Empire LLC
Leicester Volunteer Fire Department
Warranty Deed
$806,607 · Truist Bank
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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