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Property profile & analytics
OFF-MARKET
Estimated value
$6,150,000
Manufacturing properties
3181 Progress Dr Lincolnton, NC 28092-5203
Entity Owned
2-yr Hold
Free & Clear
Property ID
US53-2049238
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
2003
Construction
STEEL FRAME
Total area
90,009 SF
Lot
9.59 ac (417,610 SF)
Zoning code
I-G
APN
82347
UPID
US53-2049238
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
-
R W Garcia Corporation Discount Store Grocery & Convenience Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$6.15M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$6.15M
Owner & transaction history
North Carolina Tortilla Mfg LLC · 2 yrs held
North Carolina Tortilla Mfg LLC
since 2024
Last sale
$6.2M
7 recorded transactions
Zoning & alternative use
I-G · Lincolnton, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$8.8M
+661.0%
Office building
$8.2M
+607.4%
Auto repair, garage
$7.4M
+538.6%
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 Lincolnton submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lincolnton 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
$6,150,000
ML approach
$6,150,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$8,810,000
Change: +661% · Conversion: Difficult
OFFICE BUILDING
$8,190,000
Change: +607% · Conversion: Difficult
AUTO REPAIR, GARAGE
$7,390,000
Change: +539% · Conversion: Easy
MEDICAL BUILDING
$7,290,000
Change: +530% · Conversion: Difficult
RETAIL STORES
$6,295,000
Change: +444% · Conversion: Moderate
Blend value · Realmo final
$6.15M
Range $5.54M – $6.77M · ±10% · vs last sale $6.15M (Feb 5 2024)
Last sale anchor
$6.15M
Feb 5 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
$68 / 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
$37,602
Tax year 2024
Assessed value
$6,205,557
Assessed 2024
Previous assessed
$6,205,557
+0.0% YoY
Effective rate
0.61%
On assessed value
Assessed land
$474,098
Assessed improvement
$5,731,459
Land market value
$474,098
Improvement market value
$5,731,459
Total market value
$6,205,557
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
2003
Construction
STEEL FRAME
Heating
YES
Cooling
YES
Buildings
2
Stories
1
Total area
90,009 SF
Lot
9.59 ac (417,610 SF)
Zoning code
I-G
APN
82347
UPID
US53-2049238
Jurisdiction
LINCOLN
Zoning & alternative use
I-G · Lincolnton, NC
Zoning I-G · permitted uses
I-G · Lincolnton, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lincolnton. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL)
Est. value
$8.8M
OFFICE BUILDING
Est. value
$8.2M
AUTO REPAIR, GARAGE
Est. value
$7.4M
MEDICAL BUILDING
Est. value
$7.3M
RETAIL STORES
Est. value
$6.3M
COMMERCIAL (GENERAL)
OFFICE BUILDING
AUTO REPAIR, GARAGE
MEDICAL BUILDING
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
2003
Construction
STEEL FRAME
Heating
YES
Cooling
Yes
Stories
1
Buildings
2
Lot
9.59 ac
Current owner
From public records · entity-resolved
North Carolina Tortilla Mfg LLC
Entity
Free & Clear · 2 yrs held
Mailing address
3181 PROGRESS DR, LINCOLNTON, NC 28092-5203
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
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 5, 2024
$6,150,000
North Carolina Tortilla Mfg LLC
Utz Quality Foods LLC
Special Warranty Deed
—
Oct 19, 2022
—
Utz Quality Foods LLC
—
Deed
related
$88,140,000 · City National Bank
Dec 6, 2021
$6,000,000
Utz Quality Foods LLC
Progress Drive LLC
Special Warranty Deed
—
Sep 14, 2005
$2,901,988
Progress Drive LLC
Tkc Xlvi LLC
Grant Deed
$2,430,000 · Branch Banking & Trust Co
Aug 10, 2004
$192,000
Tkc Xlvi LLC
Lincoln County
Grant Deed
—
Aug 10, 2004
—
Tkc Xlvi LLC
Lincoln County
Grant Deed
related
—
—
—
Progress Drive LLC
—
Deed Of Trust
related
$2,975,000 · Branch Banking & Trust Co
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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