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Property profile & analytics
OFF-MARKET
Estimated value
$12,500,000
Manufacturing properties
376 Pne St Ext Forest City, NC 28043-5800
Entity Owned
2-yr Hold
Free & Clear
Property ID
US53-2879352
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1960
Total area
343,372 SF
Lot
49.89 ac (2,173,208 SF)
Zoning code
M1ETJ
APN
1650226
UPID
US53-2879352
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
$12.50M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$12.50M
Owner & transaction history
American Greetings Corporation · 2 yrs held
American Greetings Corporation
since 2024
Last sale
$12.5M
2 recorded transactions
Zoning & alternative use
M1ETJ · Forest City, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Warehouse, storage
$19.5M
+81.5%
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 Forest City submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Forest City 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
$12,500,000
ML approach
$12,500,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$10,715,000
Current use
WAREHOUSE, STORAGE
$19,455,000
Change: +82% · Conversion: Easy
Blend value · Realmo final
$12.50M
Range $11.25M – $13.75M · ±10% · vs last sale $12.50M (Jun 6 2024)
Last sale anchor
$12.50M
Jun 6 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
$36 / 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 2021Property tax & assessments
Tax year 2021
Tax billed
$31,953
Tax year 2021
Assessed value
$5,039,000
Assessed 2023
Previous assessed
$5,039,000
+0.0% YoY
Effective rate
0.63%
On assessed value
Assessed land
$529,900
Assessed improvement
$4,509,100
Land market value
$529,900
Improvement market value
$4,509,100
Total market value
$5,039,000
Applied tax rate
4.0000
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
1960
Heating
OTHER
Cooling
EVAPORATIVE
Stories
1
Total area
343,372 SF
Lot
49.89 ac (2,173,208 SF)
Zoning code
M1ETJ
APN
1650226
UPID
US53-2879352
Jurisdiction
RUTHERFORD
Zoning & alternative use
M1ETJ · Forest City, NC
Zoning M1ETJ · permitted uses
M1ETJ · Forest City, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Forest City. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$10.7M
WAREHOUSE, STORAGE
Est. value
$19.5M
INDUSTRIAL (GENERAL) Current
WAREHOUSE, STORAGE
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
1960
Heating
OTHER
Cooling
Yes
Stories
1
Lot
49.89 ac
Current owner
From public records · entity-resolved
American Greetings Corporation
Entity
Free & Clear · 2 yrs held
Mailing address
1 AMERICAN BLVD, WESTLAKE, OH 44145-8151
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 6, 2024
$12,500,000
American Greetings Corporation
Westrock Converting LLC
Special Warranty Deed
—
Jul 30, 2014
—
Ag Industries INC
American Greetings Corp
Grant Deed
related
—
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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