New search
Property profile & analytics
OFF-MARKET
Estimated value
$910,000
Distribution centers
402 Wicker St, Sanford, NC 27330-4258
Entity Owned
2-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US53-2752162
Property summary
AI-generated overview
This exceptional 8,400-square-foot flex space property at 402 Wicker Street in Sanford, North Carolina, presents a compelling investment opportunity. Situated on a 0.89-acre lot in Lee County, this single-tenant building offers significant potential for a variety of commercial uses. The property boasts 10 drive-in doors, providing convenient access for loading and unloading. Its C-2 zoning (General Commercial District) allows for a wide range of business operations. The building's substantial size and versatile layout make it ideal for businesses requiring ample warehouse space and convenient access. Located in a rapidly developing area adjacent to downtown Sanford, this property benefits from high visibility and easy access to major transportation routes. The property's strategic location and flexible zoning make it an attractive option for businesses seeking to establish or expand their operations in a thriving community. This is a rare opportunity to acquire a well-located, functional industrial space in a growing market. The property's address is 402 Wicker Street, Sanford, NC 27330.
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
1991
Total area
8,400 SF
Lot
0.9 ac (38,999 SF)
APN
9642-58-9927-00
UPID
US53-2752162
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
-
1-800 Office Solutions Big Box & Wholesale Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$990k
CAP Approach
CAP
$830k
Comparable Approach
Comparable
$812k
Blend (final)
Blend
$910k
Owner & transaction history
402 Wicker LLC · 2 yrs held
402 Wicker LLC
since 2023
Last sale
$915,000
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$905,000
+73.1%
Retail stores
$620,000
+18.4%
Neighborhood: shopping center
$570,000
+8.8%
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 Sanford submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Sanford 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
$995,000
ML approach
$990,000
CAP Approach
CAP Return
Estimation
6%
$900,000
6.5%
$830,000
7%
$775,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$905,000
Change: +73% · Conversion: Difficult
RETAIL STORES
$620,000
Change: +18% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$570,000
Change: +9% · Conversion: Moderate
AUTO REPAIR, GARAGE
$560,000
Change: +7% · Conversion: Easy
Blend value · Realmo final
$910k
Range $819k – $1.00M · ±10% · vs last sale $915k (Dec 29 2023)
Last sale anchor
$915k
Dec 29 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
$108 / 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
$7,409
Tax year 2024
Assessed value
$622,100
Assessed 2024
Previous assessed
$622,100
+0.0% YoY
Effective rate
1.19%
On assessed value
Assessed land
$234,000
Assessed improvement
$388,100
Land market value
$234,000
Improvement market value
$388,100
Total market value
$622,100
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
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
Off-Market
Year built
1991
Heating
YES
Cooling
NONE
Stories
1
Total area
8,400 SF
Lot
0.9 ac (38,999 SF)
APN
9642-58-9927-00
UPID
US53-2752162
Jurisdiction
LEE
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL)
Est. value
$905,000
RETAIL STORES
Est. value
$620,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$570,000
AUTO REPAIR, GARAGE
Est. value
$560,000
COMMERCIAL (GENERAL)
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
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
1991
Heating
YES
Cooling
Yes
Stories
1
Lot
0.9 ac
Current owner
From public records · entity-resolved
402 Wicker LLC
Entity
Mailing address
306 MIDENHALL WAY, CARY, NC 27513-5569
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 29, 2023
$915,000
402 Wicker LLC
John Russell Wilkins JR
Special Warranty Deed
—
—
—
John R Wilkins
—
Deed Of Trust
related
$187,000 · Crescent State 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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 402 Wicker St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
