Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$2,900,000
Manufacturing properties
409 Thornburg SE Dr Conover, NC 28613-8845
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US53-1220695
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1984
Total area
87,060 SF
Lot
5.31 ac (231,304 SF)
Zoning code
M-1
APN
3741-15-64-8524
UPID
US53-1220695
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
-
Jenron Supply, Inc. Big Box & Wholesale Store
-
Supply One Inc Big Box & Wholesale Store
-
R.L. Williams Company Distribution Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.52M
Blend (final)
Blend
$2.90M
Owner & transaction history
Conover Industrial Equities LLC · 1 yrs held
Conover Industrial Equities LLC
since 2025
Last sale
$3.1M
6 recorded transactions
Zoning & alternative use
M-1 · Conover, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Conover submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Conover 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$2,450,000
Current use
Blend value · Realmo final
$2.90M
Range $2.61M – $3.19M · ±10% · vs last sale $3.12M (Oct 31 2024)
Last sale anchor
$3.12M
Oct 31 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
$33 / 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
$22,012
Tax year 2023
Assessed value
$2,774,000
Assessed 2023
Previous assessed
$2,774,000
+0.0% YoY
Effective rate
0.79%
On assessed value
Assessed land
$144,900
Assessed improvement
$2,629,100
Land market value
$144,900
Improvement market value
$2,629,100
Total market value
$2,774,000
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
1984
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Units
1
Total area
87,060 SF
Lot
5.31 ac (231,304 SF)
Zoning code
M-1
APN
3741-15-64-8524
UPID
US53-1220695
Jurisdiction
CATAWBA
Zoning & alternative use
M-1 · Conover, NC
Zoning M-1 · permitted uses
M-1 · Conover, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Conover. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$2.5M
INDUSTRIAL (GENERAL) Current
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
1984
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
1
Lot
5.31 ac
Current owner
From public records · entity-resolved
Conover Industrial Equities LLC
Entity
Mailing address
PO BOX 2262, HICKORY, NC 28603-2262
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 31, 2025
$3,120,000
Conover Industrial Equities LLC
Wetmore Properties LLC
Special Warranty Deed
—
Aug 17, 2020
—
Wetmore Properties LLC
—
Deed
related
$2,425,000 · Wells Fargo Bk
—
—
Louis S Wetmore
—
Deed Of Trust
related
$333,463 · Wells Fargo Bank
—
—
Louis S Wetmore
—
Deed Of Trust
related
$750,000 · Bank Of Granite
—
—
Wetmore Properties LLC
—
Loan Modification
related
$2,425,000 · Wells Fargo Bk
—
—
Louis S Wetmore
—
Deed Of Trust
related
$1,202,210 · Bank Of Granite
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 409 Thornburg SE Dr?
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.
