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Property profile & analytics
OFF-MARKET
Estimated value
$1,550,000
Retail space
429 Market St Smithfield, NC 27577-3322
Entity Owned
5-yr Hold
Free & Clear
Property ID
US53-0010512
Property summary
AI-generated overview
This exceptional 6.88-acre commercial lot is situated in Smithfield, North Carolina, on bustling US 70 Business (Market Street). Zoned B-3, it offers significant potential for various commercial uses, with a suggested highest and best use as a storage facility. The property's prime location provides high visibility and accessibility, benefiting from proximity to downtown Smithfield and adjacency to a Dollar General store, ensuring consistent traffic flow. The lot is conveniently located within a thriving area of Johnston County, experiencing substantial growth, ranking first in percentage and sixth in total growth for North Carolina. The area boasts a population exceeding 28,000 within a 5-mile radius, with average household incomes of $49,279, creating a robust market for diverse commercial ventures. Water access is available on-site
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2018
Total area
9,090 SF
Lot
1.39 ac (60,548 SF)
Zoning code
COM
APN
15080062F
UPID
US53-0010512
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
-
Dollar General Discount Store
-
Western Union Bank Credit Union
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.63M
CAP Approach
CAP
$1.72M
Comparable Approach
Comparable
$1.68M
Blend (final)
Blend
$1.55M
Owner & transaction history
Agree LP · 5 yrs held
Agree LP
since 2020
Last sale
$1.4M
1 recorded transaction
Zoning & alternative use
COM · Smithfield, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.0M
+39.5%
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 Smithfield submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Smithfield 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
$1,590,000
ML approach
$1,625,000
CAP Approach
CAP Return
Estimation
6%
$1,860,000
6.5%
$1,715,000
7%
$1,595,000
Alternative Use
Use
Estimation
RETAIL STORES
$1,455,000
Current use
RESTAURANT
$2,030,000
Change: +40% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,380,000
Change: -5% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$1,335,000
Change: -8% · Conversion: Moderate
MEDICAL BUILDING
$1,320,000
Change: -9% · Conversion: Difficult
OFFICE BUILDING
$1,245,000
Change: -14% · Conversion: Easy
COMMERCIAL (GENERAL)
$1,190,000
Change: -18% · Conversion: Easy
Blend value · Realmo final
$1.55M
Range $1.40M – $1.71M · ±10% · vs last sale $1.35M (Aug 20 2020)
Last sale anchor
$1.35M
Aug 20 2020
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
$171 / 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
$14,736
Tax year 2024
Assessed value
$1,188,400
Assessed 2024
Previous assessed
$1,188,400
+0.0% YoY
Effective rate
1.24%
On assessed value
Assessed land
$208,890
Assessed improvement
$979,510
Land market value
$208,890
Improvement market value
$979,510
Total market value
$1,188,400
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
2018
Heating
HEAT PUMP
Cooling
EVAPORATIVE
Stories
1
Total area
9,090 SF
Lot
1.39 ac (60,548 SF)
Zoning code
COM
APN
15080062F
UPID
US53-0010512
Jurisdiction
JOHNSTON
Zoning & alternative use
COM · Smithfield, NC
Zoning COM · permitted uses
COM · Smithfield, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Smithfield. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$1.5M
RESTAURANT
Est. value
$2.0M
AUTO REPAIR, GARAGE
Est. value
$1.4M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.3M
MEDICAL BUILDING
Est. value
$1.3M
OFFICE BUILDING
Est. value
$1.2M
COMMERCIAL (GENERAL)
Est. value
$1.2M
RETAIL STORES Current
RESTAURANT
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
MEDICAL BUILDING
OFFICE BUILDING
COMMERCIAL (GENERAL)
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
2018
Heating
HEAT PUMP
Cooling
Yes
Stories
1
Lot
1.39 ac
Current owner
From public records · entity-resolved
Agree LP
Entity
Free & Clear · 5 yrs held
Mailing address
PO BOX 460389, HOUSTON, TX 77056-8389
Ownership since
2020
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
Aug 20, 2020
$1,352,000
Agree LP
Vanguard Ventures LLC
Grant Deed
—
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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