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Property profile & analytics
OFF-MARKET
Estimated value
$1,910,000
Distribution centers
4486 Raceway SW Dr Concord, NC 28027-8979
Entity Owned
2-yr Hold
Property ID
US53-1046509
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
1999
Construction
STEEL FRAME
Total area
11,303 SF
Lot
1 ac (43,560 SF)
Zoning code
I-1
APN
5518 77 6148
UPID
US53-1046509
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
-
FlawTech Industrial Manufacturer Production Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.91M
CAP Approach
CAP
$2.08M
Comparable Approach
Comparable
$1.66M
Blend (final)
Blend
$1.91M
Owner & transaction history
Red Truck LLC · 2 yrs held
Red Truck LLC
since 2023
Last sale
$1.9M
7 recorded transactions
Zoning & alternative use
I-1 · Concord, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$3.1M
+163.7%
Medical building
$2.5M
+115.4%
Auto repair, garage
$1.6M
+40.2%
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 Concord submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Concord 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
$1,935,000
ML approach
$1,905,000
CAP Approach
CAP Return
Estimation
6%
$2,250,000
6.5%
$2,075,000
7%
$1,930,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$1,160,000
Current use
COMMERCIAL (GENERAL)
$3,060,000
Change: +164% · Conversion: Difficult
MEDICAL BUILDING
$2,500,000
Change: +115% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,625,000
Change: +40% · Conversion: Easy
RETAIL STORES
$1,495,000
Change: +29% · Conversion: Moderate
Blend value · Realmo final
$1.91M
Range $1.72M – $2.10M · ±10% · vs last sale $1.90M (Dec 12 2023)
Last sale anchor
$1.90M
Dec 12 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
$169 / 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
$16,934
Tax year 2024
Assessed value
$1,700,200
Assessed 2024
Previous assessed
$826,750
+105.6% YoY
Effective rate
1.00%
On assessed value
Assessed land
$209,190
Assessed improvement
$1,491,010
Land market value
$209,190
Improvement market value
$1,491,010
Total market value
$1,700,200
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
1999
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
NONE
Stories
1
Bathrooms
2
Total area
11,303 SF
Lot
1 ac (43,560 SF)
Zoning code
I-1
APN
5518 77 6148
UPID
US53-1046509
Jurisdiction
CABARRUS
Zoning & alternative use
I-1 · Concord, NC
Zoning I-1 · permitted uses
I-1 · Concord, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Concord. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$1.2M
COMMERCIAL (GENERAL)
Est. value
$3.1M
MEDICAL BUILDING
Est. value
$2.5M
AUTO REPAIR, GARAGE
Est. value
$1.6M
RETAIL STORES
Est. value
$1.5M
WAREHOUSE, STORAGE Current
COMMERCIAL (GENERAL)
MEDICAL BUILDING
AUTO REPAIR, GARAGE
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
1999
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Bathrooms
2
Lot
1 ac
Current owner
From public records · entity-resolved
Red Truck LLC
Entity
Mailing address
4486 RACEWAY DR SW, CONCORD, NC 28027-8979
Mailing matches property
Yes
Owner-occupied
Yes
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
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 12, 2023
$1,900,000
Red Truck LLC
Aaron Pherigo
Warranty Deed
$1,606,500 · Aaron Pherigo
Jan 5, 2009
—
Aaron Pherigo
Pherigo,george
Quit Claim Deed
related
—
Apr 17, 2007
—
George Pherigo
Lucky Ladys Co LLC
Warranty Deed
related
—
Mar 20, 2003
—
Lucky Ladys Co LLC
Pherigo,jean E
Grant Deed
related
—
—
—
Aaron Pherigo
—
Deed Of Trust
related
$415,000 · Wachovia Bank NA
—
—
Pherigo,aaron
—
Deed Of Trust
related
$70,000 · Bank Of The Carolinas
—
—
Lucky Ladys Co LLC
—
Deed Of Trust
related
$354,500 · Bank Of The Carolinas
—
—
Aaron Pherigo
—
Deed Of Trust
related
$150,000 · Bank Of The Carolinas
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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