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Property profile & analytics
OFF-MARKET
Estimated value
$1,170,000
Distribution centers
4501 Raceway SW Dr Concord, NC 28027-8723
Individually Owned
22-yr Hold
Property ID
US53-1546306
Property summary
AI-generated overview
This 3,600-square-foot flex space in Concord, NC, offers a versatile layout perfect for various industrial uses. Located at 4501 Raceway Drive, Suite 130, this single-tenant property boasts a fully conditioned office area, two restrooms, and a spacious warehouse. The warehouse features a clear span design with ceiling heights of approximately 17 feet at the center and 16 feet at the eaves, providing ample vertical space. Access is convenient with one drive-in door. The property includes approximately six gravel parking spaces and benefits from a robust electrical system, featuring one 3-phase, 225-amp, 240V electrical panel. Built in 2000, this building sits on a one-acre lot and is zoned I-1 (Light Industrial) by the City of Concord. Its location within the Motorsports Industrial Park provides easy access to major transportation arteries, including I-85 and Highway 49, ensuring efficient logistics and convenient commutes. The property is currently vacant and ready for immediate occupancy. This is an exceptional opportunity to secure a well-located, functional industrial space in a thriving area.
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
2000
Construction
STEEL FRAME
Total area
14,400 SF
Lot
1 ac (43,560 SF)
Zoning code
I-1
APN
5518 66 8998
UPID
US53-1546306
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
-
Archery Learning Academy High School Vocational School
-
JC Building Inc. Construction Company
-
AMR Heating & Cooling, Inc. HVAC Service General Contractor
-
F.I.T. Gym & Fitness Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.30M
Blend (final)
Blend
$1.17M
Owner & transaction history
Michael S Hillis SR. · 22 yrs held
Michael S Hillis SR.
since 2004
1 recorded transaction
Zoning & alternative use
I-1 · Concord, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.9M
+28.9%
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
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
WAREHOUSE, STORAGE
$1,480,000
Current use
RETAIL STORES
$1,905,000
Change: +29% · Conversion: Moderate
Blend value · Realmo final
$1.17M
Range $1.05M – $1.29M · ±10%
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
$81 / 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
$13,250
Tax year 2024
Assessed value
$1,330,330
Assessed 2024
Previous assessed
$842,180
+58.0% YoY
Effective rate
1.00%
On assessed value
Assessed land
$209,190
Assessed improvement
$1,121,140
Land market value
$209,190
Improvement market value
$1,121,140
Total market value
$1,330,330
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
2000
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Bathrooms
4
Total area
14,400 SF
Lot
1 ac (43,560 SF)
Zoning code
I-1
APN
5518 66 8998
UPID
US53-1546306
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
$1.5M
RETAIL STORES
Est. value
$1.9M
WAREHOUSE, STORAGE Current
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
2000
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Bathrooms
4
Lot
1 ac
Current owner
From public records · entity-resolved
Michael S Hillis SR.
Individual
Mailing address
1485 BEN GRN RD, LEBANON, TN 37090-9555
Ownership since
2004
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
Feb 20, 2004
$425,000
Michael S Hillis SR.
Jaynes,harry & Janice M
Warranty Deed
$340,000 · Insurors Bank Of Tennessee
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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