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Property profile & analytics
OFF-MARKET
Estimated value
$4,015,000
Warehouses
601 Market St Ste A Smithfield, NC 27577-3310
Individually Owned
20-yr Hold
Free & Clear
Property ID
US53-1817661
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1987
Total area
42,000 SF
Lot
7.61 ac (331,492 SF)
Zoning code
COM
APN
15076022
UPID
US53-1817661
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
-
Johnston County Sch Facility High School
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$5.31M
Comparable Approach
Comparable
$4.03M
Blend (final)
Blend
$4.02M
Owner & transaction history
Johnston Cnty Board Of Education · 20 yrs held
Johnston Cnty Board Of Education
since 2005
1 recorded transaction
Zoning & alternative use
COM · Smithfield, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$6.4M
+71.5%
Neighborhood: shopping center
$6.2M
+65.4%
Medical building
$6.1M
+64.0%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$5,750,000
6.5%
$5,305,000
7%
$4,925,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$3,725,000
Current use
AUTO REPAIR, GARAGE
$6,390,000
Change: +72% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$6,160,000
Change: +65% · Conversion: Moderate
MEDICAL BUILDING
$6,105,000
Change: +64% · Conversion: Difficult
OFFICE BUILDING
$5,760,000
Change: +55% · Conversion: Difficult
COMMERCIAL (GENERAL)
$5,510,000
Change: +48% · Conversion: Difficult
Blend value · Realmo final
$4.02M
Range $3.61M – $4.42M · ±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
$96 / 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
Assessed value
$2,049,710
Assessed 2024
Previous assessed
$2,049,710
+0.0% YoY
Assessed land
$318,600
Assessed improvement
$1,731,110
Land market value
$318,600
Improvement market value
$1,731,110
Total market value
$2,049,710
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1987
Heating
HEAT PUMP
Cooling
CENTRAL
Buildings
2
Stories
1
Total area
42,000 SF
Lot
7.61 ac (331,492 SF)
Zoning code
COM
APN
15076022
UPID
US53-1817661
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
WAREHOUSE, STORAGE Current
Est. value
$3.7M
AUTO REPAIR, GARAGE
Est. value
$6.4M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$6.2M
MEDICAL BUILDING
Est. value
$6.1M
OFFICE BUILDING
Est. value
$5.8M
COMMERCIAL (GENERAL)
Est. value
$5.5M
WAREHOUSE, STORAGE Current
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
1987
Heating
HEAT PUMP
Cooling
Yes
Stories
1
Buildings
2
Lot
7.61 ac
Current owner
From public records · entity-resolved
Johnston Cnty Board Of Education
Individual
Free & Clear · 20 yrs held
Mailing address
PO BOX 1336, SMITHFIELD, NC 27577-1336
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2005
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 18, 2005
$1,800,000
Johnston Cnty Board Of Education
Barefoot & Mclamb Leasing LLC
Warranty 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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