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Property profile & analytics
OFF-MARKET
Estimated value
$1,010,000
Warehouses
607 Elm Dr, Lexington, NC 27295-0612
Individually Owned
2-yr Hold
Property ID
US53-3894483
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
2014
Total area
1,620 SF
Lot
38.62 ac (1,682,287 SF)
Zoning code
RA2
APN
18-032-0-000-0018-A
UPID
US53-3894483
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.01M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.01M
Owner & transaction history
Hasan Kanan · 2 yrs held
Hasan Kanan
since 2024
Last sale
$1.0M
4 recorded transactions
Zoning & alternative use
RA2 · Lexington, 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 Lexington submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lexington 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
$1,010,000
ML approach
$1,010,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.01M
Range $909k – $1.11M · ±10% · vs last sale $1.01M (Feb 23 2024)
Last sale anchor
$1.01M
Feb 23 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
$623 / 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
$1,442
Tax year 2023
Assessed value
$232,500
Assessed 2023
Previous assessed
$232,500
+0.0% YoY
Effective rate
0.62%
On assessed value
Land market value
$200,820
Improvement market value
$31,680
Total market value
$232,500
Applied tax rate
18.0000
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
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
2014
Heating
NONE
Cooling
NONE
Stories
1
Total area
1,620 SF
Lot
38.62 ac (1,682,287 SF)
Zoning code
RA2
APN
18-032-0-000-0018-A
UPID
US53-3894483
Jurisdiction
DAVIDSON
Zoning & alternative use
RA2 · Lexington, NC
Zoning RA2 · permitted uses
RA2 · Lexington, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lexington. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
2014
Heating
NONE
Cooling
Yes
Stories
1
Lot
38.62 ac
Current owner
From public records · entity-resolved
Hasan Kanan
Individual
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 23, 2024
$1,010,000
Hasan Kanan
Colleen Norris Heatherly
Warranty Deed
—
Sep 6, 2022
$280,000
Colleen Norris Heatherly
Bryan J Carter
Warranty Deed
—
Apr 4, 2013
$102,500
Bryan J Carter
Carter,june C & Anita K
Warranty Deed
related
—
—
—
Bryan J Carter
—
Deed Of Trust
related
$445,000 · Charles N & Sharon F King
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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