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Property profile & analytics
OFF-MARKET
Estimated value
$14,700,000
Flex space
607 Meacham Rd, Statesville, NC 28677-2979
Entity Owned
3-yr Hold
Free & Clear
Property ID
US53-2298063
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
1970
Construction
STEEL FRAME
Total area
311,284 SF
Lot
27.3 ac (1,189,188 SF)
Zoning code
LI
APN
4724-99-3205.000
UPID
US53-2298063
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
-
Dura Supreme Cabinetry Industrial Manufacturer Production Facility
-
Ashley Furniture Distribution Center Warehouse & Storage
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$14.73M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$12.09M
Blend (final)
Blend
$14.70M
Owner & transaction history
Gtis Af LLC · 3 yrs held
Gtis Af LLC
since 2023
Last sale
$14.6M
7 recorded transactions
Zoning & alternative use
LI · Statesville, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$23.0M
+6.5%
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 Statesville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Statesville 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
$14,875,000
ML approach
$14,730,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$21,555,000
Current use
AUTO REPAIR, GARAGE
$22,965,000
Change: +7% · Conversion: Easy
WAREHOUSE, STORAGE
$18,475,000
Change: -14% · Conversion: Easy
Blend value · Realmo final
$14.70M
Range $13.23M – $16.17M · ±10% · vs last sale $14.60M (Apr 19 2023)
Last sale anchor
$14.60M
Apr 19 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
$47 / 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
$53,837
Tax year 2023
Assessed value
$5,290,600
Assessed 2023
Previous assessed
$3,535,300
+49.7% YoY
Effective rate
1.02%
On assessed value
Assessed land
$873,600
Assessed improvement
$4,417,000
Land market value
$873,600
Improvement market value
$4,417,000
Total market value
$5,290,600
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
Flex space
Use group
LIGHT INDUSTRIAL
Status
Off-Market
Year built
1970
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
NONE
Stories
1
Rooms
1
Bathrooms
1
Total area
311,284 SF
Lot
27.3 ac (1,189,188 SF)
Zoning code
LI
APN
4724-99-3205.000
UPID
US53-2298063
Jurisdiction
IREDELL
Zoning & alternative use
LI · Statesville, NC
Zoning LI · permitted uses
LI · Statesville, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Statesville. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$21.6M
AUTO REPAIR, GARAGE
Est. value
$23.0M
WAREHOUSE, STORAGE
Est. value
$18.5M
INDUSTRIAL (GENERAL) Current
AUTO REPAIR, GARAGE
WAREHOUSE, STORAGE
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
1970
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Rooms
1
Bathrooms
1
Lot
27.3 ac
Current owner
From public records · entity-resolved
Gtis Af LLC
Entity
Free & Clear · 3 yrs held
Mailing address
1 ASHLEY WAY, ARCADIA, WI 54612-1218
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
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 19, 2023
—
Gtis Af LLC
Statesville Rta Lb LLC
Warranty Deed
—
Apr 19, 2023
$14,600,000
Gtis Af LLC
Statesville Rta Lb LLC
Special Warranty Deed
$11,700,000 · Carter Bank & Trust
Sep 5, 2019
$2,394,000
Statesville Rta Lb LLC
Homestar North America LLC
Grant Deed
—
Dec 4, 2014
—
Homestar North America LLC
—
Grant Deed
related
$2,000,000 · Branch Bk&tr
Oct 11, 2013
$2,674,000
Homestar North America LLC
Talon Systems USA INC
Quit Claim Deed
related
—
Sep 17, 2002
$2,000,000
Loujay Associates
Shelby,williams
Grant Deed
—
—
—
Loujay Associates
—
Deed Of Trust
related
$750,000 · Piedmont Bank
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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