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Property profile & analytics
OFF-MARKET
Estimated value
$8,085,000
Strip malls
721 Brightleaf Blvd Smithfield, NC 27577-4383
Entity Owned
1-yr Hold
Absentee Owner
Free & Clear
Property ID
US53-1886228
Property summary
AI-generated overview
This exceptional retail property, located at 721 N Brightleaf Boulevard in Smithfield, North Carolina, presents a unique investment opportunity. The 106,083 square foot shopping center, built in 1974 and extensively renovated in 2020, offers two available suites, perfect for a variety of retail businesses. Each suite is highly adaptable, with a minimum divisible space of 1,200 square feet and a maximum contiguous space of 3,200 square feet. Currently, 4,400 square feet of space is available for lease. The property boasts ample surface parking with 472 spaces, ensuring convenient access for customers. Situated in Johnston County, the center benefits from a highly visible location on N Brightleaf Boulevard, within the 27577 zip code. The property is zoned for shopping center spaces, making it ideal for a range of retail uses. This well-maintained and updated center offers a strong foundation for immediate occupancy and future growth. The property's recent renovation ensures modern amenities and a contemporary aesthetic, attracting both tenants and customers. Don't miss this chance to secure a prime retail location in a thriving community.
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1974
Total area
45,214 SF
Lot
10.73 ac (467,399 SF)
Zoning code
COM
APN
15004024C
UPID
US53-1886228
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
-
Western Union Bank Credit Union
-
Pizazz Social Service Agency Charitable Organization
-
815 Gourmet Grill Restaurant
-
Smithfield Business Center Business Management Consultant
-
Jernigan Furniture Furniture & Home Goods Home Decor Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$8.07M
CAP Approach
CAP
$10.96M
Comparable Approach
Comparable
$6.28M
Blend (final)
Blend
$8.09M
Owner & transaction history
Pine Needles 2024 LLC · 1 yrs held
Pine Needles 2024 LLC
since 2025
Last sale
$8.2M
4 recorded transactions
Zoning & alternative use
COM · Smithfield, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source
Zoning Code Definitions
Top alternative use upside
Restaurant
$10.1M
+52.2%
Retail stores
$7.2M
+9.1%
Auto repair, garage
$6.9M
+3.7%
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
$7,810,000
ML approach
$8,070,000
CAP Approach
CAP Return
Estimation
6%
$11,865,000
6.5%
$10,955,000
7%
$10,170,000
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$6,630,000
Current use
RESTAURANT
$10,090,000
Change: +52% · Conversion: Difficult
RETAIL STORES
$7,230,000
Change: +9% · Conversion: Easy
AUTO REPAIR, GARAGE
$6,875,000
Change: +4% · Conversion: Difficult
MEDICAL BUILDING
$6,570,000
Change: -1% · Conversion: Difficult
OFFICE BUILDING
$6,200,000
Change: -7% · Conversion: Moderate
COMMERCIAL (GENERAL)
$5,930,000
Change: -11% · Conversion: Easy
Blend value · Realmo final
$8.09M
Range $7.28M – $8.89M · ±10% · vs last sale $8.23M (Jan 15 2025)
Last sale anchor
$8.23M
Jan 15 2025
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
$179 / 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
$56,424
Tax year 2024
Assessed value
$4,550,320
Assessed 2024
Previous assessed
$4,550,320
+0.0% YoY
Effective rate
1.24%
On assessed value
Assessed land
$1,801,890
Assessed improvement
$2,748,430
Land market value
$1,801,890
Improvement market value
$2,748,430
Total market value
$4,550,320
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1974
Heating
FORCED AIR
Cooling
EVAPORATIVE
Buildings
4
Stories
1
Bathrooms
15
Total area
45,214 SF
Lot
10.73 ac (467,399 SF)
Zoning code
COM
APN
15004024C
UPID
US53-1886228
Jurisdiction
JOHNSTON
Zoning & alternative use
COM · Smithfield, NCZoning COM · permitted uses
COM · Smithfield, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
Zoning Code Definitions
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$6.6M
RESTAURANT
Est. value
$10.1M
RETAIL STORES
Est. value
$7.2M
AUTO REPAIR, GARAGE
Est. value
$6.9M
MEDICAL BUILDING
Est. value
$6.6M
OFFICE BUILDING
Est. value
$6.2M
COMMERCIAL (GENERAL)
Est. value
$5.9M
NEIGHBORHOOD: SHOPPING CENTER Current
RESTAURANT
RETAIL STORES
AUTO REPAIR, GARAGE
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
1974
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
4
Bathrooms
15
Lot
10.73 ac
Current owner
From public records · entity-resolved
Pine Needles 2024 LLC
Entity
Free & Clear · 1 yrs held
Mailing address
101 S RAIFORD ST #200, SELMA, NC 27576-3154
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
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
Jan 15, 2025
$8,232,500
Pine Needles 2024 LLC
Patando II LLC
Special Warranty Deed
—
Nov 1, 2022
—
S&s Java Enterprises Smithfield LLC
Patando II LLC
Lease
—
Nov 17, 2021
—
Patando II LLC
—
Deed
related
$4,548,000 · Ks Bank INC
Oct 31, 2017
$3,813,000
Patando II LLC
Johnston Properties INC
Special Warranty Deed
$2,800,000 · Ks Bank INC
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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