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Property profile & analytics
OFF-MARKET
Estimated value
$755,000
Warehouses
729 American Way, Lexington, NC 27295-1156
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US53-2344266
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
2010
Total area
10,656 SF
Lot
4 ac (174,240 SF)
Zoning code
LI
APN
11-317-E-000-0001-A
UPID
US53-2344266
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
-
Paragon Automotive Design Auto Repair Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$820k
Blend (final)
Blend
$755k
Owner & transaction history
K L Y LLC · 4 yrs held
K L Y LLC
since 2022
Last sale
$500,000
5 recorded transactions
Zoning & alternative use
LI · Lexington, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$845,000
+39.2%
Auto repair, garage
$715,000
+17.6%
Commercial (general)
$635,000
+4.7%
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 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
$490,000
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
$605,000
Current use
OFFICE BUILDING
$845,000
Change: +39% · Conversion: Difficult
AUTO REPAIR, GARAGE
$715,000
Change: +18% · Conversion: Easy
COMMERCIAL (GENERAL)
$635,000
Change: +5% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$635,000
Change: +5% · Conversion: Difficult
RETAIL STORES
$550,000
Change: -9% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$535,000
Change: -12% · Conversion: Easy
Blend value · Realmo final
$755k
Range $680k – $831k · ±10% · vs last sale $500k (Jun 8 2022)
Last sale anchor
$500k
Jun 8 2022
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
$71 / 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
$3,520
Tax year 2023
Assessed value
$541,560
Assessed 2023
Previous assessed
$541,560
+0.0% YoY
Effective rate
0.65%
On assessed value
Land market value
$120,000
Improvement market value
$421,560
Total market value
$541,560
Applied tax rate
11.0000
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
2010
Heating
FORCED AIR
Cooling
CENTRAL
Stories
2
Bathrooms
3
Total area
10,656 SF
Lot
4 ac (174,240 SF)
Zoning code
LI
APN
11-317-E-000-0001-A
UPID
US53-2344266
Jurisdiction
DAVIDSON
Zoning & alternative use
LI · Lexington, NC
Zoning LI · permitted uses
LI · 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.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$605,000
OFFICE BUILDING
Est. value
$845,000
AUTO REPAIR, GARAGE
Est. value
$715,000
COMMERCIAL (GENERAL)
Est. value
$635,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$635,000
RETAIL STORES
Est. value
$550,000
INDUSTRIAL (GENERAL)
Est. value
$535,000
WAREHOUSE, STORAGE Current
OFFICE BUILDING
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
APARTMENT HOUSE (5+ UNITS)
RETAIL STORES
INDUSTRIAL (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
2010
Heating
FORCED AIR
Cooling
Yes
Stories
2
Bathrooms
3
Lot
4 ac
Current owner
From public records · entity-resolved
K L Y LLC
Entity
Mailing address
177 CANOE LN, LEXINGTON, NC 27295-8645
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 13, 2023
—
K L Y LLC
—
Deed
related
$350,000 · The Fidelity Bank
Jun 8, 2022
$500,000
K L Y LLC
Ct Wagner LLC
Warranty Deed
—
Jun 8, 2022
—
North Davidson Services LLC
Ct Wagner LLC
Release/satis. Of Agrem. Of Sale (leasehold)
related
—
Jan 11, 2019
—
Ct Wagner LLC
—
Deed
related
$325,929 · Bank Of The Ozarks
Jul 14, 2008
$120,000
Ct Wagner LLC
Nicholson,danny R SR & Patricia L
Warranty Deed
$106,000 · Bank Of North Carolina
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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