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Property profile & analytics
OFF-MARKET
Estimated value
$830,000
Manufacturing properties
794 American Way Lexington, NC 27295-1156
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US53-2422390
Property summary
AI-generated overview
This exceptional flex space, located at 794 American Way in Lexington, North Carolina, offers 12,000 square feet of versatile space ideal for a variety of businesses. Situated on a 4.57-acre lot in Davidson County, this property boasts convenient access to major transportation arteries, including Interstates 85 and 40, ensuring seamless logistics and efficient commutes. The building features clear span construction, providing maximum flexibility for layout and operations. Tenants will benefit from a drive-in door and access to a shared loading dock, facilitating easy loading and unloading of goods. The space is currently available for tenant build-out, with completion anticipated in the first quarter of 2025. This presents a unique opportunity to customize the space to perfectly meet your specific business needs. The lease rate is $9.00 per square foot, NNN. The property is suitable for businesses requiring 6,000 to 12,000 square feet of space. This prime location in Lexington, NC, offers a blend of accessibility and functionality, making it an attractive option for businesses seeking a modern and efficient workspace. Contact us today to learn more about this exciting pre-leasing opportunity.
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
2006
Total area
12,112 SF
Lot
4.57 ac (199,069 SF)
Zoning code
LI
APN
11-317-E-000-0007
UPID
US53-2422390
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
-
Pro Plumbing Air & Electric: Plumbing, HVAC, Septic Tank, & Electrical Services Plumbing Service General Contractor
-
Honest Flower Department Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.08M
Comparable Approach
Comparable
$875k
Blend (final)
Blend
$830k
Owner & transaction history
794 American Way LLC · 5 yrs held
794 American Way LLC
since 2021
Last sale
$780,000
5 recorded transactions
Zoning & alternative use
LI · Lexington, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$960,000
+58.1%
Auto repair, garage
$810,000
+33.6%
Commercial (general)
$720,000
+18.9%
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
$635,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$1,170,000
6.5%
$1,080,000
7%
$1,005,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$605,000
Current use
OFFICE BUILDING
$960,000
Change: +58% · Conversion: Difficult
AUTO REPAIR, GARAGE
$810,000
Change: +34% · Conversion: Easy
COMMERCIAL (GENERAL)
$720,000
Change: +19% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$720,000
Change: +19% · Conversion: Difficult
WAREHOUSE, STORAGE
$690,000
Change: +14% · Conversion: Easy
RETAIL STORES
$625,000
Change: +3% · Conversion: Moderate
Blend value · Realmo final
$830k
Range $747k – $913k · ±10% · vs last sale $780k (Jan 25 2021)
Last sale anchor
$780k
Jan 25 2021
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
$69 / 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
$4,264
Tax year 2023
Assessed value
$655,990
Assessed 2023
Previous assessed
$655,990
+0.0% YoY
Effective rate
0.65%
On assessed value
Land market value
$125,680
Improvement market value
$530,310
Total market value
$655,990
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
2006
Heating
FORCED AIR
Cooling
NONE
Stories
1
Bathrooms
2
Total area
12,112 SF
Lot
4.57 ac (199,069 SF)
Zoning code
LI
APN
11-317-E-000-0007
UPID
US53-2422390
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
INDUSTRIAL (GENERAL) Current
Est. value
$605,000
OFFICE BUILDING
Est. value
$960,000
AUTO REPAIR, GARAGE
Est. value
$810,000
COMMERCIAL (GENERAL)
Est. value
$720,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$720,000
WAREHOUSE, STORAGE
Est. value
$690,000
RETAIL STORES
Est. value
$625,000
INDUSTRIAL (GENERAL) Current
OFFICE BUILDING
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
APARTMENT HOUSE (5+ UNITS)
WAREHOUSE, STORAGE
RETAIL STORES
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
2006
Heating
FORCED AIR
Cooling
Yes
Stories
1
Bathrooms
2
Lot
4.57 ac
Current owner
From public records · entity-resolved
794 American Way LLC
Entity
Mailing address
600 HWY 801ST S, ADVANCE, NC 27006
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2021
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
Jan 25, 2021
$780,000
794 American Way LLC
Garrison Investment LLC
Special Warranty Deed
$624,000 · Cogent Bank
Dec 10, 2010
—
Garrison Investment LLC
Garrison Investment LLC
Quit Claim Deed
—
Dec 19, 2005
—
Garrison Investment LLC
Garrison,carl W
Quit Claim Deed
related
$145,000 · Fidelity Bk/mi
Jun 8, 2005
$105,000
Carl W Garrison
Nicholson,danny R SR & Patricia L
Warranty Deed
—
—
—
Garrison Investment LLC
—
Deed Of Trust
related
$480,000 · 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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