Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$1,710,000
Warehouses
815 Gretel NW Ave Concord, NC 28027-4733
Entity Owned
5-yr Hold
Free & Clear
Property ID
US53-5256436
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2007
Construction
STEEL FRAME
Total area
10,180 SF
Lot
0.71 ac (30,928 SF)
Zoning code
I-2
APN
5621 04 7185
UPID
US53-5256436
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
-
City Electric Supply Concord Building Supply Electrical Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.73M
CAP Approach
CAP
$1.87M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.71M
Owner & transaction history
Spirit Master Funding X LLC · 5 yrs held
Spirit Master Funding X LLC
since 2020
Last sale
$1.7M
5 recorded transactions
Zoning & alternative use
I-2 · Concord, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The I-2 District is established to provide for areas of heavy and concentrated fabrication, manufacturing and industrial uses which are suitable based upon adjacent land uses, access to transportation and the availability of public services and facilities. It is the intent of this district to provide an environment for industries that is unencumbered by near…
Zone name
General Industrial District
General category
INDUSTRIAL
Zone area
5,136.83 ac
Source
Realmo
Top alternative use upside
Commercial (general)
$2.8M
+163.7%
Medical building
$2.3M
+115.4%
Auto repair, garage
$1.5M
+40.2%
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 Concord submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Concord 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
$1,685,000
ML approach
$1,730,000
CAP Approach
CAP Return
Estimation
6%
$2,025,000
6.5%
$1,870,000
7%
$1,735,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$1,045,000
Current use
COMMERCIAL (GENERAL)
$2,755,000
Change: +164% · Conversion: Difficult
MEDICAL BUILDING
$2,250,000
Change: +115% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,465,000
Change: +40% · Conversion: Easy
RETAIL STORES
$1,345,000
Change: +29% · Conversion: Moderate
Blend value · Realmo final
$1.71M
Range $1.54M – $1.88M · ±10% · vs last sale $1.72M (Nov 25 2020)
Last sale anchor
$1.72M
Nov 25 2020
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
$168 / 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
$7,817
Tax year 2024
Assessed value
$893,940
Assessed 2024
Previous assessed
$640,760
+39.5% YoY
Effective rate
0.87%
On assessed value
Assessed land
$148,280
Assessed improvement
$745,660
Land market value
$148,280
Improvement market value
$745,660
Total market value
$893,940
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
WAREHOUSE, STORAGE
Status
Off-Market
Year built
2007
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Bathrooms
4
Total area
10,180 SF
Lot
0.71 ac (30,928 SF)
Zoning code
I-2
APN
5621 04 7185
UPID
US53-5256436
Jurisdiction
CABARRUS
Zoning & alternative use
I-2 · Concord, NCZoning I-2 · permitted uses
I-2 · Concord, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The I-2 District is established to provide for areas of heavy and concentrated fabrication, manufacturing and industrial uses which are suitable based upon adjacent land uses, access to transportation and the availability of public services and facilities. It is the intent of this district to provide an environment for industries that is unencumbered by nearby residential or commercial development. I-2 Districts should be located in areas where conflicts with other uses can be minimized to promote orderly transitions and buffers between uses.
Zone name
General Industrial District
General category
INDUSTRIAL
Zone area
5,136.83 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$1.0M
COMMERCIAL (GENERAL)
Est. value
$2.8M
MEDICAL BUILDING
Est. value
$2.3M
AUTO REPAIR, GARAGE
Est. value
$1.5M
RETAIL STORES
Est. value
$1.3M
WAREHOUSE, STORAGE Current
COMMERCIAL (GENERAL)
MEDICAL BUILDING
AUTO REPAIR, GARAGE
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
2007
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Bathrooms
4
Lot
0.71 ac
Current owner
From public records · entity-resolved
Spirit Master Funding X LLC
Entity
Free & Clear · 5 yrs held
Mailing address
2727 N HARWOOD ST STE #300, DALLAS, TX 75201-2407
Ownership since
2020
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
Nov 25, 2020
$1,715,000
Spirit Master Funding X LLC
City Electric Supply Co
Warranty Deed
—
May 13, 2019
—
City Electric Supply Co
—
Deed
related
$340,000 · Suntrust Bk
Mar 28, 2006
$140,000
Saxon Real Estate INC
Graham Construction Co INC
Warranty Deed
—
Apr 30, 2004
$742,000
Graham Construction Co INC
Patel,vallabhbhai N & Hansa V
Warranty Deed
$758,000 · F & M Bank
—
—
City Electric Supply Co
—
Deed Of Trust
related
$340,000 · Suntrust Bk
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 815 Gretel NW Ave?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
