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Property profile & analytics
OFF-MARKET
Estimated value
$4,610,000
Warehouses
8505 Bailey Rd Sims, NC 27880-9772
Individually Owned
2-yr Hold
Free & Clear
Property ID
US53-4370563
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2000
Total area
52,960 SF
Lot
79.74 ac (3,473,474 SF)
APN
2751-66-2112.000
UPID
US53-4370563
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$5.46M
Comparable Approach
Comparable
$4.64M
Blend (final)
Blend
$4.61M
Owner & transaction history
Michael Jay Hocutt · 2 yrs held
Michael Jay Hocutt
since 2023
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$5.7M
+93.8%
Auto repair, garage
$5.4M
+85.5%
Office building
$5.3M
+82.9%
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 Sims submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Sims 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$5,910,000
6.5%
$5,455,000
7%
$5,065,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$2,915,000
Current use
RESTAURANT
$5,650,000
Change: +94% · Conversion: Difficult
AUTO REPAIR, GARAGE
$5,405,000
Change: +85% · Conversion: Easy
OFFICE BUILDING
$5,335,000
Change: +83% · Conversion: Difficult
COMMERCIAL (GENERAL)
$4,945,000
Change: +70% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$4,190,000
Change: +44% · Conversion: Difficult
Blend value · Realmo final
$4.61M
Range $4.15M – $5.07M · ±10%
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
$87 / 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 2021Property tax & assessments
Tax year 2021
Tax billed
$12,233
Tax year 2021
Assessed value
$3,384,724
Assessed 2024
Previous assessed
$1,627,013
+108.0% YoY
Effective rate
0.36%
On assessed value
Assessed land
$37,128
Assessed improvement
$3,347,596
Land market value
$149,094
Improvement market value
$3,347,596
Total market value
$3,496,690
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
2000
Heating
FORCED AIR
Cooling
YES
Buildings
2
Total area
52,960 SF
Lot
79.74 ac (3,473,474 SF)
APN
2751-66-2112.000
UPID
US53-4370563
Jurisdiction
WILSON
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$2.9M
RESTAURANT
Est. value
$5.7M
AUTO REPAIR, GARAGE
Est. value
$5.4M
OFFICE BUILDING
Est. value
$5.3M
COMMERCIAL (GENERAL)
Est. value
$4.9M
APARTMENT HOUSE (5+ UNITS)
Est. value
$4.2M
WAREHOUSE, STORAGE Current
RESTAURANT
AUTO REPAIR, GARAGE
OFFICE BUILDING
COMMERCIAL (GENERAL)
APARTMENT HOUSE (5+ UNITS)
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
2000
Heating
FORCED AIR
Cooling
Yes
Buildings
2
Lot
79.74 ac
Current owner
From public records · entity-resolved
Michael Jay Hocutt
Individual
Free & Clear · 2 yrs held
Mailing address
8507 BAILEY RD, SIMS, NC 27880-9772
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 11, 2023
—
Michael Jay Hocutt
Michael Jay Hocutt
Deed
related
—
May 5, 2023
—
Joey M Hocutt
James Michael Hocutt
Intrafamily Transfer
related
—
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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