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Property profile & analytics
OFF-MARKET
Estimated value
$570,000
Warehouses
Homestead Ave, Boiling Springs, NC 28017
Individually Owned
5-yr Hold
Free & Clear
Property ID
US53-2920140
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1975
Total area
6,000 SF
Lot
6.37 ac (277,564 SF)
Zoning code
M1
APN
2972
UPID
US53-2920140
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
$680k
Comparable Approach
Comparable
$586k
Blend (final)
Blend
$570k
Owner & transaction history
Cochran Hendrick Construction · 5 yrs held
Cochran Hendrick Construction
since 2021
1 recorded transaction
Zoning & alternative use
M1 · Boiling Springs, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$825,000
+109.2%
Auto repair, garage
$740,000
+87.2%
Office building
$715,000
+81.7%
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 Boiling Springs submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Boiling Springs 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%
$735,000
6.5%
$680,000
7%
$630,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$395,000
Current use
MEDICAL BUILDING
$825,000
Change: +109% · Conversion: Difficult
AUTO REPAIR, GARAGE
$740,000
Change: +87% · Conversion: Easy
OFFICE BUILDING
$715,000
Change: +82% · Conversion: Difficult
RETAIL STORES
$545,000
Change: +39% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$470,000
Change: +19% · Conversion: Easy
Blend value · Realmo final
$570k
Range $513k – $627k · ±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
$95 / 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
$3,172
Tax year 2024
Assessed value
$291,677
Assessed 2023
Previous assessed
$291,677
+0.0% YoY
Effective rate
1.09%
On assessed value
Assessed land
$99,945
Assessed improvement
$191,732
Land market value
$99,945
Improvement market value
$191,732
Total market value
$291,677
Applied tax rate
2.0000
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
1975
Heating
HEAT PUMP
Cooling
AC.PACKAGE
Buildings
2
Stories
1
Total area
6,000 SF
Lot
6.37 ac (277,564 SF)
Zoning code
M1
APN
2972
UPID
US53-2920140
Jurisdiction
CLEVELAND
Zoning & alternative use
M1 · Boiling Springs, NC
Zoning M1 · permitted uses
M1 · Boiling Springs, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Boiling Springs. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$395,000
MEDICAL BUILDING
Est. value
$825,000
AUTO REPAIR, GARAGE
Est. value
$740,000
OFFICE BUILDING
Est. value
$715,000
RETAIL STORES
Est. value
$545,000
INDUSTRIAL (GENERAL)
Est. value
$470,000
WAREHOUSE, STORAGE Current
MEDICAL BUILDING
AUTO REPAIR, GARAGE
OFFICE BUILDING
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
1975
Heating
HEAT PUMP
Cooling
Yes
Stories
1
Buildings
2
Lot
6.37 ac
Current owner
From public records · entity-resolved
Cochran Hendrick Construction
Individual
Free & Clear · 5 yrs held
Mailing address
2227 HONEY HVN FARM RD, SHELBY, NC 28152-8142
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 26, 2021
—
Cochran Hendrick Construction
Cochran Hendrick Const LLC
Quit Claim Deed
—
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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