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Property profile & analytics
OFF-MARKET
Estimated value
$2,310,000
Retail space
1002 Durham Rd Wake Forest, NC 27587-9118
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US53-5499455
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1999
Construction
METAL FRAME
Total area
13,988 SF
Lot
1.85 ac (80,586 SF)
Zoning code
NB
APN
1831.03-30-5634 0184094
UPID
US53-5499455
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
-
Oak City Studio Recording Studio
-
Rabinowitz Adam S DC Alternative Medicine Practice
-
Rebel Moves Pilates Gym & Fitness Center
-
Express POS Distributors Distribution Center Logistics Company
-
The Hemp Store Wake Forest THC & CBD (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.56M
Blend (final)
Blend
$2.31M
Owner & transaction history
Treasure Center INC · 6 yrs held
Treasure Center INC
since 2019
3 recorded transactions
Zoning & alternative use
NB · Wake Forest, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Wake Forest submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Wake Forest 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$3,340,000
Current use
OFFICE BUILDING
$3,030,000
Change: -9% · Conversion: Easy
Blend value · Realmo final
$2.31M
Range $2.08M – $2.54M · ±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
$165 / 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
$19,381
Tax year 2023
Assessed value
$1,667,908
Assessed 2023
Previous assessed
$1,667,908
+0.0% YoY
Effective rate
1.16%
On assessed value
Assessed land
$334,041
Assessed improvement
$1,333,867
Land market value
$334,041
Improvement market value
$1,333,867
Total market value
$1,667,908
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1999
Construction
METAL FRAME
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Total area
13,988 SF
Lot
1.85 ac (80,586 SF)
Zoning code
NB
APN
1831.03-30-5634 0184094
UPID
US53-5499455
Jurisdiction
WAKE
Zoning & alternative use
NB · Wake Forest, NC
Zoning NB · permitted uses
NB · Wake Forest, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Wake Forest. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$3.3M
OFFICE BUILDING
Est. value
$3.0M
RETAIL STORES Current
OFFICE BUILDING
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
1999
Construction
METAL FRAME
Heating
CENTRAL
Cooling
Yes
Stories
1
Lot
1.85 ac
Current owner
From public records · entity-resolved
Treasure Center INC
Entity
Mailing address
1725 CARPENTER FLETCHER RD, DURHAM, NC 27713-2280
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 13, 2025
—
Treasure Center INC
—
Deed
related
$1,300,000 · Benchmark Community Bank
Sep 30, 2019
$1,550,000
Treasure Center INC
Wake Forest Invs & Growth LLC
Warranty Deed
$950,000 · Benchmark Cmnty Bk
Jul 1, 2008
$1,950,000
Wake Forest Inv & Growth LLC
Jarrell Partners LLC
Warranty Deed
$1,365,000 · Suntrust Bank NA
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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