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Property profile & analytics
OFF-MARKET
Estimated value
$1,220,000
Office buildings
1023 Market St Sta A Smithfield, NC 27577-3334
Entity Owned
14-yr Hold
~
Est. High Equity
Property ID
US53-2418601
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1976
Total area
10,108 SF
Lot
5.49 ac (239,144 SF)
Zoning code
OFF
APN
15077041
UPID
US53-2418601
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
by Request
Comparable Approach
Comparable
$1.07M
Blend (final)
Blend
$1.22M
Owner & transaction history
1023 West Market LLC · 14 yrs held
1023 West Market LLC
since 2011
3 recorded transactions
Zoning & alternative use
OFF · Smithfield, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.6M
+16.7%
Auto repair, garage
$1.5M
+10.9%
Neighborhood: shopping center
$1.5M
+7.0%
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 Smithfield submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Smithfield 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
OFFICE BUILDING
$1,385,000
Current use
RETAIL STORES
$1,615,000
Change: +17% · Conversion: Moderate
AUTO REPAIR, GARAGE
$1,535,000
Change: +11% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$1,480,000
Change: +7% · Conversion: Difficult
MEDICAL BUILDING
$1,470,000
Change: +6% · Conversion: Easy
COMMERCIAL (GENERAL)
$1,325,000
Change: -4% · Conversion: Easy
Blend value · Realmo final
$1.22M
Range $1.10M – $1.34M · ±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
$121 / 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
$9,611
Tax year 2024
Assessed value
$775,050
Assessed 2024
Previous assessed
$665,650
+16.4% YoY
Effective rate
1.24%
On assessed value
Assessed land
$239,690
Assessed improvement
$535,360
Land market value
$239,690
Improvement market value
$535,360
Total market value
$775,050
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1976
Heating
FORCED AIR
Cooling
EVAPORATIVE
Stories
1
Bathrooms
2
Total area
10,108 SF
Lot
5.49 ac (239,144 SF)
Zoning code
OFF
APN
15077041
UPID
US53-2418601
Jurisdiction
JOHNSTON
Zoning & alternative use
OFF · Smithfield, NC
Zoning OFF · permitted uses
OFF · Smithfield, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Smithfield. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$1.4M
RETAIL STORES
Est. value
$1.6M
AUTO REPAIR, GARAGE
Est. value
$1.5M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.5M
MEDICAL BUILDING
Est. value
$1.5M
COMMERCIAL (GENERAL)
Est. value
$1.3M
OFFICE BUILDING Current
RETAIL STORES
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
MEDICAL BUILDING
COMMERCIAL (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
1976
Heating
FORCED AIR
Cooling
Yes
Stories
1
Bathrooms
2
Lot
5.49 ac
Current owner
From public records · entity-resolved
1023 West Market LLC
Entity
Mailing address
PO BOX 708, SMITHFIELD, NC 27577-0708
Ownership since
2011
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
Sep 9, 2011
—
1023 West Market LLC
Woodruff,gordon C & Deborah C
Warranty Deed
—
—
—
Gordon C Woodruff
—
Deed Of Trust
related
$850,000 · Ks Bank
—
—
1023 West Market LLC
—
Deed Of Trust
related
$402,284 · Phyllis C Henry
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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