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Property profile & analytics
OFF-MARKET
Estimated value
$810,000
Office buildings
103 Salem St Apex, NC 27502-1427
Entity Owned
12-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US53-5682286
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1920
Construction
BRICK
Total area
3,950 SF
Lot
0.05 ac (2,178 SF)
Zoning code
B2
APN
0742.18-40-0919 0056942
UPID
US53-5682286
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
-
The Perky Lady (Bike/Boat/Book/etc) Store Clothing & Fashion Store
-
Keepin' It Collective Clothing Store
-
KIC Unlimited, LLC Clothing Store
-
Mens Extras Hair Salon
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$995k
Comparable Approach
Comparable
$740k
Blend (final)
Blend
$810k
Owner & transaction history
Saho Properties LLC · 12 yrs held
Saho Properties LLC
since 2013
Last sale
$22,000
5 recorded transactions
Zoning & alternative use
B2 · Apex, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.3M
+75.6%
Medical building
$1.3M
+71.5%
Warehouse, storage
$955,000
+27.7%
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 Apex submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Apex 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%
$1,080,000
6.5%
$995,000
7%
$925,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$750,000
Current use
COMMERCIAL (GENERAL)
$1,315,000
Change: +76% · Conversion: Easy
MEDICAL BUILDING
$1,285,000
Change: +72% · Conversion: Easy
WAREHOUSE, STORAGE
$955,000
Change: +28% · Conversion: Difficult
RETAIL STORES
$855,000
Change: +14% · Conversion: Moderate
Blend value · Realmo final
$810k
Range $729k – $891k · ±10% · vs last sale $22k (Nov 7 2024)
Last sale anchor
$22k
Nov 7 2024
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
$205 / 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
$7,577
Tax year 2023
Assessed value
$690,668
Assessed 2023
Previous assessed
$690,668
+0.0% YoY
Effective rate
1.10%
On assessed value
Assessed land
$60,984
Assessed improvement
$629,684
Land market value
$60,984
Improvement market value
$629,684
Total market value
$690,668
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
1920
Construction
BRICK
Heating
CENTRAL
Cooling
CENTRAL
Stories
2
Total area
3,950 SF
Lot
0.05 ac (2,178 SF)
Zoning code
B2
APN
0742.18-40-0919 0056942
UPID
US53-5682286
Jurisdiction
WAKE
Zoning & alternative use
B2 · Apex, NC
Zoning B2 · permitted uses
B2 · Apex, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Apex. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$750,000
COMMERCIAL (GENERAL)
Est. value
$1.3M
MEDICAL BUILDING
Est. value
$1.3M
WAREHOUSE, STORAGE
Est. value
$955,000
RETAIL STORES
Est. value
$855,000
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
MEDICAL BUILDING
WAREHOUSE, STORAGE
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
1920
Construction
BRICK
Heating
CENTRAL
Cooling
Yes
Stories
2
Lot
0.05 ac
Current owner
From public records · entity-resolved
Saho Properties LLC
Entity
Mailing address
209 SIR WALKER LN, CARY, NC 27519-5511
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2013
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
Aug 16, 2013
—
Saho Properties LLC
Saho Properties LLC
Quit Claim Deed
related
$94,432 · Branch Banking & Trust Co
May 25, 2010
$300,000
Saho Prperties LLC
Capital Auto LLC
Warranty Deed
—
Nov 24, 2009
—
Capital Auto LLC
Jelokhani,saba
Warranty Deed
related
—
Jun 29, 2007
$300,000
Houmon Mokry
Jelokhani Properties INC
Warranty Deed
—
Dec 14, 2004
$270,000
Jelokhani Properties INC
Triangle Youth For Christ INC
Warranty Deed
$220,000 · Branch Banking & Trust Co
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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