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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1030 Forestville Rd Wake Forest, NC 27587-9243

    • Strip malls
    • 12,068 SF
    • 9.83 lot acres
    OFF-MARKET
    Last Sale
    Sep 21, 2021
    $22,150,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-4883932
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Publix Pharmacy at The Shoppes at Heritage Village / Pharmacy / Medical Center
    • City National Bank - Presto ATM / Atm / Bank
    • Publix Catering at The Shoppes at Heritage Village / Box Lunch Supplier / Caterer
    • Redbox / Movie Rental Kiosk / Dvd Store
    • Primo Water Refill / Bottled Water Supplier

    Property Details for 1030 Forestville Rd

    Year built
    2016
    Construction
    BRICK
    Lot size
    9.83 lot acres
    Property size
    12,068 SF
    Zone code
    NB
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    1749.02-59-7644 0446390
    APU
    1749025976440446390

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Wake Forest
    County
    Wake
    State
    North Carolina
    Longitude
    -78.5076
    Latitude
    35.9461
    CBSA code
    39580
    CBSA name
    RALEIGH-CARY, NC METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $147,241
    $3,885,135
    $8,786,170
    $12,671,305
    -
    $3,885,135
    $8,786,170
    $12,671,305

    Comparable in this City

    • Value Estimation
      $2,585,000
      13,600 SF

      927 Durham Rd

      SHOPPING CENTER, STRIP CENTER • 13,600 SF
      927 Durham Rd, Wake Forest, NC 27587-4508
      View Details
    • Value Estimation
      $3,830,000
      12,800 SF

      407 Brks Stmc

      SHOPPING CENTER, STRIP CENTER • 12,800 SF
      407 Brks Stmc, Wake Forest, NC 27587-2930
      View Details
    • Value Estimation
      $5,060,000
      17,865 SF

      3652 Rogers Rd

      SHOPPING CENTER, STRIP CENTER • 17,865 SF
      3652 Rogers Rd, Wake Forest, NC 27587-9306
      View Details
    • Value Estimation
      $2,585,000
      13,506 SF

      941 Gtwy Cmns Cir

      SHOPPING CENTER, STRIP CENTER • 13,506 SF
      941 Gtwy Cmns Cir, Wake Forest, NC 27587-6383
      View Details
    • Value Estimation
      $705,000
      4,250 SF

      12217 Capital Blvd

      SHOPPING CENTER, STRIP CENTER • 4,250 SF
      12217 Capital Blvd, Wake Forest, NC 27587-6200
      View Details
    • Value Estimation
      $8,450,000
      35,650 SF

      914 Gtwy Cmns Cir

      SHOPPING CENTER, STRIP CENTER • 35,650 SF
      914 Gtwy Cmns Cir, Wake Forest, NC 27587-5992
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      35,550 SF

      Wake Forest Shopping Center Retail

      Premier shopping center with suites available in Wake Forest.
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      Wake Forest Walmart Outparcel Land

      High-traffic location, prime development opportunity.
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      Wake Forest Retail Opportunity

      Retail spaces available in Wake Forest, North Carolina.
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      Forestville Road Commercial Outparcel

      Prime Wake Forest Retail Land, High Growth Area
      0 Forestville Rd, Wake Forest, NC 27587
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      Wake Forest Commercial Property

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      Wake Forest Car Wash Opportunity

      High-traffic location, redevelopment potential.
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    Similar Nearby for Lease

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      36,932 SF

      Wake Forest Business Center Retail

      Retail spaces available in Wake Forest business center.
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      55,300 SF

      Heritage Walk: Prime Retail Space

      7.86-acre Retail Center, 55,300 SF
      0 Forestville Rd And Foundation Dr, Wake Forest, NC 27587
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      Wake Forest Retail Space Available

      Prime Wake Forest location, multiple spaces, high visibility.
      14460 New Fls Of Neuse Rd, Wake Forest, NC 27587
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      164,790 SF

      Wake Forest Exchange: R&D Space

      Prime Wake Forest R&D space available.
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      Turn-Key Commissary Kitchen Ready Now

      Fully equipped commercial kitchen for immediate occupancy and diverse culinary operations.
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      Wake Forest Commercial Land Opportunity

      1.1-Acre Commercial Lot, Prime Location
      0 Franklin St, Wake Forest, NC 27587
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    Property Visit Statistics

    • Visits by month
      75.1k
    • Visitors by month
      40.0k
    • Avg Time on site
      23 min
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    1030 Forestville Rd
    Wake Forest, NC 27587-9243
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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