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Property profile & analytics
OFF-MARKET
Estimated value
$2,135,000
Assisted living facilities
105 Convention Dr Cary, NC 27511-4588
Individually Owned
13-yr Hold
Free & Clear
Property ID
US53-2449656
Property profile
Verified
Property type
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Year built
2016
Construction
FRAME
Total area
73,650 SF
Lot
3.52 ac (153,331 SF)
Zoning code
RMFM
APN
0773.09-17-5435 0205074
UPID
US53-2449656
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
-
Stoneridge Gracious Retirement Living Retirement Community
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.39M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.88M
Blend (final)
Blend
$2.14M
Owner & transaction history
Cary Town Blvd Retirement Resi · 13 yrs held
Cary Town Blvd Retirement Resi
since 2012
7 recorded transactions
Zoning & alternative use
RMFM · Cary, 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 Cary submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Cary 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
$1,390,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING)
$1,900,000
Current use
Blend value · Realmo final
$2.14M
Range $1.92M – $2.35M · ±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
$29 / 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
$229,583
Tax year 2023
Assessed value
$22,660,995
Assessed 2023
Previous assessed
$22,660,995
+0.0% YoY
Effective rate
1.01%
On assessed value
Assessed land
$4,284,000
Assessed improvement
$18,376,995
Land market value
$4,284,000
Improvement market value
$18,376,995
Total market value
$22,660,995
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
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Status
Off-Market
Year built
2016
Construction
FRAME
Heating
CENTRAL
Cooling
CENTRAL
Buildings
2
Stories
4
Units
126
Total area
73,650 SF
Lot
3.52 ac (153,331 SF)
Zoning code
RMFM
APN
0773.09-17-5435 0205074
UPID
US53-2449656
Jurisdiction
WAKE
Zoning & alternative use
RMFM · Cary, NC
Zoning RMFM · permitted uses
RMFM · Cary, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Cary. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING) Current
Est. value
$1.9M
HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING) Current
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
2016
Construction
FRAME
Heating
CENTRAL
Cooling
Yes
Stories
4
Buildings
2
Units
126
Lot
3.52 ac
Current owner
From public records · entity-resolved
Cary Town Blvd Retirement Resi
Individual
Free & Clear · 13 yrs held
Mailing address
9310 NE VANCOUVER MALL DR STE #200, VANCOUVER, WA 98662-8210
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2012
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 20, 2019
—
Cary Town Blvd Retirement Res
—
Deed
related
$989,960 · Federal Nat'l Mtg Assn (fnma)
Sep 12, 2017
—
Cary Town Blvd Retirement Resi
—
Grant Deed
related
$2,000,000,000 · Berkadia Com'l Mtg
May 29, 2014
—
Cary Town Blvd Retirement Resi
—
Trustees Deed
related
$13,209,000 · Wells Fargo Bk
Dec 4, 2012
$1,200,000
Cary Town Blvd Retirement Resi
Edwards,j Michael
Warranty Deed
—
Dec 3, 2010
—
Paul Stam
Edwards,rickey G & Martha
Warranty Deed
related
—
Nov 22, 2010
$33,000
Paul Stam
Edwards,rickey G & Martha
Warranty Deed
—
Mar 24, 2003
—
Rickey G Etal Edwards
Jg,cary J
Grant Deed
related
—
Oct 8, 2002
$825,000
Rickey G Etal Edwards
Edwards,rickey G
Grant Deed
related
—
—
—
Cary Town Blvd Retirement Res
—
Loan Modification
related
$989,960 · Federal Nat'l Mtg Assn (fnma)
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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