Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$4,690,000
Warehouses
1051 Doctor Calvin Jones Hwy Wake Forest, NC 27587-8292
Entity Owned
20-yr Hold
~
Est. High Equity
Property ID
US53-1037863
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
2007
Construction
METAL FRAME
Total area
25,500 SF
Lot
7.76 ac (338,026 SF)
Zoning code
HB
APN
1840.08-98-2457 0296874
UPID
US53-1037863
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
$3.83M
Comparable Approach
Comparable
$5.59M
Blend (final)
Blend
$4.69M
Owner & transaction history
Heritage Self Storage LLC · 20 yrs held
Heritage Self Storage LLC
since 2005
5 recorded transactions
Zoning & alternative use
HB · Wake Forest, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$6.1M
+26.9%
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%
$4,150,000
6.5%
$3,830,000
7%
$3,555,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$4,800,000
Current use
RETAIL STORES
$6,090,000
Change: +27% · Conversion: Moderate
Blend value · Realmo final
$4.69M
Range $4.22M – $5.16M · ±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
$184 / 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
$89,888
Tax year 2024
Assessed value
$8,804,324
Assessed 2024
Previous assessed
$8,804,324
+0.0% YoY
Effective rate
1.02%
On assessed value
Assessed land
$3,515,470
Assessed improvement
$5,288,854
Land market value
$3,515,470
Improvement market value
$5,288,854
Total market value
$8,804,324
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
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
2007
Construction
METAL FRAME
Heating
NONE
Cooling
NONE
Stories
1
Units
391
Rooms
5
Bathrooms
1
Total area
25,500 SF
Lot
7.76 ac (338,026 SF)
Zoning code
HB
APN
1840.08-98-2457 0296874
UPID
US53-1037863
Jurisdiction
WAKE
Zoning & alternative use
HB · Wake Forest, NC
Zoning HB · permitted uses
HB · 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
WAREHOUSE, STORAGE Current
Est. value
$4.8M
RETAIL STORES
Est. value
$6.1M
WAREHOUSE, STORAGE Current
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
2007
Construction
METAL FRAME
Heating
NONE
Cooling
Yes
Stories
1
Units
391
Rooms
5
Bathrooms
1
Lot
7.76 ac
Current owner
From public records · entity-resolved
Heritage Self Storage LLC
Entity
Mailing address
PO BOX 569, WAKE FOREST, NC 27588-0569
Ownership since
2005
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 29, 2018
—
Heritage Self Storage LLC
—
Deed
related
$1,125,000 · Fidelity Bk
Nov 29, 2005
—
Heritage Self Storage LLC
Ammons,andrew L & Jeanette F
Warranty Deed
related
—
—
—
Heritage Self Storage LLC
—
Deed Of Trust
related
$2,650,000 · Wells Fargo Bank
—
—
Heritage Self Storage LLC
—
Deed Of Trust
related
$1,125,000 · Fidelity Bk
—
—
Heritage Self Storage LLC
—
Deed Of Trust
related
$2,969,612 · Capital 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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 1051 Doctor Calvin Jones Hwy?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
