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Property profile & analytics
OFF-MARKET
Estimated value
$2,945,000
Garden apartment buildings
1065 Ridgeway Dr Kannapolis, NC 28083
Entity Owned
15-yr Hold
Property ID
US53-2831822
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
2012
Construction
WOOD
Total area
22,472 SF
Lot
11.16 ac (486,130 SF)
Zoning code
R8
APN
5623 24 3160
UPID
US53-2831822
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
-
Forest Park Crossing Apartment Complex
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.66M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.95M
Owner & transaction history
Forest Park Crossing LLC · 15 yrs held
Forest Park Crossing LLC
since 2011
5 recorded transactions
Zoning & alternative use
R8 · Kannapolis, 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 Kannapolis submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Kannapolis 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%
$3,960,000
6.5%
$3,660,000
7%
$3,395,000
Blend value · Realmo final
$2.95M
Range $2.65M – $3.24M · ±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
$131 / 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
$49,144
Tax year 2024
Assessed value
$4,327,950
Assessed 2024
Previous assessed
$2,684,130
+61.2% YoY
Effective rate
1.14%
On assessed value
Assessed land
$419,620
Assessed improvement
$3,908,330
Land market value
$419,620
Improvement market value
$3,908,330
Total market value
$4,327,950
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
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Status
Off-Market
Year built
2012
Construction
WOOD
Heating
HEAT PUMP
Cooling
CENTRAL
Buildings
5
Stories
1
Units
16
Total area
22,472 SF
Lot
11.16 ac (486,130 SF)
Zoning code
R8
APN
5623 24 3160
UPID
US53-2831822
Jurisdiction
CABARRUS
Zoning & alternative use
R8 · Kannapolis, NC
Zoning R8 · permitted uses
R8 · Kannapolis, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Kannapolis. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
2012
Construction
WOOD
Heating
HEAT PUMP
Cooling
Yes
Stories
1
Buildings
5
Units
16
Lot
11.16 ac
Current owner
From public records · entity-resolved
Forest Park Crossing LLC
Entity
Mailing address
PO BOX 160, AYNOR, SC 29511-0160
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 28, 2011
—
Forest Park Crossing LLC
—
Trustees Deed
related
$5,694,000 · Branch Banking & Trust Co
Jun 3, 2011
$418,500
Forest Park Crossing LLC
Douglas Co LLC
Warranty Deed
—
—
—
Forest Park Crossing LLC
—
Deed Of Trust
related
$847,914 · Florida Housing Finance Agency
—
—
Forest Park Crossing LLC
—
Deed Of Trust
related
$600,000 · Community Investment Corp Nc
—
—
Forest Park Crossing LLC
—
Deed Of Trust
related
$112,000 · Prosperity Unlimited INC
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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