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Property profile & analytics
OFF-MARKET
Estimated value
$3,060,000
Medical Office Space
1070 Forestville Rd Wake Forest, NC 27587-9361
Entity Owned
2-yr Hold
Free & Clear
Property ID
US53-4756976
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2019
Construction
BRICK
Total area
4,036 SF
Lot
1.15 ac (50,094 SF)
Zoning code
NB
APN
1749.02-59-7079 0446392
UPID
US53-4756976
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
-
Forestville Road Dental Care Dental Office
-
Deric A. Lembree, DDS Dental Office
-
Trishna G. Patel, DDS Dental Office
-
Deric Alexander Lembree Dental Office
-
Matthew Ryan Lee Dental Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.06M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.06M
Owner & transaction history
1070 Forestville LLC · 2 yrs held
1070 Forestville LLC
since 2024
Last sale
$3.1M
3 recorded transactions
Zoning & alternative use
NB · Wake Forest, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The Neighborhood Business District is established as a district in which the principle use of land is for retail trade and services purposes of a lower intensity than the Highway Business (HB) District. Such districts are generally located near residential areas and cater to the everyday needs of nearby residential neighborhoods, stressing accessibility by a…
Zone name
Neighborhood Business
General category
COMMERCIAL
Zone area
140.74 ac
Source
Realmo
Top alternative use upside
Neighborhood: shopping center
$2.2M
+69.6%
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
$3,060,000
ML approach
$3,060,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$2,225,000
Change: +70% · Conversion: Difficult
Blend value · Realmo final
$3.06M
Range $2.75M – $3.37M · ±10% · vs last sale $3.06M (Jan 25 2024)
Last sale anchor
$3.06M
Jan 25 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
$758 / 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
$19,868
Tax year 2023
Assessed value
$1,709,798
Assessed 2023
Previous assessed
$1,709,798
+0.0% YoY
Effective rate
1.16%
On assessed value
Assessed land
$826,551
Assessed improvement
$883,247
Land market value
$826,551
Improvement market value
$883,247
Total market value
$1,709,798
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
2019
Construction
BRICK
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Total area
4,036 SF
Lot
1.15 ac (50,094 SF)
Zoning code
NB
APN
1749.02-59-7079 0446392
UPID
US53-4756976
Jurisdiction
WAKE
Zoning & alternative use
NB · Wake Forest, NCZoning NB · permitted uses
NB · Wake Forest, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The Neighborhood Business District is established as a district in which the principle use of land is for retail trade and services purposes of a lower intensity than the Highway Business (HB) District. Such districts are generally located near residential areas and cater to the everyday needs of nearby residential neighborhoods, stressing accessibility by automobiles, bicycles, and pedestrians.
Zone name
Neighborhood Business
General category
COMMERCIAL
Zone area
140.74 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.2M
NEIGHBORHOOD: SHOPPING CENTER
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
2019
Construction
BRICK
Heating
CENTRAL
Cooling
Yes
Stories
1
Lot
1.15 ac
Current owner
From public records · entity-resolved
1070 Forestville LLC
Entity
Free & Clear · 2 yrs held
Mailing address
11959 GRANDSTONE LN, MONTGOMERY, OH 45249-3442
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 25, 2024
$3,057,500
1070 Forestville LLC
Wmg Real Estate 2 LLC
Special Warranty Deed
—
Dec 3, 2020
—
Wmg Real Estate 2 LLC
Wmg Dev LLC
Quit Claim Deed
related
—
Mar 6, 2018
$825,000
Premier Dev LLC
Columbia Heritage Op LLC
Grant Deed
—
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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