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Property profile & analytics
OFF-MARKET
Estimated value
$3,165,000
Warehouses
1088 Classic Rd Apex, NC 27539-4401
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US53-0526116
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2007
Construction
METAL FRAME
Total area
14,550 SF
Lot
2.64 ac (114,998 SF)
Zoning code
LI
APN
0751.09-16-0203 0355022
UPID
US53-0526116
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
-
Renaissance Innovations, LLC Corporate Office
-
Elite Performance Racing Auto Repair Shop Vehicle Inspection Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$4.07M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$4.13M
Blend (final)
Blend
$3.17M
Owner & transaction history
The Five & Nine Corp · 3 yrs held
The Five & Nine Corp
since 2022
Last sale
$3.1M
3 recorded transactions
Zoning & alternative use
LI · Apex, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$5.0M
+42.8%
Commercial (general)
$4.8M
+37.6%
Medical building
$4.7M
+34.4%
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 Apex submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Apex 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
$4,075,000
ML approach
$4,070,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$3,520,000
Current use
AUTO REPAIR, GARAGE
$5,025,000
Change: +43% · Conversion: Easy
COMMERCIAL (GENERAL)
$4,840,000
Change: +38% · Conversion: Difficult
MEDICAL BUILDING
$4,730,000
Change: +34% · Conversion: Difficult
RETAIL STORES
$3,150,000
Change: -10% · Conversion: Moderate
Blend value · Realmo final
$3.17M
Range $2.85M – $3.48M · ±10% · vs last sale $3.10M (Sep 22 2022)
Last sale anchor
$3.10M
Sep 22 2022
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
$218 / 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
$22,420
Tax year 2023
Assessed value
$2,043,758
Assessed 2023
Previous assessed
$2,043,758
+0.0% YoY
Effective rate
1.10%
On assessed value
Assessed land
$475,944
Assessed improvement
$1,567,814
Land market value
$475,944
Improvement market value
$1,567,814
Total market value
$2,043,758
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
WAREHOUSE, STORAGE
Status
Off-Market
Year built
2007
Construction
METAL FRAME
Heating
SPACE
Cooling
CENTRAL
Stories
1
Total area
14,550 SF
Lot
2.64 ac (114,998 SF)
Zoning code
LI
APN
0751.09-16-0203 0355022
UPID
US53-0526116
Jurisdiction
WAKE
Zoning & alternative use
LI · Apex, NC
Zoning LI · permitted uses
LI · Apex, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Apex. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$3.5M
AUTO REPAIR, GARAGE
Est. value
$5.0M
COMMERCIAL (GENERAL)
Est. value
$4.8M
MEDICAL BUILDING
Est. value
$4.7M
RETAIL STORES
Est. value
$3.2M
WAREHOUSE, STORAGE Current
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
MEDICAL BUILDING
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
SPACE
Cooling
Yes
Stories
1
Lot
2.64 ac
Current owner
From public records · entity-resolved
The Five & Nine Corp
Entity
Mailing address
7 FRNT ST #2, BROOKLYN, NY 11201-1389
Ownership since
2022
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
Sep 22, 2022
$3,100,000
The Five & Nine Corp
Hipex Properties LLC
Special Warranty Deed
$1,860,000 · American National Bank & Trust Co
Nov 20, 2015
$1,525,000
Hipex Properties LLC
Third Day LLC
Grant Deed
—
Apr 25, 2007
—
Third Day LLC
Powell,h Brantley
Warranty Deed
$1,175,000 · Branch Banking & Trust Co
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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