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Property profile & analytics
OFF-MARKET
Estimated value
$3,040,000
Medical Office Space
109 Gtwy Ctr Dr, Kernersville, NC 27284-2999
Individually Owned
4-yr Hold
Free & Clear
Property ID
US53-1220619
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1999
Construction
STEEL FRAME
Total area
11,347 SF
Lot
1.63 ac (71,003 SF)
Zoning code
GB-S
APN
6886-52-3122.00
UPID
US53-1220619
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
-
Miguel Robert M Physician
-
Larona B. Jones, OT Physician
-
Judd Andrew Caudell, MPAS, PA-C Physician
-
Mary Ruth Hunt, MD Physician
-
Atrium Health Wake Forest Baptist | Occupational Medicine Kernersville Occupational Health Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.89M
CAP Approach
CAP
$2.06M
Comparable Approach
Comparable
$3.61M
Blend (final)
Blend
$3.04M
Owner & transaction history
Robert Philip Melvin III · 4 yrs held
Robert Philip Melvin III
since 2022
Last sale
$2.9M
2 recorded transactions
Zoning & alternative use
GB-S · Kernersville, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$4.1M
+92.1%
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 Kernersville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Kernersville 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
$3,965,000
ML approach
$3,890,000
CAP Approach
CAP Return
Estimation
6%
$2,230,000
6.5%
$2,060,000
7%
$1,910,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$2,120,000
Current use
RESTAURANT
$4,070,000
Change: +92% · Conversion: Difficult
Blend value · Realmo final
$3.04M
Range $2.74M – $3.34M · ±10% · vs last sale $2.90M (Jan 27 2022)
Last sale anchor
$2.90M
Jan 27 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
$268 / 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
$34,800
Tax year 2024
Assessed value
$2,688,400
Assessed 2024
Previous assessed
$2,688,400
+0.0% YoY
Effective rate
1.29%
On assessed value
Assessed land
$828,100
Assessed improvement
$1,860,300
Land market value
$828,100
Improvement market value
$1,860,300
Total market value
$2,688,400
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
1999
Construction
STEEL FRAME
Heating
YES
Cooling
YES
Stories
1
Total area
11,347 SF
Lot
1.63 ac (71,003 SF)
Zoning code
GB-S
APN
6886-52-3122.00
UPID
US53-1220619
Jurisdiction
FORSYTH
Zoning & alternative use
GB-S · Kernersville, NC
Zoning GB-S · permitted uses
GB-S · Kernersville, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Kernersville. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$2.1M
RESTAURANT
Est. value
$4.1M
MEDICAL BUILDING Current
RESTAURANT
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
1999
Construction
STEEL FRAME
Heating
YES
Cooling
Yes
Stories
1
Lot
1.63 ac
Current owner
From public records · entity-resolved
Robert Philip Melvin III
Individual
Free & Clear · 4 yrs held
Mailing address
212 MARIETTA RD, MOORESVILLE, NC 28117-8426
Mailing matches property
Yes
Owner-occupied
Yes
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 27, 2022
—
Robert Philip Melvin III
L Randall Melvin
Intrafamily Transfer
related
—
Mar 28, 2008
$2,900,000
Melvin R Philip JR Trust
Novant Health INC
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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