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Property profile & analytics
OFF-MARKET
Estimated value
$1,720,000
Medical Office Space
111 Rdg Vw Dr Cary, NC 27511-2628
Entity Owned
9-yr Hold
Free & Clear
Property ID
US53-1672329
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2018
Construction
STONE
Total area
7,580 SF
Lot
2.33 ac (101,495 SF)
Zoning code
OIP
APN
0763.19-50-8694 0153864
UPID
US53-1672329
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
-
Stoeckel William T MD Physician Medical Clinic
-
The Med Spa at Wake Plastic Surgery Spa & Massage Center Alternative Medicine Practice
-
Wake Plastic Surgery Medical Clinic Skin Care Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.23M
Comparable Approach
Comparable
$2.06M
Blend (final)
Blend
$1.72M
Owner & transaction history
Lilpar LLC · 9 yrs held
Lilpar LLC
since 2016
4 recorded transactions
Zoning & alternative use
OIP · Cary, NC
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 Cary submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Cary 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%
$1,330,000
6.5%
$1,230,000
7%
$1,140,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$2,610,000
Current use
Blend value · Realmo final
$1.72M
Range $1.55M – $1.89M · ±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
$227 / 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
$21,084
Tax year 2023
Assessed value
$2,104,232
Assessed 2023
Previous assessed
$2,104,232
+0.0% YoY
Effective rate
1.00%
On assessed value
Assessed land
$410,798
Assessed improvement
$1,693,434
Land market value
$410,798
Improvement market value
$1,693,434
Total market value
$2,104,232
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
2018
Construction
STONE
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Total area
7,580 SF
Lot
2.33 ac (101,495 SF)
Zoning code
OIP
APN
0763.19-50-8694 0153864
UPID
US53-1672329
Jurisdiction
WAKE
Zoning & alternative use
OIP · Cary, NCZoning OIP · permitted uses
OIP · Cary, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
4.4.2 Mixed Use Overlay
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$2.6M
MEDICAL BUILDING Current
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
2018
Construction
STONE
Heating
CENTRAL
Cooling
Yes
Stories
1
Lot
2.33 ac
Current owner
From public records · entity-resolved
Lilpar LLC
Entity
Free & Clear · 9 yrs held
Mailing address
111 RDG VW DR, CARY, NC 27511-2628
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 27, 2020
—
Lilpar LLC
—
Deed
related
$2,649,438 · First Citizens Bank & Trust Co
May 22, 2017
—
Lilpar LLC
—
Trustees Deed
related
$2,755,000 · Capital Bk
Sep 29, 2016
$500,000
Lilpar LLC
Ridgeview Associates LLC
Warranty Deed
—
—
—
Ridgeview Associates LLC
—
Deed Of Trust
related
$460,000 · Wachovia Bk
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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