New search
Property profile & analytics
OFF-MARKET
Estimated value
$5,355,000
Office Spaces
115 Chatham St, Sanford, NC 27330-4335
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US53-2793293
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1904
Total area
32,760 SF
Lot
0.51 ac (22,259 SF)
Zoning code
CENTRAL BUSINESS DISTRICT
APN
9643-70-4284-00
UPID
US53-2793293
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
-
Lee County Building Inspection County Government Office Business Related
-
OneDigital Health and Benefits Insurance Agency
-
Lee County Environmental Health County Government Office
-
Downtown Sanford, Inc. Charitable Organization Social Service Agency
-
Sanford Area Chamber of Commerce Business Service Center Advocacy Group
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$5.64M
CAP Approach
CAP
$5.30M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$5.36M
Owner & transaction history
County Of Lee · 4 yrs held
County Of Lee
since 2022
Last sale
$5.1M
3 recorded transactions
Zoning & alternative use
CENTRAL BUSINESS DISTRICT · Sanford, 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 Sanford submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Sanford 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
$5,590,000
ML approach
$5,635,000
CAP Approach
CAP Return
Estimation
6%
$5,735,000
6.5%
$5,295,000
7%
$4,920,000
Blend value · Realmo final
$5.36M
Range $4.82M – $5.89M · ±10% · vs last sale $5.13M (Jun 30 2022)
Last sale anchor
$5.13M
Jun 30 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
$163 / 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
Assessed value
$2,675,100
Assessed 2023
Previous assessed
$2,675,100
+0.0% YoY
Assessed land
$133,600
Assessed improvement
$2,541,500
Land market value
$133,600
Improvement market value
$2,541,500
Total market value
$2,675,100
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
Office Spaces
Use group
OFFICE (GENERAL)
Status
Off-Market
Year built
1904
Heating
YES
Cooling
NONE
Stories
1
Units
1
Total area
32,760 SF
Lot
0.51 ac (22,259 SF)
Zoning code
CENTRAL BUSINESS DISTRICT
APN
9643-70-4284-00
UPID
US53-2793293
Jurisdiction
LEE
Zoning & alternative use
CENTRAL BUSINESS DISTRICT · Sanford, NC
Zoning CENTRAL BUSINESS DISTRICT · permitted uses
CENTRAL BUSINESS DISTRICT · Sanford, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Sanford. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1904
Heating
YES
Cooling
Yes
Stories
1
Units
1
Lot
0.51 ac
Current owner
From public records · entity-resolved
County Of Lee
Entity
Mailing address
PO BOX 1968, SANFORD, NC 27331-1968
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 30, 2022
$5,125,000
County Of Lee
Sanford Buggy Building LLC
Warranty Deed
$3,625,000 · Sanford Buggy Building LLC
Jun 12, 2015
$2,222,500
Sanford Buggy Building LLC
Progressive Dev Co LLC
Warranty Deed
$3,625,000 · Branch Bk&tr
—
—
Progressive Dev Co LLC
—
Loan Modification
related
$412,624 · City Of Sanford
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 115 Chatham St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
