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Property profile & analytics
FOR LEASE
Office buildings
11635 Northpark Dr Wake Forest, NC 27587
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US53-1977995
For Lease
1 / 10
$7,700,000
11635 Northpark Dr, Wake Forest, NC 27587
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Property summary
AI-generated overview
NorthPark I, a three-story medical office building totaling 41,887 square feet, presents a prime opportunity in Wake Forest, NC. Built in 1996, this brick building features attractive window lines and offers multiple tenancy options. The building currently has 8,044 square feet of vacant space, divisible into units ranging from a minimum of 1,363 square feet to a maximum contiguous space of 3,859 square feet. There are a total of three suites within the building. The property boasts a convenient location near the intersection of Hwy 98 Bypass and Hwy 1 (Capital Boulevard), providing easy access for patients and staff from Wake Forest and surrounding areas. Its strategic proximity, within two miles of Rex Healthcare of Wakefield and numerous other medical providers, makes it an ideal location for medical practices seeking high visibility and patient accessibility. Ample parking is available, with a ratio of 4.84 spaces per 1,000 square feet. This well-maintained building offers a fantastic opportunity for medical professionals seeking established space in a thriving community. Inquire today to learn more about available suite sizes and lease terms.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1996
Construction
BRICK
Total area
44,220 SF
Lot
3.55 ac (154,638 SF)
Zoning code
HB
APN
1830.11-55-0921 0232398
UPID
US53-1977995
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
-
Pacific Path Detox Medical Clinic
-
Christianna Karr Physician
-
Perio-Implant Center-Wake Forest Dental Office
-
Perio-Implant Center-Wake Forest: Collins John G DDS Dental Office
-
Bristow Rita Dental Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$7.87M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$7.55M
Blend (final)
Blend
$7.70M
Owner & transaction history
Hta Northpark I LLC · 4 yrs held
Hta Northpark I LLC
since 2021
Last sale
$7.7M
7 recorded transactions
Zoning & alternative use
HB · Wake Forest, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$10.6M
+10.3%
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
$7,730,000
ML approach
$7,865,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$9,580,000
Current use
RETAIL STORES
$10,565,000
Change: +10% · Conversion: Moderate
Blend value · Realmo final
$7.70M
Range $6.93M – $8.47M · ±10% · vs last sale $7.67M (Dec 9 2021)
Last sale anchor
$7.67M
Dec 9 2021
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
$174 / 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
$74,641
Tax year 2023
Assessed value
$6,423,490
Assessed 2023
Previous assessed
$6,423,490
+0.0% YoY
Effective rate
1.16%
On assessed value
Assessed land
$1,701,018
Assessed improvement
$4,722,472
Land market value
$1,701,018
Improvement market value
$4,722,472
Total market value
$6,423,490
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 buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
1996
Construction
BRICK
Heating
CENTRAL
Cooling
CENTRAL
Stories
3
Total area
44,220 SF
Lot
3.55 ac (154,638 SF)
Zoning code
HB
APN
1830.11-55-0921 0232398
UPID
US53-1977995
Jurisdiction
WAKE
Zoning & alternative use
HB · Wake Forest, NC
Zoning HB · permitted uses
HB · Wake Forest, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Wake Forest. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$9.6M
RETAIL STORES
Est. value
$10.6M
OFFICE BUILDING Current
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
1996
Construction
BRICK
Heating
CENTRAL
Cooling
Yes
Stories
3
Lot
3.55 ac
Current owner
From public records · entity-resolved
Hta Northpark I LLC
Entity
Mailing address
16435 N SCOTTSDALE RD STE #320, SCOTTSDALE, AZ 85254-1694
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 9, 2021
$7,670,000
Hta Northpark I LLC
Ccp Property Raleigh Durham LLC
Special Warranty Deed
—
Nov 3, 2017
—
Ccp Prop Raleigh-durham LLC
—
Grant Deed
related
$29,800,000 · Benefit Street Ptrs Realty Ope
Oct 10, 2014
$16,200,000
Ccp Prop Raleigh-durham LLC
Tdc Blue I LLC
Grant Deed
—
Oct 10, 2014
—
Ccp Prop Raleigh-durham LLC
Tdc Blue I LLC
Trustees Deed
related
$26,600,000 · Ge Cap Bk
Aug 27, 2014
$4,900,000
Tdc Blue I LLC
Beacon Ventures LLC
Grant Deed
—
Nov 14, 2012
—
Beacon Ventures LLC
—
Deed Of Trust
related
$54,000,000 · Bank Of America
Jul 17, 2006
—
Beacon Ventures LLC
—
Deed Of Trust
related
$38,622,500 · Bank Of America
Mar 29, 2004
$6,085,000
Beacon Ventures LLC
Highwoods Realty
Grant Deed
$3,919,075 · Bank Of America
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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