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Property profile & analytics
OFF-MARKET
Estimated value
$9,595,000
Office buildings
11640 Northpark Dr Wake Forest, NC 27587-5736
Entity Owned
4-yr Hold
Free & Clear
Property ID
US53-1731788
Property summary
AI-generated overview
Northpark II, a three-story medical office building, offers 52,236 square feet of space in Wake Forest, NC. Built in 2008, this brick building features abundant window lines, creating a bright and welcoming atmosphere. Currently, there is one suite available, totaling 6,316 square feet, ideal for a variety of medical practices. The building boasts a total of one suite across its three stories. Ample parking is provided with a ratio of 4 spaces per 1,000 square feet. Located at 11640 Northpark Drive, Wake Forest, NC 27587, this property enjoys a convenient location within Wake County. The building's modern design and ample space make it an excellent opportunity for medical professionals seeking a well-maintained and easily accessible location to establish or expand their practice. The property's strategic location in Wake Forest offers easy access to major roadways and a thriving community. This single-suite offering presents a unique chance to secure a significant footprint in a desirable medical office building. The building's solid construction and modern amenities ensure a comfortable and efficient workspace. The available space is ready for immediate occupancy, providing a seamless transition for any medical practice.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2008
Construction
BRICK
Total area
52,304 SF
Lot
5.14 ac (223,898 SF)
Zoning code
HB
APN
1830.01-45-6817 0366584
UPID
US53-1731788
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
-
Dr. Swathi Anche Pediatrician Physician
-
Wake Skin Cancer Center - Mohs Surgery Center Physician Medical Clinic
-
WakeMed Primary Care - Wake Forest Medical Clinic
-
Wake Skin Cancer Center Medical Clinic
-
Dr. Stephen Tibbels Pediatrician Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$9.57M
CAP Approach
CAP
$13.18M
Comparable Approach
Comparable
$8.94M
Blend (final)
Blend
$9.60M
Owner & transaction history
Hta Northpark II LLC · 4 yrs held
Hta Northpark II LLC
since 2021
Last sale
$9.6M
7 recorded transactions
Zoning & alternative use
HB · Wake Forest, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$12.5M
+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
$9,655,000
ML approach
$9,565,000
CAP Approach
CAP Return
Estimation
6%
$14,275,000
6.5%
$13,175,000
7%
$12,235,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$11,335,000
Current use
RETAIL STORES
$12,495,000
Change: +10% · Conversion: Moderate
Blend value · Realmo final
$9.60M
Range $8.64M – $10.55M · ±10% · vs last sale $9.58M (Dec 9 2021)
Last sale anchor
$9.58M
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
$183 / 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
$88,638
Tax year 2023
Assessed value
$7,628,016
Assessed 2023
Previous assessed
$7,628,016
+0.0% YoY
Effective rate
1.16%
On assessed value
Assessed land
$1,602,613
Assessed improvement
$6,025,403
Land market value
$1,602,613
Improvement market value
$6,025,403
Total market value
$7,628,016
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
Off-Market
Year built
2008
Construction
BRICK
Heating
CENTRAL
Cooling
CENTRAL
Stories
3
Rooms
6
Bathrooms
2
Total area
52,304 SF
Lot
5.14 ac (223,898 SF)
Zoning code
HB
APN
1830.01-45-6817 0366584
UPID
US53-1731788
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
$11.3M
RETAIL STORES
Est. value
$12.5M
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
2008
Construction
BRICK
Heating
CENTRAL
Cooling
Yes
Stories
3
Rooms
6
Bathrooms
2
Lot
5.14 ac
Current owner
From public records · entity-resolved
Hta Northpark II LLC
Entity
Free & Clear · 4 yrs held
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
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 9, 2021
$9,580,000
Hta Northpark II 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
Northpark Two LLC
Grant Deed
—
Nov 14, 2012
—
Northpark Two LLC
—
Deed Of Trust
related
$5,280,000 · Bank Of America
Mar 14, 2008
—
Northpark Two LLC
Beacon Ventures-northpark Two
Quit Claim Deed
related
$7,500,000 · Bank Of America
Mar 29, 2004
$6,085,000
Beacon Ventures LLC
Highwoods Realty
Grant Deed
$813,750 · Highwoods Realty LP
—
—
Northpark Two LLC
—
Deed Of Trust
related
$7,500,000 · 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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