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Property profile & analytics
OFF-MARKET
Estimated value
$2,290,000
Warehouses
12121 Louisburg Rd Wake Forest, NC 27587
Entity Owned
2-yr Hold
Free & Clear
Property ID
US53-2171964
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1968
Construction
CONCRETE BLOCKS
Total area
10,628 SF
Lot
83.72 ac (3,646,843 SF)
Zoning code
R-40W
APN
1870.03-14-9799 0063676
UPID
US53-2171964
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.20M
Blend (final)
Blend
$2.29M
Owner & transaction history
Department Of Transportation · 2 yrs held
Department Of Transportation
since 2024
Last sale
$9,000
3 recorded transactions
Zoning & alternative use
R-40W · Wake Forest, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$3.7M
+83.4%
Commercial (general)
$3.5M
+76.6%
Medical building
$3.5M
+72.5%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$2,000,000
Current use
AUTO REPAIR, GARAGE
$3,670,000
Change: +83% · Conversion: Easy
COMMERCIAL (GENERAL)
$3,535,000
Change: +77% · Conversion: Difficult
MEDICAL BUILDING
$3,455,000
Change: +73% · Conversion: Difficult
RETAIL STORES
$2,540,000
Change: +27% · Conversion: Moderate
Blend value · Realmo final
$2.29M
Range $2.06M – $2.52M · ±10% · vs last sale $9k (Apr 9 2024)
Last sale anchor
$9k
Apr 9 2024
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
$215 / 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
$820
Tax year 2023
Assessed value
$1,738,585
Assessed 2023
Previous assessed
$1,738,585
+0.0% YoY
Effective rate
0.05%
On assessed value
Assessed land
$1,708,120
Assessed improvement
$30,465
Land market value
$1,708,120
Improvement market value
$30,465
Total market value
$1,738,585
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1968
Construction
CONCRETE BLOCKS
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Rooms
5
Bathrooms
1
Total area
10,628 SF
Lot
83.72 ac (3,646,843 SF)
Zoning code
R-40W
APN
1870.03-14-9799 0063676
UPID
US53-2171964
Jurisdiction
WAKE
Zoning & alternative use
R-40W · Wake Forest, NC
Zoning R-40W · permitted uses
R-40W · 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
WAREHOUSE, STORAGE Current
Est. value
$2.0M
AUTO REPAIR, GARAGE
Est. value
$3.7M
COMMERCIAL (GENERAL)
Est. value
$3.5M
MEDICAL BUILDING
Est. value
$3.5M
RETAIL STORES
Est. value
$2.5M
WAREHOUSE, STORAGE Current
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
MEDICAL BUILDING
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
1968
Construction
CONCRETE BLOCKS
Heating
CENTRAL
Cooling
Yes
Stories
1
Rooms
5
Bathrooms
1
Lot
83.72 ac
Current owner
From public records · entity-resolved
Department Of Transportation
Entity
Free & Clear · 2 yrs held
Mailing address
1546 MAIL SERVICE CTR, RALEIGH, NC 27699-1500
Ownership since
2024
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
Apr 9, 2024
$9,000
Department Of Transportation
Lois S Murphy
Deed
—
May 31, 2019
—
Lois S Murphy
Shearon Elsie P
Quit Claim Deed
related
—
Oct 20, 2006
—
Elsie P Shearon
Shearon,vassar P
Quit Claim Deed
related
—
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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