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Property profile & analytics
OFF-MARKET
Estimated value
$920,000
Retail space
123 Salem St Apex, NC 27502-1427
Entity Owned
9-yr Hold
~
Est. High Equity
Property ID
US53-0084636
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1911
Construction
BRICK
Total area
5,532 SF
Lot
0.13 ac (5,663 SF)
Zoning code
B2
APN
0742.18-41-1230 0004367
UPID
US53-0084636
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
-
Carolina Custom Kitchen & Bath, LLC Department Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$994k
Blend (final)
Blend
$920k
Owner & transaction history
Thomas Lee Properties LLC · 9 yrs held
Thomas Lee Properties LLC
since 2016
7 recorded transactions
Zoning & alternative use
B2 · Apex, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Warehouse, storage
$1.3M
+11.6%
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 Apex submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Apex 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
RETAIL STORES
$1,200,000
Current use
WAREHOUSE, STORAGE
$1,340,000
Change: +12% · Conversion: Difficult
Blend value · Realmo final
$920k
Range $828k – $1.01M · ±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
$166 / 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
$9,429
Tax year 2023
Assessed value
$859,499
Assessed 2023
Previous assessed
$859,499
+0.0% YoY
Effective rate
1.10%
On assessed value
Assessed land
$135,912
Assessed improvement
$723,587
Land market value
$135,912
Improvement market value
$723,587
Total market value
$859,499
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1911
Construction
BRICK
Heating
CENTRAL
Cooling
CENTRAL
Stories
2
Total area
5,532 SF
Lot
0.13 ac (5,663 SF)
Zoning code
B2
APN
0742.18-41-1230 0004367
UPID
US53-0084636
Jurisdiction
WAKE
Zoning & alternative use
B2 · Apex, NC
Zoning B2 · permitted uses
B2 · Apex, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Apex. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$1.2M
WAREHOUSE, STORAGE
Est. value
$1.3M
RETAIL STORES Current
WAREHOUSE, STORAGE
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
1911
Construction
BRICK
Heating
CENTRAL
Cooling
Yes
Stories
2
Lot
0.13 ac
Current owner
From public records · entity-resolved
Thomas Lee Properties LLC
Entity
Mailing address
123 N SALEM ST, APEX, NC 27502-1427
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
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 28, 2021
—
Thomas Lee Properties LLC
—
Deed
related
$500,000 · Truist Bank
Jul 28, 2016
$400,000
Thomas Lee Properties LLC
Salem Street Properties LLC
Warranty Deed
$225,000 · Salem Street Properties LLC
Jul 12, 2007
—
Salem Street Properties LLC
—
Trustees Deed
related
$92,000 · William Ott
May 14, 2007
$305,000
Salem Street Properties LLC
Peak City Holdings LLC
Warranty Deed
—
Feb 8, 2006
$200,000
Peak City Holdings LLC
Watts,richard L JR
Warranty Deed
related
$150,000 · Richard L JR Watts
—
—
Salem Street Properties LLC
—
Deed Of Trust
related
$115,000 · Royalton Ptrs LP
—
—
Salem Street Properties LLC
—
Deed Of Trust
related
$100,000 · William Ott
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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