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Property profile & analytics
OFF-MARKET
Estimated value
$1,730,000
Drive through restaurants
12301 Capital Blvd Wake Forest, NC 27587-7485
Individually Owned
2-yr Hold
Free & Clear
Property ID
US53-0537434
Property profile
Verified
Property type
Drive through restaurants
Use group
DRIVE-THRU RESTAURANT, FAST FOOD
Year built
1989
Construction
BRICK
Total area
3,972 SF
Lot
0.95 ac (41,382 SF)
Zoning code
HB
APN
1831.15-62-2668 0173977
UPID
US53-0537434
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
-
Burger King Restaurant
-
CashPoints® ATM Atm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.77M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.18M
Blend (final)
Blend
$1.73M
Owner & transaction history
Lee Thurlow Leavitt · 2 yrs held
Lee Thurlow Leavitt
since 2023
Last sale
$1.7M
6 recorded transactions
Zoning & alternative use
HB · Wake Forest, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$2.2M
+2.1%
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
$1,755,000
ML approach
$1,765,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$2,145,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$2,190,000
Change: +2% · Conversion: Difficult
Blend value · Realmo final
$1.73M
Range $1.56M – $1.90M · ±10% · vs last sale $1.70M (Oct 30 2023)
Last sale anchor
$1.70M
Oct 30 2023
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
$436 / 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
$18,164
Tax year 2023
Assessed value
$1,563,132
Assessed 2023
Previous assessed
$1,563,132
+0.0% YoY
Effective rate
1.16%
On assessed value
Assessed land
$496,584
Assessed improvement
$1,066,548
Land market value
$496,584
Improvement market value
$1,066,548
Total market value
$1,563,132
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
Drive through restaurants
Use group
DRIVE-THRU RESTAURANT, FAST FOOD
Status
Off-Market
Year built
1989
Construction
BRICK
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Total area
3,972 SF
Lot
0.95 ac (41,382 SF)
Zoning code
HB
APN
1831.15-62-2668 0173977
UPID
US53-0537434
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
RESTAURANT Current
Est. value
$2.1M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.2M
RESTAURANT Current
NEIGHBORHOOD: SHOPPING CENTER
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
1989
Construction
BRICK
Heating
CENTRAL
Cooling
Yes
Stories
1
Lot
0.95 ac
Current owner
From public records · entity-resolved
Lee Thurlow Leavitt
Individual
Free & Clear · 2 yrs held
Mailing address
7 MORNING GLORY, IRVINE, CA 92603-3714
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 30, 2023
$1,698,000
Lee Thurlow Leavitt
13201 Capital Boulevard LLC
Special Warranty Deed
—
Jun 17, 2021
—
12301 Capital Boulevard LLC
Ashok Mehta
Warranty Deed
—
Jun 15, 2021
—
Eyas Hospitality Grp N Carolin
—
Deed
related
$15,540,000 · Bank Of America
Nov 16, 2009
$1,050,000
Ashok K Mehta
Olander,robert G
Warranty Deed
$525,000 · Ncb Savings Bank
—
—
Eyas Hospitality Grp N Carolin
—
Deed Of Trust
related
$15,540,000 · Bank Of America
—
—
Ashok K Mehta
—
Deed Of Trust
related
$373,000 · Business Expansion Funding Cor
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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