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Property profile & analytics
OFF-MARKET
Estimated value
$755,000
Warehouses
1517 Old Apex Rd Ste 100, Cary, NC 27513-5365
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US53-0732509
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2007
Construction
METAL FRAME
Total area
2,667 SF
Zoning code
ICU
APN
0753.14-43-8147 0372748
UPID
US53-0732509
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
$870k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$821k
Blend (final)
Blend
$755k
Owner & transaction history
Djd Real Estate LLC · 3 yrs held
Djd Real Estate LLC
since 2023
Last sale
$724,250
4 recorded transactions
Zoning & alternative use
ICU · Cary, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.2M
+103.4%
Auto repair, garage
$1.1M
+86.0%
Medical building
$920,000
+51.6%
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 Cary submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Cary 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
$920,000
ML approach
$870,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$605,000
Current use
RETAIL STORES
$1,230,000
Change: +103% · Conversion: Moderate
AUTO REPAIR, GARAGE
$1,125,000
Change: +86% · Conversion: Easy
MEDICAL BUILDING
$920,000
Change: +52% · Conversion: Difficult
OFFICE BUILDING
$595,000
Change: -2% · Conversion: Difficult
Blend value · Realmo final
$755k
Range $680k – $831k · ±10% · vs last sale $724k (Mar 2 2023)
Last sale anchor
$724k
Mar 2 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
$283 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$6,056
Tax year 2024
Assessed value
$722,243
Assessed 2024
Previous assessed
$722,243
+0.0% YoY
Effective rate
0.84%
On assessed value
Assessed improvement
$722,243
Improvement market value
$722,243
Total market value
$722,243
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
2007
Construction
METAL FRAME
Heating
SPACE
Cooling
CENTRAL
Stories
1
Total area
2,667 SF
Zoning code
ICU
APN
0753.14-43-8147 0372748
UPID
US53-0732509
Jurisdiction
WAKE
Zoning & alternative use
ICU · Cary, NC
Zoning ICU · permitted uses
ICU · Cary, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Cary. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$605,000
RETAIL STORES
Est. value
$1.2M
AUTO REPAIR, GARAGE
Est. value
$1.1M
MEDICAL BUILDING
Est. value
$920,000
OFFICE BUILDING
Est. value
$595,000
WAREHOUSE, STORAGE Current
RETAIL STORES
AUTO REPAIR, GARAGE
MEDICAL BUILDING
OFFICE BUILDING
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
2007
Construction
METAL FRAME
Heating
SPACE
Cooling
Yes
Stories
1
Current owner
From public records · entity-resolved
Djd Real Estate LLC
Entity
Mailing address
1517 PO BOX 1422ND RD #100102, MOREHEAD CITY, NC 28557-1422
Mailing matches property
Yes
Owner-occupied
Yes
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 2, 2023
$1,250,000
Djd Real Estate LLC
Bwb West LLC
Warranty Deed
$1,000,000 · First Reliance Bank
Jul 27, 2016
$735,000
Bwb West LLC
Shah,rajesh B & Pragna R
Warranty Deed
—
Dec 6, 2007
$597,000
Rajesh B Shah
Crestview Associates Of Nc LLC
Warranty Deed
$226,283 · Wachovia Bank NA
—
—
Rajesh B Shah
—
Deed Of Trust
related
$65,000 · Yadkin Bk
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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