Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$505,000
Office buildings
1748 Heritage Ctr Dr Ste 101 Wake Forest, NC 27587-9855
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US53-3980783
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2020
Construction
BRICK
Total area
2,199 SF
Zoning code
HB
APN
1840.03-02-9466 0485352
UPID
US53-3980783
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
$525k
CAP Approach
CAP
$555k
Comparable Approach
Comparable
$519k
Blend (final)
Blend
$505k
Owner & transaction history
Freedom Psychiatry Services P LLC · 5 yrs held
Freedom Psychiatry Services P LLC
since 2021
Last sale
$494,600
1 recorded transaction
Zoning & alternative use
HB · Wake Forest, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$760,000
+59.4%
Commercial (general)
$730,000
+53.5%
Medical building
$715,000
+49.9%
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
$500,000
ML approach
$525,000
CAP Approach
CAP Return
Estimation
6%
$600,000
6.5%
$555,000
7%
$515,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$475,000
Current use
AUTO REPAIR, GARAGE
$760,000
Change: +59% · Conversion: Difficult
COMMERCIAL (GENERAL)
$730,000
Change: +54% · Conversion: Easy
MEDICAL BUILDING
$715,000
Change: +50% · Conversion: Easy
RETAIL STORES
$525,000
Change: +10% · Conversion: Moderate
WAREHOUSE, STORAGE
$415,000
Change: -13% · Conversion: Difficult
Blend value · Realmo final
$505k
Range $455k – $556k · ±10% · vs last sale $495k (Apr 28 2021)
Last sale anchor
$495k
Apr 28 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
$230 / 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
$5,313
Tax year 2023
Assessed value
$457,231
Assessed 2023
Previous assessed
$457,231
+0.0% YoY
Effective rate
1.16%
On assessed value
Assessed improvement
$457,231
Improvement market value
$457,231
Total market value
$457,231
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
2020
Construction
BRICK
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Total area
2,199 SF
Zoning code
HB
APN
1840.03-02-9466 0485352
UPID
US53-3980783
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
$475,000
AUTO REPAIR, GARAGE
Est. value
$760,000
COMMERCIAL (GENERAL)
Est. value
$730,000
MEDICAL BUILDING
Est. value
$715,000
RETAIL STORES
Est. value
$525,000
WAREHOUSE, STORAGE
Est. value
$415,000
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
MEDICAL BUILDING
RETAIL STORES
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
2020
Construction
BRICK
Heating
CENTRAL
Cooling
Yes
Stories
1
Current owner
From public records · entity-resolved
Freedom Psychiatry Services P LLC
Entity
Mailing address
1748 HERITAGE CTR DR STE #104, WAKE FOREST, NC 27587-9855
Mailing matches property
Yes
Owner-occupied
Yes
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 28, 2021
$618,000
Freedom Psychiatry Services P LLC
Hawkeye Building Co
Warranty Deed
$492,700 · First Citizens Bank & Trust Co
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 1748 Heritage Ctr Dr Ste, Unit 101?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
