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Property profile & analytics
FOR LEASE
Medical Office Space
1831 Lake Pine Dr Cary, NC 27511
Entity Owned
8-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US53-1339382
For Lease
1 / 13
$1,800/Mo
1831 Lake Pine Dr, Cary, NC 27511
View Listing →
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2010
Construction
BRICK
Total area
8,786 SF
Lot
1.39 ac (60,548 SF)
Zoning code
OIP
APN
0752.10-36-9298 0316159
UPID
US53-1339382
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
-
Wake Family Medicine: Mrinalini S. Kodumagulla, MD Physician
-
Balubhai N. Patel, M.D. Physician
-
Triangle Nephrology and Internal Medicine, P.A. Physician Medical Clinic
-
Summit Endocrine & Diabetes Physician
-
Premier Hematology & Tele-Oncology Center Medical Clinic Hospital
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.03M
Blend (final)
Blend
$2.48M
Owner & transaction history
Keg Rentals LLC · 8 yrs held
Keg Rentals LLC
since 2018
5 recorded transactions
Zoning & alternative use
OIP · Cary, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$4.1M
+34.1%
Auto repair, garage
$3.7M
+22.6%
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
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
MEDICAL BUILDING
$3,025,000
Current use
RETAIL STORES
$4,060,000
Change: +34% · Conversion: Difficult
AUTO REPAIR, GARAGE
$3,710,000
Change: +23% · Conversion: Difficult
Blend value · Realmo final
$2.48M
Range $2.23M – $2.73M · ±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
$282 / 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
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
For Lease
Year built
2010
Construction
BRICK
Heating
CENTRAL
Cooling
CENTRAL
Stories
2
Total area
8,786 SF
Lot
1.39 ac (60,548 SF)
Zoning code
OIP
APN
0752.10-36-9298 0316159
UPID
US53-1339382
Jurisdiction
WAKE
Zoning & alternative use
OIP · Cary, NC
Zoning OIP · permitted uses
OIP · 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
MEDICAL BUILDING Current
Est. value
$3.0M
RETAIL STORES
Est. value
$4.1M
AUTO REPAIR, GARAGE
Est. value
$3.7M
MEDICAL BUILDING Current
RETAIL STORES
AUTO REPAIR, GARAGE
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
2010
Construction
BRICK
Heating
CENTRAL
Cooling
Yes
Stories
2
Lot
1.39 ac
Current owner
From public records · entity-resolved
Keg Rentals LLC
Entity
Mailing address
308 VERSAILLES DR, CARY, NC 27511-6011
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 17, 2018
—
Keg Rentals LLC
—
Trustees Deed
related
$233,721 · Branch Bk&tr
May 30, 2018
—
Keg Rentals LLC
Willis,dr G JR
Grant Deed
related
—
Apr 19, 2018
$800,000
Willis Giles JR.
Macgregor Plaza LLC
Warranty Deed
$800,000 · Branch Bk&tr
Mar 31, 2010
—
Macgregor Plaza LLC
Macgregor Centre LLC
Quit Claim Deed
related
$1,487,000 · First Citizens Bank & Trust Co
—
—
Macgregor Centre LLC
—
Deed Of Trust
related
$1,110,000 · Suntrust Bank NA
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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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