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Property profile & analytics
OFF-MARKET
Estimated value
$590,000
Office buildings
1928 Old Us 1st Hwy Apex, NC 27502-7765
Individually Owned
3-yr Hold
~
Est. High Equity
Property ID
US53-2746196
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1986
Construction
BRICK
Total area
3,584 SF
Lot
2.74 ac (119,354 SF)
Zoning code
B1
APN
0731.03-30-0525 0168204
UPID
US53-2746196
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$584k
Blend (final)
Blend
$590k
Owner & transaction history
Billy Edwin Stroup · 3 yrs held
Billy Edwin Stroup
since 2023
2 recorded transactions
Zoning & alternative use
B1 · Apex, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Warehouse, storage
$865,000
+27.7%
Retail stores
$775,000
+14.4%
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
OFFICE BUILDING
$680,000
Current use
WAREHOUSE, STORAGE
$865,000
Change: +28% · Conversion: Difficult
RETAIL STORES
$775,000
Change: +14% · Conversion: Moderate
Blend value · Realmo final
$590k
Range $531k – $649k · ±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
$165 / 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
$4,240
Tax year 2023
Assessed value
$545,285
Assessed 2023
Previous assessed
$545,285
+0.0% YoY
Effective rate
0.78%
On assessed value
Assessed land
$299,998
Assessed improvement
$245,287
Land market value
$299,998
Improvement market value
$245,287
Total market value
$545,285
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
1986
Construction
BRICK
Heating
CENTRAL
Cooling
CENTRAL
Stories
2
Total area
3,584 SF
Lot
2.74 ac (119,354 SF)
Zoning code
B1
APN
0731.03-30-0525 0168204
UPID
US53-2746196
Jurisdiction
WAKE
Zoning & alternative use
B1 · Apex, NC
Zoning B1 · permitted uses
B1 · 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
OFFICE BUILDING Current
Est. value
$680,000
WAREHOUSE, STORAGE
Est. value
$865,000
RETAIL STORES
Est. value
$775,000
OFFICE BUILDING Current
WAREHOUSE, STORAGE
RETAIL STORES
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
1986
Construction
BRICK
Heating
CENTRAL
Cooling
Yes
Stories
2
Lot
2.74 ac
Current owner
From public records · entity-resolved
Billy Edwin Stroup
Individual
Mailing address
1924 OLD US 1ST HWY, APEX, NC 27502-7765
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 20, 2023
—
Billy Edwin Stroup
Billy Edwin Stroup
Intrafamily Transfer
related
—
—
—
Billy E Stroup
—
Deed Of Trust
related
$100,000 · 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.
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