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Property profile & analytics
OFF-MARKET
Estimated value
$65,315,000
Garden apartment buildings
2000 Bullhead Rd, Apex, NC 27502
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US53-2713824
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
2011
Construction
FRAME
Total area
20,730 SF
Lot
9.57 ac (416,869 SF)
Zoning code
PUD-CZ
APN
0742.11-67-8114 0367156
UPID
US53-2713824
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
$73.73M
Blend (final)
Blend
$65.32M
Owner & transaction history
4000 Spotter Dr Nc LP · 4 yrs held
4000 Spotter Dr Nc LP
since 2021
Last sale
$56.9M
6 recorded transactions
Zoning & alternative use
PUD-CZ · Apex, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$73,735,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$65.32M
Range $58.78M – $71.85M · ±10% · vs last sale $56.90M (Sep 24 2021)
Last sale anchor
$56.90M
Sep 24 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
$3,151 / 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
$385,084
Tax year 2023
Assessed value
$34,724,113
Assessed 2023
Previous assessed
$34,724,113
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$7,072,000
Assessed improvement
$27,652,113
Land market value
$7,072,000
Improvement market value
$27,652,113
Total market value
$34,724,113
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
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Status
Off-Market
Year built
2011
Construction
FRAME
Heating
CENTRAL
Cooling
CENTRAL
Stories
3
Units
24
Total area
20,730 SF
Lot
9.57 ac (416,869 SF)
Zoning code
PUD-CZ
APN
0742.11-67-8114 0367156
UPID
US53-2713824
Jurisdiction
WAKE
Zoning & alternative use
PUD-CZ · Apex, NC
Zoning PUD-CZ · permitted uses
PUD-CZ · 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.
Building & site characteristics
From public records
Year built
2011
Construction
FRAME
Heating
CENTRAL
Cooling
Yes
Stories
3
Units
24
Lot
9.57 ac
Current owner
From public records · entity-resolved
4000 Spotter Dr Nc LP
Entity
Mailing address
345 PARK AVE, NEW YORK, NY 10154-0004
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 24, 2021
$56,900,000
4000 Spotter Dr Nc LP
Bell Hnw Exchange Apex LLC
Special Warranty Deed
$575,000,000 · Morgan Stanley Bank NA
Oct 26, 2020
—
Bell Hnw Exchange Apex LLC
—
Deed
related
$8,911,000 · Federal Nat'l Mtg Assn (fnma)
Nov 1, 2018
—
Bell Hnw Exchange Apex LLC
—
Deed
related
$248,000,000 · Walker & Dunlop
Jan 21, 2015
$30,600,000
Bell Hnw Exchange Apex LLC
North Carolina Apartments I LP
Grant Deed
—
—
—
Bell Hnw Exchange Apex LLC
—
Deed Of Trust
related
$248,000,000 · Walker & Dunlop
—
—
Bell Hnw Exchange Apex LLC
—
Loan Modification
related
$8,911,000 · Federal Nat'l Mtg Assn (fnma)
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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