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Property profile & analytics
OFF-MARKET
Estimated value
$2,360,000
Warehouses
2004 Main St, Wake Forest, NC 27587-9356
Entity Owned
~
Est. High Equity
Property ID
US53-1488994
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1997
Construction
BRICK
Total area
8,904 SF
Lot
1.15 ac (50,094 SF)
Zoning code
HB
APN
1830.04-80-4928 0219543
UPID
US53-1488994
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
-
Clocktiques Computer & Electronic Repair
-
Lights Unlimited, Inc. (Bike/Boat/Book/etc) Store Hardware & Home Improvement
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.95M
Blend (final)
Blend
$2.36M
Owner & transaction history
Dwb Rentals LLC
Dwb Rentals LLC
since 2026
Last sale
$2.3M
2 recorded transactions
Zoning & alternative use
HB · Wake Forest, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$3.1M
+83.4%
Commercial (general)
$3.0M
+76.6%
Medical building
$2.9M
+72.5%
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
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
WAREHOUSE, STORAGE
$1,675,000
Current use
AUTO REPAIR, GARAGE
$3,075,000
Change: +83% · Conversion: Easy
COMMERCIAL (GENERAL)
$2,960,000
Change: +77% · Conversion: Difficult
MEDICAL BUILDING
$2,895,000
Change: +73% · Conversion: Difficult
RETAIL STORES
$2,125,000
Change: +27% · Conversion: Moderate
Blend value · Realmo final
$2.36M
Range $2.12M – $2.60M · ±10% · vs last sale $2.30M (Jan 8 2026)
Last sale anchor
$2.30M
Jan 8 2026
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
$265 / 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
$24,012
Tax year 2024
Assessed value
$2,393,099
Assessed 2024
Previous assessed
$2,393,099
+0.0% YoY
Effective rate
1.00%
On assessed value
Assessed land
$716,344
Assessed improvement
$1,676,755
Land market value
$716,344
Improvement market value
$1,676,755
Total market value
$2,393,099
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
1997
Construction
BRICK
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Total area
8,904 SF
Lot
1.15 ac (50,094 SF)
Zoning code
HB
APN
1830.04-80-4928 0219543
UPID
US53-1488994
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
WAREHOUSE, STORAGE Current
Est. value
$1.7M
AUTO REPAIR, GARAGE
Est. value
$3.1M
COMMERCIAL (GENERAL)
Est. value
$3.0M
MEDICAL BUILDING
Est. value
$2.9M
RETAIL STORES
Est. value
$2.1M
WAREHOUSE, STORAGE Current
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
MEDICAL BUILDING
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
1997
Construction
BRICK
Heating
CENTRAL
Cooling
Yes
Stories
1
Lot
1.15 ac
Current owner
From public records · entity-resolved
Dwb Rentals LLC
Entity
Mailing address
2006 S MAIN ST STE #210, WAKE FOREST, NC 27587-9391
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2026
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
Jan 8, 2026
$2,300,000
Dwb Rentals LLC
Jeffrey S Looper
Warranty Deed
$2,000,000 · Jeffrey S Looper Etal
—
—
Jeffrey S Looper
—
Deed Of Trust
related
$250,000 · Branch Banking & 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.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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