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Property profile & analytics
FOR LEASE
Banks
202 South Salem St Apex, NC 27502
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US53-5427580
For Lease
$2,505,000
202 South Salem St, Apex, NC 27502
View Listing →
Property profile
Verified
Property type
Banks
Use group
FINANCIAL BUILDING
Year built
1960
Total area
3,690 SF
Lot
0.53 ac (23,087 SF)
Zoning code
O&I
APN
0742.18-30-6498 0012575
UPID
US53-5427580
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
-
ATM (Suntrust Bank) Atm
-
Potts Inc Hardware & Home Improvement Home Appliance Store
-
Apex Office Law Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.82M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.78M
Blend (final)
Blend
$2.51M
Owner & transaction history
Wilkinson Prop Of Nc LLC · 6 yrs held
Wilkinson Prop Of Nc LLC
since 2020
Last sale
$2.0M
5 recorded transactions
Zoning & alternative use
O&I · 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
$2,875,000
ML approach
$2,820,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$2.51M
Range $2.25M – $2.76M · ±10% · vs last sale $2.02M (Apr 3 2020)
Last sale anchor
$2.02M
Apr 3 2020
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
$679 / 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
$12,990
Tax year 2023
Assessed value
$1,184,095
Assessed 2023
Previous assessed
$1,184,095
+0.0% YoY
Effective rate
1.10%
On assessed value
Assessed land
$415,566
Assessed improvement
$768,529
Land market value
$415,566
Improvement market value
$768,529
Total market value
$1,184,095
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
Banks
Use group
FINANCIAL BUILDING
Status
For Lease
Year built
1960
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Total area
3,690 SF
Lot
0.53 ac (23,087 SF)
Zoning code
O&I
APN
0742.18-30-6498 0012575
UPID
US53-5427580
Jurisdiction
WAKE
Zoning & alternative use
O&I · Apex, NC
Zoning O&I · permitted uses
O&I · 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
1960
Heating
CENTRAL
Cooling
Yes
Stories
1
Lot
0.53 ac
Current owner
From public records · entity-resolved
Wilkinson Prop Of Nc LLC
Entity
Mailing address
104 DOWNING PL, APEX, NC 27502-9342
Ownership since
2020
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
Aug 3, 2020
—
Wilkinson Properties Of Nc LLC
—
Deed
related
$200,000 · South State Bank
Apr 3, 2020
$2,021,000
Wilkinson Prop Of Nc LLC
Arc Hr5stp3001 LLC
Grant Deed
—
Jul 15, 2011
—
Inland American St Portfol Jp3
Inland American St Portfolio L
Quit Claim Deed
related
$25,000,000 · J P Morgan Chase Bank
Dec 27, 2007
$1,385,000
Inland American Stportfolio Ll
Suntrust Bank
Grant Deed
—
—
—
Inland American Stportfolio Ll
—
Deed Of Trust
related
—
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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