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Property profile & analytics
OFF-MARKET
Estimated value
$6,535,000
Warehouses
203 Capcom Ave Ste 114 Wake Forest, NC 27587-6514
Entity Owned
6-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US53-5309007
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2001
Construction
METAL FRAME
Total area
40,233 SF
Lot
3.82 ac (166,399 SF)
Zoning code
HB
APN
1840.03-00-1725 0271788
UPID
US53-5309007
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
$8.14M
CAP Approach
CAP
$4.81M
Comparable Approach
Comparable
$6.86M
Blend (final)
Blend
$6.54M
Owner & transaction history
203 Capcom LLC · 6 yrs held
203 Capcom LLC
since 2020
Last sale
$5.1M
4 recorded transactions
Zoning & alternative use
HB · Wake Forest, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$9.6M
+26.9%
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
$8,395,000
ML approach
$8,135,000
CAP Approach
CAP Return
Estimation
6%
$5,210,000
6.5%
$4,810,000
7%
$4,465,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$7,575,000
Current use
RETAIL STORES
$9,610,000
Change: +27% · Conversion: Moderate
Blend value · Realmo final
$6.54M
Range $5.88M – $7.19M · ±10% · vs last sale $5.08M (Mar 30 2020)
Last sale anchor
$5.08M
Mar 30 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
$162 / 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
$54,933
Tax year 2024
Assessed value
$5,408,553
Assessed 2024
Previous assessed
$5,408,553
+0.0% YoY
Effective rate
1.02%
On assessed value
Assessed land
$517,199
Assessed improvement
$4,891,354
Land market value
$517,199
Improvement market value
$4,891,354
Total market value
$5,408,553
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
2001
Construction
METAL FRAME
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Total area
40,233 SF
Lot
3.82 ac (166,399 SF)
Zoning code
HB
APN
1840.03-00-1725 0271788
UPID
US53-5309007
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
$7.6M
RETAIL STORES
Est. value
$9.6M
WAREHOUSE, STORAGE Current
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
2001
Construction
METAL FRAME
Heating
CENTRAL
Cooling
Yes
Stories
1
Lot
3.82 ac
Current owner
From public records · entity-resolved
203 Capcom LLC
Entity
Mailing address
300 CARPATHIAN WAY, RALEIGH, NC 27615-1615
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 23, 2026
—
203 Capcom LLC
—
Deed
related
$2,900,000 · Benchmark Community Bank
Mar 30, 2020
$5,075,000
203 Capcom LLC
Capital Ent LLC
Warranty Deed
$3,425,000 · Farmers & Merchants Nat'l Bk
Jul 1, 2008
$4,850,000
Capital Ent LLC
Capital Commerce Assocs LLC
Warranty Deed
related
$3,400,000 · Suntrust Bank NA
—
—
Capital Ent LLC
—
Deed Of Trust
related
$3,152,108 · Fidelity 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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