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Property profile & analytics
OFF-MARKET
Estimated value
$2,330,000
Turn key restaurants
2108 Main St Wake Forest, NC 27587-8817
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US53-5803169
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
2005
Construction
BRICK
Total area
6,547 SF
Lot
1.69 ac (73,616 SF)
Zoning code
HB
APN
1830.04-70-9809 0323552
UPID
US53-5803169
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
-
Pat Murnane's Irish Pub Bar & Pub Nightclub
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.45M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.21M
Blend (final)
Blend
$2.33M
Owner & transaction history
The Norris 5 LLC · 5 yrs held
The Norris 5 LLC
since 2020
Last sale
$1.8M
6 recorded transactions
Zoning & alternative use
HB · Wake Forest, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$3.6M
+2.1%
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
$2,490,000
ML approach
$2,450,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$3,535,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$3,605,000
Change: +2% · Conversion: Difficult
Blend value · Realmo final
$2.33M
Range $2.10M – $2.56M · ±10% · vs last sale $1.75M (Sep 23 2020)
Last sale anchor
$1.75M
Sep 23 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
$356 / 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
$26,714
Tax year 2023
Assessed value
$2,298,935
Assessed 2023
Previous assessed
$2,298,935
+0.0% YoY
Effective rate
1.16%
On assessed value
Assessed land
$1,067,433
Assessed improvement
$1,231,502
Land market value
$1,067,433
Improvement market value
$1,231,502
Total market value
$2,298,935
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
2005
Construction
BRICK
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Total area
6,547 SF
Lot
1.69 ac (73,616 SF)
Zoning code
HB
APN
1830.04-70-9809 0323552
UPID
US53-5803169
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
RESTAURANT Current
Est. value
$3.5M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$3.6M
RESTAURANT Current
NEIGHBORHOOD: SHOPPING CENTER
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
2005
Construction
BRICK
Heating
CENTRAL
Cooling
Yes
Stories
1
Lot
1.69 ac
Current owner
From public records · entity-resolved
The Norris 5 LLC
Entity
Mailing address
3101 LARIAT RDG DR, WAKE FOREST, NC 27587-4808
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 3, 2023
—
The Norris 5 LLC
—
Deed
related
$1,719,258 · The Fidelity Bank
Sep 23, 2020
$1,750,000
The Norris 5 LLC
Psalm 1 3 LLC
Warranty Deed
$1,569,000 · Citizens Bank
Feb 13, 2013
$1,400,000
Psalm 1 3 LLC
Demp 46 Holdings LLC
Warranty Deed
$1,260,000 · Demp 46 Holdings LLC
Jun 1, 2009
$1,850,000
Demp 46 Holdings LLC
Midtown Niki Dp Investments
Grant Deed
related
$500,000 · First Place Bank
Feb 2, 2009
—
Niki Midtown Dp
Midtown Niki Dev Partners
Quit Claim Deed
related
—
Dec 14, 2006
$1,700,000
Midtown Niki Dev Partners
Wake Forest Property LLC
Grant Deed
—
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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