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Property profile & analytics
OFF-MARKET
Estimated value
$3,050,000
Retail space
2109 Main St Wake Forest, NC 27587-9292
Entity Owned
7-yr Hold
~
Est. High Equity
Property ID
US53-4010315
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2000
Construction
METAL FRAME
Total area
12,000 SF
Lot
1.73 ac (75,359 SF)
Zoning code
HB
APN
1830.04-80-0139 0088365
UPID
US53-4010315
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
-
Dr. Daniel Sicking Physician
-
Durham Rescue Mission Thrift Store Wake Forest Discount Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.28M
Comparable Approach
Comparable
$3.36M
Blend (final)
Blend
$3.05M
Owner & transaction history
Wake Forest Thrift LLC · 7 yrs held
Wake Forest Thrift LLC
since 2018
5 recorded transactions
Zoning & alternative use
HB · Wake Forest, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$4.1M
+44.6%
Commercial (general)
$4.0M
+39.2%
Medical building
$3.9M
+36.0%
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%
$3,550,000
6.5%
$3,275,000
7%
$3,040,000
Alternative Use
Use
Estimation
RETAIL STORES
$2,865,000
Current use
AUTO REPAIR, GARAGE
$4,145,000
Change: +45% · Conversion: Difficult
COMMERCIAL (GENERAL)
$3,990,000
Change: +39% · Conversion: Easy
MEDICAL BUILDING
$3,900,000
Change: +36% · Conversion: Difficult
OFFICE BUILDING
$2,600,000
Change: -9% · Conversion: Easy
Blend value · Realmo final
$3.05M
Range $2.75M – $3.36M · ±10%
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
$254 / 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
Assessed value
$2,189,572
Assessed 2023
Previous assessed
$2,189,572
+0.0% YoY
Assessed land
$995,964
Assessed improvement
$1,193,608
Land market value
$995,964
Improvement market value
$1,193,608
Total market value
$2,189,572
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
2000
Construction
METAL FRAME
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Total area
12,000 SF
Lot
1.73 ac (75,359 SF)
Zoning code
HB
APN
1830.04-80-0139 0088365
UPID
US53-4010315
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
RETAIL STORES Current
Est. value
$2.9M
AUTO REPAIR, GARAGE
Est. value
$4.1M
COMMERCIAL (GENERAL)
Est. value
$4.0M
MEDICAL BUILDING
Est. value
$3.9M
OFFICE BUILDING
Est. value
$2.6M
RETAIL STORES Current
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
MEDICAL BUILDING
OFFICE BUILDING
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
2000
Construction
METAL FRAME
Heating
CENTRAL
Cooling
Yes
Stories
1
Lot
1.73 ac
Current owner
From public records · entity-resolved
Wake Forest Thrift LLC
Entity
Mailing address
507 E KNOX ST, DURHAM, NC 27701-1438
Ownership since
2018
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
Sep 19, 2018
—
Wake Forest Thrift LLC
Rescue Legacy Fund
Quit Claim Deed
related
—
Jul 26, 2018
$1,725,000
Rescue Legacy Fund
2109 South Main LLC
Warranty Deed
related
—
Jan 23, 2009
$726,500
2109 South Main LLC
Clg Properties LLC
Warranty Deed
$1,000,000 · Suntrust Bk/ne Ga
Jan 13, 2006
$550,000
Clg Properties LLC
Mrj Management Group LLC
Warranty Deed
—
—
—
Mrj Management Group LLC
—
Deed Of Trust
related
$700,000 · Capital Bk
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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