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Property profile & analytics
OFF-MARKET
Estimated value
$715,000
Grocery and convenience stores
2206 Main St Wake Forest, NC 27587-8818
Individually Owned
6-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US53-1597225
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
1977
Construction
BRICK
Total area
2,400 SF
Lot
0.52 ac (22,651 SF)
Zoning code
HB
APN
1739.02-79-0944 0121788
UPID
US53-1597225
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
-
Exxon Gas Station
-
Quality Food Mart Grocery & Convenience Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$655k
Comparable Approach
Comparable
$786k
Blend (final)
Blend
$715k
Owner & transaction history
Summit Inv · 6 yrs held
Summit Inv
since 2020
7 recorded transactions
Zoning & alternative use
HB · Wake Forest, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$830,000
+44.6%
Commercial (general)
$800,000
+39.2%
Medical building
$780,000
+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%
$710,000
6.5%
$655,000
7%
$610,000
Alternative Use
Use
Estimation
RETAIL STORES
$575,000
Current use
AUTO REPAIR, GARAGE
$830,000
Change: +45% · Conversion: Difficult
COMMERCIAL (GENERAL)
$800,000
Change: +39% · Conversion: Easy
MEDICAL BUILDING
$780,000
Change: +36% · Conversion: Difficult
OFFICE BUILDING
$520,000
Change: -9% · Conversion: Easy
Blend value · Realmo final
$715k
Range $644k – $787k · ±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
$298 / 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
$7,931
Tax year 2023
Assessed value
$682,543
Assessed 2023
Previous assessed
$682,543
+0.0% YoY
Effective rate
1.16%
On assessed value
Assessed land
$328,440
Assessed improvement
$354,103
Land market value
$328,440
Improvement market value
$354,103
Total market value
$682,543
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
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
Off-Market
Year built
1977
Construction
BRICK
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Total area
2,400 SF
Lot
0.52 ac (22,651 SF)
Zoning code
HB
APN
1739.02-79-0944 0121788
UPID
US53-1597225
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
$575,000
AUTO REPAIR, GARAGE
Est. value
$830,000
COMMERCIAL (GENERAL)
Est. value
$800,000
MEDICAL BUILDING
Est. value
$780,000
OFFICE BUILDING
Est. value
$520,000
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
1977
Construction
BRICK
Heating
CENTRAL
Cooling
Yes
Stories
1
Lot
0.52 ac
Current owner
From public records · entity-resolved
Summit Inv
Individual
Mailing address
1732 WACKENA RD, CARY, NC 27519-2551
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
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 20, 2020
—
Summit Inv
Riya LLC
Warranty Deed
related
—
Mar 25, 2019
$637,500
Summit Investments Group LLC
Riya LLC
Warranty Deed
$430,000 · Riya LLC
May 6, 2016
—
Riya LLC
—
Deed
related
$40,000 · First Fed'l Svgs Bk
Jan 3, 2011
—
Riya LLC
Priyaben LLC
Quit Claim Deed
related
—
Mar 29, 2004
—
Priyaben LLC
Wake Forest Quality Food Mart
Warranty Deed
related
—
—
—
Riya LLC
—
Deed Of Trust
related
$140,000 · Papco INC
—
—
Riya LLC
—
Deed Of Trust
related
$40,000 · First Fed'l Svgs Bk
—
—
Riya LLC
—
Deed Of Trust
related
$330,000 · Papco INC
—
—
Summit Investments Group LLC
—
Deed Of Trust
related
—
—
—
Priyaben LLC
—
Deed Of Trust
related
$1,125,000 · 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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