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Property profile & analytics
OFF-MARKET
Estimated value
$3,440,000
Investment properties
225 Salem St, Apex, NC 27502-2402
Entity Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US53-0112229
Property profile
Verified
Property type
Investment properties
Use group
STORE/OFFICE (MIXED USE)
Year built
1917
Construction
BRICK
Total area
15,976 SF
Lot
0.71 ac (30,928 SF)
Zoning code
B2
APN
0742.18-41-2642 0031294
UPID
US53-0112229
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
-
Root 101 (Bike/Boat/Book/etc) Store Specialty Food Shop
-
The Exchange Barbershop and Lounge Barber Shop
-
Arcadia Consulting Engineers Engineering Consultant
-
Historic Tobacco & Mule Exchange Shopping Center & Mall
-
Neat & Sweet Lounge At Scratch Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.39M
Comparable Approach
Comparable
$4.46M
Blend (final)
Blend
$3.44M
Owner & transaction history
Mj2 Holdings LLC · 1 yrs held
Mj2 Holdings LLC
since 2025
6 recorded transactions
Zoning & alternative use
B2 · Apex, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$5.5M
+3.8%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$3,675,000
6.5%
$3,390,000
7%
$3,150,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$5,315,000
Current use
AUTO REPAIR, GARAGE
$5,520,000
Change: +4% · Conversion: Difficult
MEDICAL BUILDING
$5,190,000
Change: -2% · Conversion: Easy
Blend value · Realmo final
$3.44M
Range $3.10M – $3.78M · ±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
$215 / 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
$28,445
Tax year 2023
Assessed value
$2,592,983
Assessed 2023
Previous assessed
$2,592,983
+0.0% YoY
Effective rate
1.10%
On assessed value
Assessed land
$742,272
Assessed improvement
$1,850,711
Land market value
$742,272
Improvement market value
$1,850,711
Total market value
$2,592,983
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
Investment properties
Use group
STORE/OFFICE (MIXED USE)
Status
Off-Market
Year built
1917
Construction
BRICK
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Total area
15,976 SF
Lot
0.71 ac (30,928 SF)
Zoning code
B2
APN
0742.18-41-2642 0031294
UPID
US53-0112229
Jurisdiction
WAKE
Zoning & alternative use
B2 · Apex, NC
Zoning B2 · permitted uses
B2 · 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.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$5.3M
AUTO REPAIR, GARAGE
Est. value
$5.5M
MEDICAL BUILDING
Est. value
$5.2M
COMMERCIAL (GENERAL) Current
AUTO REPAIR, GARAGE
MEDICAL 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
1917
Construction
BRICK
Heating
CENTRAL
Cooling
Yes
Stories
1
Lot
0.71 ac
Current owner
From public records · entity-resolved
Mj2 Holdings LLC
Entity
Mailing address
7600 JERICHO TPKE STE #402, WOODBURY, NY 11797-1705
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
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
Mar 14, 2025
$4,525,000
Mj2 Holdings LLC
Brand Apex LLC
Special Warranty Deed
$4,425,000 · The Fidelity Bank
Jul 9, 2013
$1,850,000
Lscg Fund 7-tobacco & Mule LLC
Burch Dorothy B
Trustees Deed
related
—
Feb 10, 2009
$1,050,000
Tobacco & Mule Exchange LLC
Helm Builders LLC
Warranty Deed
$2,350,000 · Branch Banking & Trust Co
Sep 12, 2007
—
Helm Builders LLC
—
Trustees Deed
related
$2,400,000 · Branch Banking & Trust Co
Dec 29, 2006
$1,050,000
Helm Builders LLC
Ttfg Property Group LLC
Warranty Deed
$800,000 · Branch Banking & Trust Co
Oct 18, 2006
$800,000
Ttfg Property Group LLC
Rodneys Custom-cut Sign Co In
Warranty Deed
$650,000 · Wachovia 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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