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Property profile & analytics
FOR SALE
Office buildings
230 N Equity Dr Smithfield, NC 27577
Entity Owned
4-yr Hold
Absentee Owner
Free & Clear
Property ID
US53-0837820
For Sale
1 / 26
$1,950,000
230 N Equity Dr, Smithfield, NC 27577
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1994
Total area
15,690 SF
Lot
2.42 ac (105,415 SF)
Zoning code
COM
APN
15008045C
UPID
US53-0837820
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
$1.70M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.74M
Blend (final)
Blend
$1.71M
Owner & transaction history
Anchor Properties Of Raleigh LLC · 4 yrs held
Anchor Properties Of Raleigh LLC
since 2021
Last sale
$1.4M
2 recorded transactions
Zoning & alternative use
COM · Smithfield, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source
Zoning Code Definitions
Top alternative use upside
Retail stores
$2.5M
+16.7%
Auto repair, garage
$2.4M
+10.9%
Neighborhood: shopping center
$2.3M
+7.0%
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 Smithfield submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Smithfield 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
$1,785,000
ML approach
$1,695,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$2,150,000
Current use
RETAIL STORES
$2,510,000
Change: +17% · Conversion: Moderate
AUTO REPAIR, GARAGE
$2,385,000
Change: +11% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$2,300,000
Change: +7% · Conversion: Difficult
MEDICAL BUILDING
$2,280,000
Change: +6% · Conversion: Easy
COMMERCIAL (GENERAL)
$2,060,000
Change: -4% · Conversion: Easy
Blend value · Realmo final
$1.71M
Range $1.53M – $1.88M · ±10% · vs last sale $1.43M (Dec 9 2021)
Last sale anchor
$1.43M
Dec 9 2021
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
$109 / 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
$15,609
Tax year 2024
Assessed value
$1,258,810
Assessed 2024
Previous assessed
$1,258,810
+0.0% YoY
Effective rate
1.24%
On assessed value
Assessed land
$540,500
Assessed improvement
$718,310
Land market value
$540,500
Improvement market value
$718,310
Total market value
$1,258,810
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
Office buildings
Use group
OFFICE BUILDING
Status
For Sale
Year built
1994
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Bathrooms
4
Total area
15,690 SF
Lot
2.42 ac (105,415 SF)
Zoning code
COM
APN
15008045C
UPID
US53-0837820
Jurisdiction
JOHNSTON
Zoning & alternative use
COM · Smithfield, NCZoning COM · permitted uses
COM · Smithfield, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
Zoning Code Definitions
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$2.2M
RETAIL STORES
Est. value
$2.5M
AUTO REPAIR, GARAGE
Est. value
$2.4M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.3M
MEDICAL BUILDING
Est. value
$2.3M
COMMERCIAL (GENERAL)
Est. value
$2.1M
OFFICE BUILDING Current
RETAIL STORES
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
MEDICAL BUILDING
COMMERCIAL (GENERAL)
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
1994
Heating
FORCED AIR
Cooling
Yes
Stories
1
Bathrooms
4
Lot
2.42 ac
Current owner
From public records · entity-resolved
Anchor Properties Of Raleigh LLC
Entity
Free & Clear · 4 yrs held
Mailing address
503 WRENNSTONE CT, APEX, NC 27539-5109
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 9, 2021
$1,431,000
Anchor Properties Of Raleigh LLC
Smart Simon Properties LLC
Warranty Deed
—
May 1, 2015
$100,000
Partners Equity Group
Stuart Simon Properties LLC
Warranty 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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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