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Property profile & analytics
OFF-MARKET
Estimated value
$11,000,000
Strip malls
2422 Cary Pkwy Cary, NC 27513-5318
Entity Owned
4-yr Hold
Free & Clear
Property ID
US53-0970979
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1988
Construction
CONCRETE BLOCKS
Total area
29,211 SF
Lot
10.59 ac (461,300 SF)
Zoning code
GCP
APN
0753.14-32-1888 0179126
UPID
US53-0970979
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
-
Afghan kebab Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$11.05M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$11.37M
Blend (final)
Blend
$11.00M
Owner & transaction history
Ohio S M Venture Limited Partnershi · 4 yrs held
Ohio S M Venture Limited Partnershi
since 2021
Last sale
$10.2M
3 recorded transactions
Zoning & alternative use
GCP · Cary, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$17.3M
+7.3%
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 Cary submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Cary 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
$12,170,000
ML approach
$11,050,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$16,095,000
Current use
COMMERCIAL (GENERAL)
$17,265,000
Change: +7% · Conversion: Easy
RESTAURANT
$15,215,000
Change: -5% · Conversion: Difficult
RETAIL STORES
$13,500,000
Change: -16% · Conversion: Easy
Blend value · Realmo final
$11.00M
Range $9.90M – $12.10M · ±10% · vs last sale $10.20M (Sep 2 2021)
Last sale anchor
$10.20M
Sep 2 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
$377 / 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
$106,717
Tax year 2023
Assessed value
$10,650,440
Assessed 2023
Previous assessed
$10,650,440
+0.0% YoY
Effective rate
1.00%
On assessed value
Assessed land
$5,166,560
Assessed improvement
$5,483,880
Land market value
$5,166,560
Improvement market value
$5,483,880
Total market value
$10,650,440
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1988
Construction
CONCRETE BLOCKS
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Total area
29,211 SF
Lot
10.59 ac (461,300 SF)
Zoning code
GCP
APN
0753.14-32-1888 0179126
UPID
US53-0970979
Jurisdiction
WAKE
Zoning & alternative use
GCP · Cary, NC
Zoning GCP · permitted uses
GCP · Cary, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Cary. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$16.1M
COMMERCIAL (GENERAL)
Est. value
$17.3M
RESTAURANT
Est. value
$15.2M
RETAIL STORES
Est. value
$13.5M
NEIGHBORHOOD: SHOPPING CENTER Current
COMMERCIAL (GENERAL)
RESTAURANT
RETAIL STORES
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
1988
Construction
CONCRETE BLOCKS
Heating
CENTRAL
Cooling
Yes
Stories
1
Lot
10.59 ac
Current owner
From public records · entity-resolved
Ohio S M Venture Limited Partnershi
Entity
Free & Clear · 4 yrs held
Mailing address
3201 OLD GLENVIEW RD STE #235, WILMETTE, IL 60091-2996
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 2, 2021
$10,200,000
Ohio S M Venture Limited Partnershi
Scp Parkway Pointe LLC
Limited Warranty Deed
—
Sep 3, 2014
$9,900,000
Scp Parkway Pointe LLC
Weingarten Nostat INC
Trustees Deed
$6,400,000 · Miscellaneous Ins Co
Jun 29, 2001
$6,250,000
Weingarten Nostat INC
Parkway Pointe A
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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