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Property profile & analytics
OFF-MARKET
Estimated value
$1,890,000
Warehouses
2701 Connector Dr Wake Forest, NC 27587-4363
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US53-0651237
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2005
Construction
METAL FRAME
Total area
10,800 SF
Lot
3.01 ac (131,116 SF)
Zoning code
LI
APN
1739.04-63-6529 0312387
UPID
US53-0651237
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
-
H&E Equipment Services (Bike/Boat/Book/etc) Store Rental Equipment Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.57M
CAP Approach
CAP
$1.29M
Comparable Approach
Comparable
$1.83M
Blend (final)
Blend
$1.89M
Owner & transaction history
2701 Connector Partners LLC · 1 yrs held
2701 Connector Partners LLC
since 2025
Last sale
$2.0M
7 recorded transactions
Zoning & alternative use
LI · Wake Forest, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$2.6M
+26.9%
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
$2,595,000
ML approach
$2,570,000
CAP Approach
CAP Return
Estimation
6%
$1,400,000
6.5%
$1,290,000
7%
$1,200,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$2,035,000
Current use
RETAIL STORES
$2,580,000
Change: +27% · Conversion: Moderate
Blend value · Realmo final
$1.89M
Range $1.70M – $2.08M · ±10% · vs last sale $1.98M (Dec 16 2022)
Last sale anchor
$1.98M
Dec 16 2022
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
$175 / 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
$15,146
Tax year 2023
Assessed value
$1,303,418
Assessed 2023
Previous assessed
$1,303,418
+0.0% YoY
Effective rate
1.16%
On assessed value
Assessed land
$445,794
Assessed improvement
$857,624
Land market value
$445,794
Improvement market value
$857,624
Total market value
$1,303,418
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
2005
Construction
METAL FRAME
Heating
SPACE
Cooling
CENTRAL
Stories
1
Total area
10,800 SF
Lot
3.01 ac (131,116 SF)
Zoning code
LI
APN
1739.04-63-6529 0312387
UPID
US53-0651237
Jurisdiction
WAKE
Zoning & alternative use
LI · Wake Forest, NC
Zoning LI · permitted uses
LI · 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
WAREHOUSE, STORAGE Current
Est. value
$2.0M
RETAIL STORES
Est. value
$2.6M
WAREHOUSE, STORAGE Current
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
2005
Construction
METAL FRAME
Heating
SPACE
Cooling
Yes
Stories
1
Lot
3.01 ac
Current owner
From public records · entity-resolved
2701 Connector Partners LLC
Entity
Mailing address
450 MAIN ST, BATON ROUGE, LA 70801-1906
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
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 29, 2025
—
2701 Connector Partners LLC
—
Deed
related
$400,000,000 · Truist Bank
Jul 11, 2025
$2,153,000
2701 Connector Partners LLC
He Raleigh LLC
Special Warranty Deed
—
Dec 16, 2022
$1,975,000
He Raleigh LLC
East Coast Drilling & Blasting INC
Special Warranty Deed
$1,283,750 · First Horizon Bank
Mar 30, 2022
—
East Coast Drilling & Blasting INC
—
Deed
related
$2,450,000 · Townebank
Oct 21, 2019
—
East Coast Drilling & Blasting
—
Deed
related
$1,000,000 · Towne Bk
Feb 29, 2008
$146,000
Coast Drilling East
Fields,curtis J & Beverly J
Warranty Deed
$109,450 · Capital Bank NA
—
—
East Coast Drilling & Blasting
—
Deed Of Trust
related
$799,000 · Paragon Com'l Bk
—
—
East Coast Drilling & Blasting
—
Loan Modification
related
$1,000,000 · Towne Bk
—
—
Coast Drilling East
—
Deed Of Trust
related
$1,236,000 · Capital 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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