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Property profile & analytics
OFF-MARKET
Estimated value
$6,700,000
Medical Office Space
2824 Rogers Rd Wake Forest, NC 27587-3895
Entity Owned
7-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US53-0116473
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2007
Construction
BRICK
Total area
27,520 SF
Lot
2.76 ac (120,226 SF)
Zoning code
HB
APN
1840.03-01-5805 0289237
UPID
US53-0116473
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
-
Lisa H. Mayes, DDS Dental Office
-
Brian Pressley Dental Office
-
Dr. Michael Monahan Physician
-
Patricia Matheis, MD Physician Medical Clinic
-
Avail Aesthetics - Wake Forest Spa & Massage Center Alternative Medicine Practice
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$8.94M
Blend (final)
Blend
$6.70M
Owner & transaction history
Tpd Properties LLC · 7 yrs held
Tpd Properties LLC
since 2019
7 recorded transactions
Zoning & alternative use
HB · Wake Forest, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The Highway Business District is generally located on the major thoroughfares in town and provides opportunities for the provision of offices, services, and retail goods. The regulations for this district are intended to accommodate the predominately auto-oriented pattern of existing development while encouraging the creation of new pedestrian-friendly, mixe…
Zone name
Highway Business
General category
MIXED_USE
Zone area
843.70 ac
Source
Realmo
Top alternative use upside
Auto repair, garage
$9.5M
+6.3%
Commercial (general)
$9.2M
+2.4%
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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$8,940,000
Current use
AUTO REPAIR, GARAGE
$9,505,000
Change: +6% · Conversion: Difficult
COMMERCIAL (GENERAL)
$9,155,000
Change: +2% · Conversion: Easy
Blend value · Realmo final
$6.70M
Range $6.03M – $7.37M · ±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
$243 / 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
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
2007
Construction
BRICK
Heating
CENTRAL
Cooling
CENTRAL
Stories
2
Bathrooms
2
Total area
27,520 SF
Lot
2.76 ac (120,226 SF)
Zoning code
HB
APN
1840.03-01-5805 0289237
UPID
US53-0116473
Jurisdiction
WAKE
Zoning & alternative use
HB · Wake Forest, NCZoning 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
Zoning description
The Highway Business District is generally located on the major thoroughfares in town and provides opportunities for the provision of offices, services, and retail goods. The regulations for this district are intended to accommodate the predominately auto-oriented pattern of existing development while encouraging the creation of new pedestrian-friendly, mixed-use areas that avoid strip commercial development and establish more resilient land development patterns
Zone name
Highway Business
General category
MIXED_USE
Zone area
843.70 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$8.9M
AUTO REPAIR, GARAGE
Est. value
$9.5M
COMMERCIAL (GENERAL)
Est. value
$9.2M
MEDICAL BUILDING Current
AUTO REPAIR, GARAGE
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
2007
Construction
BRICK
Heating
CENTRAL
Cooling
Yes
Stories
2
Bathrooms
2
Lot
2.76 ac
Current owner
From public records · entity-resolved
Tpd Properties LLC
Entity
Mailing address
2800 WAKEFIELD PNES DR STE #110, RALEIGH, NC 27614-8597
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 24, 2025
—
Gladwell Properties LLC
—
Deed
related
$5,697,786 · The Fidelity Bank
Mar 29, 2021
—
Gladwell Properties LLC
—
Deed
related
$687,896 · Fidelity Bk
Mar 9, 2020
—
Gladwell Properties LLC
—
Deed
related
$462,546 · Truist Bk
Jul 17, 2019
$400,000
Tpd Properties LLC
Innate Properties LLC
Warranty Deed
$380,000 · First Citizens Bk
May 29, 2009
—
Heritage Health Park LLC
—
Deed Of Trust
related
$5,100,000 · Suntrust Bank NA
Aug 26, 2005
$982,000
Heritage Health Park LLC
Franklin Village LLC
Warranty Deed
$982,000 · Suntrust Bank NA
—
—
Heritage Health Park LLC
—
Deed Of Trust
related
$1,054,258 · Suntrust 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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