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Property profile & analytics
OFF-MARKET
Estimated value
$5,095,000
Office buildings
2850 Milano Ave Apex, NC 27502
Entity Owned
Free & Clear
Property ID
US53-1791881
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2021
Construction
BRICK
Total area
20,808 SF
Lot
13.99 ac (609,404 SF)
Zoning code
RR-CZ
APN
0721.01-45-1852 0059749
UPID
US53-1791881
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
-
Apex Electric Utilities Department Government Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$5.24M
Comparable Approach
Comparable
$5.18M
Blend (final)
Blend
$5.10M
Owner & transaction history
APEX TOWN
APEX TOWN
Zoning & alternative use
RR-CZ · Apex, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$7.2M
+82.3%
Commercial (general)
$6.9M
+75.6%
Medical building
$6.8M
+71.5%
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%
$5,680,000
6.5%
$5,240,000
7%
$4,865,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$3,940,000
Current use
AUTO REPAIR, GARAGE
$7,185,000
Change: +82% · Conversion: Difficult
COMMERCIAL (GENERAL)
$6,920,000
Change: +76% · Conversion: Easy
MEDICAL BUILDING
$6,760,000
Change: +72% · Conversion: Easy
WAREHOUSE, STORAGE
$5,030,000
Change: +28% · Conversion: Difficult
Blend value · Realmo final
$5.10M
Range $4.59M – $5.60M · ±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
$245 / 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
Assessed value
$4,834,067
Assessed 2023
Previous assessed
$4,834,067
+0.0% YoY
Assessed land
$925,685
Assessed improvement
$3,908,382
Land market value
$925,685
Improvement market value
$3,908,382
Total market value
$4,834,067
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
Off-Market
Year built
2021
Construction
BRICK
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Total area
20,808 SF
Lot
13.99 ac (609,404 SF)
Zoning code
RR-CZ
APN
0721.01-45-1852 0059749
UPID
US53-1791881
Jurisdiction
WAKE
Zoning & alternative use
RR-CZ · Apex, NC
Zoning RR-CZ · permitted uses
RR-CZ · 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
OFFICE BUILDING Current
Est. value
$3.9M
AUTO REPAIR, GARAGE
Est. value
$7.2M
COMMERCIAL (GENERAL)
Est. value
$6.9M
MEDICAL BUILDING
Est. value
$6.8M
WAREHOUSE, STORAGE
Est. value
$5.0M
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
MEDICAL BUILDING
WAREHOUSE, STORAGE
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
2021
Construction
BRICK
Heating
CENTRAL
Cooling
Yes
Stories
1
Lot
13.99 ac
Current owner
From public records · entity-resolved
APEX TOWN
Individual
Free & Clear · 0 yrs held
Mailing address
PO BOX 250, APEX, NC 27502-0250
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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