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Property profile & analytics
OFF-MARKET
Estimated value
$2,315,000
Retail space
2921 Wendell Blvd Wendell, NC 27591-7270
Individually Owned
9-yr Hold
~
Est. High Equity
Property ID
US53-0835002
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2003
Construction
CONCRETE BLOCKS
Total area
12,524 SF
Lot
1.61 ac (70,132 SF)
Zoning code
CMX
APN
1784.14-43-5851 0143516
UPID
US53-0835002
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.51M
Blend (final)
Blend
$2.32M
Owner & transaction history
1201 Nw 54th St Lc · 9 yrs held
1201 Nw 54th St Lc
since 2016
5 recorded transactions
Zoning & alternative use
CMX · Wendell, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The Corridor Mixed-Use District is coded to provide pedestrian-scaled higher density residential and neighborhood-serving commercial activities along existing mixed use corridors. Developments in this district should encourage pedestrian use through connections to adjacent neighborhoods and the construction of mixed-use buildings. Depending on the presence o…
Zone name
Corridor Mixed Use
General category
MIXED_USE
Zone area
284.58 ac
Source
Realmo
Top alternative use upside
Warehouse, storage
$2.6M
+17.7%
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 Wendell submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Wendell 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
RETAIL STORES
$2,230,000
Current use
WAREHOUSE, STORAGE
$2,625,000
Change: +18% · Conversion: Difficult
Blend value · Realmo final
$2.32M
Range $2.08M – $2.55M · ±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
$185 / 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
$18,335
Tax year 2023
Assessed value
$1,467,121
Assessed 2023
Previous assessed
$1,467,121
+0.0% YoY
Effective rate
1.25%
On assessed value
Assessed land
$379,476
Assessed improvement
$1,087,645
Land market value
$379,476
Improvement market value
$1,087,645
Total market value
$1,467,121
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
2003
Construction
CONCRETE BLOCKS
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Total area
12,524 SF
Lot
1.61 ac (70,132 SF)
Zoning code
CMX
APN
1784.14-43-5851 0143516
UPID
US53-0835002
Jurisdiction
WAKE
Zoning & alternative use
CMX · Wendell, NCZoning CMX · permitted uses
CMX · Wendell, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The Corridor Mixed-Use District is coded to provide pedestrian-scaled higher density residential and neighborhood-serving commercial activities along existing mixed use corridors. Developments in this district should encourage pedestrian use through connections to adjacent neighborhoods and the construction of mixed-use buildings. Depending on the presence of on-street parking, buildings may be set close to the street and may be larger in form
Zone name
Corridor Mixed Use
General category
MIXED_USE
Zone area
284.58 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$2.2M
WAREHOUSE, STORAGE
Est. value
$2.6M
RETAIL STORES Current
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
2003
Construction
CONCRETE BLOCKS
Heating
CENTRAL
Cooling
Yes
Stories
1
Lot
1.61 ac
Current owner
From public records · entity-resolved
1201 Nw 54th St Lc
Individual
Mailing address
11010 LK GRV BLVD STE #100, MORRISVILLE, NC 27560-7392
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 16, 2016
$975,000
1201 Nw 54th St Lc
Butler Wendell Dg LLC
Grant Deed
$680,000 · Wells Fargo Bk
Aug 16, 2016
—
1201 Nw 54th St Lc
Butler Wendell Dg LLC
Grant Deed
related
—
Aug 29, 2003
—
Butler Wendell Dg LLC
—
Deed Of Trust
related
—
Jul 2, 2003
$230,000
Wendell Nf LLC
—
Grant Deed
related
—
May 29, 2003
$230,000
Wendell Nf LLC
Rangar,jitinder
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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