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    Property profile & analytics

    306 Wait Ave Wake Forest, NC 27587

    • Turn key restaurants
    • 1,482 SF
    • 0.39 lot acres
    For Sale
    View listing
    $750,000
    Value Estimation
    Location Intelligence
    Property ID
    US53-0064548
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Lumpy's Ice Cream / Ice Cream Shop
    • Eddie's Outback / Ice Cream Shop

    Property Details for 306 Wait Ave

    Year built
    1970
    Construction
    BRICK
    Lot size
    0.39 lot acres
    Property size
    1,482 SF
    Zone code
    RA HC
    Property type
    Turn key restaurants
    APN
    1841.19-51-7222 0062011
    APU
    1841195172220062011

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $260,000

    • CAP approach

      CAP return
      Estimation
      6%
      $280,000
      6.5%
      $305,000
      7%
      $270,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $260,000
      Geo Method
      $300,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $240,000
      Retail
      $265,000
      Mixed-Use
      $270,000
      Hospitality
      $305,000
      Educational
      $285,000
      Residential Income
      $260,000
      Energy
      $290,000
      Income-Based Land
      $270,000
      Food Service
      $240,000

    Location Insight

    • Map
    • Local Demand
    City
    Wake Forest
    County
    Wake
    State
    North Carolina
    Longitude
    -78.5075
    Latitude
    35.978
    CBSA code
    39580
    CBSA name
    RALEIGH-CARY, NC METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $3,565
    $136,074
    $137,700
    $273,774
    -
    $136,074
    $137,700
    $273,774

    Comparable in this City

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      3,402 SF

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      11206 Capital Blvd, Wake Forest, NC 27587-4521
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      11440 Capital Blvd

      RESTAURANT • 7,789 SF
      11440 Capital Blvd, Wake Forest, NC 27587-4523
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      11420 Capital Blvd

      RESTAURANT • 6,345 SF
      11420 Capital Blvd, Wake Forest, NC 27587-4523
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    • Value Estimation by Request
      6,629 SF

      11735 Retail Dr

      RESTAURANT • 6,629 SF
      11735 Retail Dr, Wake Forest, NC 27587-7350
      View Details

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    306 Wait Ave
    Wake Forest, NC 27587
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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