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Property profile & analytics
OFF-MARKET
Garden apartment buildings
309 Bargate Dr Cary, NC 27511-5321
Entity Owned
5-yr Hold
Free & Clear
Property ID
US53-0612449
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1977
Construction
FRAME
Total area
20,800 SF
Lot
14.77 ac (643,381 SF)
Zoning code
RMF
APN
0763.13-23-0317 0111283
UPID
US53-0612449
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
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Cary Pines 2021 LLC · 5 yrs held
Cary Pines 2021 LLC
since 2021
Last sale
$23.5M
4 recorded transactions
Zoning & alternative use
RMF · Cary, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Cary submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Cary 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$224,975
Tax year 2023
Assessed value
$22,085,297
Assessed 2023
Previous assessed
$22,085,297
+0.0% YoY
Effective rate
1.02%
On assessed value
Assessed land
$4,692,000
Assessed improvement
$17,393,297
Land market value
$4,692,000
Improvement market value
$17,393,297
Total market value
$22,085,297
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
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Status
Off-Market
Year built
1977
Construction
FRAME
Heating
CENTRAL
Cooling
CENTRAL
Stories
2
Units
24
Rooms
648
Total area
20,800 SF
Lot
14.77 ac (643,381 SF)
Zoning code
RMF
APN
0763.13-23-0317 0111283
UPID
US53-0612449
Jurisdiction
WAKE
Zoning & alternative use
RMF · Cary, NC
Zoning RMF · permitted uses
RMF · Cary, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Cary. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1977
Construction
FRAME
Heating
CENTRAL
Cooling
Yes
Stories
2
Units
24
Rooms
648
Lot
14.77 ac
Current owner
From public records · entity-resolved
Cary Pines 2021 LLC
Entity
Free & Clear · 5 yrs held
Mailing address
2020 PONCE DE LEON BLVD STE 1005A, CORAL GABLES, FL 33134-4480
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 1, 2021
$23,450,000
Cary Pines 2021 LLC
New Cardinal Woods Assocs LLC
Grant Deed
—
Apr 1, 2021
—
Cary Pines 2021 LLC
New Cardinal Woods Assocs LLC
Quit Claim Deed
related
—
Aug 31, 2006
$7,200,000
New Cardinal Woods Assocs LLC
C-k Cardinal Woods LLC
Grant Deed
$5,900,000 · Capmark Financial INC
Oct 2, 2001
$7,061,000
C K Cardinal Woods LLC
C K Cardinal
Grant Deed
related
—
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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