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Property profile & analytics
OFF-MARKET
Estimated value
$3,190,000
Office buildings
320 Salem St Apex, NC 27502-1481
Entity Owned
5-yr Hold
Absentee Owner
Free & Clear
Property ID
US53-0516241
Property summary
AI-generated overview
This exceptional single-tenant office space, located at 320 N Salem St, Unit 106B, in Apex, North Carolina's vibrant Downtown Apex submarket (zip code 27502), offers 400-550 square feet of versatile space. Ideal for businesses seeking a first-floor presence, this property boasts a convenient private entrance and easy access to a parking lot. The open floor plan provides maximum flexibility for various business configurations. The space is zoned B1 within Apex's Downtown District. A shared kitchenette is available for tenant use. Adding to its appeal, a new electric vehicle charging station is being installed in the immediate vicinity. The property's location offers easy walking access to the town hall, enhancing its accessibility and convenience. This retail and office space is perfect for a variety of businesses.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2006
Construction
BRICK
Total area
17,352 SF
Lot
0.97 ac (42,253 SF)
Zoning code
B1
APN
0742.18-42-7160 0019160
UPID
US53-0516241
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
-
GoPrime Mortgage, Inc. Corporate Office
-
Tap Station Bar & Pub Restaurant
-
Dr. Michael Borgert Alternative Medicine Practice
-
FedEx Drop Box Postal Service Courier Service
-
Dr. Derek Musciano Alternative Medicine Practice
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.29M
Blend (final)
Blend
$3.19M
Owner & transaction history
Hcr Asset Management LLC · 5 yrs held
Hcr Asset Management LLC
since 2021
7 recorded transactions
Zoning & alternative use
B1 · Apex, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Warehouse, storage
$4.2M
+27.7%
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 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$3,290,000
Current use
WAREHOUSE, STORAGE
$4,195,000
Change: +28% · Conversion: Difficult
Blend value · Realmo final
$3.19M
Range $2.87M – $3.51M · ±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
$184 / 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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
2006
Construction
BRICK
Heating
CENTRAL
Cooling
CENTRAL
Stories
3
Rooms
9
Bathrooms
2
Total area
17,352 SF
Lot
0.97 ac (42,253 SF)
Zoning code
B1
APN
0742.18-42-7160 0019160
UPID
US53-0516241
Jurisdiction
WAKE
Zoning & alternative use
B1 · Apex, NC
Zoning B1 · permitted uses
B1 · 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
$3.3M
WAREHOUSE, STORAGE
Est. value
$4.2M
OFFICE BUILDING 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
2006
Construction
BRICK
Heating
CENTRAL
Cooling
Yes
Stories
3
Rooms
9
Bathrooms
2
Lot
0.97 ac
Current owner
From public records · entity-resolved
Hcr Asset Management LLC
Entity
Free & Clear · 5 yrs held
Mailing address
1113 N PO BOX 1117TH DR, APEX, NC 27502-3117
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
16 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 20, 2022
—
K2 Holdings LLC
—
Deed
related
$990,000 · The Fidelity Bank
Mar 22, 2021
—
Hcr Asset Management LLC
Prime Asset Management LLC
Warranty Deed
—
Nov 18, 2020
—
Manuel B Flores
—
Deed
related
$182,000 · First Bk
Mar 30, 2020
—
Fj Investments LLC
—
Deed
related
$300,000 · The Fidelity Bank
Aug 29, 2019
—
K2 Holdings LLC
Kromenhoek,jeff & Meredith
Warranty Deed
related
—
May 24, 2019
$650,000
Jeff Kromenhoek
Yates,michael A
Warranty Deed
—
May 24, 2019
—
Fj Investments LLC
—
Deed
related
$300,000 · Wells Fargo Bk
Jan 5, 2017
—
Prime Asset Management LLC
Prime Mtg Lndg INC
Quitclaim Deed
related
$793,000 · Paragon Com'l Bk
Jan 5, 2017
$250,000
Borgert Wellness LLC
Prime Mtg Lndg INC
Warranty Deed
$459,000 · Southern First Bk NA
May 23, 2016
$261,000
Prime Mtg Lndg INC
L Kelly Holdings LLC
Warranty Deed
related
$203,150 · Paragon Com'l Bk
Mar 8, 2007
$499,000
Treyburn Realty LLC
N & I Properties LLC
Warranty Deed
$133,000 · Suntrust Bank NA
Jan 26, 2007
$494,000
Hcr Holdings LLC
N & I Properties LLC
Warranty Deed
related
$444,500 · Crescent State Bank
Dec 20, 2006
$239,500
Ward Real Estate Investing LLC
N & I Properties LLC
Warranty Deed
$215,298 · Crescent State Bank
Dec 12, 2006
$260,500
Nancy C Dyer
N & I Properties LLC
Warranty Deed
$234,000 · Suntrust Bank NA
Dec 5, 2006
—
Commons A Condo Duncan
Owner,record
Grant Deed
related
—
—
—
N & I Properties LLC
—
Deed Of Trust
related
$2,377,600 · First Tennessee Bank National
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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