Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3240 Rogers Rd Wake Forest, NC 27587-3804

    • Specialty properties
    • 5,452 SF
    • 2.11 lot acres
    OFF-MARKET
    Value Estimations
    $615,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-3984427
    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

    • Heritage Animal Hospital / Veterinary Clinic

    Property Details for 3240 Rogers Rd

    Year built
    2020
    Construction
    FRAME
    Lot size
    2.11 lot acres
    Property size
    5,452 SF
    Zone code
    NB
    Property type
    Specialty properties
    APN
    1840.03-20-8842 0436576
    APU
    1840032088420436576

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $465,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $767,000
      Market price range: $335k - $768k

    • Alternative Use

      Use
      Estimation
      VETERINARY, ANIMAL HOSPITAL
      $510,000
      Current use
      RETAIL STORES
      $975,000
      Change: +91% Conversion: Difficult
      OFFICE BUILDING
      $955,000
      Change: +87% Conversion: Difficult
      RESTAURANT
      $890,000
      Change: +74% Conversion: Difficult
      MEDICAL BUILDING
      $880,000
      Change: +73% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $845,000
      Change: +65% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $545,000
      Change: +7% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Wake Forest
    County
    Wake
    State
    North Carolina
    Longitude
    -78.5174
    Latitude
    35.9494
    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
    $21,012
    $735,296
    $1,072,935
    $1,808,231
    -
    $735,296
    $1,072,935
    $1,808,231

    Comparable in this City

    • Value Estimation by Request
      0.39 Acres

      505 Cedar Ave

      SBE - SPECIAL ASSESSMENTS • 0.39 Acres
      505 Cedar Ave, Wake Forest, NC 27587
      View Details
    • Value Estimation by Request
      1,454 SF

      300 Austin Vw Blvd

      PROFESSIONAL CLUBS/ASSOCIATIONS • 1,454 SF
      300 Austin Vw Blvd, Wake Forest, NC 27587-1809
      View Details
    • Value Estimation by Request
      2,100 SF

      931 Copper Beech Ln

      PROFESSIONAL CLUBS/ASSOCIATIONS • 2,100 SF
      931 Copper Beech Ln, Wake Forest, NC 27587-1927
      View Details
    • Value Estimation by Request
      846 SF

      4320 Grn Drake Dr

      PROFESSIONAL CLUBS/ASSOCIATIONS • 846 SF
      4320 Grn Drake Dr, Wake Forest, NC 27587-3985
      View Details
    • Value Estimation by Request
      2.31 Acres

      13216 Bold Run Hl Rd

      SBE - SPECIAL ASSESSMENTS • 2.31 Acres
      13216 Bold Run Hl Rd, Wake Forest, NC 27587-8004
      View Details
    • Value Estimation by Request
      2,513 SF

      804 Heritage Lk Rd

      PROFESSIONAL CLUBS/ASSOCIATIONS • 2,513 SF
      804 Heritage Lk Rd, Wake Forest, NC 27587-4246
      View Details

    Similar Nearby for Sale

    • $125,000
      1.40 Acres

      Residential Land in Wake Forest

      1.4-acre residential lot near Wake Forest and Creedmoor.
      3141 Willow Creek Dr, Wake Forest, NC 27587
      View Details
    • Contact for pricing

      Residential Lot in Wake Forest

      Residential lot ready for new home construction in Wake Forest.
      6104 Hope Farm Ln, Wake Forest, NC 27587
      View Details
    • $1,650,000
      1.69 Acres

      Wake Forest Land For Sale

      10.76 acres of land available in Wake Forest, NC.
      1005 Chalk Rd, Wake Forest, NC 27587
      View Details
    • $925,000
      1.01 Acres

      Wake Forest Multifamily Investment Opportunity

      Four properties for sale, including homes and vacant lots.
      12329 Old Falls Of Neuse Rd, Wake Forest, NC 27587
      View Details
    • $70,000
      Pending

      Wake Forest Wooded Lot

      1.34-acre wooded lot in Wake Forest, North Carolina.
      Dogwood Hill Ln, Wake Forest, NC 27587
      View Details
    • Contact for pricing

      Wake Forest Acreage For Sale

      2.98 acre lot in Wake Forest near retail.
      3832 Rogers Rd, Wake Forest, NC 27587
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      High-Visibility Retail Center in Raleigh

      Well-located retail center with diverse tenant mix and strong traffic.
      14460 New Fls Of Neuse Rd, Wake Forest, NC 27587
      View Details
    • Contact for pricing

      Wake Forest Retail Space

      Retail and restaurant spaces available for lease in Wake Forest.
      12255 Capital Blvd, Wake Forest, NC 27587
      View Details
    • $17 SF/Yr

      Wake Forest Flex Space Available

      7,241 SF flex space with offices and warehouse areas.
      741 Merritt Capital Dr, Wake Forest, NC 27587
      View Details
    • Contact for pricing

      Executive Offices in Wake Forest

      Private offices with utilities included, convenient location, short-term leases.
      1890 S Main St, Wake Forest, NC 27587
      View Details
    • $1,818 /Mo
      16,000 SF

      Turn-Key Commissary Kitchen Ready Now

      Fully equipped commercial kitchen for immediate occupancy and diverse culinary operations.
      5107 Unicon Dr, Wake Forest, NC 27587
      View Details
    • Contact for pricing

      Wake Forest Business Center Retail

      Retail spaces available in Wake Forest business center.
      12339 Wake Union Church Rd, Wake Forest, NC 27587
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3240 Rogers Rd
    Wake Forest, NC 27587-3804
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!