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Property profile & analytics
OFF-MARKET
Estimated value
$4,510,000
Drug stores
3601 Rogers Rd Wake Forest, NC 27587-7634
Entity Owned
10-yr Hold
~
Est. High Equity
Property ID
US53-0720715
Property profile
Verified
Property type
Drug stores
Use group
DRUG STORE, PHARMACY
Year built
2005
Construction
CONCRETE BLOCKS
Total area
15,196 SF
Lot
2.77 ac (120,661 SF)
Zoning code
NB
APN
1749.02-69-7629 0342030
UPID
US53-0720715
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
-
Walgreens Photo (Bike/Boat/Book/etc) Store
-
Eric Seidel, RPh Pharmacy
-
Tammy W. Shealy, PharmD Pharmacy
-
Farrah G. Pickett, PharmD Pharmacy
-
Thomas E. O'Reilly, PharmD Pharmacy
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$4.15M
Comparable Approach
Comparable
$4.97M
Blend (final)
Blend
$4.51M
Owner & transaction history
M Walkon Associates INC · 10 yrs held
M Walkon Associates INC
since 2016
5 recorded transactions
Zoning & alternative use
NB · Wake Forest, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$5.3M
+44.6%
Commercial (general)
$5.1M
+39.2%
Medical building
$4.9M
+36.0%
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 Wake Forest submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Wake Forest 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%
$4,495,000
6.5%
$4,150,000
7%
$3,850,000
Alternative Use
Use
Estimation
RETAIL STORES
$3,630,000
Current use
AUTO REPAIR, GARAGE
$5,250,000
Change: +45% · Conversion: Difficult
COMMERCIAL (GENERAL)
$5,055,000
Change: +39% · Conversion: Easy
MEDICAL BUILDING
$4,935,000
Change: +36% · Conversion: Difficult
OFFICE BUILDING
$3,295,000
Change: -9% · Conversion: Easy
Blend value · Realmo final
$4.51M
Range $4.06M – $4.96M · ±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
$297 / 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
$61,888
Tax year 2023
Assessed value
$5,325,974
Assessed 2023
Previous assessed
$5,325,974
+0.0% YoY
Effective rate
1.16%
On assessed value
Assessed land
$1,290,532
Assessed improvement
$4,035,442
Land market value
$1,290,532
Improvement market value
$4,035,442
Total market value
$5,325,974
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
Drug stores
Use group
DRUG STORE, PHARMACY
Status
Off-Market
Year built
2005
Construction
CONCRETE BLOCKS
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Total area
15,196 SF
Lot
2.77 ac (120,661 SF)
Zoning code
NB
APN
1749.02-69-7629 0342030
UPID
US53-0720715
Jurisdiction
WAKE
Zoning & alternative use
NB · Wake Forest, NC
Zoning NB · permitted uses
NB · Wake Forest, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Wake Forest. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$3.6M
AUTO REPAIR, GARAGE
Est. value
$5.3M
COMMERCIAL (GENERAL)
Est. value
$5.1M
MEDICAL BUILDING
Est. value
$4.9M
OFFICE BUILDING
Est. value
$3.3M
RETAIL STORES Current
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
MEDICAL BUILDING
OFFICE BUILDING
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
2005
Construction
CONCRETE BLOCKS
Heating
CENTRAL
Cooling
Yes
Stories
1
Lot
2.77 ac
Current owner
From public records · entity-resolved
M Walkon Associates INC
Entity
Mailing address
300 WILMOT RD, DEERFIELD, IL 60015-4614
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
May 26, 2020
—
M Walkon Associates INC
—
Deed
related
$3,488,467 · Flagstar Bk
May 31, 2016
$6,500,000
M Walkon Associates INC
Fulton North Carolina Rainbow
Grant Deed
$3,800,000 · Flagstar Bk
Jul 21, 2006
$5,859,000
Fulton North Carolina Rainbow
Heritage Lake Dev Co LLC
Grant Deed
—
—
—
M Walkon Associates INC
—
Loan Modification
related
$3,488,467 · Flagstar Bk
—
—
Fulton North Carolina Rainbow
—
Deed Of Trust
related
$2,929,000 · Ubs Real Estate Investment INC
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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