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Property profile & analytics
OFF-MARKET
Estimated value
$5,060,000
Strip malls
3652 Rogers Rd Wake Forest, NC 27587-9306
Entity Owned
9-yr Hold
~
Est. High Equity
Property ID
US53-0280961
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2004
Construction
FRAME
Total area
17,865 SF
Lot
7.26 ac (316,246 SF)
Zoning code
NB
APN
1749.02-69-5135 0332936
UPID
US53-0280961
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
-
Stewart's Bistro Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$5.50M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$5.06M
Owner & transaction history
New Market-heritage LLC · 9 yrs held
New Market-heritage LLC
since 2016
6 recorded transactions
Zoning & alternative use
NB · Wake Forest, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The Neighborhood Business District is established as a district in which the principle use of land is for retail trade and services purposes of a lower intensity than the Highway Business (HB) District. Such districts are generally located near residential areas and cater to the everyday needs of nearby residential neighborhoods, stressing accessibility by a…
Zone name
Neighborhood Business
General category
COMMERCIAL
Zone area
140.74 ac
Source
Realmo
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%
$5,950,000
6.5%
$5,495,000
7%
$5,100,000
Blend value · Realmo final
$5.06M
Range $4.55M – $5.57M · ±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
$283 / 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
$121,530
Tax year 2023
Assessed value
$10,458,713
Assessed 2023
Previous assessed
$10,458,713
+0.0% YoY
Effective rate
1.16%
On assessed value
Assessed land
$2,973,067
Assessed improvement
$7,485,646
Land market value
$2,973,067
Improvement market value
$7,485,646
Total market value
$10,458,713
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
2004
Construction
FRAME
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Total area
17,865 SF
Lot
7.26 ac (316,246 SF)
Zoning code
NB
APN
1749.02-69-5135 0332936
UPID
US53-0280961
Jurisdiction
WAKE
Zoning & alternative use
NB · Wake Forest, NCZoning 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
Zoning description
The Neighborhood Business District is established as a district in which the principle use of land is for retail trade and services purposes of a lower intensity than the Highway Business (HB) District. Such districts are generally located near residential areas and cater to the everyday needs of nearby residential neighborhoods, stressing accessibility by automobiles, bicycles, and pedestrians.
Zone name
Neighborhood Business
General category
COMMERCIAL
Zone area
140.74 ac
Source
Realmo
Building & site characteristics
From public records
Year built
2004
Construction
FRAME
Heating
CENTRAL
Cooling
Yes
Stories
1
Lot
7.26 ac
Current owner
From public records · entity-resolved
New Market-heritage LLC
Entity
Mailing address
3284 NORTHSIDE PKWY NW STE #515, ATLANTA, GA 30327-2286
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 31, 2019
—
New Market-heritage LP
—
Deed
related
$9,400,000 · Miscellaneous Ins Co
Aug 12, 2016
$14,250,000
New Market-heritage LLC
Hr Heritage Station LLC
Trustees Deed
$9,400,000 · Miscellaneous Ins Co
Aug 12, 2016
—
New Market-heritage LLC
Hr Heritage Station LLC
Grant Deed
related
—
Jan 29, 2009
$10,845,000
Wri Hr Heritage Station LLC
Heritage Ht 1 LLC
Grant Deed
related
—
—
—
New Market-heritage LP
—
Loan Modification
related
$9,400,000 · Miscellaneous Ins Co
—
—
Heritage Ht 1 LLC
—
Deed Of Trust
related
$1,652,283 · Weingarten Nostat 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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