New search
Property profile & analytics
OFF-MARKET
Estimated value
$1,250,000
Retail space
400 Salem St, Apex, NC 27502-1434
Entity Owned
1-yr Hold
Absentee Owner
Free & Clear
Property ID
US53-0810501
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1925
Construction
BRICK
Total area
1,288 SF
Lot
0.63 ac (27,443 SF)
Zoning code
B1
APN
0742.18-42-7268 0037915
UPID
US53-0810501
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
-
Frasketta Pizza Romana Take-out & Catering
-
Lunatics Deli & Grill Take-out & Catering
-
The Apex Food Truck Park Restaurant
-
Taqueria El Pinito Restaurant
-
Salem Street Car Care Center Auto Repair Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.25M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.25M
Owner & transaction history
Ionna LLC · 1 yrs held
Ionna LLC
since 2024
Last sale
$1.3M
7 recorded transactions
Zoning & alternative use
B1 · Apex, 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 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
$1,250,000
ML approach
$1,250,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.25M
Range $1.13M – $1.38M · ±10% · vs last sale $1.25M (Sep 25 2024)
Last sale anchor
$1.25M
Sep 25 2024
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
$970 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$5,241
Tax year 2024
Assessed value
$614,067
Assessed 2024
Previous assessed
$614,067
+0.0% YoY
Effective rate
0.85%
On assessed value
Assessed land
$445,949
Assessed improvement
$168,118
Land market value
$445,949
Improvement market value
$168,118
Total market value
$614,067
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1925
Construction
BRICK
Heating
NONE
Cooling
CENTRAL
Stories
1
Total area
1,288 SF
Lot
0.63 ac (27,443 SF)
Zoning code
B1
APN
0742.18-42-7268 0037915
UPID
US53-0810501
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.
Building & site characteristics
From public records
Year built
1925
Construction
BRICK
Heating
NONE
Cooling
Yes
Stories
1
Lot
0.63 ac
Current owner
From public records · entity-resolved
Ionna LLC
Entity
Free & Clear · 1 yrs held
Mailing address
20800 N MADRONA AVE, TORRANCE, CA 90503-4915
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 25, 2024
$1,250,000
Ionna LLC
Just Four On Salem LLC
Special Warranty Deed
—
Jul 27, 2022
$600,000
Just Four On Salem LLC
Joseph V Iannone JR
Warranty Deed
$450,000 · Hometrust Bank
Jan 28, 2022
—
Sauls Investment Properties LLC
Allen B Hueter
Deed
—
Jan 27, 2022
$640,000
Sauiss Investment Properties LLC
Stuart B White
Warranty Deed
—
Nov 26, 2013
—
Walter C Hollingsworth II
Hollingsworth,walter C III & Ashley
Quit Claim Deed
related
—
Nov 26, 2013
$300,000
Joseph V Iannone JR.
Hollingsworth,walter C II & Laura
Warranty Deed
$195,000 · Capstone Bk
May 8, 2008
—
Walter C Hollingsworth III
Hollingsworth Auto Detail
Quit Claim 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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 400 Salem St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
