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Property profile & analytics
OFF-MARKET
Estimated value
$875,000
Investment properties
408 Main St, Holly Springs, NC 27540
Entity Owned
Absentee Owner
Free & Clear
Property ID
US53-2717026
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1952
Construction
CONCRETE BLOCKS
Total area
4,120 SF
Lot
1.46 ac (63,598 SF)
Zoning code
TV
APN
0649.20-90-1581 0026772
UPID
US53-2717026
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$875k
CAP Approach
CAP
$875k
Comparable Approach
Comparable
$682k
Blend (final)
Blend
$875k
Owner & transaction history
GRIGSBY, GEORGE T JR HEIRS · 2 yrs held
GRIGSBY, GEORGE T JR HEIRS
since 2024
Last sale
$875,500
1 recorded transaction
Zoning & alternative use
TV · Holly Springs, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.4M
+3.8%
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 Holly Springs submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Holly Springs 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
$875,000
ML approach
$875,000
CAP Approach
CAP Return
Estimation
6%
$950,000
6.5%
$875,000
7%
$810,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,370,000
Current use
AUTO REPAIR, GARAGE
$1,425,000
Change: +4% · Conversion: Difficult
MEDICAL BUILDING
$1,340,000
Change: -2% · Conversion: Easy
RETAIL STORES
$1,305,000
Change: -5% · Conversion: Easy
Blend value · Realmo final
$875k
Range $788k – $963k · ±10% · vs last sale $876k (Nov 4 2024)
Last sale anchor
$876k
Nov 4 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
$212 / 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
$2,728
Tax year 2023
Assessed value
$249,248
Assessed 2023
Previous assessed
$249,248
+0.0% YoY
Effective rate
1.09%
On assessed value
Assessed land
$242,107
Assessed improvement
$7,141
Land market value
$242,107
Improvement market value
$7,141
Total market value
$249,248
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
1952
Construction
CONCRETE BLOCKS
Heating
NONE
Cooling
CENTRAL
Stories
2
Units
2
Rooms
12
Total area
4,120 SF
Lot
1.46 ac (63,598 SF)
Zoning code
TV
APN
0649.20-90-1581 0026772
UPID
US53-2717026
Jurisdiction
WAKE
Zoning & alternative use
TV · Holly Springs, NC
Zoning TV · permitted uses
TV · Holly Springs, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Holly Springs. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$1.4M
AUTO REPAIR, GARAGE
Est. value
$1.4M
MEDICAL BUILDING
Est. value
$1.3M
RETAIL STORES
Est. value
$1.3M
COMMERCIAL (GENERAL) Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
RETAIL STORES
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
1952
Construction
CONCRETE BLOCKS
Heating
NONE
Cooling
Yes
Stories
2
Units
2
Rooms
12
Lot
1.46 ac
Current owner
From public records · entity-resolved
GRIGSBY, GEORGE T JR HEIRS
Individual
Free & Clear · 2 yrs held
Mailing address
6910 S CIMARRON RD STE #240, LAS VEGAS, NV 89113-2281
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 4, 2024
$875,500
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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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