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Property profile & analytics
OFF-MARKET
Estimated value
$960,000
Office Spaces
408 Summitt Dr, Sanford, NC 27330-3840
Entity Owned
6-yr Hold
Free & Clear
Property ID
US53-2900708
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1975
Total area
9,801 SF
Lot
0.92 ac (39,901 SF)
Zoning code
OFFICE & INSTITUTIONAL
APN
9642-59-0976-00
UPID
US53-2900708
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
-
Lee County Finance County Government Office
-
Lee County Human Resources County Government Office
-
Lee County Manager's Office County Government Office
-
soraka salon Hair Salon
-
Sanford City GIS City Government Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$852k
Blend (final)
Blend
$960k
Owner & transaction history
County Of Lee · 6 yrs held
County Of Lee
since 2019
6 recorded transactions
Zoning & alternative use
OFFICE & INSTITUTIONAL · Sanford, 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 Sanford submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Sanford 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%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$960k
Range $864k – $1.06M · ±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
$98 / 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 2022Property tax & assessments
Tax year 2022
Assessed value
$907,300
Assessed 2023
Previous assessed
$785,000
+15.6% YoY
Assessed land
$59,900
Assessed improvement
$847,400
Land market value
$59,900
Improvement market value
$847,400
Total market value
$907,300
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
Office Spaces
Use group
OFFICE (GENERAL)
Status
Off-Market
Year built
1975
Heating
YES
Cooling
NONE
Stories
1
Total area
9,801 SF
Lot
0.92 ac (39,901 SF)
Zoning code
OFFICE & INSTITUTIONAL
APN
9642-59-0976-00
UPID
US53-2900708
Jurisdiction
LEE
Zoning & alternative use
OFFICE & INSTITUTIONAL · Sanford, NC
Zoning OFFICE & INSTITUTIONAL · permitted uses
OFFICE & INSTITUTIONAL · Sanford, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Sanford. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1975
Heating
YES
Cooling
Yes
Stories
1
Lot
0.92 ac
Current owner
From public records · entity-resolved
County Of Lee
Entity
Free & Clear · 6 yrs held
Mailing address
PO BOX 1968, SANFORD, NC 27331-1968
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2019
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
Oct 11, 2019
$1,114,000
County Of Lee
Richard B Hearn
Warranty Deed
—
Nov 28, 2017
$38,500
Lee Cnty
Boyer,gordon
Warranty Deed
—
Nov 1, 2012
—
Lee County
Howard,paul O & Barbara E J
Warranty Deed
related
—
Nov 1, 2012
$675,000
Lee County
Howard,paul O & Barbara E J
Warranty Deed
related
$675,000 · Paul O & Barbara E J Howard
Jan 24, 2006
$250,000
Paul O Howard
Dusenbury,philip E & Helen H
Warranty Deed
related
—
Dec 20, 2005
—
Paul O Howard
Summitt Building Ptshp
Warranty 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.
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