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Property profile & analytics
OFF-MARKET
Estimated value
$3,100,000
Office buildings
4900 Waters Edge Dr Raleigh, NC 27606-2463
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US53-5554041
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1976
Construction
FRAME
Total area
20,832 SF
Lot
1.58 ac (68,825 SF)
Zoning code
OX-3
APN
0783.10-36-1962 0112470
UPID
US53-5554041
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
-
Learn with the Best High School
-
Gateway Christian Fellowship Church
-
EDR Engineering Civil Engineer
-
Mariah Mauney Physician Medical Clinic
-
NC Division Of Rehabilitation Rehabilitation Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.10M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.95M
Blend (final)
Blend
$3.10M
Owner & transaction history
Sps Investment LLC · 2 yrs held
Sps Investment LLC
since 2024
Last sale
$3.1M
6 recorded transactions
Zoning & alternative use
OX-3 · Raleigh, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The OX-3 is intended to provide for a variety of office and employment uses whileallowing for housing and limited retail and service related options
Zone name
Office Mixed Use
General category
MIXED_USE
Zone area
2,273.34 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 Raleigh submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Raleigh 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
$3,100,000
ML approach
$3,100,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$4,065,000
Current use
Blend value · Realmo final
$3.10M
Range $2.79M – $3.41M · ±10% · vs last sale $3.10M (Apr 17 2024)
Last sale anchor
$3.10M
Apr 17 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
$149 / 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
$23,210
Tax year 2023
Assessed value
$2,129,382
Assessed 2023
Previous assessed
$2,129,382
+0.0% YoY
Effective rate
1.09%
On assessed value
Assessed land
$823,835
Assessed improvement
$1,305,547
Land market value
$823,835
Improvement market value
$1,305,547
Total market value
$2,129,382
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 buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1976
Construction
FRAME
Heating
CENTRAL
Cooling
CENTRAL
Stories
2
Total area
20,832 SF
Lot
1.58 ac (68,825 SF)
Zoning code
OX-3
APN
0783.10-36-1962 0112470
UPID
US53-5554041
Jurisdiction
WAKE
Zoning & alternative use
OX-3 · Raleigh, NCZoning OX-3 · permitted uses
OX-3 · Raleigh, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The OX-3 is intended to provide for a variety of office and employment uses whileallowing for housing and limited retail and service related options
Zone name
Office Mixed Use
General category
MIXED_USE
Zone area
2,273.34 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$4.1M
OFFICE BUILDING Current
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
1976
Construction
FRAME
Heating
CENTRAL
Cooling
Yes
Stories
2
Lot
1.58 ac
Current owner
From public records · entity-resolved
Sps Investment LLC
Entity
Mailing address
PO BOX 556, HUNTERSVILLE, NC 28070-0556
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 27, 2026
—
Sps Investment LLC
—
Deed
related
$1,935,000
Apr 17, 2024
$3,100,000
Sps Investment LLC
4900 Waters Edge Drive LLC
Warranty Deed
$1,953,000 · Benchmark Community Bank
Sep 27, 2019
$2,125,000
4900 Waters Edge Drive LLC
We Partners LLC
Grant Deed
$1,593,750 · Townebank Mtg
Jul 24, 2014
—
We Partners LLC
—
Trustees Deed
related
$2,516,700 · Park Sterling Bk
Sep 5, 2008
$2,450,000
We Partners LLC
Wedco LLC
Grant Deed
$1,965,000 · Baltimore Life Insurance Co
—
—
Wedco LLC
—
Deed Of Trust
related
$100,000 · Capital Bank NA
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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