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Property profile & analytics
OFF-MARKET
Estimated value
$1,910,000
Medical Office Space
510 Nn St 540 Smithfield, NC 27577-4016
Entity Owned
1-yr Hold
Absentee Owner
Free & Clear
Property ID
US53-1652087
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1996
Total area
16,102 SF
Lot
1.66 ac (72,310 SF)
Zoning code
OFF
APN
15014031
UPID
US53-1652087
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.12M
Blend (final)
Blend
$1.91M
Owner & transaction history
Proper Tease LLC · 1 yrs held
Proper Tease LLC
since 2025
3 recorded transactions
Zoning & alternative use
OFF · Smithfield, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$2.6M
+10.0%
Auto repair, garage
$2.5M
+4.6%
Neighborhood: shopping center
$2.4M
+0.9%
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 Smithfield submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Smithfield 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
Alternative Use
Use
Estimation
MEDICAL BUILDING
$2,340,000
Current use
RETAIL STORES
$2,575,000
Change: +10% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,450,000
Change: +5% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$2,360,000
Change: +1% · Conversion: Difficult
OFFICE BUILDING
$2,205,000
Change: -6% · Conversion: Easy
COMMERCIAL (GENERAL)
$2,110,000
Change: -10% · Conversion: Easy
Blend value · Realmo final
$1.91M
Range $1.72M – $2.10M · ±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
$119 / 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
$25,921
Tax year 2024
Assessed value
$2,090,370
Assessed 2024
Previous assessed
$2,090,370
+0.0% YoY
Effective rate
1.24%
On assessed value
Assessed land
$269,520
Assessed improvement
$1,820,850
Land market value
$269,520
Improvement market value
$1,820,850
Total market value
$2,090,370
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1996
Heating
HEAT PUMP
Cooling
CENTRAL
Stories
1
Bathrooms
10
Total area
16,102 SF
Lot
1.66 ac (72,310 SF)
Zoning code
OFF
APN
15014031
UPID
US53-1652087
Jurisdiction
JOHNSTON
Zoning & alternative use
OFF · Smithfield, NC
Zoning OFF · permitted uses
OFF · Smithfield, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Smithfield. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$2.3M
RETAIL STORES
Est. value
$2.6M
AUTO REPAIR, GARAGE
Est. value
$2.5M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.4M
OFFICE BUILDING
Est. value
$2.2M
COMMERCIAL (GENERAL)
Est. value
$2.1M
MEDICAL BUILDING Current
RETAIL STORES
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
OFFICE BUILDING
COMMERCIAL (GENERAL)
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
1996
Heating
HEAT PUMP
Cooling
Yes
Stories
1
Bathrooms
10
Lot
1.66 ac
Current owner
From public records · entity-resolved
Proper Tease LLC
Entity
Free & Clear · 1 yrs held
Mailing address
2601 LK DR STE #201, RALEIGH, NC 27607-6689
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 14, 2025
$2,200,000
Proper Tease LLC
Five Gis Rex Properties LLC
Special Warranty Deed
—
Nov 25, 2019
$2,066,000
Five Gis Rex Properties LLC
Siamak Marzbani
Warranty Deed
$2,066,000 · First Citizens Bank & Trust Co
Oct 28, 2019
—
Remainder Samak M C Unitrust Trust
Mb Investments LLC
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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