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Property profile & analytics
OFF-MARKET
Estimated value
$1,895,000
Medical Office Space
640 Oak St Forest City, NC 28043-3470
Entity Owned
14-yr Hold
~
Est. High Equity
Property ID
US53-2681201
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2002
Total area
17,755 SF
Lot
7.05 ac (307,098 SF)
Zoning code
R8
APN
1603649
UPID
US53-2681201
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
$1.94M
Blend (final)
Blend
$1.90M
Owner & transaction history
Awo Rentals LLC · 14 yrs held
Awo Rentals LLC
since 2011
2 recorded transactions
Zoning & alternative use
R8 · Forest City, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$2.0M
+43.9%
Retail stores
$1.5M
+8.4%
Restaurant
$1.4M
+2.1%
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 Forest City submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Forest City 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
$1,380,000
Current use
AUTO REPAIR, GARAGE
$1,985,000
Change: +44% · Conversion: Difficult
RETAIL STORES
$1,495,000
Change: +8% · Conversion: Difficult
RESTAURANT
$1,410,000
Change: +2% · Conversion: Difficult
Blend value · Realmo final
$1.90M
Range $1.71M – $2.08M · ±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
$107 / 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 2021Property tax & assessments
Tax year 2021
Tax billed
$25,784
Tax year 2021
Assessed value
$2,875,500
Assessed 2023
Previous assessed
$2,875,500
+0.0% YoY
Effective rate
0.90%
On assessed value
Assessed land
$707,300
Assessed improvement
$2,168,200
Land market value
$707,300
Improvement market value
$2,168,200
Total market value
$2,875,500
Applied tax rate
4.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
2002
Heating
FORCED AIR
Cooling
PARTIAL
Stories
1
Bathrooms
11
Total area
17,755 SF
Lot
7.05 ac (307,098 SF)
Zoning code
R8
APN
1603649
UPID
US53-2681201
Jurisdiction
RUTHERFORD
Zoning & alternative use
R8 · Forest City, NC
Zoning R8 · permitted uses
R8 · Forest City, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Forest City. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$1.4M
AUTO REPAIR, GARAGE
Est. value
$2.0M
RETAIL STORES
Est. value
$1.5M
RESTAURANT
Est. value
$1.4M
MEDICAL BUILDING Current
AUTO REPAIR, GARAGE
RETAIL STORES
RESTAURANT
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
2002
Heating
FORCED AIR
Cooling
Yes
Stories
1
Bathrooms
11
Lot
7.05 ac
Current owner
From public records · entity-resolved
Awo Rentals LLC
Entity
Mailing address
335 E PARKER RD, MORGANTON, NC 28655-5112
Ownership since
2011
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 21, 2011
—
Awo Rentals LLC
Awo Rentals
Quit Claim Deed
related
$6,500,000 · Newbridge Bank
Dec 19, 2011
—
Awo Rentals LLC
Awo,rentals
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.
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