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Property profile & analytics
OFF-MARKET
Estimated value
$1,990,000
Specialty properties
701 Harris Rd Wake Forest, NC 27587-7405
Individually Owned
23-yr Hold
Free & Clear
Property ID
US53-2356625
Property profile
Verified
Property type
Specialty properties
Use group
PROFESSIONAL CLUBS/ASSOCIATIONS
Year built
2018
Construction
FRAME
Total area
18,128 SF
Lot
117.38 ac (5,113,073 SF)
Zoning code
OS
APN
1841.06-38-1114 0124493
UPID
US53-2356625
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
-
E. Carroll Joyner Park Park Tourist Attraction
-
Joy2bFit Gym & Fitness Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.99M
Owner & transaction history
Town Of Wake Forest The · 23 yrs held
Town Of Wake Forest The
since 2003
2 recorded transactions
Zoning & alternative use
OS · Wake Forest, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The Open Space District is established to preserve and protect environmentally sensitive lands (e.g. floodways, wetlands) and properties that are already under public ownership and/or otherwise restricted for use for passive or active recreational use
Zone name
Open Space
General category
OPEN_SPACE
Zone area
1,039.44 ac
Source
Realmo
Top alternative use upside
Retail stores
$3.2M
+44.5%
Office building
$3.2M
+41.8%
Restaurant
$3.0M
+31.8%
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 Wake Forest submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Wake Forest 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
CLUBS, LODGES, PROFESSIONAL ASSOCIATIONS
$2,240,000
Current use
RETAIL STORES
$3,240,000
Change: +44% · Conversion: Difficult
OFFICE BUILDING
$3,175,000
Change: +42% · Conversion: Difficult
RESTAURANT
$2,955,000
Change: +32% · Conversion: Difficult
MEDICAL BUILDING
$2,935,000
Change: +31% · Conversion: Difficult
COMMERCIAL (GENERAL)
$2,810,000
Change: +25% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,820,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$1.99M
Range $1.79M – $2.19M · ±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
$110 / 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
Assessed value
$9,156,454
Assessed 2023
Previous assessed
$9,156,454
+0.0% YoY
Assessed land
$4,999,720
Assessed improvement
$4,156,734
Land market value
$4,999,720
Improvement market value
$4,156,734
Total market value
$9,156,454
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
Specialty properties
Use group
PROFESSIONAL CLUBS/ASSOCIATIONS
Status
Off-Market
Year built
2018
Construction
FRAME
Heating
CENTRAL
Cooling
CENTRAL
Stories
2
Total area
18,128 SF
Lot
117.38 ac (5,113,073 SF)
Zoning code
OS
APN
1841.06-38-1114 0124493
UPID
US53-2356625
Jurisdiction
WAKE
Zoning & alternative use
OS · Wake Forest, NCZoning OS · permitted uses
OS · Wake Forest, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The Open Space District is established to preserve and protect environmentally sensitive lands (e.g. floodways, wetlands) and properties that are already under public ownership and/or otherwise restricted for use for passive or active recreational use
Zone name
Open Space
General category
OPEN_SPACE
Zone area
1,039.44 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
CLUBS, LODGES, PROFESSIONAL ASSOCIATIONS Current
Est. value
$2.2M
RETAIL STORES
Est. value
$3.2M
OFFICE BUILDING
Est. value
$3.2M
RESTAURANT
Est. value
$3.0M
MEDICAL BUILDING
Est. value
$2.9M
COMMERCIAL (GENERAL)
Est. value
$2.8M
AUTO REPAIR, GARAGE
Est. value
$1.8M
CLUBS, LODGES, PROFESSIONAL ASSOCIATIONS Current
RETAIL STORES
OFFICE BUILDING
RESTAURANT
MEDICAL BUILDING
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
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
2018
Construction
FRAME
Heating
CENTRAL
Cooling
Yes
Stories
2
Lot
117.38 ac
Current owner
From public records · entity-resolved
Town Of Wake Forest The
Individual
Free & Clear · 23 yrs held
Mailing address
301 BRKS ST, WAKE FOREST, NC 27587-2901
Ownership since
2003
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
Mar 11, 2003
$4,150,000
Town Of Wake Forest The
Trust For Public
Grant Deed
—
Feb 21, 2003
—
Trust For Public Land The
Trust For Public
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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