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Property profile & analytics
OFF-MARKET
Estimated value
$1,155,000
Strip malls
701 Parrish Dr 705, Benson, NC 27504-1760
Entity Owned
5-yr Hold
Free & Clear
Property ID
US53-2389378
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1981
Total area
7,750 SF
Lot
1.14 ac (49,658 SF)
Zoning code
SUP
APN
01030016M
UPID
US53-2389378
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
-
Forrest Fitness Gym & Fitness Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.36M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$748k
Blend (final)
Blend
$1.16M
Owner & transaction history
Trl Properties LLC · 5 yrs held
Trl Properties LLC
since 2020
Last sale
$1.2M
4 recorded transactions
Zoning & alternative use
SUP · Benson, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.7M
+52.2%
Office building
$1.3M
+14.0%
Retail stores
$1.2M
+9.1%
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 Benson submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Benson 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
$1,360,000
ML approach
$1,355,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$1,135,000
Current use
RESTAURANT
$1,730,000
Change: +52% · Conversion: Difficult
OFFICE BUILDING
$1,295,000
Change: +14% · Conversion: Moderate
RETAIL STORES
$1,240,000
Change: +9% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,180,000
Change: +4% · Conversion: Difficult
MEDICAL BUILDING
$1,125,000
Change: -1% · Conversion: Difficult
Blend value · Realmo final
$1.16M
Range $1.04M – $1.27M · ±10% · vs last sale $1.16M (Aug 31 2020)
Last sale anchor
$1.16M
Aug 31 2020
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 2024Property tax & assessments
Tax year 2024
Tax billed
$6,110
Tax year 2024
Assessed value
$484,920
Assessed 2024
Previous assessed
$484,920
+0.0% YoY
Effective rate
1.26%
On assessed value
Assessed land
$208,860
Assessed improvement
$276,060
Land market value
$208,860
Improvement market value
$276,060
Total market value
$484,920
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1981
Heating
HEAT PUMP
Cooling
CENTRAL
Stories
1
Bathrooms
2
Total area
7,750 SF
Lot
1.14 ac (49,658 SF)
Zoning code
SUP
APN
01030016M
UPID
US53-2389378
Jurisdiction
JOHNSTON
Zoning & alternative use
SUP · Benson, NC
Zoning SUP · permitted uses
SUP · Benson, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Benson. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$1.1M
RESTAURANT
Est. value
$1.7M
OFFICE BUILDING
Est. value
$1.3M
RETAIL STORES
Est. value
$1.2M
AUTO REPAIR, GARAGE
Est. value
$1.2M
MEDICAL BUILDING
Est. value
$1.1M
NEIGHBORHOOD: SHOPPING CENTER Current
RESTAURANT
OFFICE BUILDING
RETAIL STORES
AUTO REPAIR, GARAGE
MEDICAL BUILDING
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
1981
Heating
HEAT PUMP
Cooling
Yes
Stories
1
Bathrooms
2
Lot
1.14 ac
Current owner
From public records · entity-resolved
Trl Properties LLC
Entity
Free & Clear · 5 yrs held
Mailing address
PO BOX 911, DUNN, NC 28335-0911
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 31, 2020
$1,155,000
Trl Properties LLC
James Lockamy Real Estate LLC
Warranty Deed
—
Jun 26, 2009
$700,000
James Lockamy Real Estate LLC
New Century Bank
Grant Deed
$550,000 · First South Bank
Nov 14, 2008
—
Owner Name Unavailable
Owner Name Unavailable
Trustees Deed
related
—
—
—
James Lockamy Real Estate LLC
—
Deed Of Trust
related
$825,000 · First Bank
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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