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Property profile & analytics
OFF-MARKET
Estimated value
$7,205,000
Medical Office Space
7535 Carpenter Fire Sta Rd Cary, NC 27519-8968
Entity Owned
4-yr Hold
Free & Clear
Property ID
US53-2747705
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2014
Construction
CONCRETE BLOCKS
Total area
17,936 SF
Lot
1.5 ac (65,340 SF)
Zoning code
GCP
APN
0735.03-04-5243 0232337
UPID
US53-2747705
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
-
Dr. Brian Leech Dental Office
-
Dr. John Thorp Physician
-
Dr. Faith Daggs Physician
-
Dr. Jonathan Puza Dental Office
-
Jenna Alvey Dental Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$7.78M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$6.70M
Blend (final)
Blend
$7.21M
Owner & transaction history
Hr North Carolina LLC · 4 yrs held
Hr North Carolina LLC
since 2022
Last sale
$7.0M
7 recorded transactions
Zoning & alternative use
GCP · Cary, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$10.6M
+71.6%
Neighborhood: shopping center
$9.9M
+59.9%
Restaurant
$9.3M
+51.2%
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 Cary submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Cary 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
$7,550,000
ML approach
$7,780,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$6,180,000
Current use
COMMERCIAL (GENERAL)
$10,600,000
Change: +72% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$9,885,000
Change: +60% · Conversion: Difficult
RESTAURANT
$9,345,000
Change: +51% · Conversion: Difficult
RETAIL STORES
$8,290,000
Change: +34% · Conversion: Difficult
AUTO REPAIR, GARAGE
$7,575,000
Change: +23% · Conversion: Difficult
Blend value · Realmo final
$7.21M
Range $6.48M – $7.93M · ±10% · vs last sale $7.00M (Jun 2 2022)
Last sale anchor
$7.00M
Jun 2 2022
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
$402 / 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
$45,488
Tax year 2023
Assessed value
$4,539,757
Assessed 2023
Previous assessed
$4,539,757
+0.0% YoY
Effective rate
1.00%
On assessed value
Assessed land
$1,091,178
Assessed improvement
$3,448,579
Land market value
$1,091,178
Improvement market value
$3,448,579
Total market value
$4,539,757
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
2014
Construction
CONCRETE BLOCKS
Heating
CENTRAL
Cooling
CENTRAL
Stories
2
Rooms
7
Bathrooms
2
Total area
17,936 SF
Lot
1.5 ac (65,340 SF)
Zoning code
GCP
APN
0735.03-04-5243 0232337
UPID
US53-2747705
Jurisdiction
WAKE
Zoning & alternative use
GCP · Cary, NC
Zoning GCP · permitted uses
GCP · Cary, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Cary. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$6.2M
COMMERCIAL (GENERAL)
Est. value
$10.6M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$9.9M
RESTAURANT
Est. value
$9.3M
RETAIL STORES
Est. value
$8.3M
AUTO REPAIR, GARAGE
Est. value
$7.6M
MEDICAL BUILDING Current
COMMERCIAL (GENERAL)
NEIGHBORHOOD: SHOPPING CENTER
RESTAURANT
RETAIL STORES
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
2014
Construction
CONCRETE BLOCKS
Heating
CENTRAL
Cooling
Yes
Stories
2
Rooms
7
Bathrooms
2
Lot
1.5 ac
Current owner
From public records · entity-resolved
Hr North Carolina LLC
Entity
Free & Clear · 4 yrs held
Mailing address
PO BOX 92129, SOUTHLAKE, TX 76092-0102
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 2, 2022
$7,000,000
Hr North Carolina LLC
Carpenter Fs Rd 7535 LLC
Special Warranty Deed
—
Oct 2, 2019
—
Carpenter Fs Rd 7535 LLC
—
Deed
related
$3,750,000 · First Nat'l Bk/pa
Feb 19, 2015
$3,415,000
Carpenter Fs Rd 7535 LLC
Cary Park Associates LLC
Trustees Deed
$3,800,000 · Wells Fargo Bk
May 31, 2013
—
Cary Park Associates LLC
—
Trustees Deed
related
$3,200,000 · Vantagesouth Bank
Mar 5, 2013
—
Carpenter Fs Rd 7535 LLC
Cary Park Associates LLC
Grant Deed
related
—
Mar 14, 2008
$579,000
Cary Park Associates LLC
Panther Creek-raleigh
Grant Deed
$984,000 · Harrington Bank Fsb
Nov 1, 2002
$75,500
Panther Creek Raleigh Ltd
Panther,creek R
Grant Deed
related
—
—
—
Carpenter Fs Rd 7535 LLC
—
Deed Of Trust
related
$3,750,000 · First Nat'l Bk/pa
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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