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Property profile & analytics
OFF-MARKET
Estimated value
$20,515,000
Garden apartment buildings
817 Stadium Dr, Wake Forest, NC 27587-8752
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US53-1137022
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1987
Construction
FRAME
Total area
5,964 SF
Lot
11.04 ac (480,902 SF)
Zoning code
GR10
APN
1841.13-04-7736 0104133
UPID
US53-1137022
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
-
May Photography Wedding Service Photography Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$20.31M
Blend (final)
Blend
$20.52M
Owner & transaction history
North Forest Re Investors LLC · 4 yrs held
North Forest Re Investors LLC
since 2022
Last sale
$22.8M
6 recorded transactions
Zoning & alternative use
GR10 · Wake Forest, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$26,380,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$20.52M
Range $18.46M – $22.57M · ±10% · vs last sale $22.75M (Feb 1 2022)
Last sale anchor
$22.75M
Feb 1 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
$3,440 / 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
$125,222
Tax year 2023
Assessed value
$10,583,650
Assessed 2023
Previous assessed
$10,583,650
+0.0% YoY
Effective rate
1.18%
On assessed value
Assessed land
$2,240,000
Assessed improvement
$8,343,650
Land market value
$2,240,000
Improvement market value
$8,343,650
Total market value
$10,583,650
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
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Status
Off-Market
Year built
1987
Construction
FRAME
Heating
CENTRAL
Cooling
CENTRAL
Stories
2
Units
8
Rooms
412
Total area
5,964 SF
Lot
11.04 ac (480,902 SF)
Zoning code
GR10
APN
1841.13-04-7736 0104133
UPID
US53-1137022
Jurisdiction
WAKE
Zoning & alternative use
GR10 · Wake Forest, NC
Zoning GR10 · permitted uses
GR10 · Wake Forest, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Wake Forest. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1987
Construction
FRAME
Heating
CENTRAL
Cooling
Yes
Stories
2
Units
8
Rooms
412
Lot
11.04 ac
Current owner
From public records · entity-resolved
North Forest Re Investors LLC
Entity
Mailing address
4155 BLACKHAWK PLZ CIR STE #201, DANVILLE, CA 94506-4613
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 1, 2022
$22,750,000
North Forest Re Investors LLC
North Forest Apartments LLC
Special Warranty Deed
$24,000,000 · Citibank NA
Sep 13, 2018
—
North Forest Apartments LLC
—
Deed
related
$7,000,000 · Arbor Com'l Fndg I LLC
Mar 16, 2011
$5,250,000
North Forest Apartments LLC
North Forest Associates LLC
Warranty Deed
related
$4,200,000 · Private Lender
Sep 1, 2005
$385,000
North Forest Associates LLC
North Forest Associates
Quit Claim Deed
related
$3,200,000 · Jackson National Life Ins Co
—
—
North Forest Apartments LLC
—
Deed Of Trust
related
$865,000 · Private Lender
—
—
North Forest Apartments LLC
—
Deed Of Trust
related
$7,000,000 · Arbor Com'l Fndg I LLC
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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