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Property profile & analytics
OFF-MARKET
Estimated value
$3,470,000
Day care centers
844 Heritage Lk Rd, Wake Forest, NC 27587-4246
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US53-5791565
Property profile
Verified
Property type
Day care centers
Use group
DAY CARE, PRE-SCHOOL
Year built
2005
Construction
FRAME
Total area
10,240 SF
Lot
2.02 ac (87,991 SF)
Zoning code
GR10
APN
1840.04-70-4781 0308675
UPID
US53-5791565
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
-
Primrose School of Heritage Wake Forest Daycare Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.05M
Blend (final)
Blend
$3.47M
Owner & transaction history
N Square II Properties LLC · 5 yrs held
N Square II Properties LLC
since 2020
Last sale
$3.5M
7 recorded transactions
Zoning & alternative use
GR10 · Wake Forest, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$5.6M
+97.9%
Restaurant
$5.5M
+93.9%
Auto repair, garage
$3.5M
+24.1%
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 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
COLLEGE, UNIVERSITY, VOCATIONAL SCHOOL - PRIVATE
$2,850,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$5,640,000
Change: +98% · Conversion: Difficult
RESTAURANT
$5,525,000
Change: +94% · Conversion: Difficult
AUTO REPAIR, GARAGE
$3,535,000
Change: +24% · Conversion: Difficult
COMMERCIAL (GENERAL)
$3,405,000
Change: +19% · Conversion: Difficult
MEDICAL BUILDING
$3,325,000
Change: +17% · Conversion: Difficult
RETAIL STORES
$2,445,000
Change: -14% · Conversion: Difficult
Blend value · Realmo final
$3.47M
Range $3.12M – $3.82M · ±10% · vs last sale $3.50M (Jul 6 2020)
Last sale anchor
$3.50M
Jul 6 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
$339 / 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
$31,360
Tax year 2023
Assessed value
$2,698,790
Assessed 2023
Previous assessed
$2,698,790
+0.0% YoY
Effective rate
1.16%
On assessed value
Assessed land
$403,879
Assessed improvement
$2,294,911
Land market value
$403,879
Improvement market value
$2,294,911
Total market value
$2,698,790
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
Day care centers
Use group
DAY CARE, PRE-SCHOOL
Status
Off-Market
Year built
2005
Construction
FRAME
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Total area
10,240 SF
Lot
2.02 ac (87,991 SF)
Zoning code
GR10
APN
1840.04-70-4781 0308675
UPID
US53-5791565
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.
Alternative use value scenarios
Repositioning upside vs current use
COLLEGE, UNIVERSITY, VOCATIONAL SCHOOL - PRIVATE Current
Est. value
$2.9M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$5.6M
RESTAURANT
Est. value
$5.5M
AUTO REPAIR, GARAGE
Est. value
$3.5M
COMMERCIAL (GENERAL)
Est. value
$3.4M
MEDICAL BUILDING
Est. value
$3.3M
RETAIL STORES
Est. value
$2.4M
COLLEGE, UNIVERSITY, VOCATIONAL SCHOOL - PRIVATE Current
NEIGHBORHOOD: SHOPPING CENTER
RESTAURANT
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
MEDICAL BUILDING
RETAIL STORES
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
2005
Construction
FRAME
Heating
CENTRAL
Cooling
Yes
Stories
1
Lot
2.02 ac
Current owner
From public records · entity-resolved
N Square II Properties LLC
Entity
Mailing address
7124 MISTY SPGS CT, CARY, NC 27519-7596
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
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 6, 2020
$3,500,000
N Square II Properties LLC
Pettis Properties LLC
Warranty Deed
$1,805,500 · Meadows Bank
Jan 9, 2020
—
Pettis Properties LLC
—
Deed
related
$1,330,000 · Fidelity Bk
Dec 31, 2014
—
Pettis Properties LLC
—
Grant Deed
related
$1,655,000 · Branch Bk&tr
Mar 31, 2006
$2,297,000
Pettis Properties LLC
Pages Creek Properties LLC
Warranty Deed
$300,000 · Cit Small Business Lending Co
Jul 6, 2005
$331,000
Pages Creek Properties LLC
Primrose School Franchising
Grant Deed
$1,700,000 · Wachovia Bank NA
Feb 15, 2005
$283,500
Primrose School Franchising Co
Heritage Wake Forest INC
Warranty Deed
—
—
—
Pettis Properties LLC
—
Deed Of Trust
related
$1,330,000 · Fidelity Bk
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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