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Property profile & analytics
OFF-MARKET
Estimated value
$2,165,000
Retail space
906 Gtwy Cmns Cir Wake Forest, NC 27587-5992
Entity Owned
12-yr Hold
~
Est. High Equity
Property ID
US53-3942788
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2014
Construction
CONCRETE BLOCKS
Total area
10,000 SF
Lot
1.36 ac (59,242 SF)
Zoning code
HB
APN
1840.12-96-0785 0417746
UPID
US53-3942788
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.73M
Comparable Approach
Comparable
$2.15M
Blend (final)
Blend
$2.17M
Owner & transaction history
Gateway Forest LLC · 12 yrs held
Gateway Forest LLC
since 2013
1 recorded transaction
Zoning & alternative use
HB · Wake Forest, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The Highway Business District is generally located on the major thoroughfares in town and provides opportunities for the provision of offices, services, and retail goods. The regulations for this district are intended to accommodate the predominately auto-oriented pattern of existing development while encouraging the creation of new pedestrian-friendly, mixe…
Zone name
Highway Business
General category
MIXED_USE
Zone area
843.70 ac
Source
Realmo
Top alternative use upside
Auto repair, garage
$3.5M
+44.6%
Commercial (general)
$3.3M
+39.2%
Medical building
$3.3M
+36.0%
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%
$2,955,000
6.5%
$2,730,000
7%
$2,535,000
Alternative Use
Use
Estimation
RETAIL STORES
$2,390,000
Current use
AUTO REPAIR, GARAGE
$3,455,000
Change: +45% · Conversion: Difficult
COMMERCIAL (GENERAL)
$3,325,000
Change: +39% · Conversion: Easy
MEDICAL BUILDING
$3,250,000
Change: +36% · Conversion: Difficult
OFFICE BUILDING
$2,165,000
Change: -9% · Conversion: Easy
Blend value · Realmo final
$2.17M
Range $1.95M – $2.38M · ±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
$217 / 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
$16,299
Tax year 2023
Assessed value
$1,402,684
Assessed 2023
Previous assessed
$1,402,684
+0.0% YoY
Effective rate
1.16%
On assessed value
Assessed land
$533,178
Assessed improvement
$869,506
Land market value
$533,178
Improvement market value
$869,506
Total market value
$1,402,684
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
2014
Construction
CONCRETE BLOCKS
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Total area
10,000 SF
Lot
1.36 ac (59,242 SF)
Zoning code
HB
APN
1840.12-96-0785 0417746
UPID
US53-3942788
Jurisdiction
WAKE
Zoning & alternative use
HB · Wake Forest, NCZoning HB · permitted uses
HB · Wake Forest, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The Highway Business District is generally located on the major thoroughfares in town and provides opportunities for the provision of offices, services, and retail goods. The regulations for this district are intended to accommodate the predominately auto-oriented pattern of existing development while encouraging the creation of new pedestrian-friendly, mixed-use areas that avoid strip commercial development and establish more resilient land development patterns
Zone name
Highway Business
General category
MIXED_USE
Zone area
843.70 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$2.4M
AUTO REPAIR, GARAGE
Est. value
$3.5M
COMMERCIAL (GENERAL)
Est. value
$3.3M
MEDICAL BUILDING
Est. value
$3.3M
OFFICE BUILDING
Est. value
$2.2M
RETAIL STORES Current
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
MEDICAL BUILDING
OFFICE 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
2014
Construction
CONCRETE BLOCKS
Heating
CENTRAL
Cooling
Yes
Stories
1
Lot
1.36 ac
Current owner
From public records · entity-resolved
Gateway Forest LLC
Entity
Mailing address
PO BOX 31827, RALEIGH, NC 27622-1827
Ownership since
2013
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 30, 2013
—
Gateway Forest LLC
—
Trustees Deed
related
$1,125,000 · Capstone 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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