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Property profile & analytics
FOR LEASE
Retail space
907 Wrigley Dr Wake Forest, NC 27587
Entity Owned
4-yr Hold
Free & Clear
Property ID
US53-0035300
For Lease
1 / 4
$8,510,000
907 Wrigley Dr, Wake Forest, NC 27587
View Listing →
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2019
Construction
BRICK
Total area
28,958 SF
Lot
4.64 ac (202,118 SF)
Zoning code
HB
APN
1842.03-21-2870 0036958
UPID
US53-0035300
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
$8.70M
CAP Approach
CAP
$7.91M
Comparable Approach
Comparable
$9.48M
Blend (final)
Blend
$8.51M
Owner & transaction history
Wrennovation LLC · 4 yrs held
Wrennovation LLC
since 2022
Last sale
$7.5M
3 recorded transactions
Zoning & alternative use
HB · Wake Forest, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$10.0M
+44.6%
Commercial (general)
$9.6M
+39.2%
Medical building
$9.4M
+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
$10,165,000
ML approach
$8,695,000
CAP Approach
CAP Return
Estimation
6%
$8,565,000
6.5%
$7,905,000
7%
$7,340,000
Alternative Use
Use
Estimation
RETAIL STORES
$6,920,000
Current use
AUTO REPAIR, GARAGE
$10,000,000
Change: +45% · Conversion: Difficult
COMMERCIAL (GENERAL)
$9,635,000
Change: +39% · Conversion: Easy
MEDICAL BUILDING
$9,410,000
Change: +36% · Conversion: Difficult
OFFICE BUILDING
$6,275,000
Change: -9% · Conversion: Easy
Blend value · Realmo final
$8.51M
Range $7.66M – $9.36M · ±10% · vs last sale $7.45M (Apr 7 2022)
Last sale anchor
$7.45M
Apr 7 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
$294 / 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
$73,268
Tax year 2024
Assessed value
$7,848,790
Assessed 2024
Previous assessed
$4,781,665
+64.1% YoY
Effective rate
0.93%
On assessed value
Assessed land
$525,508
Assessed improvement
$7,323,282
Land market value
$525,508
Improvement market value
$7,323,282
Total market value
$7,848,790
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
For Lease
Year built
2019
Construction
BRICK
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Total area
28,958 SF
Lot
4.64 ac (202,118 SF)
Zoning code
HB
APN
1842.03-21-2870 0036958
UPID
US53-0035300
Jurisdiction
WAKE
Zoning & alternative use
HB · Wake Forest, NC
Zoning 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
Wake Forest. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$6.9M
AUTO REPAIR, GARAGE
Est. value
$10.0M
COMMERCIAL (GENERAL)
Est. value
$9.6M
MEDICAL BUILDING
Est. value
$9.4M
OFFICE BUILDING
Est. value
$6.3M
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
2019
Construction
BRICK
Heating
CENTRAL
Cooling
Yes
Stories
1
Lot
4.64 ac
Current owner
From public records · entity-resolved
Wrennovation LLC
Entity
Free & Clear · 4 yrs held
Mailing address
40 NE LOOP 410TH ST STE #607, SAN ANTONIO, TX 78216-5883
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 7, 2022
—
Wrennovation LLC
Wake Forest Development LLC
Intrafamily Transfer
related
—
Mar 25, 2022
$7,450,000
Wrennovation LLC
Wake Forest Development LLC
Special Warranty Deed
$5,200,000 · Pinncacle Bank
Jun 21, 2021
—
Wake Forest Investments LLC
Wake Forest Development LLC
Intrafamily Transfer
related
—
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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