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Property profile & analytics
OFF-MARKET
Estimated value
$16,670,000
Garden apartment buildings
917 7th Ave Garner, NC 27529-3639
Entity Owned
2-yr Hold
Absentee Owner
Free & Clear
Property ID
US53-0833270
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1982
Construction
FRAME
Total area
9,740 SF
Lot
10.67 ac (464,785 SF)
Zoning code
MF-A
APN
1711.17-11-6838 0119099
UPID
US53-0833270
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
-
Flats on 7th Apartment Building Apartment Complex
-
Baker & Carter Trucking LLC Trucking Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$12.63M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$16.67M
Owner & transaction history
Spectrum Southeast LLC · 2 yrs held
Spectrum Southeast LLC
since 2023
Last sale
$15.8M
6 recorded transactions
Zoning & alternative use
MF-A · Garner, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The MF-A district is intended to primarily accommodate neighborhood scale multifamily dwellings, including duplexes, lower unit count townhomes, and other housing scale multifamily products. Multifamily dwellings in this district are low impact and can fit into existing single family neighborhoods without excessive disruption of the character of the neighbor…
Zone name
Multifamily A
General category
RESIDENTIAL
Zone area
749.68 ac
Source
Realmo
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 Garner submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Garner 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
$22,465,000
ML approach
$12,625,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$16.67M
Range $15.00M – $18.34M · ±10% · vs last sale $15.80M (Oct 15 2020)
Last sale anchor
$15.80M
Oct 15 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
$1,711 / 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
$202,151
Tax year 2023
Assessed value
$15,531,981
Assessed 2023
Previous assessed
$15,531,981
+0.0% YoY
Effective rate
1.30%
On assessed value
Assessed land
$3,332,000
Assessed improvement
$12,199,981
Land market value
$3,332,000
Improvement market value
$12,199,981
Total market value
$15,531,981
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
1982
Construction
FRAME
Heating
CENTRAL
Cooling
CENTRAL
Buildings
14
Stories
2
Units
10
Rooms
484
Total area
9,740 SF
Lot
10.67 ac (464,785 SF)
Zoning code
MF-A
APN
1711.17-11-6838 0119099
UPID
US53-0833270
Jurisdiction
WAKE
Zoning & alternative use
MF-A · Garner, NCZoning MF-A · permitted uses
MF-A · Garner, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The MF-A district is intended to primarily accommodate neighborhood scale multifamily dwellings, including duplexes, lower unit count townhomes, and other housing scale multifamily products. Multifamily dwellings in this district are low impact and can fit into existing single family neighborhoods without excessive disruption of the character of the neighborhood.
Zone name
Multifamily A
General category
RESIDENTIAL
Zone area
749.68 ac
Source
Realmo
Building & site characteristics
From public records
Year built
1982
Construction
FRAME
Heating
CENTRAL
Cooling
Yes
Stories
2
Buildings
14
Units
10
Rooms
484
Lot
10.67 ac
Current owner
From public records · entity-resolved
Spectrum Southeast LLC
Entity
Free & Clear · 2 yrs held
Mailing address
6525 CARNEGIE BLVD STE 400TH CHARLOTTE
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
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
Aug 11, 2023
—
Spectrum Southeast LLC
Fista Gerner Associates LLC
Agreement Of Sale
—
Oct 15, 2020
—
Flats Garner Associates LLC
Ecp Garner Apartments LLC
Grant Deed
—
Oct 15, 2020
$800,000
Flats Garner Associates LLC
Ecp Garner Apartments LLC
Special Warranty Deed
—
Nov 20, 2018
—
Ecp Garner Apartments LLC
—
Deed
related
$11,600,000 · Walker & Dunlop
Feb 21, 2017
$7,650,000
Ecp Garner Apartments LLC
Sfiii 917 7th Avenue LLC
Trustees Deed
$8,500,000 · Other Institutional Lenders
—
—
Ecp Garner Apartments LLC
—
Deed Of Trust
related
$11,600,000 · Walker & Dunlop
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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