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Property profile & analytics
OFF-MARKET
Estimated value
$5,900,000
Drug stores
941 Durham Rd Wake Forest, NC 27587-8794
Entity Owned
4-yr Hold
Free & Clear
Property ID
US53-0152037
Property profile
Verified
Property type
Drug stores
Use group
DRUG STORE, PHARMACY
Year built
2005
Construction
BRICK
Total area
14,478 SF
Lot
1.78 ac (77,537 SF)
Zoning code
HB
APN
1831.19-50-2889 0183463
UPID
US53-0152037
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
-
Walgreens Photo (Bike/Boat/Book/etc) Store
-
Kimberley A. Robertson, PharmD Pharmacy
-
Alma K. Arrington, RPH Pharmacy
-
Redbox Cinema (Bike/Boat/Book/etc) Store
-
FedEx OnSite Postal Service Courier Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$6.97M
CAP Approach
CAP
$3.95M
Comparable Approach
Comparable
$4.74M
Blend (final)
Blend
$5.90M
Owner & transaction history
Skye Pharma Nc LLC · 4 yrs held
Skye Pharma Nc LLC
since 2022
Last sale
$6.2M
7 recorded transactions
Zoning & alternative use
HB · Wake Forest, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$8.0M
+130.6%
Restaurant
$7.8M
+125.9%
Auto repair, garage
$5.0M
+44.6%
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
$7,155,000
ML approach
$6,965,000
CAP Approach
CAP Return
Estimation
6%
$4,280,000
6.5%
$3,950,000
7%
$3,670,000
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$7,980,000
Change: +131% · Conversion: Moderate
RESTAURANT
$7,815,000
Change: +126% · Conversion: Easy
AUTO REPAIR, GARAGE
$5,000,000
Change: +45% · Conversion: Difficult
COMMERCIAL (GENERAL)
$4,815,000
Change: +39% · Conversion: Easy
MEDICAL BUILDING
$4,705,000
Change: +36% · Conversion: Difficult
Blend value · Realmo final
$5.90M
Range $5.31M – $6.49M · ±10% · vs last sale $6.17M (Jun 29 2022)
Last sale anchor
$6.17M
Jun 29 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
$408 / 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
$54,520
Tax year 2023
Assessed value
$4,691,922
Assessed 2023
Previous assessed
$4,691,922
+0.0% YoY
Effective rate
1.16%
On assessed value
Assessed land
$930,444
Assessed improvement
$3,761,478
Land market value
$930,444
Improvement market value
$3,761,478
Total market value
$4,691,922
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
Drug stores
Use group
DRUG STORE, PHARMACY
Status
Off-Market
Year built
2005
Construction
BRICK
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Total area
14,478 SF
Lot
1.78 ac (77,537 SF)
Zoning code
HB
APN
1831.19-50-2889 0183463
UPID
US53-0152037
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
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$8.0M
RESTAURANT
Est. value
$7.8M
AUTO REPAIR, GARAGE
Est. value
$5.0M
COMMERCIAL (GENERAL)
Est. value
$4.8M
MEDICAL BUILDING
Est. value
$4.7M
NEIGHBORHOOD: SHOPPING CENTER
RESTAURANT
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
MEDICAL 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
2005
Construction
BRICK
Heating
CENTRAL
Cooling
Yes
Stories
1
Lot
1.78 ac
Current owner
From public records · entity-resolved
Skye Pharma Nc LLC
Entity
Free & Clear · 4 yrs held
Mailing address
4030 WAKE FRST RD #349, RALEIGH, NC 27609-0010
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
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 29, 2022
—
Skye Pharma Nc LLC
The Summers Living Trust
Assignment Of Lease (leasehold Sale)
—
Jun 29, 2022
$6,171,500
Skye Pharma Nc LLC
Donald S Summers
Special Warranty Deed
$3,800,000 · Trustone Financial Cu
Jan 12, 2017
$5,400,000
Summers Living Trust
Yorktown 1031 LLC
Grant Deed
$4,320,000 · Mb Fin'l Bk
Mar 6, 2007
$5,102,500
Yorktown 1031 LLC
Md-98 & Retail Drive LLC
Grant Deed
—
Jan 14, 2005
—
Md-98 & Retail Drive LLC
Hnrd Holdings LLC
Grant Deed
related
—
Aug 5, 2004
$1,450,000
Hnrd Holdings LLC
Marric LLC
Grant Deed
related
—
Jul 20, 2004
$1,400,000
Hnrd Holdings LLC
Marric LLC
Grant Deed
related
$2,925,000 · Bank Of America
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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