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Property profile & analytics
OFF-MARKET
Estimated value
$415,000
Office buildings
Cromwell Dr, NC
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US53-1206636
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1999
Total area
5,660 SF
Lot
0.77 ac (33,541 SF)
Zoning code
OR
APN
75959
UPID
US53-1206636
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
$395k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$415k
Owner & transaction history
Perrys 1 LLC · 4 yrs held
Perrys 1 LLC
since 2021
Last sale
$641,111
2 recorded transactions
Zoning & alternative use
OR · Cromwell Dr, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$990,000
+98.4%
Apartment house (5+ units)
$985,000
+97.0%
Medical building
$700,000
+40.0%
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 Cromwell Dr submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Cromwell Dr 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
$415,000
ML approach
$395,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$500,000
Current use
RESTAURANT
$990,000
Change: +98% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$985,000
Change: +97% · Conversion: Easy
MEDICAL BUILDING
$700,000
Change: +40% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$530,000
Change: +6% · Conversion: Difficult
COMMERCIAL (GENERAL)
$495,000
Change: -1% · Conversion: Easy
Blend value · Realmo final
$415k
Range $374k – $457k · ±10% · vs last sale $641k (Dec 2 2021)
Last sale anchor
$641k
Dec 2 2021
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
$73 / 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
$7,342
Tax year 2023
Assessed value
$625,566
Assessed 2023
Previous assessed
$625,566
+0.0% YoY
Effective rate
1.17%
On assessed value
Assessed land
$133,460
Assessed improvement
$492,106
Land market value
$133,460
Improvement market value
$492,106
Total market value
$625,566
Applied tax rate
70.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1999
Heating
HEAT PUMP
Cooling
CENTRAL
Stories
1
Rooms
30
Bathrooms
6
Total area
5,660 SF
Lot
0.77 ac (33,541 SF)
Zoning code
OR
APN
75959
UPID
US53-1206636
Jurisdiction
PITT
Zoning & alternative use
OR · Cromwell Dr, NCZoning OR · permitted uses
OR · Cromwell Dr, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$500,000
RESTAURANT
Est. value
$990,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$985,000
MEDICAL BUILDING
Est. value
$700,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$530,000
COMMERCIAL (GENERAL)
Est. value
$495,000
OFFICE BUILDING Current
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
COMMERCIAL (GENERAL)
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
1999
Heating
HEAT PUMP
Cooling
Yes
Stories
1
Rooms
30
Bathrooms
6
Lot
0.77 ac
Current owner
From public records · entity-resolved
Perrys 1 LLC
Entity
Mailing address
PO BOX 1475, KINSTON, NC 28503-1475
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 2, 2021
$5,770,000
Perrys 1 LLC
Gaylord Properties A LLC
Special Warranty Deed
$4,357,500 · First Citizens Bank & Trust Co
Feb 1, 2006
—
Gaylord,mont D
Gaylord,mont D
Quit Claim Deed
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.
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