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Property profile & analytics
OFF-MARKET
Estimated value
$1,995,000
Garden apartment buildings
Frontgate Dr, NC
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US53-1737935
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1991
Construction
FRAME
Total area
15,780 SF
Lot
1.36 ac (59,242 SF)
Zoning code
OR
APN
50006
UPID
US53-1737935
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
$1.90M
CAP Approach
CAP
$1.51M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.00M
Owner & transaction history
Cig 242 Bw LLC · 3 yrs held
Cig 242 Bw LLC
since 2022
Last sale
$2.4M
7 recorded transactions
Zoning & alternative use
OR · Frontgate Dr, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.8M
+0.8%
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 Frontgate Dr submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Frontgate 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
$1,765,000
ML approach
$1,900,000
CAP Approach
CAP Return
Estimation
6%
$1,635,000
6.5%
$1,510,000
7%
$1,400,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$2,740,000
Current use
RESTAURANT
$2,760,000
Change: +1% · Conversion: Difficult
Blend value · Realmo final
$2.00M
Range $1.80M – $2.19M · ±10% · vs last sale $2.40M (Sep 23 2022)
Last sale anchor
$2.40M
Sep 23 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
$126 / 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
$9,077
Tax year 2023
Assessed value
$503,500
Assessed 2023
Previous assessed
$503,500
+0.0% YoY
Effective rate
1.80%
On assessed value
Assessed land
$84,000
Assessed improvement
$419,500
Land market value
$84,000
Improvement market value
$419,500
Total market value
$503,500
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
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Status
Off-Market
Year built
1991
Construction
FRAME
Heating
BASEBOARD
Cooling
CENTRAL
Stories
2
Units
24
Rooms
31
Bathrooms
12
Total area
15,780 SF
Lot
1.36 ac (59,242 SF)
Zoning code
OR
APN
50006
UPID
US53-1737935
Jurisdiction
PITT
Zoning & alternative use
OR · Frontgate Dr, NC
Zoning OR · permitted uses
OR · Frontgate Dr, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Frontgate Dr. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$2.7M
RESTAURANT
Est. value
$2.8M
APARTMENT HOUSE (5+ UNITS) Current
RESTAURANT
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
1991
Construction
FRAME
Heating
BASEBOARD
Cooling
Yes
Stories
2
Units
24
Rooms
31
Bathrooms
12
Lot
1.36 ac
Current owner
From public records · entity-resolved
Cig 242 Bw LLC
Entity
Mailing address
870 GREENBRIER CIR STE #601, CHESAPEAKE, VA 23320-3337
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
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 23, 2022
$24,000,000
Cig 242 Bw LLC
Blvdw Nc LLC
Special Warranty Deed
$21,277,501 · Key Bank NA
Jul 28, 2020
$12,815,000
Blvdw Nc LLC
Frontgate Partners LLC
Grant Deed
$8,350,000 · Miscellaneous Ins Co
Oct 17, 2017
—
Frontgate Partners LLC
—
Loan Modification
related
$6,050,000 · Xenith Bk
Sep 25, 2017
$3,061,000
Frontgate Partners LLC
Black Sand Equities LLC
Special Warranty Deed
—
Nov 3, 2016
—
Black Sand Equities LLC
Tidewater Villas LLC
Correction Deed
related
—
Jul 28, 2016
—
Black Sand Equities LLC
Tidewater Villas LLC
Quit Claim Deed
related
—
Jul 28, 2016
$2,350,000
Black Sand Equities LLC
Tidewater Villas LLC
Grant Deed
—
Jul 7, 2016
$1,500,000
Tidewater Villas LLC
Interurban Three Venture LLP
Correction Deed
—
May 1, 2015
$1,500,000
Tidewater Villas LLC
Interurban Three Venture LLP
Trustees Deed
$1,033,333 · Ozzy Interests LLC
Jan 9, 2014
$1,500,000
Interurban Three Venture LLP A
Whiteco Services LLC|woodlands Apartments LLC
Trustees Deed
related
—
Jun 1, 2006
—
Woodlands Apts LLC
Owner Name Unavailable
Grant Deed
related
—
Mar 1, 2005
—
Speight,maxine A
Speight,maxine A
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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