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Property profile & analytics
OFF-MARKET
Estimated value
$925,000
Garden apartment buildings
Frst Hl Rd, Lexington, NC 27295
Entity Owned
13-yr Hold
~
Est. High Equity
Property ID
US53-3612756
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
2013
Construction
FRAME
Total area
10,396 SF
Lot
11.7 ac (509,652 SF)
Zoning code
B
APN
11-335-0-000-0006-B
UPID
US53-3612756
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$925k
Blend (final)
Blend
$925k
Owner & transaction history
Forst Hill Road LLC · 13 yrs held
Forst Hill Road LLC
since 2013
5 recorded transactions
Zoning & alternative use
B · Lexington, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$825,000
+33.2%
Auto repair, garage
$695,000
+12.6%
Commercial (general)
$620,000
+0.2%
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 Lexington submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lexington 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$620,000
Current use
OFFICE BUILDING
$825,000
Change: +33% · Conversion: Moderate
AUTO REPAIR, GARAGE
$695,000
Change: +13% · Conversion: Difficult
COMMERCIAL (GENERAL)
$620,000
Change: +0% · Conversion: Moderate
WAREHOUSE, STORAGE
$590,000
Change: -4% · Conversion: Difficult
Blend value · Realmo final
$925k
Range $833k – $1.02M · ±10%
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
$89 / 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
$48,145
Tax year 2023
Assessed value
$3,675,220
Assessed 2023
Previous assessed
$3,675,220
+0.0% YoY
Effective rate
1.31%
On assessed value
Land market value
$438,750
Improvement market value
$3,236,470
Total market value
$3,675,220
Applied tax rate
11.0000
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
2013
Construction
FRAME
Heating
HEAT PUMP
Cooling
CENTRAL
Buildings
8
Stories
2
Units
8
Bathrooms
2
Total area
10,396 SF
Lot
11.7 ac (509,652 SF)
Zoning code
B
APN
11-335-0-000-0006-B
UPID
US53-3612756
Jurisdiction
DAVIDSON
Zoning & alternative use
B · Lexington, NC
Zoning B · permitted uses
B · Lexington, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lexington. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$620,000
OFFICE BUILDING
Est. value
$825,000
AUTO REPAIR, GARAGE
Est. value
$695,000
COMMERCIAL (GENERAL)
Est. value
$620,000
WAREHOUSE, STORAGE
Est. value
$590,000
APARTMENT HOUSE (5+ UNITS) Current
OFFICE BUILDING
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
WAREHOUSE, STORAGE
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
2013
Construction
FRAME
Heating
HEAT PUMP
Cooling
Yes
Stories
2
Buildings
8
Units
8
Bathrooms
2
Lot
11.7 ac
Current owner
From public records · entity-resolved
Forst Hill Road LLC
Entity
Mailing address
PO BOX 6171, RALEIGH, NC 27628-6171
Ownership since
2013
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 14, 2013
$346,000
Forst Hill Road LLC
James R Shoaf
Warranty Deed
$5,400,479 · Branch Banking And Trust Co
Aug 5, 2009
—
James R Shoaf
Shoaf James & S Trust
Quit Claim Deed
related
—
Dec 18, 2008
—
Shoaf James R Trust
Shoaf,james R & Sandra W
Quit Claim Deed
related
—
Jan 29, 2007
—
Shoaf James & Sandra Trust
Shoaf,james R & Sandra W
Quit Claim Deed
related
—
May 24, 2004
$112,000
James R Shoaf
Shoaf,sammy J
Warranty 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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