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Property profile & analytics
OFF-MARKET
Estimated value
$3,760,000
Retail space
1017 Whitaker Ml Rd Raleigh, NC 27608-2757
Entity Owned
5-yr Hold
Free & Clear
Property ID
US53-1463988
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1955
Construction
BRICK
Total area
9,300 SF
Lot
0.65 ac (28,314 SF)
Zoning code
PD
APN
1714.05-19-7266 0031418
UPID
US53-1463988
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
-
Studio Revolution Gym & Fitness Center
-
Smart Athlete Physiotherapy Physician
-
Cold Off the Press Specialty Food Shop (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$5.12M
CAP Approach
CAP
$2.39M
Comparable Approach
Comparable
$4.08M
Blend (final)
Blend
$3.76M
Owner & transaction history
Progress Ct Phase I Owner LLC · 5 yrs held
Progress Ct Phase I Owner LLC
since 2021
Last sale
$3.5M
2 recorded transactions
Zoning & alternative use
PD · Raleigh, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The site immediately abuts a district boundary of a Planned Development (PD-) district where the abutting property is vacant or contains a detached house, tiny house, or attached house and any of the following apply: Has a residential reference district; or Does not permit general and mixed-use buildings; or Does not permit commercial and industrial uses. Zo…
Zone name
Planned Development
General category
PLANNED_DEVELOPMENT
Zone area
5,040.47 ac
Top alternative use upside
Neighborhood: shopping center
$5.1M
+40.2%
Restaurant
$5.1M
+38.4%
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 Raleigh submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Raleigh 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
$5,120,000
CAP Approach
CAP Return
Estimation
6%
$2,590,000
6.5%
$2,390,000
7%
$2,220,000
Alternative Use
Use
Estimation
RETAIL STORES
$3,655,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$5,125,000
Change: +40% · Conversion: Moderate
RESTAURANT
$5,055,000
Change: +38% · Conversion: Easy
COMMERCIAL (GENERAL)
$3,015,000
Change: -17% · Conversion: Easy
MEDICAL BUILDING
$2,935,000
Change: -20% · Conversion: Difficult
Blend value · Realmo final
$3.76M
Range $3.38M – $4.14M · ±10% · vs last sale $3.50M (Feb 9 2021)
Last sale anchor
$3.50M
Feb 9 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
$404 / 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
$21,904
Tax year 2023
Assessed value
$2,009,583
Assessed 2023
Previous assessed
$2,009,583
+0.0% YoY
Effective rate
1.09%
On assessed value
Assessed land
$425,559
Assessed improvement
$1,584,024
Land market value
$425,559
Improvement market value
$1,584,024
Total market value
$2,009,583
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1955
Construction
BRICK
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Units
6
Total area
9,300 SF
Lot
0.65 ac (28,314 SF)
Zoning code
PD
APN
1714.05-19-7266 0031418
UPID
US53-1463988
Jurisdiction
WAKE
Zoning & alternative use
PD · Raleigh, NCZoning PD · permitted uses
PD · Raleigh, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The site immediately abuts a district boundary of a Planned Development (PD-) district where the abutting property is vacant or contains a detached house, tiny house, or attached house and any of the following apply: Has a residential reference district; or Does not permit general and mixed-use buildings; or Does not permit commercial and industrial uses. Zone B does not apply to sites 50 feet or less in depth. In such cases, Zone C starts immediately adjacent to the Zone A protective yard. Neighborhood transitions do not apply to single-unit living, two-unit living or cottage court uses within detached house, tiny house attached house or townhouse building types where the proposed or existing building height is 50 feet or less. Zones B and C do not apply to detached house, tiny house attached house, townhouse or apartment building types in a mixed-use district where the proposed or existing building height is 50 feet or less, provided the proposed use is also permitted in RX- and adheres to any applicable RX- and underlying zoning district use standards. Zones B and C do not apply to detached house, tiny house, attached house, townhouse or apartment building types in the TOD, including for Residential districts where RX- standards are used (See
Zone name
Planned Development
General category
PLANNED_DEVELOPMENT
Zone area
5,040.47 ac
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$3.7M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$5.1M
RESTAURANT
Est. value
$5.1M
COMMERCIAL (GENERAL)
Est. value
$3.0M
MEDICAL BUILDING
Est. value
$2.9M
RETAIL STORES Current
NEIGHBORHOOD: SHOPPING CENTER
RESTAURANT
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
1955
Construction
BRICK
Heating
CENTRAL
Cooling
Yes
Stories
1
Units
6
Lot
0.65 ac
Current owner
From public records · entity-resolved
Progress Ct Phase I Owner LLC
Entity
Free & Clear · 5 yrs held
Mailing address
2020 PROGRESS CT STE 130B, RALEIGH, NC 27608-2768
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 30, 2025
—
Progress Ct Phase I Owner LLC
—
Deed
related
$26,643,848 · Atlantic Union Bank
Feb 9, 2021
$3,500,000
Progress Ct Phase I Owner LLC
Jt Hobby & Son INC
Grant Deed
—
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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