Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$2,365,000
Retail space
111 Seaboard Ave Raleigh, NC 27604-1151
Entity Owned
12-yr Hold
~
Est. High Equity
Property ID
US53-0072156
Property summary
AI-generated overview
Seaboard Station, located at 111 Seaboard Ave, Raleigh, NC 27604, offers a prime retail opportunity in Wake County. This strip center comprises 4,633 square feet, divided into three suites, perfect for multiple tenants. Currently, 3,724 square feet are available for lease, with individual suite sizes ranging from a minimum of 1,033 square feet to a maximum contiguous space of 1,541 square feet. The property is ideally suited for retail or restaurant businesses seeking high visibility and convenient access. Ample parking is available directly in front of the building, supplemented by readily available two-hour street parking. The property's location in Raleigh, North Carolina, provides excellent access to a thriving local market and strong consumer base. This is an exceptional chance to establish or expand your business in a well-situated and attractive retail space. The property type is classified as Retail and Restaurant, and the property is categorized as a Strip Center. Interested parties should inquire about lease terms and availability. The property's latitude and longitude coordinates are 35.7885693 and -78.6402358 respectively.
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1968
Construction
BRICK
Total area
10,302 SF
Lot
0.89 ac (38,768 SF)
Zoning code
DX-7
APN
1704.19-62-6175 0011486
UPID
US53-0072156
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
-
Mon Macaron Bakery Take-out & Catering
-
Cuttin Up Barber Studio Barber Shop
-
SMITH & CO. HAIR SALON LLC Hair Salon
-
Hunky Dory (Bike/Boat/Book/etc) Store
-
On The Fringe Hair Design Hair Salon
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.65M
Comparable Approach
Comparable
$2.29M
Blend (final)
Blend
$2.37M
Owner & transaction history
44 Walker LLC · 12 yrs held
44 Walker LLC
since 2014
6 recorded transactions
Zoning & alternative use
DX-7 · Raleigh, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$3.3M
+43.3%
Medical building
$3.3M
+39.4%
Auto repair, garage
$3.0M
+30.3%
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
by Request
CAP Approach
CAP Return
Estimation
6%
$2,870,000
6.5%
$2,650,000
7%
$2,460,000
Alternative Use
Use
Estimation
RETAIL STORES
$2,330,000
Current use
COMMERCIAL (GENERAL)
$3,340,000
Change: +43% · Conversion: Easy
MEDICAL BUILDING
$3,250,000
Change: +39% · Conversion: Difficult
AUTO REPAIR, GARAGE
$3,040,000
Change: +30% · Conversion: Difficult
WAREHOUSE, STORAGE
$2,335,000
Change: +0% · Conversion: Difficult
Blend value · Realmo final
$2.37M
Range $2.13M – $2.60M · ±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
$230 / 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
$44,919
Tax year 2023
Assessed value
$4,121,044
Assessed 2023
Previous assessed
$4,121,044
+0.0% YoY
Effective rate
1.09%
On assessed value
Assessed land
$2,368,725
Assessed improvement
$1,752,319
Land market value
$2,368,725
Improvement market value
$1,752,319
Total market value
$4,121,044
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
1968
Construction
BRICK
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Total area
10,302 SF
Lot
0.89 ac (38,768 SF)
Zoning code
DX-7
APN
1704.19-62-6175 0011486
UPID
US53-0072156
Jurisdiction
WAKE
Zoning & alternative use
DX-7 · Raleigh, NC
Zoning DX-7 · permitted uses
DX-7 · Raleigh, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Raleigh. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$2.3M
COMMERCIAL (GENERAL)
Est. value
$3.3M
MEDICAL BUILDING
Est. value
$3.3M
AUTO REPAIR, GARAGE
Est. value
$3.0M
WAREHOUSE, STORAGE
Est. value
$2.3M
RETAIL STORES Current
COMMERCIAL (GENERAL)
MEDICAL BUILDING
AUTO REPAIR, GARAGE
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
1968
Construction
BRICK
Heating
CENTRAL
Cooling
Yes
Stories
1
Lot
0.89 ac
Current owner
From public records · entity-resolved
44 Walker LLC
Entity
Mailing address
3001 NW RADCLIFFE WAY, PALM CITY, FL 34990-4908
Ownership since
2014
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 30, 2014
$4,592,000
44 Walker LLC
111 Seaboard Partners LLC
Grant Deed
—
Jun 30, 2014
—
44 Walker LLC
111 Seaboard Partners LLC
Grant Deed
related
$3,199,900 · Bank Of Nc
Aug 15, 2011
—
111 Seaboard Partners LLC
St Marys Associates LLC
Warranty Deed
$2,816,000 · Bank Of North Carolina
Nov 2, 2006
$2,150,000
St Marys Associates LLC
Lawrence Realty Co
Grant Deed
$1,592,000 · Rbc Centura Bank
—
—
Stmarys Associates LLC
—
Deed Of Trust
related
$250,000 · Rbc Bank (usa)
—
—
Lawrence Realty Co
—
Deed Of Trust
related
$1,225,000 · Rbc Centura Bank
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 111 Seaboard Ave?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
