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Property profile & analytics
OFF-MARKET
Estimated value
$2,200,000
Warehouses
1129 Corporation Pkwy, Raleigh, NC 27610-1381
Entity Owned
2-yr Hold
Absentee Owner
Free & Clear
Property ID
US53-2443075
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1998
Construction
CONCRETE BLOCKS
Total area
14,000 SF
Lot
2.71 ac (118,048 SF)
Zoning code
IX-3
APN
1724.16-74-5599 0204995
UPID
US53-2443075
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
-
HUBB Kitchens Take-out & Catering
-
AJ’s Cheesecakes Bakery Specialty Food Shop
-
1-800 WATER DAMAGE of Raleigh Hardware & Home Improvement Construction Company
-
RDU AFRICAN AND CARIBBEAN MARKET WHOLESALES AND RETAIL Grocery & Convenience Store Food Market
-
American Postal Workers Union Advocacy Group
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.00M
Blend (final)
Blend
$2.20M
Owner & transaction history
Big Wheel Realty LLC · 2 yrs held
Big Wheel Realty LLC
since 2024
7 recorded transactions
Zoning & alternative use
IX-3 · Raleigh, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$3,000,000
Current use
Blend value · Realmo final
$2.20M
Range $1.98M – $2.42M · ±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
$157 / 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
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1998
Construction
CONCRETE BLOCKS
Heating
SPACE
Cooling
CENTRAL
Stories
1
Total area
14,000 SF
Lot
2.71 ac (118,048 SF)
Zoning code
IX-3
APN
1724.16-74-5599 0204995
UPID
US53-2443075
Jurisdiction
WAKE
Zoning & alternative use
IX-3 · Raleigh, NC
Zoning IX-3 · permitted uses
IX-3 · 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
WAREHOUSE, STORAGE Current
Est. value
$3.0M
WAREHOUSE, STORAGE Current
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
1998
Construction
CONCRETE BLOCKS
Heating
SPACE
Cooling
Yes
Stories
1
Lot
2.71 ac
Current owner
From public records · entity-resolved
Big Wheel Realty LLC
Entity
Free & Clear · 2 yrs held
Mailing address
6415 LK WORTH RD STE #204, GREENACRES, FL 33463-2904
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 22, 2024
$550,000
Big Wheel Realty LLC
Jhj Properties LLC
Warranty Deed
—
Aug 3, 2023
$532,000
Jhj Properties LLC
Mysharona LLC
Warranty Deed
$538,000 · The Fidelity Bank
May 1, 2023
—
Mysharona LLC
Stuart Furman Schwartz
Special Warranty Deed
—
Mar 17, 2021
$160,000
Lashley 3 LLC
Meryle S Schwartz
Grant Deed
—
Mar 14, 2019
$128,000
Mortons Landing LLC
Swanson,oliver N & Phyllis W
Grant Deed
—
Aug 22, 2018
—
Stuart F Schwartz
—
Deed
related
$359,000 · Union Bk
Apr 20, 2017
—
Stuart F Schwartz
E & S Real Estate Invs 4 LLC
Quitclaim Deed
related
$180,000 · Paragon Com'l Bk
—
—
Keenan B Lawrence
—
Deed Of Trust
related
$136,500 · Blackburne & Brown Mtg Funding
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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