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Property profile & analytics
OFF-MARKET
Estimated value
$1,530,000
Parking lots & garages
117 Friendly Dr Raleigh, NC 27607
Individually Owned
13-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US53-2426629
Property profile
Verified
Property type
Parking lots & garages
Use group
PARKING GARAGE, PARKING STRUCTURE
Year built
1988
Total area
100,040 SF
Lot
0.74 ac (32,234 SF)
Zoning code
OX-12
APN
0794.19-62-0064 0407828
UPID
US53-2426629
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
$1.17M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.53M
Owner & transaction history
University Twrs Operating Ptsh · 13 yrs held
University Twrs Operating Ptsh
since 2013
Last sale
$1.7M
2 recorded transactions
Zoning & alternative use
OX-12 · Raleigh, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The OX-12 is intended to provide for a variety of office and employment uses whileallowing for housing and limited retail and service related options
Zone name
Office Mixed Use
General category
MIXED_USE
Zone area
454.30 ac
Source
Realmo
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
$1,170,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.53M
Range $1.38M – $1.68M · ±10% · vs last sale $1.71M (Feb 6 2024)
Last sale anchor
$1.71M
Feb 6 2024
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
$15 / 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
$110,232
Tax year 2023
Assessed value
$8,889,650
Assessed 2023
Previous assessed
$8,889,650
+0.0% YoY
Effective rate
1.24%
On assessed value
Assessed land
$2,030,742
Assessed improvement
$6,858,908
Land market value
$2,030,742
Improvement market value
$6,858,908
Total market value
$8,889,650
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
Parking lots & garages
Use group
PARKING GARAGE, PARKING STRUCTURE
Status
Off-Market
Year built
1988
Heating
NONE
Cooling
NONE
Stories
4
Total area
100,040 SF
Lot
0.74 ac (32,234 SF)
Zoning code
OX-12
APN
0794.19-62-0064 0407828
UPID
US53-2426629
Jurisdiction
WAKE
Zoning & alternative use
OX-12 · Raleigh, NCZoning OX-12 · permitted uses
OX-12 · Raleigh, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The OX-12 is intended to provide for a variety of office and employment uses whileallowing for housing and limited retail and service related options
Zone name
Office Mixed Use
General category
MIXED_USE
Zone area
454.30 ac
Source
Realmo
Building & site characteristics
From public records
Year built
1988
Heating
NONE
Cooling
Yes
Stories
4
Lot
0.74 ac
Current owner
From public records · entity-resolved
University Twrs Operating Ptsh
Individual
Mailing address
999 SHADY GRV RD S STE #600, MEMPHIS, TN 38120-4130
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 2, 2013
—
University Twrs Operating Ptsh
University Towers Raleigh LLC
Quit Claim Deed
related
$34,000,000 · Fifth Third Bank
Jan 4, 2013
$7,500,000
University Towers Raleigh LLC
University Twrs Parking Deck L
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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