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Property profile & analytics
OFF-MARKET
Estimated value
$5,000,000
Medical Office Space
1205 Martin Luther King Jr Blvd, Raleigh, NC 27610-3942
Individually Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US53-5078865
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2023
Construction
FRAME
Total area
6,670 SF
Lot
1.28 ac (55,757 SF)
Zoning code
OX-3
APN
1713.14-24-9804 0461288
UPID
US53-5078865
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
$5.00M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$5.00M
Owner & transaction history
Chi Hong Chiang · 1 yrs held
Chi Hong Chiang
since 2024
Last sale
$5.0M
1 recorded transaction
Zoning & alternative use
OX-3 · Raleigh, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$3.7M
+74.7%
Restaurant
$3.6M
+72.4%
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
$5,000,000
ML approach
$5,000,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$3,675,000
Change: +75% · Conversion: Difficult
RESTAURANT
$3,625,000
Change: +72% · Conversion: Difficult
Blend value · Realmo final
$5.00M
Range $4.50M – $5.50M · ±10% · vs last sale $5.00M (Sep 6 2024)
Last sale anchor
$5.00M
Sep 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
$750 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$19,622
Tax year 2024
Assessed value
$2,259,343
Assessed 2024
Previous assessed
$2,259,343
+0.0% YoY
Effective rate
0.87%
On assessed value
Assessed land
$889,882
Assessed improvement
$1,369,461
Land market value
$889,882
Improvement market value
$1,369,461
Total market value
$2,259,343
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
2023
Construction
FRAME
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Total area
6,670 SF
Lot
1.28 ac (55,757 SF)
Zoning code
OX-3
APN
1713.14-24-9804 0461288
UPID
US53-5078865
Jurisdiction
WAKE
Zoning & alternative use
OX-3 · Raleigh, NC
Zoning OX-3 · permitted uses
OX-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
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$3.7M
RESTAURANT
Est. value
$3.6M
NEIGHBORHOOD: SHOPPING CENTER
RESTAURANT
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
2023
Construction
FRAME
Heating
CENTRAL
Cooling
Yes
Stories
1
Lot
1.28 ac
Current owner
From public records · entity-resolved
Chi Hong Chiang
Individual
Mailing address
517 DOROTHEA RD STE #306, LA HABRA HEIGHTS, CA 90631-8302
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 6, 2024
$5,000,000
Chi Hong Chiang
Nc Nephrology Holdings LLC Rock Qua
Special Warranty Deed
$3,250,000 · Ut Federal Credit Union
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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