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Property profile & analytics
OFF-MARKET
Estimated value
$1,950,000
Medical Office Space
1407 Hillsborough St, Raleigh, NC 27605-1828
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US53-0402492
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1912
Construction
FRAME
Total area
4,167 SF
Lot
0.37 ac (16,117 SF)
Zoning code
OX-3
APN
1704.17-10-5361 0005925
UPID
US53-0402492
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
-
Roberson & Associates Family & Cosmetic Dentistry Dental Office
-
Grayson Nichols, LCSW, CPCC Counselor Psychotherapist
-
Dr. Christine Dittmer Physician Medical Clinic
-
Elizabeth A. Tatum LCMHC Psychotherapist
-
Eating Disorders Counseling Physician Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.23M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.66M
Blend (final)
Blend
$1.95M
Owner & transaction history
1407 Hillsborough LLC · 4 yrs held
1407 Hillsborough LLC
since 2022
Last sale
$1.9M
7 recorded transactions
Zoning & alternative use
OX-3 · Raleigh, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$2.3M
+74.7%
Retail stores
$1.6M
+24.6%
Commercial (general)
$1.4M
+2.9%
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
$2,115,000
ML approach
$2,230,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$1,315,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$2,295,000
Change: +75% · Conversion: Difficult
RETAIL STORES
$1,635,000
Change: +25% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,350,000
Change: +3% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,230,000
Change: -7% · Conversion: Difficult
Blend value · Realmo final
$1.95M
Range $1.76M – $2.15M · ±10% · vs last sale $1.87M (Feb 18 2022)
Last sale anchor
$1.87M
Feb 18 2022
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
$468 / 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
$18,536
Tax year 2023
Assessed value
$1,494,812
Assessed 2023
Previous assessed
$1,494,812
+0.0% YoY
Effective rate
1.24%
On assessed value
Assessed land
$967,504
Assessed improvement
$527,308
Land market value
$967,504
Improvement market value
$527,308
Total market value
$1,494,812
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
1912
Construction
FRAME
Heating
CENTRAL
Cooling
CENTRAL
Stories
2
Rooms
9
Bathrooms
3
Total area
4,167 SF
Lot
0.37 ac (16,117 SF)
Zoning code
OX-3
APN
1704.17-10-5361 0005925
UPID
US53-0402492
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
MEDICAL BUILDING Current
Est. value
$1.3M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.3M
RETAIL STORES
Est. value
$1.6M
COMMERCIAL (GENERAL)
Est. value
$1.4M
AUTO REPAIR, GARAGE
Est. value
$1.2M
MEDICAL BUILDING Current
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
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
1912
Construction
FRAME
Heating
CENTRAL
Cooling
Yes
Stories
2
Rooms
9
Bathrooms
3
Lot
0.37 ac
Current owner
From public records · entity-resolved
1407 Hillsborough LLC
Entity
Mailing address
1407 HILLSBOROUGH ST, RALEIGH, NC 27605-1828
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 18, 2022
$1,870,000
1407 Hillsborough LLC
Cranley Gardens LLC
Special Warranty Deed
$1,496,000 · First Citizens Bank & Trust Co
May 31, 2019
$1,535,000
Cranley Gardens LLC
Cameron Dental Properties LLC
Grant Deed
—
Mar 15, 2017
—
Cameron Dental Properties LLC
—
Deed
related
$150,000 · Celtic Bk
May 18, 2009
$560,000
Cameron Dental Properties LLC
Steelhead Dev LLC
Warranty Deed
$1,101,222 · Capital Bank NA
Jan 18, 2007
—
Steelhead Dev LLC
County Of Wake
Warranty Deed
$463,406 · Paragon Commercial Bank
—
—
Cameron Dental Properties LLC
—
Deed Of Trust
related
$150,000 · Celtic Bk
—
—
Cameron Dental Properties LLC
—
Deed Of Trust
related
$1,648,000 · Bank Of Nc
—
—
Cameron Dental Properties LLC
—
Deed Of Trust
related
$330,000 · Capital Bank NA
—
—
Cameron Dental Properties LLC
—
Deed Of Trust
related
$459,000 · Region E Dev Corp
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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