Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$1,270,000
Retail space
1604 Market Dr Raleigh, NC 27609-2528
Individually Owned
20-yr Hold
~
Est. High Equity
Property ID
US53-0072370
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1987
Construction
BRICK
Total area
7,200 SF
Lot
2.06 ac (89,734 SF)
Zoning code
CX-3
APN
1716.19-51-5165 0127844
UPID
US53-0072370
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
-
La Cocina De Mama Greta Restaurant
-
W&B SWEEPSTAKES - INTERNET CAFE Cafe & Coffee Shop
-
The Kool Spot NC High School Vocational School
-
nolimit tobacco (Bike/Boat/Book/etc) Store
-
Jp jewelry (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$790k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.16M
Blend (final)
Blend
$1.27M
Owner & transaction history
Tri Doan · 20 yrs held
Tri Doan
since 2006
3 recorded transactions
Zoning & alternative use
CX-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
$790,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.27M
Range $1.14M – $1.40M · ±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
$176 / 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
$22,199
Tax year 2023
Assessed value
$2,036,574
Assessed 2023
Previous assessed
$2,036,574
+0.0% YoY
Effective rate
1.09%
On assessed value
Assessed land
$718,769
Assessed improvement
$1,317,805
Land market value
$718,769
Improvement market value
$1,317,805
Total market value
$2,036,574
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
1987
Construction
BRICK
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Total area
7,200 SF
Lot
2.06 ac (89,734 SF)
Zoning code
CX-3
APN
1716.19-51-5165 0127844
UPID
US53-0072370
Jurisdiction
WAKE
Zoning & alternative use
CX-3 · Raleigh, NC
Zoning CX-3 · permitted uses
CX-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.
Building & site characteristics
From public records
Year built
1987
Construction
BRICK
Heating
CENTRAL
Cooling
Yes
Stories
1
Lot
2.06 ac
Current owner
From public records · entity-resolved
Tri Doan
Individual
Mailing address
3809 MITCHELL ML RD, RALEIGH, NC 27616-8566
Ownership since
2006
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 1, 2006
$1,570,000
Tri Doan
Craftsman Associates LLC
Warranty Deed
$750,000 · Fidelity Bank NA
Apr 19, 2002
—
Tillman Development LLC
Tillman,developm
Quit Claim Deed
related
—
Aug 3, 2001
—
Tillman Development LLC
Tillman,developm
Quit Claim 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.
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 1604 Market Dr?
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.
