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Property profile & analytics
OFF-MARKET
Estimated value
$810,000
Grocery and convenience stores
1617 New Bern Ave Raleigh, NC 27610-2537
Entity Owned
3-yr Hold
Free & Clear
Property ID
US53-2136388
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
1954
Construction
BRICK
Total area
1,598 SF
Lot
0.18 ac (7,841 SF)
Zoning code
NX-3
APN
1713.06-49-4153 0012634
UPID
US53-2136388
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
-
Zacks Grocery Mart Grocery & Convenience Store Food Market
-
Triangle Gas Station
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$810k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$810k
Owner & transaction history
City Of Raleigh · 3 yrs held
City Of Raleigh
since 2023
Last sale
$818,300
3 recorded transactions
Zoning & alternative use
NX-3 · Raleigh, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$880,000
+90.6%
Commercial (general)
$520,000
+12.2%
Medical building
$505,000
+9.1%
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
$790,000
ML approach
$810,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$880,000
Change: +91% · Conversion: Moderate
COMMERCIAL (GENERAL)
$520,000
Change: +12% · Conversion: Easy
MEDICAL BUILDING
$505,000
Change: +9% · Conversion: Difficult
Blend value · Realmo final
$810k
Range $729k – $891k · ±10% · vs last sale $818k (Jul 7 2023)
Last sale anchor
$818k
Jul 7 2023
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
$507 / 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
$2,077
Tax year 2023
Assessed value
$193,250
Assessed 2023
Previous assessed
$193,250
+0.0% YoY
Effective rate
1.07%
On assessed value
Assessed land
$93,857
Assessed improvement
$99,393
Land market value
$93,857
Improvement market value
$99,393
Total market value
$193,250
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
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
Off-Market
Year built
1954
Construction
BRICK
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Total area
1,598 SF
Lot
0.18 ac (7,841 SF)
Zoning code
NX-3
APN
1713.06-49-4153 0012634
UPID
US53-2136388
Jurisdiction
WAKE
Zoning & alternative use
NX-3 · Raleigh, NC
Zoning NX-3 · permitted uses
NX-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
$880,000
COMMERCIAL (GENERAL)
Est. value
$520,000
MEDICAL BUILDING
Est. value
$505,000
NEIGHBORHOOD: SHOPPING CENTER
COMMERCIAL (GENERAL)
MEDICAL BUILDING
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
1954
Construction
BRICK
Heating
CENTRAL
Cooling
Yes
Stories
1
Lot
0.18 ac
Current owner
From public records · entity-resolved
City Of Raleigh
Entity
Free & Clear · 3 yrs held
Mailing address
1 EXCHANGE PLZ STE #1000, RALEIGH, NC 27601-1867
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2023
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
Jul 7, 2023
$2,900,000
City Of Raleigh
Longview Acre LLC
Warranty Deed
—
Mar 24, 2020
$1,200,000
Longview Acre LLC
Zlb LLC
Warranty Deed
—
May 31, 2011
—
Zlb LLC
Byrd,zachary L SR
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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