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Property profile & analytics
OFF-MARKET
Estimated value
$940,000
Retail space
1665 Market Dr Raleigh, NC 27609-2502
Entity Owned
12-yr Hold
~
Est. High Equity
Property ID
US53-1383228
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1984
Construction
METAL FRAME
Total area
6,018 SF
Lot
0.54 ac (23,522 SF)
Zoning code
IX-3
APN
1716.19-51-9285 0128917
UPID
US53-1383228
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
-
Us Print (Bike/Boat/Book/etc) Store Printing Service
-
HomeStyle Flooring Carpet & Flooring Store Hardware & Home Improvement
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$940k
Owner & transaction history
Lem Properties LLC · 12 yrs held
Lem Properties LLC
since 2014
7 recorded transactions
Zoning & alternative use
IX-3 · Raleigh, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The IX-3 is intended to provide for a variety of light industrial and manufacturinguses while allowing for retail, service and commercial activity andlimited housing opportunities
Zone name
Industrial Mixed Use
General category
MIXED_USE
Zone area
4,634.30 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$156 / 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
$6,420
Tax year 2023
Assessed value
$589,005
Assessed 2023
Previous assessed
$589,005
+0.0% YoY
Effective rate
1.09%
On assessed value
Assessed land
$188,411
Assessed improvement
$400,594
Land market value
$188,411
Improvement market value
$400,594
Total market value
$589,005
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
1984
Construction
METAL FRAME
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Total area
6,018 SF
Lot
0.54 ac (23,522 SF)
Zoning code
IX-3
APN
1716.19-51-9285 0128917
UPID
US53-1383228
Jurisdiction
WAKE
Zoning & alternative use
IX-3 · Raleigh, NCZoning IX-3 · permitted uses
IX-3 · Raleigh, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The IX-3 is intended to provide for a variety of light industrial and manufacturinguses while allowing for retail, service and commercial activity andlimited housing opportunities
Zone name
Industrial Mixed Use
General category
MIXED_USE
Zone area
4,634.30 ac
Source
Realmo
Building & site characteristics
From public records
Year built
1984
Construction
METAL FRAME
Heating
CENTRAL
Cooling
Yes
Stories
1
Lot
0.54 ac
Current owner
From public records · entity-resolved
Lem Properties LLC
Entity
Mailing address
PO BOX 58278, RALEIGH, NC 27658-8278
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2014
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 8, 2023
—
Lem Properties LLC
—
Deed
related
$950,000 · The Fidelity Bank
Dec 28, 2021
—
Lem Properties LLC
—
Deed
related
$743,750 · The Fidelity Bank
Oct 5, 2017
—
Lem Properties LLC
—
Deed
related
$700,000 · Branch Bk&tr
Jul 1, 2014
$450,000
Lem Properties LLC
Carter,thomas E
Warranty Deed
$382,500 · Branch Bk&tr
Apr 23, 2013
$325,000
Thomas E Carter
Coley Family Trust
Warranty Deed
—
Mar 9, 2009
$59,500
Coley Family Trust
Coley Properties
Quit Claim Deed
related
—
—
—
Lem Properties LLC
—
Deed Of Trust
related
$700,000 · Branch Bk&tr
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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