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Property profile & analytics
OFF-MARKET
Estimated value
$610,000
Auto shops
1964 Ray Rd Spring Lake, NC 28390-7736
Entity Owned
13-yr Hold
~
Est. High Equity
Property ID
US53-1373602
Property profile
Verified
Property type
Auto shops
Use group
AUTO REPAIR, GARAGE
Year built
1986
Construction
STEEL FRAME
Total area
7,200 SF
Lot
2.09 ac (91,040 SF)
Zoning code
COMM
APN
010514 0546
UPID
US53-1373602
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
-
U-Haul Neighborhood Dealer Car Rental Facility
-
J and P Metal Works Factory Production Facility
-
Ray Road Auto Parts and Service Auto Repair Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$611k
Blend (final)
Blend
$610k
Owner & transaction history
Ray Road Auto Parts & Svc INC
Ray Road Auto Parts & Svc INC
3 recorded transactions
Zoning & alternative use
COMM · Spring Lake, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$940,000
+12.4%
Commercial (general)
$880,000
+5.5%
Warehouse, storage
$840,000
+0.7%
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 Spring Lake submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Spring Lake 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
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$835,000
Current use
RESTAURANT
$940,000
Change: +12% · Conversion: Difficult
COMMERCIAL (GENERAL)
$880,000
Change: +5% · Conversion: Moderate
WAREHOUSE, STORAGE
$840,000
Change: +1% · Conversion: Easy
RETAIL STORES
$725,000
Change: -13% · Conversion: Difficult
Blend value · Realmo final
$610k
Range $549k – $671k · ±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
$85 / 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
$3,013
Tax year 2023
Assessed value
$417,640
Assessed 2023
Previous assessed
$417,640
+0.0% YoY
Effective rate
0.72%
On assessed value
Land market value
$85,200
Improvement market value
$332,440
Total market value
$417,640
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
Auto shops
Use group
AUTO REPAIR, GARAGE
Status
Off-Market
Year built
1986
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Bathrooms
3
Total area
7,200 SF
Lot
2.09 ac (91,040 SF)
Zoning code
COMM
APN
010514 0546
UPID
US53-1373602
Jurisdiction
HARNETT
Zoning & alternative use
COMM · Spring Lake, NC
Zoning COMM · permitted uses
COMM · Spring Lake, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Spring Lake. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
AUTO REPAIR, GARAGE Current
Est. value
$835,000
RESTAURANT
Est. value
$940,000
COMMERCIAL (GENERAL)
Est. value
$880,000
WAREHOUSE, STORAGE
Est. value
$840,000
RETAIL STORES
Est. value
$725,000
AUTO REPAIR, GARAGE Current
RESTAURANT
COMMERCIAL (GENERAL)
WAREHOUSE, STORAGE
RETAIL STORES
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
1986
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Bathrooms
3
Lot
2.09 ac
Current owner
From public records · entity-resolved
Ray Road Auto Parts & Svc INC
Entity
Mailing address
1964 RAY RD, SPRING LAKE, NC 28390-7736
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
—
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
—
—
Ray Road Auto Parts & Svc INC
—
Deed Of Trust
related
$47,799 · Branch Bk&tr
—
—
Ray Road Auto Parts & Svc INC
—
Deed Of Trust
related
$200,200 · Branch Bk&tr
—
—
Joseph S Phillips
—
Deed Of Trust
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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