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Property profile & analytics
OFF-MARKET
Estimated value
$6,775,000
Office buildings
200 Morgan St Raleigh, NC 27601-1562
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US53-5637609
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1958
Construction
BRICK
Total area
20,658 SF
Lot
0.66 ac (28,750 SF)
Zoning code
DX-20
APN
1703.25-69-1063 0080762
UPID
US53-5637609
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
-
Diocesan House Church Mosque
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$6.21M
CAP Approach
CAP
$4.70M
Comparable Approach
Comparable
$5.06M
Blend (final)
Blend
$6.78M
Owner & transaction history
200 W Morgan LLC · 3 yrs held
200 W Morgan LLC
since 2023
Last sale
$9.1M
3 recorded transactions
Zoning & alternative use
DX-20 · Raleigh, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The DX-20 is intended to provide for intense mixed use development of the Citysdowntown area
Zone name
Downtown Mixed Use
General category
MIXED_USE
Zone area
4.89 ac
Source
Realmo
Top alternative use upside
Restaurant
$11.2M
+178.7%
Retail stores
$8.1M
+101.4%
Commercial (general)
$6.7M
+66.3%
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
$6,485,000
ML approach
$6,210,000
CAP Approach
CAP Return
Estimation
6%
$5,085,000
6.5%
$4,695,000
7%
$4,360,000
Alternative Use
Use
Estimation
RESTAURANT
$11,230,000
Change: +179% · Conversion: Moderate
RETAIL STORES
$8,115,000
Change: +101% · Conversion: Moderate
COMMERCIAL (GENERAL)
$6,700,000
Change: +66% · Conversion: Easy
MEDICAL BUILDING
$6,515,000
Change: +62% · Conversion: Easy
AUTO REPAIR, GARAGE
$6,090,000
Change: +51% · Conversion: Difficult
Blend value · Realmo final
$6.78M
Range $6.10M – $7.45M · ±10% · vs last sale $9.10M (Jun 15 2023)
Last sale anchor
$9.10M
Jun 15 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
$328 / 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
$69,037
Tax year 2023
Assessed value
$5,907,628
Assessed 2023
Previous assessed
$5,907,628
+0.0% YoY
Effective rate
1.17%
On assessed value
Assessed land
$5,755,750
Assessed improvement
$151,878
Land market value
$5,755,750
Improvement market value
$151,878
Total market value
$5,907,628
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1958
Construction
BRICK
Heating
CENTRAL
Cooling
CENTRAL
Stories
3
Total area
20,658 SF
Lot
0.66 ac (28,750 SF)
Zoning code
DX-20
APN
1703.25-69-1063 0080762
UPID
US53-5637609
Jurisdiction
WAKE
Zoning & alternative use
DX-20 · Raleigh, NCZoning DX-20 · permitted uses
DX-20 · Raleigh, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The DX-20 is intended to provide for intense mixed use development of the Citysdowntown area
Zone name
Downtown Mixed Use
General category
MIXED_USE
Zone area
4.89 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT
Est. value
$11.2M
RETAIL STORES
Est. value
$8.1M
COMMERCIAL (GENERAL)
Est. value
$6.7M
MEDICAL BUILDING
Est. value
$6.5M
AUTO REPAIR, GARAGE
Est. value
$6.1M
RESTAURANT
RETAIL STORES
COMMERCIAL (GENERAL)
MEDICAL BUILDING
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
1958
Construction
BRICK
Heating
CENTRAL
Cooling
Yes
Stories
3
Lot
0.66 ac
Current owner
From public records · entity-resolved
200 W Morgan LLC
Entity
Mailing address
540 W MADISON ST STE #2500, CHICAGO, IL 60661-2555
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
Jun 15, 2023
$9,100,000
200 W Morgan LLC
Samuel S Rodman
Special Warranty Deed
$4,750,000 · The Northern Trust Co
Jul 3, 2014
—
Trustees Of Protestant Episcopal
Diocesan Hse Foun Of Episcopal Di
Grant Deed
related
—
May 1, 2007
$2,750,000
Diocesan Hse Foun Of Episcopal Di
200 West Morgan Street Assocs
Grant Deed
$676,269 · Dynex Com'l
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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