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Property profile & analytics
OFF-MARKET
Estimated value
$1,250,000
Investment properties
2003 Wake Frst Rd Raleigh, NC 27608-2733
Entity Owned
1-yr Hold
Free & Clear
Property ID
US53-0683859
Property profile
Verified
Property type
Investment properties
Use group
STORE/OFFICE (MIXED USE)
Year built
1948
Construction
BRICK
Total area
5,192 SF
Lot
0.17 ac (7,405 SF)
Zoning code
CX-3
APN
1714.05-19-1118 0068170
UPID
US53-0683859
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.11M
Comparable Approach
Comparable
$1.10M
Blend (final)
Blend
$1.25M
Owner & transaction history
Wake Forest Road LLC · 1 yrs held
Wake Forest Road LLC
since 2025
Last sale
$1.4M
5 recorded transactions
Zoning & alternative use
CX-3 · Raleigh, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$2.0M
+21.2%
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
by Request
CAP Approach
CAP Return
Estimation
6%
$1,195,000
6.5%
$1,105,000
7%
$1,025,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,685,000
Current use
RETAIL STORES
$2,040,000
Change: +21% · Conversion: Easy
MEDICAL BUILDING
$1,635,000
Change: -3% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,530,000
Change: -9% · Conversion: Difficult
Blend value · Realmo final
$1.25M
Range $1.13M – $1.38M · ±10% · vs last sale $1.40M (Mar 1 2025)
Last sale anchor
$1.40M
Mar 1 2025
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
$241 / 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
$4,896
Tax year 2023
Assessed value
$449,217
Assessed 2023
Previous assessed
$449,217
+0.0% YoY
Effective rate
1.09%
On assessed value
Assessed land
$155,283
Assessed improvement
$293,934
Land market value
$155,283
Improvement market value
$293,934
Total market value
$449,217
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
Investment properties
Use group
STORE/OFFICE (MIXED USE)
Status
Off-Market
Year built
1948
Construction
BRICK
Heating
CENTRAL
Cooling
CENTRAL
Stories
2
Total area
5,192 SF
Lot
0.17 ac (7,405 SF)
Zoning code
CX-3
APN
1714.05-19-1118 0068170
UPID
US53-0683859
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.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$1.7M
RETAIL STORES
Est. value
$2.0M
MEDICAL BUILDING
Est. value
$1.6M
AUTO REPAIR, GARAGE
Est. value
$1.5M
COMMERCIAL (GENERAL) Current
RETAIL STORES
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
1948
Construction
BRICK
Heating
CENTRAL
Cooling
Yes
Stories
2
Lot
0.17 ac
Current owner
From public records · entity-resolved
Wake Forest Road LLC
Entity
Free & Clear · 1 yrs held
Mailing address
4441 6TH FRKS RD STE #106, RALEIGH, NC 27609-5729
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 29, 2025
—
Wake Forest Road LLC
2003 Wf Road LLC
Warranty Deed
—
May 29, 2025
$1,398,000
2003 Wake Forest Road LLC
2003 Wf Road LLC
Special Warranty Deed
$1,310,625 · First Citizens Bank & Trust Co
Jan 10, 2022
—
2003 Wf Road LLC
Zennia Properties LLC
Deed
—
Jan 6, 2022
$1,150,000
2003wf Road LLC
Zennia Properties LLC
Warranty Deed
—
Jun 27, 2006
$235,000
Zennia Properties LLC
Busse,adrian D & Jeanette S
Warranty Deed
—
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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