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Property profile & analytics
OFF-MARKET
Estimated value
$845,000
Retail space
209 Bickett Blvd Raleigh, NC 27608-2565
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US53-0412660
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1959
Construction
FRAME
Total area
2,016 SF
Lot
0.2 ac (8,712 SF)
Zoning code
IX-3
APN
1704.11-76-0457 0047572
UPID
US53-0412660
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
-
Ajja Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$520k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$845k
Owner & transaction history
Electric Ave LLC · 5 yrs held
Electric Ave LLC
since 2021
Last sale
$975,000
7 recorded transactions
Zoning & alternative use
IX-3 · Raleigh, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$1.1M
+40.2%
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%
$560,000
6.5%
$520,000
7%
$480,000
Alternative Use
Use
Estimation
RETAIL STORES
$790,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$1,110,000
Change: +40% · Conversion: Moderate
COMMERCIAL (GENERAL)
$655,000
Change: -17% · Conversion: Easy
MEDICAL BUILDING
$635,000
Change: -20% · Conversion: Difficult
Blend value · Realmo final
$845k
Range $761k – $930k · ±10% · vs last sale $975k (May 26 2021)
Last sale anchor
$975k
May 26 2021
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
$419 / 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
$1,730
Tax year 2023
Assessed value
$158,751
Assessed 2023
Previous assessed
$158,751
+0.0% YoY
Effective rate
1.09%
On assessed value
Assessed land
$78,408
Assessed improvement
$80,343
Land market value
$78,408
Improvement market value
$80,343
Total market value
$158,751
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
1959
Construction
FRAME
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Total area
2,016 SF
Lot
0.2 ac (8,712 SF)
Zoning code
IX-3
APN
1704.11-76-0457 0047572
UPID
US53-0412660
Jurisdiction
WAKE
Zoning & alternative use
IX-3 · Raleigh, NC
Zoning 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
Raleigh. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$790,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.1M
COMMERCIAL (GENERAL)
Est. value
$655,000
MEDICAL BUILDING
Est. value
$635,000
RETAIL STORES Current
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
1959
Construction
FRAME
Heating
CENTRAL
Cooling
Yes
Stories
1
Lot
0.2 ac
Current owner
From public records · entity-resolved
Electric Ave LLC
Entity
Mailing address
14 W MARTIN ST, RALEIGH, NC 27601-1320
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 16, 2025
—
Electric Ave LLC
—
Deed
related
$927,000 · Business Expansion Funding Corporation
Sep 28, 2022
—
Electric Ave LLC
—
Deed
related
$2,025,000 · Providence Bank
Mar 28, 2022
—
Electric Ave LLC
—
Deed
related
$266,852 · Providence Bank
May 26, 2021
$975,000
Electric Ave LLC
Dubayu LLC
Warranty Deed
$1,393,023 · Providence Bank
Oct 17, 2011
—
Vincent Petrarca
Cross,heather
Grant Deed
$174,500 · Harrington Bank Fsb
May 9, 2011
—
Tdtc Construction Co
Cross,heather
Warranty Deed
related
$240,000 · Bank Of North Carolina
Jun 19, 2009
$200,000
Vincent Petrarca
M2 Properties LLC
Warranty Deed
$240,000 · Capstone Bank
Jun 27, 2003
—
M2 Properties LLC
—
Deed Of Trust
related
—
Jun 26, 2003
$427,000
M2 Properties LLC
Bickett,properti
Grant Deed
—
—
—
M2 Properties LLC
—
Deed Of Trust
related
$330,000 · Capstone Bank
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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