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Property profile & analytics
OFF-MARKET
Estimated value
$555,000
Retail space
2100 New Bern Ave Raleigh, NC 27610-2431
Entity Owned
16-yr Hold
~
Est. High Equity
Property ID
US53-0739569
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1951
Construction
BRICK
Total area
2,358 SF
Lot
0.72 ac (31,363 SF)
Zoning code
CX-3
APN
1713.07-68-7775 0043966
UPID
US53-0739569
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
-
Josefs Pharmacy Pharmacy
-
Lisa Beckwith Pharmacy
-
Finny Joseph Pharmacy
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$505k
CAP Approach
CAP
$645k
Comparable Approach
Comparable
$696k
Blend (final)
Blend
$555k
Owner & transaction history
Joseph Property Management LLC · 16 yrs held
Joseph Property Management LLC
since 2010
5 recorded transactions
Zoning & alternative use
CX-3 · Raleigh, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The CX-3 is intended to provide for a variety of residential, retail, service andcommercial uses
Zone name
Commercial Mixed Use
General category
MIXED_USE
Zone area
722.48 ac
Source
Realmo
Top alternative use upside
Commercial (general)
$765,000
+12.2%
Medical building
$745,000
+9.1%
Auto repair, garage
$695,000
+2.0%
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
$505,000
CAP Approach
CAP Return
Estimation
6%
$695,000
6.5%
$645,000
7%
$600,000
Alternative Use
Use
Estimation
RETAIL STORES
$680,000
Current use
COMMERCIAL (GENERAL)
$765,000
Change: +12% · Conversion: Easy
MEDICAL BUILDING
$745,000
Change: +9% · Conversion: Difficult
AUTO REPAIR, GARAGE
$695,000
Change: +2% · Conversion: Difficult
Blend value · Realmo final
$555k
Range $500k – $611k · ±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
$235 / 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
$5,874
Tax year 2023
Assessed value
$538,885
Assessed 2023
Previous assessed
$538,885
+0.0% YoY
Effective rate
1.09%
On assessed value
Assessed land
$375,415
Assessed improvement
$163,470
Land market value
$375,415
Improvement market value
$163,470
Total market value
$538,885
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
1951
Construction
BRICK
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Total area
2,358 SF
Lot
0.72 ac (31,363 SF)
Zoning code
CX-3
APN
1713.07-68-7775 0043966
UPID
US53-0739569
Jurisdiction
WAKE
Zoning & alternative use
CX-3 · Raleigh, NCZoning 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
Zoning description
The CX-3 is intended to provide for a variety of residential, retail, service andcommercial uses
Zone name
Commercial Mixed Use
General category
MIXED_USE
Zone area
722.48 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$680,000
COMMERCIAL (GENERAL)
Est. value
$765,000
MEDICAL BUILDING
Est. value
$745,000
AUTO REPAIR, GARAGE
Est. value
$695,000
RETAIL STORES Current
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
1951
Construction
BRICK
Heating
CENTRAL
Cooling
Yes
Stories
1
Lot
0.72 ac
Current owner
From public records · entity-resolved
Joseph Property Management LLC
Entity
Mailing address
6076 DELSHIRE CT, RALEIGH, NC 27614-7315
Ownership since
2010
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
Apr 25, 2025
—
Joseph Property Management LLC
—
Deed
related
$2,235,500 · Pinnacle Bank
Jul 26, 2021
—
Joseph Property Management LLC
—
Deed
related
$2,160,000 · Live Oak Banking Company
Apr 15, 2010
$460,000
Joseph Property Management LLC
First Citizens Bk & Trust Co
Grant Deed
$368,000 · Wells Fargo Bank
—
—
Joseph Property Management LLC
—
Deed Of Trust
related
$500,000 · Branch Bk&tr
—
—
Joseph Property Management LLC
—
Deed Of Trust
related
$100,000 · 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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