Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$2,805,000
Auto shops
2131 Harrod St Raleigh, NC 27604-1725
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US53-2190364
Property profile
Verified
Property type
Auto shops
Use group
AUTO REPAIR, GARAGE
Year built
1990
Construction
CONCRETE BLOCKS
Total area
5,280 SF
Lot
0.81 ac (35,284 SF)
Zoning code
IX-3
APN
1716.20-70-9996 0179973
UPID
US53-2190364
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
-
Chapel Hill Tire - Atlantic Avenue Auto Repair Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.04M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.81M
Owner & transaction history
Pons Family LLC · 4 yrs held
Pons Family LLC
since 2022
Last sale
$2.6M
6 recorded transactions
Zoning & alternative use
IX-3 · Raleigh, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The IX-3 is intended to provide for a variety of light industrial and manufacturinguses while allowing for retail, service and commercial activity andlimited housing opportunities
Zone name
Industrial Mixed Use
General category
MIXED_USE
Zone area
4,634.30 ac
Source
Realmo
Top alternative use upside
Neighborhood: shopping center
$2.9M
+86.9%
Restaurant
$2.9M
+84.4%
Commercial (general)
$1.7M
+10.0%
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
$2,955,000
ML approach
$3,040,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$2,910,000
Change: +87% · Conversion: Difficult
RESTAURANT
$2,870,000
Change: +84% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,715,000
Change: +10% · Conversion: Moderate
Blend value · Realmo final
$2.81M
Range $2.52M – $3.09M · ±10% · vs last sale $2.62M (Jul 26 2022)
Last sale anchor
$2.62M
Jul 26 2022
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
$531 / 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
$7,285
Tax year 2023
Assessed value
$668,324
Assessed 2023
Previous assessed
$668,324
+0.0% YoY
Effective rate
1.09%
On assessed value
Assessed land
$174,656
Assessed improvement
$493,668
Land market value
$174,656
Improvement market value
$493,668
Total market value
$668,324
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
1990
Construction
CONCRETE BLOCKS
Heating
SPACE
Cooling
CENTRAL
Stories
1
Total area
5,280 SF
Lot
0.81 ac (35,284 SF)
Zoning code
IX-3
APN
1716.20-70-9996 0179973
UPID
US53-2190364
Jurisdiction
WAKE
Zoning & alternative use
IX-3 · Raleigh, NCZoning 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
Zoning description
The IX-3 is intended to provide for a variety of light industrial and manufacturinguses while allowing for retail, service and commercial activity andlimited housing opportunities
Zone name
Industrial Mixed Use
General category
MIXED_USE
Zone area
4,634.30 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.9M
RESTAURANT
Est. value
$2.9M
COMMERCIAL (GENERAL)
Est. value
$1.7M
NEIGHBORHOOD: SHOPPING CENTER
RESTAURANT
COMMERCIAL (GENERAL)
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
1990
Construction
CONCRETE BLOCKS
Heating
SPACE
Cooling
Yes
Stories
1
Lot
0.81 ac
Current owner
From public records · entity-resolved
Pons Family LLC
Entity
Mailing address
520 W FRANKLIN ST, CHAPEL HILL, NC 27516-2317
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 11, 2023
—
Pons Family LLC
—
Deed
related
$13,100,000 · First Horizon Bank
Feb 6, 2023
—
Pons Family LLC
—
Deed
related
$5,856,000 · First Horizon Bank
Oct 5, 2022
—
Pons Family LLC
—
Deed
related
$5,856,000 · First Horizon Bank
Jul 26, 2022
$2,616,000
Pons Family LLC
Link Properties LLC
Special Warranty Deed
$5,856,000 · First Horizon Bank
Jan 16, 2019
$375,000
Link Properties LLC
Short Street Properties LLC
Grant Deed
—
Jul 18, 2018
$375,000
Short Street Properties LLC
Atlantic Partner LLC
Grant 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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 2131 Harrod St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
