Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$880,000
Retail space
215 Martin St Raleigh, NC 27601-1323
Entity Owned
10-yr Hold
Free & Clear
Property ID
US53-1521658
Property profile
Verified
Property type
Retail space
Use group
STORE, RETAIL OUTLET
Year built
1954
Construction
BRICK
Total area
3,660 SF
Lot
0.12 ac (5,227 SF)
Zoning code
DX-20
APN
1703.33-57-9882 0052778
UPID
US53-1521658
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
-
Coinflip Bitcoin ATM Financial Advisor
-
Capitol Smoke Raleigh Department Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$940k
Comparable Approach
Comparable
$631k
Blend (final)
Blend
$880k
Owner & transaction history
Jt Hobby & Son INC · 10 yrs held
Jt Hobby & Son INC
since 2015
1 recorded transaction
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
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%
$1,020,000
6.5%
$940,000
7%
$875,000
Alternative Use
Use
Estimation
RETAIL STORES
$1,440,000
Current use
COMMERCIAL (GENERAL)
$1,185,000
Change: -17% · Conversion: Easy
MEDICAL BUILDING
$1,155,000
Change: -20% · Conversion: Difficult
Blend value · Realmo final
$880k
Range $792k – $968k · ±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
$240 / 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
$10,850
Tax year 2023
Assessed value
$928,481
Assessed 2023
Previous assessed
$928,481
+0.0% YoY
Effective rate
1.17%
On assessed value
Assessed land
$917,339
Assessed improvement
$11,142
Land market value
$917,339
Improvement market value
$11,142
Total market value
$928,481
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
STORE, RETAIL OUTLET
Status
Off-Market
Year built
1954
Construction
BRICK
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Total area
3,660 SF
Lot
0.12 ac (5,227 SF)
Zoning code
DX-20
APN
1703.33-57-9882 0052778
UPID
US53-1521658
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
RETAIL STORES Current
Est. value
$1.4M
COMMERCIAL (GENERAL)
Est. value
$1.2M
MEDICAL BUILDING
Est. value
$1.2M
RETAIL STORES Current
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
1954
Construction
BRICK
Heating
CENTRAL
Cooling
Yes
Stories
1
Lot
0.12 ac
Current owner
From public records · entity-resolved
Jt Hobby & Son INC
Entity
Free & Clear · 10 yrs held
Mailing address
515 N BLOUNT ST, RALEIGH, NC 27604-1119
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 7, 2015
$732,000
Jt Hobby & Son INC
York,philip S & Louise B
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.
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 215 Martin 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.
