New search
Property profile & analytics
OFF-MARKET
Estimated value
$2,485,000
Drive through restaurants
2214 Eric Ln, Burlington, NC 27215-5470
Individually Owned
4-yr Hold
Free & Clear
Property ID
US53-0830296
Property profile
Verified
Property type
Drive through restaurants
Use group
DRIVE-THRU RESTAURANT, FAST FOOD
Year built
1999
Total area
3,018 SF
Lot
0.68 ac (29,751 SF)
Zoning code
I 2
APN
120487
UPID
US53-0830296
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
-
Wendy's Restaurant Take-out & Catering
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.82M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.07M
Blend (final)
Blend
$2.49M
Owner & transaction history
Beverly Nelson · 4 yrs held
Beverly Nelson
since 2021
Last sale
$2.5M
7 recorded transactions
Zoning & alternative use
I 2 · Burlington, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Burlington submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Burlington 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
$2,540,000
ML approach
$2,815,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$2.49M
Range $2.24M – $2.73M · ±10% · vs last sale $2.50M (Jul 16 2021)
Last sale anchor
$2.50M
Jul 16 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
$823 / 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
$6,532
Tax year 2023
Assessed value
$1,512,131
Assessed 2023
Previous assessed
$1,512,131
+0.0% YoY
Effective rate
0.43%
On assessed value
Assessed land
$247,603
Assessed improvement
$1,264,528
Land market value
$247,603
Improvement market value
$1,264,528
Total market value
$1,512,131
Applied tax rate
12.0000
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
Drive through restaurants
Use group
DRIVE-THRU RESTAURANT, FAST FOOD
Status
Off-Market
Year built
1999
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Rooms
2
Bathrooms
2
Total area
3,018 SF
Lot
0.68 ac (29,751 SF)
Zoning code
I 2
APN
120487
UPID
US53-0830296
Jurisdiction
ALAMANCE
Zoning & alternative use
I 2 · Burlington, NC
Zoning I 2 · permitted uses
I 2 · Burlington, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Burlington. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1999
Heating
FORCED AIR
Cooling
Yes
Stories
1
Rooms
2
Bathrooms
2
Lot
0.68 ac
Current owner
From public records · entity-resolved
Beverly Nelson
Individual
Free & Clear · 4 yrs held
Mailing address
1735 WALLER ST, PORTSMOUTH, OH 45662-3540
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
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 16, 2021
$2,500,000
Beverly Nelson
E&d W Re 2214 Eric Lane LLC
Special Warranty Deed
—
Dec 20, 2019
—
E & D W Re 214 Eric Lane LLC
—
Deed
related
$1,637,301 · Thelender
Jun 26, 2019
$12,194,500
E & D W Re Holdings LLC
Whgre LLC
Grant Deed
—
Jun 26, 2019
—
E & D W Re 2214 Eric Lane LLC
E & D W Re Holdings LLC
Quit Claim Deed
—
Aug 28, 2018
—
Whgre LLC
Walker Holdings Group LLC
Warranty Deed
related
—
Jun 30, 2016
$900,000
Walker Holdings Group LLC
Triad Holding Co LLC
Warranty Deed
—
Aug 25, 2011
—
Triad Holding Co LLC
—
Trustees Deed
related
$2,035,350 · High Point Bk&tr
—
—
E & D W Re 214 Eric Lane LLC
—
Deed Of Trust
related
$1,637,301 · Thelender
—
—
Triad Holding Co LLC
—
Deed Of Trust
related
$2,026,071 · High Point Bank & Trust Co
—
—
Triad Holding Co LLC
—
Deed Of Trust
related
$1,870,000 · High Point Bk&tr
—
—
Triad Holding Co LLC
—
Loan Modification
related
—
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 2214 Eric Ln?
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.
