New search
Property profile & analytics
OFF-MARKET
Estimated value
$12,160,000
Warehouses
2220 Capital Blvd, Raleigh, NC 27604-1476
Individually Owned
10-yr Hold
Free & Clear
Property ID
US53-0989039
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
1956
Construction
BRICK
Total area
78,144 SF
Lot
5.76 ac (250,906 SF)
Zoning code
IX-3
APN
1714.06-49-3080 0079990
UPID
US53-0989039
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
-
TMT Youth Community Foundation Training Center Tutoring Service
-
FireSafeTee, aSafeTee LLC Building Supply General Contractor
-
Grow in Grace Insurance Agency LLC Insurance Agency
-
Dumpster Dudez Waste Management Facility Hazardous Waste Disposal
-
Extra Space Storage Storage Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$12.89M
Comparable Approach
Comparable
$8.21M
Blend (final)
Blend
$12.16M
Owner & transaction history
Extra Space Props Forty Five L · 10 yrs held
Extra Space Props Forty Five L
since 2015
7 recorded transactions
Zoning & alternative use
IX-3 · Raleigh, 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 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%
$13,955,000
6.5%
$12,885,000
7%
$11,965,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$17,705,000
Current use
RETAIL STORES
$17,685,000
Change: 0% · Conversion: Moderate
Blend value · Realmo final
$12.16M
Range $10.94M – $13.38M · ±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
$156 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$137,247
Tax year 2024
Assessed value
$15,802,767
Assessed 2024
Previous assessed
$15,802,767
+0.0% YoY
Effective rate
0.87%
On assessed value
Assessed land
$5,992,561
Assessed improvement
$9,810,206
Land market value
$5,992,561
Improvement market value
$9,810,206
Total market value
$15,802,767
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
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
1956
Construction
BRICK
Heating
CENTRAL
Cooling
CENTRAL
Buildings
3
Stories
1
Units
723
Total area
78,144 SF
Lot
5.76 ac (250,906 SF)
Zoning code
IX-3
APN
1714.06-49-3080 0079990
UPID
US53-0989039
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
WAREHOUSE, STORAGE Current
Est. value
$17.7M
RETAIL STORES
Est. value
$17.7M
WAREHOUSE, STORAGE Current
RETAIL STORES
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
1956
Construction
BRICK
Heating
CENTRAL
Cooling
Yes
Stories
1
Buildings
3
Units
723
Lot
5.76 ac
Current owner
From public records · entity-resolved
Extra Space Props Forty Five L
Individual
Free & Clear · 10 yrs held
Mailing address
PO BOX 71870, SALT LAKE CITY, UT 84171-0870
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
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 6, 2018
—
Extra Space Prop Forty Five Ll
—
Deed
related
$140,000,000 · Wells Fargo Bk
Aug 4, 2015
—
Extra Space Props Forty Five L
Extra Space Properties Two LLC
Quit Claim Deed
related
—
Jun 19, 2014
$7,300,000
Extra Space Properties Two LLC
Waheel Storage LLC
Grant Deed
—
Jun 29, 2012
—
Waheel Storage LLC
Job P Wyatt & Sons Co
Warranty Deed
$2,695,000 · Bank Of The Ozarks
Mar 22, 2011
—
Job P Wyatt & Sons Co
—
Trustees Deed
related
$25,000 · E Cameron JR Seely
May 1, 2009
—
Job P Wyatt & Sons Co
—
Trustees Deed
related
$160,000 · Paragon Commercial Bank
Nov 19, 2008
—
Job P Wyatt & Sons Co
—
Trustees Deed
related
$100,000 · Paragon Commercial Bank
Aug 29, 2007
—
Job P Wyatt & Sons Co
—
Trustees Deed
related
$200,000 · Paragon Commercial Bank
—
—
Job P Wyatt & Sons Co
—
Deed Of Trust
related
$200,000 · Paragon Commercial Bank
—
—
Extra Space Prop Forty Five Ll
—
Loan Modification
related
$140,000,000 · Wells Fargo Bk
—
—
Job P Wyatt & Sons Co
—
Deed Of Trust
related
$217,000 · Paragon Commercial Bank
—
—
Job P Wyatt & Sons Co
—
Deed Of Trust
related
$983,470 · Paragon Commercial 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.
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 2220 Capital Blvd?
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.
