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Property profile & analytics
OFF-MARKET
Estimated value
$555,000
Grocery and convenience stores
2229 Raleigh Rd, Chapel Hill, NC 27517-8610
Entity Owned
9-yr Hold
Free & Clear
Property ID
US53-0972618
Property profile
Verified
Property type
Grocery and convenience stores
Use group
CONVENIENCE STORE (W/FUEL PUMP)
Year built
1994
Total area
2,723 SF
Lot
0.93 ac (40,511 SF)
Zoning code
CC
APN
142615
UPID
US53-0972618
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
-
Circle K | Car Wash Car Wash
-
Bitcoin Depot - Bitcoin ATM Atm
-
Smoke-Stock & Chimney Cleaning Corporate_NC, WOR Building Supply Hardware & Home Improvement
-
Circle K Gas Station
-
Bitcoin Depot ATM Atm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$520k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$593k
Blend (final)
Blend
$555k
Owner & transaction history
M M Fowler INC · 9 yrs held
M M Fowler INC
since 2017
1 recorded transaction
Zoning & alternative use
CC · Chapel Hill, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$535,000
+21.8%
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 Chapel Hill submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Chapel Hill 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
$520,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
SERVICE STATION (FULL SERVICE)
$440,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$535,000
Change: +22% · Conversion: Difficult
COMMERCIAL (GENERAL)
$385,000
Change: -12% · Conversion: Difficult
OFFICE BUILDING
$385,000
Change: -13% · 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
$204 / 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 2022Property tax & assessments
Tax year 2022
Tax billed
$22,500
Tax year 2022
Assessed value
$1,757,921
Assessed 2023
Previous assessed
$1,757,921
+0.0% YoY
Effective rate
1.28%
On assessed value
Assessed land
$1,312,353
Assessed improvement
$445,568
Land market value
$1,312,353
Improvement market value
$445,568
Total market value
$1,757,921
Applied tax rate
1.0000
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
Grocery and convenience stores
Use group
CONVENIENCE STORE (W/FUEL PUMP)
Status
Off-Market
Year built
1994
Heating
YES
Cooling
YES
Stories
1
Total area
2,723 SF
Lot
0.93 ac (40,511 SF)
Zoning code
CC
APN
142615
UPID
US53-0972618
Jurisdiction
DURHAM
Zoning & alternative use
CC · Chapel Hill, NC
Zoning CC · permitted uses
CC · Chapel Hill, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Chapel Hill. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
SERVICE STATION (FULL SERVICE) Current
Est. value
$440,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$535,000
COMMERCIAL (GENERAL)
Est. value
$385,000
OFFICE BUILDING
Est. value
$385,000
SERVICE STATION (FULL SERVICE) Current
NEIGHBORHOOD: SHOPPING CENTER
COMMERCIAL (GENERAL)
OFFICE 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
1994
Heating
YES
Cooling
Yes
Stories
1
Lot
0.93 ac
Current owner
From public records · entity-resolved
M M Fowler INC
Entity
Free & Clear · 9 yrs held
Mailing address
4220 NEAL RD, DURHAM, NC 27705-2322
Ownership since
2017
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
Apr 5, 2017
$1,750,000
M M Fowler INC
Stallings Oil Co
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.
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