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Property profile & analytics
OFF-MARKET
Estimated value
$26,655,000
Distribution centers
2233 Capital Blvd, Raleigh, NC 27604-1421
Entity Owned
Free & Clear
Property ID
US53-1169952
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
1950
Construction
BRICK
Total area
189,027 SF
Lot
19.08 ac (831,125 SF)
Zoning code
IX-3
APN
1715.18-40-4492 0050663
UPID
US53-1169952
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
-
Epiphany Wines Brewery & Distillery Big Box & Wholesale Store
-
Mutual Distributing Company Big Box & Wholesale Store Distribution Center
-
Johnson Brothers Carolina Distributing Co.- Durham Big Box & Wholesale Store Distribution Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$22.60M
Comparable Approach
Comparable
$19.85M
Blend (final)
Blend
$26.66M
Owner & transaction history
BLD ONE LLC
BLD ONE LLC
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%
$24,485,000
6.5%
$22,600,000
7%
$20,985,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$42,830,000
Current use
RETAIL STORES
$42,780,000
Change: 0% · Conversion: Moderate
Blend value · Realmo final
$26.66M
Range $23.99M – $29.32M · ±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
$141 / 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
$325,174
Tax year 2024
Assessed value
$37,440,855
Assessed 2024
Previous assessed
$37,440,855
+0.0% YoY
Effective rate
0.87%
On assessed value
Assessed land
$17,952,300
Assessed improvement
$19,488,555
Land market value
$17,952,300
Improvement market value
$19,488,555
Total market value
$37,440,855
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
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
Off-Market
Year built
1950
Construction
BRICK
Heating
SPACE
Cooling
NONE
Buildings
5
Stories
1
Units
19
Total area
189,027 SF
Lot
19.08 ac (831,125 SF)
Zoning code
IX-3
APN
1715.18-40-4492 0050663
UPID
US53-1169952
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
$42.8M
RETAIL STORES
Est. value
$42.8M
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
1950
Construction
BRICK
Heating
SPACE
Cooling
Yes
Stories
1
Buildings
5
Units
19
Lot
19.08 ac
Current owner
From public records · entity-resolved
BLD ONE LLC
Entity
Free & Clear · 0 yrs held
Mailing address
PO BOX 26446, RALEIGH, NC 27611-6446
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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