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Property profile & analytics
OFF-MARKET
Estimated value
$695,000
Retail space
2309 Spg Frst Rd Raleigh, NC 27615-7529
Entity Owned
8-yr Hold
Absentee Owner
Free & Clear
Property ID
US53-0361867
Property summary
AI-generated overview
This exceptional Class A retail property, located at 2309 Spring Forest Rd, Raleigh, NC 27615, offers 10 available suites in a vibrant Raleigh submarket. The building, completed in 2025, boasts a total of 20,000 square feet, with individual suite sizes ranging from a minimum of 1,880 square feet to a maximum contiguous space of 2,850 square feet. Currently, 15,050 square feet are vacant, presenting a significant opportunity for multiple tenants. The two-story building features ample parking with 93 spaces conveniently located for customers and employees. The property is served by Duke Energy and includes elevators for easy access to both floors. Its strategic location on Spring Forest Rd, with cross access to Atlantic Avenue, ensures high visibility and accessibility. This is an ideal location for fast-food restaurants or similar businesses seeking a modern, well-maintained space in a thriving area of Raleigh. The property's Class A designation reflects its superior construction and amenities. Don't miss this chance to secure prime retail space in a high-demand location.
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2022
Construction
BRICK
Total area
3,708 SF
Lot
1.26 ac (54,886 SF)
Zoning code
CX-3
APN
1716.08-88-2877 0001612
UPID
US53-0361867
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$670k
CAP Approach
CAP
$755k
Comparable Approach
Comparable
$655k
Blend (final)
Blend
$695k
Owner & transaction history
LINS CAPITAL LLC
LINS CAPITAL LLC
Zoning & alternative use
CX-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
$670,000
CAP Approach
CAP Return
Estimation
6%
$815,000
6.5%
$755,000
7%
$700,000
Blend value · Realmo final
$695k
Range $626k – $765k · ±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
$187 / 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
$13,049
Tax year 2024
Assessed value
$1,502,428
Assessed 2024
Previous assessed
$1,052,671
+42.7% YoY
Effective rate
0.87%
On assessed value
Assessed land
$974,599
Assessed improvement
$527,829
Land market value
$974,599
Improvement market value
$527,829
Total market value
$1,502,428
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
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
2022
Construction
BRICK
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Rooms
7
Bathrooms
2
Total area
3,708 SF
Lot
1.26 ac (54,886 SF)
Zoning code
CX-3
APN
1716.08-88-2877 0001612
UPID
US53-0361867
Jurisdiction
WAKE
Zoning & alternative use
CX-3 · Raleigh, NC
Zoning CX-3 · permitted uses
CX-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.
Building & site characteristics
From public records
Year built
2022
Construction
BRICK
Heating
CENTRAL
Cooling
Yes
Stories
1
Rooms
7
Bathrooms
2
Lot
1.26 ac
Current owner
From public records · entity-resolved
LINS CAPITAL LLC
Entity
Free & Clear · 0 yrs held
Mailing address
932 HUNGERFORD DR STE 34A, ROCKVILLE, MD 20850-1753
Mailing matches property
Different — outreach signal
Owner-occupied
No
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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