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Property profile & analytics
OFF-MARKET
Estimated value
$1,880,000
Retail space
237 Wilmington St Raleigh, NC 27601-1433
Entity Owned
14-yr Hold
Free & Clear
Property ID
US53-2907654
Property profile
Verified
Property type
Retail space
Use group
STORE, RETAIL OUTLET
Year built
1930
Construction
BRICK
Total area
9,072 SF
Lot
0.1 ac (4,356 SF)
Zoning code
DX-7
APN
1703.34-77-3964 0072944
UPID
US53-2907654
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
-
Love is Love Mural Art Gallery
-
Beasley's Chicken + Honey Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.34M
Comparable Approach
Comparable
$1.33M
Blend (final)
Blend
$1.88M
Owner & transaction history
Carpenter-jensen Ventures LLC · 14 yrs held
Carpenter-jensen Ventures LLC
since 2011
7 recorded transactions
Zoning & alternative use
DX-7 · 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%
$2,530,000
6.5%
$2,335,000
7%
$2,165,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$2,940,000
Change: -17% · Conversion: Easy
MEDICAL BUILDING
$2,860,000
Change: -20% · Conversion: Difficult
Blend value · Realmo final
$1.88M
Range $1.69M – $2.07M · ±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
$207 / 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
$22,838
Tax year 2023
Assessed value
$1,954,317
Assessed 2023
Previous assessed
$1,954,317
+0.0% YoY
Effective rate
1.17%
On assessed value
Assessed land
$1,308,107
Assessed improvement
$646,210
Land market value
$1,308,107
Improvement market value
$646,210
Total market value
$1,954,317
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
STORE, RETAIL OUTLET
Status
Off-Market
Year built
1930
Construction
BRICK
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Total area
9,072 SF
Lot
0.1 ac (4,356 SF)
Zoning code
DX-7
APN
1703.34-77-3964 0072944
UPID
US53-2907654
Jurisdiction
WAKE
Zoning & alternative use
DX-7 · Raleigh, NCZoning DX-7 · permitted uses
DX-7 · Raleigh, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL)
Est. value
$2.9M
MEDICAL BUILDING
Est. value
$2.9M
COMMERCIAL (GENERAL)
MEDICAL 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
1930
Construction
BRICK
Heating
CENTRAL
Cooling
Yes
Stories
1
Lot
0.1 ac
Current owner
From public records · entity-resolved
Carpenter-jensen Ventures LLC
Entity
Free & Clear · 14 yrs held
Mailing address
301 FAYETTEVILLE ST UNIT #2808, RALEIGH, NC 27601-2177
Ownership since
2011
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 23, 2023
—
Carpenter Jensen Ventures LLC
—
Deed
related
$2,500,000 · Farmers & Merchants Bank
Aug 19, 2019
—
Carpenter-jensen Ventures LLC
—
Deed
related
$2,236,292 · Branch Bk&tr
Sep 19, 2011
—
Carpenter-jensen Ventures LLC
Sdb LLC Of Raleigh
Grant Deed
related
—
Sep 18, 2008
$1,000,000
Carpenter-jensen Ventures LLC
Sdb LLC Of Raleigh
Grant Deed
—
Mar 4, 2004
$613,000
Sdb LLC Of Raleigh
Simmons,clyde E & Patricia F
Warranty Deed
$550,000 · Branch Banking & Trust Co
—
—
Carpenter-jensen Ventures LLC
—
Deed Of Trust
related
$2,236,292 · Branch Bk&tr
—
—
Carpenter-jensen Ventures LLC
—
Deed Of Trust
related
$1,150,000 · Paragon Commercial Bank
—
—
Carpenter Jensen Ventures LLC
—
Deed Of Trust
related
$1,687,250 · Branch Banking & Trust Co
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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