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Property profile & analytics
OFF-MARKET
Estimated value
$790,000
Turn key restaurants
2400 Millbrook Rd, Raleigh, NC 27604-2806
Individually Owned
14-yr Hold
~
Est. High Equity
Property ID
US53-1920419
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1997
Construction
BRICK
Total area
11,842 SF
Lot
2.83 ac (123,275 SF)
Zoning code
NX-3
APN
1716.16-93-7683 0072571
UPID
US53-1920419
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
-
Berean Baptist Church Church
-
Berean Community Center Volunteer Organization Charitable Organization
-
Garden On Millbrook Catering Take-out & Catering Catering Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$525k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.05M
Blend (final)
Blend
$790k
Owner & transaction history
Berean Baptist Ch Of Ninth Ward/c · 14 yrs held
Berean Baptist Ch Of Ninth Ward/c
since 2012
7 recorded transactions
Zoning & alternative use
NX-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
$525,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$790k
Range $711k – $869k · ±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
$67 / 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
Assessed value
$2,351,265
Assessed 2023
Previous assessed
$2,351,265
+0.0% YoY
Assessed land
$610,211
Assessed improvement
$1,741,054
Land market value
$610,211
Improvement market value
$1,741,054
Total market value
$2,351,265
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1997
Construction
BRICK
Heating
CENTRAL
Cooling
CENTRAL
Buildings
2
Stories
1
Rooms
7
Bathrooms
2
Total area
11,842 SF
Lot
2.83 ac (123,275 SF)
Zoning code
NX-3
APN
1716.16-93-7683 0072571
UPID
US53-1920419
Jurisdiction
WAKE
Zoning & alternative use
NX-3 · Raleigh, NC
Zoning NX-3 · permitted uses
NX-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
1997
Construction
BRICK
Heating
CENTRAL
Cooling
Yes
Stories
1
Buildings
2
Rooms
7
Bathrooms
2
Lot
2.83 ac
Current owner
From public records · entity-resolved
Berean Baptist Ch Of Ninth Ward/c
Individual
Mailing address
2400 E MILLBROOK RD, RALEIGH, NC 27604-2806
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2012
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 25, 2012
$1,035,000
Berean Baptist Ch Of Ninth Ward/c
Slb Investment Group LLC
Grant Deed
—
Jan 25, 2012
—
Berean Baptist Ch Of Ninth Ward/c
Slb Investment Group LLC
Grant Deed
related
—
Sep 7, 2001
—
Slb Investment Group LLC
Burnett,sandra L
Grant Deed
related
—
—
—
Slb Investment Group LLC
—
Deed Of Trust
related
$100,000 · Bank Of America
—
—
Slb Investment Group LLC
—
Deed Of Trust
related
$25,000 · Bank Of America
—
—
Slb Investment Group LLC
—
Deed Of Trust
related
$1,486,000 · Bank Of America
—
—
Slb Investment Group LLC
—
Deed Of Trust
related
$2,025,000 · Bank Of America
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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