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Property profile & analytics
OFF-MARKET
Estimated value
$550,000
Grocery and convenience stores
2401 Millbrook Rd Raleigh, NC 27604-2805
Entity Owned
6-yr Hold
Free & Clear
Property ID
US53-2149418
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
1979
Construction
BRICK
Total area
2,400 SF
Lot
0.68 ac (29,621 SF)
Zoning code
IX-3
APN
1716.16-93-8908 0109752
UPID
US53-2149418
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
-
Marathon Gas Gas Station
-
Bitstop Bitcoin ATM Crypto Atm Atm
-
AK Mix Grill Restaurant
-
Catrachilandia Food Truck Restaurant
-
Crisp Goldens Restaurant Take-out & Catering
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$615k
Comparable Approach
Comparable
$533k
Blend (final)
Blend
$550k
Owner & transaction history
Mk Raleigh LLC · 6 yrs held
Mk Raleigh LLC
since 2019
5 recorded transactions
Zoning & alternative use
IX-3 · Raleigh, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The IX-3 is intended to provide for a variety of light industrial and manufacturinguses while allowing for retail, service and commercial activity andlimited housing opportunities
Zone name
Industrial Mixed Use
General category
MIXED_USE
Zone area
4,634.30 ac
Source
Realmo
Top alternative use upside
Commercial (general)
$780,000
+43.3%
Medical building
$755,000
+39.4%
Auto repair, garage
$710,000
+30.3%
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%
$670,000
6.5%
$615,000
7%
$575,000
Alternative Use
Use
Estimation
RETAIL STORES
$545,000
Current use
COMMERCIAL (GENERAL)
$780,000
Change: +43% · Conversion: Easy
MEDICAL BUILDING
$755,000
Change: +39% · Conversion: Difficult
AUTO REPAIR, GARAGE
$710,000
Change: +30% · Conversion: Difficult
WAREHOUSE, STORAGE
$545,000
Change: +0% · Conversion: Difficult
OFFICE BUILDING
$470,000
Change: -14% · Conversion: Easy
Blend value · Realmo final
$550k
Range $495k – $605k · ±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
$229 / 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
$9,265
Tax year 2023
Assessed value
$850,027
Assessed 2023
Previous assessed
$850,027
+0.0% YoY
Effective rate
1.09%
On assessed value
Assessed land
$156,888
Assessed improvement
$693,139
Land market value
$156,888
Improvement market value
$693,139
Total market value
$850,027
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
GROCERY, SUPERMARKET
Status
Off-Market
Year built
1979
Construction
BRICK
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Total area
2,400 SF
Lot
0.68 ac (29,621 SF)
Zoning code
IX-3
APN
1716.16-93-8908 0109752
UPID
US53-2149418
Jurisdiction
WAKE
Zoning & alternative use
IX-3 · Raleigh, NCZoning 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
Zoning description
The IX-3 is intended to provide for a variety of light industrial and manufacturinguses while allowing for retail, service and commercial activity andlimited housing opportunities
Zone name
Industrial Mixed Use
General category
MIXED_USE
Zone area
4,634.30 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$545,000
COMMERCIAL (GENERAL)
Est. value
$780,000
MEDICAL BUILDING
Est. value
$755,000
AUTO REPAIR, GARAGE
Est. value
$710,000
WAREHOUSE, STORAGE
Est. value
$545,000
OFFICE BUILDING
Est. value
$470,000
RETAIL STORES Current
COMMERCIAL (GENERAL)
MEDICAL BUILDING
AUTO REPAIR, GARAGE
WAREHOUSE, STORAGE
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
1979
Construction
BRICK
Heating
CENTRAL
Cooling
Yes
Stories
1
Lot
0.68 ac
Current owner
From public records · entity-resolved
Mk Raleigh LLC
Entity
Free & Clear · 6 yrs held
Mailing address
6228 HEATHERSTONE DR, RALEIGH, NC 27606-8705
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 10, 2019
—
Mk Raleigh LLC
Maged El Shaikh
Grant Deed
related
—
Mar 20, 2019
$250,000
Khaled M A Qatanani
Shaikh,khalid F
Warranty Deed
—
Jan 12, 2015
—
Millston Food Mart INC
Shaikh,ahmad F
Grant Deed
related
—
Dec 2, 2013
—
Ahmad F Shaikh
Shaikh,fuad I
Quit Claim Deed
related
—
—
—
Overseas Ents INC
—
Deed Of Trust
related
$150,000 · 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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