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Property profile & analytics
OFF-MARKET
Estimated value
$3,310,000
Automotive properties
2419 Atlantic Ave Raleigh, NC 27604-1409
Entity Owned
3-yr Hold
Free & Clear
Property ID
US53-1780866
Property profile
Verified
Property type
Automotive properties
Use group
VEHICLE SALES, RENTALS
Year built
1973
Total area
17,312 SF
Lot
1.27 ac (55,321 SF)
Zoning code
IX-3
APN
1715.18-21-9023 0110749
UPID
US53-1780866
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
-
Elegant Brush Painting Service General Contractor
-
Raleigh Concrete Contractors Inc Construction Company General Contractor
-
Tidwater Gutters 2 Hardware & Home Improvement General Contractor
-
Elegant Remodeling and Construction Services Hardware & Home Improvement Kitchen & Bath Showroom
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$4.16M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.69M
Blend (final)
Blend
$3.31M
Owner & transaction history
Zonkd INC · 3 yrs held
Zonkd INC
since 2023
Last sale
$3.0M
2 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
Medical building
$5.5M
+7.0%
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
$3,720,000
ML approach
$4,155,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$5,105,000
Current use
MEDICAL BUILDING
$5,460,000
Change: +7% · Conversion: Difficult
Blend value · Realmo final
$3.31M
Range $2.98M – $3.64M · ±10% · vs last sale $3.00M (Dec 8 2021)
Last sale anchor
$3.00M
Dec 8 2021
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
$191 / 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
$14,860
Tax year 2023
Assessed value
$1,363,343
Assessed 2023
Previous assessed
$1,363,343
+0.0% YoY
Effective rate
1.09%
On assessed value
Assessed land
$662,192
Assessed improvement
$701,151
Land market value
$662,192
Improvement market value
$701,151
Total market value
$1,363,343
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
Automotive properties
Use group
VEHICLE SALES, RENTALS
Status
Off-Market
Year built
1973
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Total area
17,312 SF
Lot
1.27 ac (55,321 SF)
Zoning code
IX-3
APN
1715.18-21-9023 0110749
UPID
US53-1780866
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
AUTO REPAIR, GARAGE Current
Est. value
$5.1M
MEDICAL BUILDING
Est. value
$5.5M
AUTO REPAIR, GARAGE Current
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
1973
Heating
CENTRAL
Cooling
Yes
Stories
1
Lot
1.27 ac
Current owner
From public records · entity-resolved
Zonkd INC
Entity
Free & Clear · 3 yrs held
Mailing address
2419 ATLANTIC AVE, RALEIGH, NC 27604-1409
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 5, 2023
—
Zonkd INC
Sound Eight LLC
Assignment Of Lease (leasehold Sale)
—
Dec 8, 2021
$3,000,000
Sound Eight LLC
Mary P Lovelace
Special Warranty Deed
$5,168,000 · Cogent Bank
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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