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Property profile & analytics
OFF-MARKET
Estimated value
$15,455,000
Strip malls
2431 Spg Frst Rd Raleigh, NC 27615-7549
Entity Owned
10-yr Hold
Free & Clear
Property ID
US53-0118469
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1988
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
93,940 SF
Lot
9.26 ac (403,366 SF)
Zoning code
CX-3
APN
1716.08-98-1713 0021350
UPID
US53-0118469
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
-
LA BEAUTE NAIL 2 Nail Salon
-
Shanghai Tailors (Bike/Boat/Book/etc) Store
-
Evans Martial Arts Gym & Fitness Center
-
Research Triangle College of Health Sciences & Technology College
-
NCDMV Driver License Office Driver'S License Office Department Of Motor Vehicles
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$15.46M
Owner & transaction history
Amerco Real Estate Co · 10 yrs held
Amerco Real Estate Co
since 2016
3 recorded transactions
Zoning & alternative use
CX-3 · Raleigh, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The CX-3 is intended to provide for a variety of residential, retail, service andcommercial uses
Zone name
Commercial Mixed Use
General category
MIXED_USE
Zone area
722.48 ac
Source
Realmo
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$165 / 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
$72,233
Tax year 2023
Assessed value
$6,626,892
Assessed 2023
Previous assessed
$6,626,892
+0.0% YoY
Effective rate
1.09%
On assessed value
Assessed land
$3,657,521
Assessed improvement
$2,969,371
Land market value
$3,657,521
Improvement market value
$2,969,371
Total market value
$6,626,892
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1988
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Total area
93,940 SF
Lot
9.26 ac (403,366 SF)
Zoning code
CX-3
APN
1716.08-98-1713 0021350
UPID
US53-0118469
Jurisdiction
WAKE
Zoning & alternative use
CX-3 · Raleigh, NCZoning 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
Zoning description
The CX-3 is intended to provide for a variety of residential, retail, service andcommercial uses
Zone name
Commercial Mixed Use
General category
MIXED_USE
Zone area
722.48 ac
Source
Realmo
Building & site characteristics
From public records
Year built
1988
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
Yes
Stories
1
Lot
9.26 ac
Current owner
From public records · entity-resolved
Amerco Real Estate Co
Entity
Free & Clear · 10 yrs held
Mailing address
PO BOX 29046, PHOENIX, AZ 85038-9046
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 8, 2016
$3,200,000
Amerco Real Estate Co
2431 Spring Forest Road Holdin
Grant Deed
—
Nov 19, 2014
$4,600,000
Spring Forest Road Holdin 2431
Trachtman James B|midatlantic Devs LLC
Trustees Deed
—
Nov 5, 2004
$6,750,000
Midatlantic Dev LLC
Parker-raleigh Dev Xxiii
Grant Deed
$5,880,000 · Morgan Stanley Mtg Capital INC
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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