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Property profile & analytics
OFF-MARKET
Garden apartment buildings
2721 Millbrook Vlg Pl, Raleigh, NC 27604-2946
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US53-2076863
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
2007
Construction
FRAME
Total area
13,650 SF
Lot
19.85 ac (864,666 SF)
Zoning code
RX-3
APN
1726.13-13-9558 0348094
UPID
US53-2076863
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
North Hills Nrde LLC · 3 yrs held
North Hills Nrde LLC
since 2022
Last sale
$72.4M
7 recorded transactions
Zoning & alternative use
RX-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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$413,615
Tax year 2023
Assessed value
$37,434,432
Assessed 2023
Previous assessed
$37,434,432
+0.0% YoY
Effective rate
1.10%
On assessed value
Assessed land
$6,835,500
Assessed improvement
$30,598,932
Land market value
$6,835,500
Improvement market value
$30,598,932
Total market value
$37,434,432
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
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Status
Off-Market
Year built
2007
Construction
FRAME
Heating
CENTRAL
Cooling
CENTRAL
Buildings
2
Stories
3
Units
12
Total area
13,650 SF
Lot
19.85 ac (864,666 SF)
Zoning code
RX-3
APN
1726.13-13-9558 0348094
UPID
US53-2076863
Jurisdiction
WAKE
Zoning & alternative use
RX-3 · Raleigh, NC
Zoning RX-3 · permitted uses
RX-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
2007
Construction
FRAME
Heating
CENTRAL
Cooling
Yes
Stories
3
Buildings
2
Units
12
Lot
19.85 ac
Current owner
From public records · entity-resolved
North Hills Nrde LLC
Entity
Mailing address
11820 S STATE ST STE #310, DRAPER, UT 84020-7170
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 22, 2022
—
North Hills Nrde LLC
Uncommon Raleigh Owner LLC
Special Warranty Deed
$7,495,000 · Pnc Bank NA
Oct 7, 2019
—
Uncommon Raleigh Owner LLC
Uncommon Raleigh LLC
Quit Claim Deed
related
—
Oct 1, 2019
—
Uncommon Raleigh Owner LLC
Uncommon Raleigh LLC
Quit Claim Deed
related
$27,125,000 · Pnc Bk
Mar 26, 2019
—
Uncommon Raleigh LLC
—
Deed
related
$25,000,000 · Pnc Bk
Jun 12, 2018
$1,150,000
Siro North Hills LLC
Millbrook 276 LLC
Grant Deed
—
Nov 6, 2015
$29,700,000
Millbrook 276 LLC
Kpclic LLC
Grant Deed
$761,940 · * Other Institutional Lenders
Feb 24, 2006
—
Kpclic LLC
Kerr Properties LLC
Grant Deed
$18,000,000 · Wachovia Bank NA
Jul 1, 2002
—
Kerr Properties LLC Et Al
Kerr Properties
Quit Claim Deed
related
—
Aug 4, 2000
—
Banks D Et Al Kerr
—
Deed Of Trust
related
—
—
—
Uncommon Raleigh LLC
—
Loan Modification
related
$25,000,000 · Pnc Bk
—
—
Kpclic LLC
—
Deed Of Trust
related
$17,429,000 · Centerline Mortgage Capital
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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