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Property profile & analytics
OFF-MARKET
Estimated value
$5,340,000
Auto shops
2734 Wilmington St, Raleigh, NC 27603-2552
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US53-5594806
Property profile
Verified
Property type
Auto shops
Use group
AUTO REPAIR, GARAGE
Year built
1996
Construction
METAL FRAME
Total area
7,800 SF
Lot
0.79 ac (34,412 SF)
Zoning code
CX-3
APN
1702.10-46-7270 0012431
UPID
US53-5594806
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
-
Hertz Car Rental Car Rental Facility
-
Auto Body 911 Auto Repair Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$5.77M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$5.34M
Owner & transaction history
Parkland Redevelopment LLC · 3 yrs held
Parkland Redevelopment LLC
since 2022
Last sale
$5.0M
6 recorded transactions
Zoning & alternative use
CX-3 · Raleigh, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$4.3M
+88.9%
Neighborhood: shopping center
$4.3M
+86.9%
Restaurant
$4.2M
+84.4%
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
$5,630,000
ML approach
$5,770,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$4,345,000
Change: +89% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$4,300,000
Change: +87% · Conversion: Difficult
RESTAURANT
$4,240,000
Change: +84% · Conversion: Difficult
Blend value · Realmo final
$5.34M
Range $4.81M – $5.87M · ±10% · vs last sale $4.98M (Sep 1 2022)
Last sale anchor
$4.98M
Sep 1 2022
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
$685 / 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
$10,383
Tax year 2023
Assessed value
$952,558
Assessed 2023
Previous assessed
$952,558
+0.0% YoY
Effective rate
1.09%
On assessed value
Assessed land
$207,504
Assessed improvement
$745,054
Land market value
$207,504
Improvement market value
$745,054
Total market value
$952,558
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
Auto shops
Use group
AUTO REPAIR, GARAGE
Status
Off-Market
Year built
1996
Construction
METAL FRAME
Heating
SPACE
Cooling
CENTRAL
Stories
1
Total area
7,800 SF
Lot
0.79 ac (34,412 SF)
Zoning code
CX-3
APN
1702.10-46-7270 0012431
UPID
US53-5594806
Jurisdiction
WAKE
Zoning & alternative use
CX-3 · Raleigh, NC
Zoning 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
Raleigh. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES
Est. value
$4.3M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$4.3M
RESTAURANT
Est. value
$4.2M
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
RESTAURANT
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
1996
Construction
METAL FRAME
Heating
SPACE
Cooling
Yes
Stories
1
Lot
0.79 ac
Current owner
From public records · entity-resolved
Parkland Redevelopment LLC
Entity
Mailing address
PO BOX 6309, RALEIGH, NC 27628-6309
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 1, 2022
$13,133,500
Parkland Redevelopment LLC
Citadel Automotive Group INC
Special Warranty Deed
$8,625,000 · Providence Bank
Apr 30, 2008
$800,000
Citadel Automotive Group INC
Honeycutt LLC
Warranty Deed
—
—
—
Otis L Honeycutt III
—
Deed Of Trust
related
$50,000 · First Charter Bank
—
—
Honeycutt LLC
—
Deed Of Trust
related
$485,733 · First Charter Bank
—
—
Honeycutt LLC
—
Deed Of Trust
related
$48,956 · First Charter Bank
—
—
Otis L Honeycutt III
—
Deed Of Trust
related
$520,000 · First Charter 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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