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Property profile & analytics
OFF-MARKET
Estimated value
$5,935,000
Retail space
2900 Spg Frst Rd Raleigh, NC 27616-1895
Entity Owned
~
Est. High Equity
Property ID
US53-5497162
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1997
Construction
CONCRETE BLOCKS
Total area
23,736 SF
Lot
2.05 ac (89,298 SF)
Zoning code
IX-3
APN
1726.09-16-1357 0185266
UPID
US53-5497162
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
-
Terrance Palmer - The Razor Lounge Barber Shop
-
David's Hair Design Hair Salon
-
Stromboli's Express Restaurant
-
Healthy Spring Forest Restaurant
-
Barbelt Warriors Academy Elite Karate Sports School
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$5.04M
CAP Approach
CAP
$6.48M
Comparable Approach
Comparable
$4.85M
Blend (final)
Blend
$5.94M
Owner & transaction history
Scg Spring Forest LLC
Scg Spring Forest LLC
since 2025
Last sale
$7.1M
5 recorded transactions
Zoning & alternative use
IX-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
Method
Estimation
Statistic approach
$5,040,000
ML approach
$5,040,000
CAP Approach
CAP Return
Estimation
6%
$7,020,000
6.5%
$6,480,000
7%
$6,015,000
Alternative Use
Use
Estimation
RETAIL STORES
$9,325,000
Current use
COMMERCIAL (GENERAL)
$7,700,000
Change: -17% · Conversion: Easy
MEDICAL BUILDING
$7,485,000
Change: -20% · Conversion: Difficult
Blend value · Realmo final
$5.94M
Range $5.34M – $6.53M · ±10% · vs last sale $7.10M (May 1 2025)
Last sale anchor
$7.10M
May 1 2025
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
$250 / 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
$29,915
Tax year 2023
Assessed value
$2,744,483
Assessed 2023
Previous assessed
$2,744,483
+0.0% YoY
Effective rate
1.09%
On assessed value
Assessed land
$715,277
Assessed improvement
$2,029,206
Land market value
$715,277
Improvement market value
$2,029,206
Total market value
$2,744,483
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1997
Construction
CONCRETE BLOCKS
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Total area
23,736 SF
Lot
2.05 ac (89,298 SF)
Zoning code
IX-3
APN
1726.09-16-1357 0185266
UPID
US53-5497162
Jurisdiction
WAKE
Zoning & alternative use
IX-3 · Raleigh, NC
Zoning 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
Raleigh. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$9.3M
COMMERCIAL (GENERAL)
Est. value
$7.7M
MEDICAL BUILDING
Est. value
$7.5M
RETAIL STORES Current
COMMERCIAL (GENERAL)
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
1997
Construction
CONCRETE BLOCKS
Heating
CENTRAL
Cooling
Yes
Stories
1
Lot
2.05 ac
Current owner
From public records · entity-resolved
Scg Spring Forest LLC
Entity
Mailing address
2608 VLG MNR WAY, RALEIGH, NC 27614-8097
Ownership since
2025
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
Aug 1, 2025
$7,100,000
Scg Spring Forest LLC
Spring Forest 2024 LLC
Special Warranty Deed
—
Jun 13, 2024
$5,038,000
Spring Forest 2024 LLC
Springwood Forest LLC
Special Warranty Deed
$3,750,000 · Atlantic Union Bank
Jan 9, 2018
—
Springwood Forest LLC
—
Deed
related
$1,820,500 · North St Bk
Jan 11, 2008
$3,800,000
Springwood Forest LLC
Ksc Ford Family
Warranty Deed
$1,630,000 · Ksc Ford Family LP
—
—
Springwood Forest LLC
—
Deed Of Trust
related
$1,820,500 · North St Bk
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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