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Property profile & analytics
FOR SALE
Warehouses
2905 Industrial Dr, Raleigh, NC 27609
Entity Owned
9-yr Hold
~
Est. High Equity
Property ID
US53-1143486
For Sale
1 / 11
$2,090,000
2905 Industrial Dr, Raleigh, NC 27609
View Listing →
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2002
Construction
METAL FRAME
Total area
22,317 SF
Lot
1.08 ac (47,045 SF)
Zoning code
IX-3
APN
1715.14-23-7419 0278493
UPID
US53-1143486
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
-
NAPA Auto Parts Auto Parts Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.67M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.09M
Owner & transaction history
Was Ventures LLC · 9 yrs held
Was Ventures LLC
since 2017
4 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$2,890,000
6.5%
$2,670,000
7%
$2,480,000
Blend value · Realmo final
$2.09M
Range $1.88M – $2.30M · ±10%
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
$94 / 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
$17,656
Tax year 2023
Assessed value
$1,619,798
Assessed 2023
Previous assessed
$1,619,798
+0.0% YoY
Effective rate
1.09%
On assessed value
Assessed land
$423,405
Assessed improvement
$1,196,393
Land market value
$423,405
Improvement market value
$1,196,393
Total market value
$1,619,798
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
For Sale
Year built
2002
Construction
METAL FRAME
Heating
SPACE
Cooling
CENTRAL
Stories
1
Total area
22,317 SF
Lot
1.08 ac (47,045 SF)
Zoning code
IX-3
APN
1715.14-23-7419 0278493
UPID
US53-1143486
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.
Building & site characteristics
From public records
Year built
2002
Construction
METAL FRAME
Heating
SPACE
Cooling
Yes
Stories
1
Lot
1.08 ac
Current owner
From public records · entity-resolved
Was Ventures LLC
Entity
Mailing address
705 E 6TH FRKS RD, RALEIGH, NC 27609-7831
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 1, 2020
—
Wan Ventures LLC
—
Deed
related
$2,169,457 · Truist Bank
Jun 29, 2017
$1,700,000
Was Ventures LLC
Cm & Dm Properties LLC
Warranty Deed
$2,082,500 · Branch Bk&tr
Aug 1, 2007
—
Cm & Dm Properties LLC
Melhinch Properties LLC
Warranty Deed
$4,750,000 · Ncb Savings Bank
—
—
Melhinch Properties LLC
—
Deed Of Trust
related
$488,750 · Rbc Centura 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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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