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Property profile & analytics
OFF-MARKET
Estimated value
$15,320,000
Hospitals
3000 New Bern Ave Raleigh, NC 27610-1215
Individually Owned
Free & Clear
Property ID
US53-1846904
Property profile
Verified
Property type
Hospitals
Use group
HOSPITAL - PRIVATE
Year built
1960
Total area
50,341 SF
Lot
38.98 ac (1,697,969 SF)
Zoning code
OX-7
APN
1724.17-20-2593 0230540
UPID
US53-1846904
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
-
E Tower Hospital Children's Hospital
-
Wake Med Health & Hospital: Young Matthew M MD Physician
-
WakeMed Raleigh Campus Emergency Room Hospital
-
Wake Med Health & Hospital: Tackman Anthony Joh MD Physician
-
WakeMed Raleigh Campus : WakeMed Neuropsychology Hospital
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$10.83M
Comparable Approach
Comparable
$20.11M
Blend (final)
Blend
$15.32M
Owner & transaction history
Chapter 115d Of General Statutes Of
Chapter 115d Of General Statutes Of
since 2025
3 recorded transactions
Zoning & alternative use
OX-7 · Raleigh, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$16.3M
+2.9%
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%
$11,735,000
6.5%
$10,830,000
7%
$10,060,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$15,875,000
Current use
COMMERCIAL (GENERAL)
$16,330,000
Change: +3% · Conversion: Easy
AUTO REPAIR, GARAGE
$14,845,000
Change: -7% · Conversion: Difficult
RETAIL STORES
$14,550,000
Change: -8% · Conversion: Difficult
Blend value · Realmo final
$15.32M
Range $13.79M – $16.85M · ±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
$304 / 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
$88,879
Tax year 2023
Assessed value
$500,432,199
Assessed 2023
Previous assessed
$500,432,199
+0.0% YoY
Effective rate
0.02%
On assessed value
Assessed land
$25,520,479
Assessed improvement
$474,911,720
Land market value
$25,520,479
Improvement market value
$474,911,720
Total market value
$500,432,199
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
Hospitals
Use group
HOSPITAL - PRIVATE
Status
Off-Market
Year built
1960
Heating
CENTRAL
Cooling
CENTRAL
Buildings
6
Stories
1
Units
515
Total area
50,341 SF
Lot
38.98 ac (1,697,969 SF)
Zoning code
OX-7
APN
1724.17-20-2593 0230540
UPID
US53-1846904
Jurisdiction
WAKE
Zoning & alternative use
OX-7 · Raleigh, NC
Zoning OX-7 · permitted uses
OX-7 · 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
MEDICAL BUILDING Current
Est. value
$15.9M
COMMERCIAL (GENERAL)
Est. value
$16.3M
AUTO REPAIR, GARAGE
Est. value
$14.8M
RETAIL STORES
Est. value
$14.6M
MEDICAL BUILDING Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
RETAIL STORES
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
1960
Heating
CENTRAL
Cooling
Yes
Stories
1
Buildings
6
Units
515
Lot
38.98 ac
Current owner
From public records · entity-resolved
Chapter 115d Of General Statutes Of
Individual
Free & Clear · 0 yrs held
Mailing address
3000 NEW BERN AVE, RALEIGH, NC 27610-1215
Mailing matches property
Yes
Owner-occupied
Yes
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 5, 2025
—
Chapter 115d Of General Statutes Of
Wakemed
Deed
—
Nov 17, 2020
$1,677,000
Wakemed Property Services
Morton Family Living Trust
Grant Deed
—
Jul 20, 2007
—
Wakeridge LLC
—
Grant Deed
related
$3,128,274 · Suntrust Bank NA
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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