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Property profile & analytics
OFF-MARKET
Estimated value
$6,600,000
Medical Office Space
3031 New Bern Ave, Raleigh, NC 27610-2988
Entity Owned
19-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US53-1423141
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2008
Construction
BRICK
Total area
35,557 SF
Lot
2.67 ac (116,305 SF)
Zoning code
OX-4
APN
1724.17-11-6964 0268354
UPID
US53-1423141
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
-
Yolanda Smith Physician
-
Rosanne Harnois Physician
-
Vanessa Deese Physician
-
Manuel Contreras Orthotics & Prosthetics Service
-
Steven R. Few, CP Pediatrician Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$7.65M
Comparable Approach
Comparable
$5.61M
Blend (final)
Blend
$6.60M
Owner & transaction history
Wake Plaza Associates LLC · 19 yrs held
Wake Plaza Associates LLC
since 2007
6 recorded transactions
Zoning & alternative use
OX-4 · 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%
$8,290,000
6.5%
$7,650,000
7%
$7,105,000
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$10,485,000
Change: -7% · Conversion: Difficult
RETAIL STORES
$10,280,000
Change: -8% · Conversion: Difficult
Blend value · Realmo final
$6.60M
Range $5.94M – $7.26M · ±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
$186 / 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
$86,798
Tax year 2023
Assessed value
$7,963,080
Assessed 2023
Previous assessed
$7,963,080
+0.0% YoY
Effective rate
1.09%
On assessed value
Assessed land
$1,360,769
Assessed improvement
$6,602,311
Land market value
$1,360,769
Improvement market value
$6,602,311
Total market value
$7,963,080
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
2008
Construction
BRICK
Heating
CENTRAL
Cooling
CENTRAL
Stories
3
Total area
35,557 SF
Lot
2.67 ac (116,305 SF)
Zoning code
OX-4
APN
1724.17-11-6964 0268354
UPID
US53-1423141
Jurisdiction
WAKE
Zoning & alternative use
OX-4 · Raleigh, NC
Zoning OX-4 · permitted uses
OX-4 · 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
AUTO REPAIR, GARAGE
Est. value
$10.5M
RETAIL STORES
Est. value
$10.3M
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
2008
Construction
BRICK
Heating
CENTRAL
Cooling
Yes
Stories
3
Lot
2.67 ac
Current owner
From public records · entity-resolved
Wake Plaza Associates LLC
Entity
Mailing address
790 SE CARY PKWY STE #101, CARY, NC 27511-5678
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2007
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 27, 2018
—
Wake Plaza Associates LLC
—
Deed
related
$4,300,000 · United Cmnty Bk Nc
Nov 28, 2007
—
Wake Plaza Associates LLC
—
Trustees Deed
related
$5,414,000 · First Citizens Bank & Trust Co
Apr 5, 2007
$1,100,000
Wake Plaza Associates LLC
New Bern Crossing LLC
Warranty Deed
$500,000 · Crescent State Bank
—
—
Wake Plaza Associates LLC
—
Deed Of Trust
related
$740,000 · First Citizens Bank & Trust Co
—
—
Wake Plaza Associates LLC
—
Deed Of Trust
related
$4,300,000 · United Cmnty Bk Nc
—
—
Wake Plaza Associates LLC
—
Deed Of Trust
related
$5,765,000 · Crescent State 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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