Entity Owned 
For Lease
1 / 8
$6,540,000
3051 New Bern Ave, Raleigh, NC 27610
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Property profile
Verified
Property type
Drug stores
Use group
DRUG STORE, PHARMACY
Year built
2000
Construction
BRICK
Total area
9,735 SF
Lot
1.98 ac (86,249 SF)
Zoning code
CX-4
APN
1724.17-11-9832 0268353
UPID
US53-2131982
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Pharmacy
-
Pharmacy
-
Pharmacy
-
Atm
-
Grocery & Convenience Store
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$6.88M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$4.44M
Blend (final)
Blend
$6.54M
Owner & transaction history
since 2021
Last sale
$5.3M
1 recorded transaction
Zoning & alternative use
CX-4 · Raleigh, NC
Zoning description
The CX-4 is intended to provide for a variety of residential, retail, service andcommercial uses
General category
MIXED_USE
Top alternative use upside
Neighborhood: shopping center
$5.4M
+90.6%
Restaurant
$5.3M
+88.1%
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
All 6 comparables with addresses
2 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
PDF export
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Summary
1
Valuation conclusion
Included free
Estimated market value
$6.54M
Value range
$5.89M – $7.19M
±10% around blend
Estimated value / SF
$672 / SF
Confidence
High
6 county-verified comps
Property data
100
Market benchmarks
100
Comparable evidence
60
$5.89M
blend $6.54M
$7.19M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
9,735 SF
Lot area
1.98 ac
Year built
2000
Stories
1
APN
1724.17-11-9832 0268353
Zoning
CX-4
Assessed value
$3,743,426
Annual tax
$40,803
3
Income approach: direct capitalization
Partial preview
Not enough income data on file for a CAP-approach estimation.
4
Sales comparison
Partial preview
Sales approach indication
$2.19M
Weighted, 6 comps · high confidence
Evidence
6 found · 6 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
10.9 mi away · 7,040 SF
12.7 mi away · 8,644 SF
21.8 mi away · 10,203 SF
24.4 mi away · 6,900 SF
24.8 mi away · 11,421 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$6.54M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 25 sales
$289
+132%
Submarket 174 sales
$393
+71%
County 376 sales
$316
+112%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $672/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Neighborhood: Shopping Center
Gross theoretical uplift
+91%
vs current-use indication
Restaurant
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Not available
Market rent
Not available
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: replacement-cost inputs are not on file.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 6 sales
Market rates by use type
PDF export
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Overview
Implied cap rate
2.60%
Implied, in-place cap rate for this drug stores
Estimated NOI ÷ last recorded sale. Refine with your own numbers in the full report.
NOI (est.)
$370k *
Last sale · Dec 2021
$5.28M
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$14.21M
Move the market yield to see immediate price impact.
Value / SF
$1,460
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
2.10%2.60%3.10%
$333k
$15.84M
$12.79M
$10.73M
$370k
$17.60M
$14.21M
$11.92M
$407k
$19.36M
$15.64M
$13.11M
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
6 found
High confidence · county-verified
Closest comparable
$1.81M
5.7 mi · Mar 2026 · $230/SF
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$40,803
Tax year 2023
Assessed value
$3,743,426
Assessed 2023
Previous assessed
$3,743,426
+0.0% YoY
Effective rate
1.09%
On assessed value
Assessed land
$908,869
Assessed improvement
$2,834,557
Land market value
$908,869
Improvement market value
$2,834,557
Total market value
$3,743,426
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Drug stores
Use group
DRUG STORE, PHARMACY
Status
For Lease
Year built
2000
Construction
BRICK
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Total area
9,735 SF
Lot
1.98 ac (86,249 SF)
Zoning code
CX-4
APN
1724.17-11-9832 0268353
UPID
US53-2131982
Jurisdiction
WAKE
Zoning & alternative use
CX-4 · Raleigh, NCZoning CX-4 · permitted uses
CX-4 · Raleigh, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Zoning description
The CX-4 is intended to provide for a variety of residential, retail, service andcommercial uses
General category
MIXED_USE
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
2000
Construction
BRICK
Heating
CENTRAL
Cooling
Yes
Stories
1
Lot
1.98 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Matched to the official district catalog
CX-4
MIXED_USE
Jurisdiction
Raleigh, NC
Recorded code
CX-4
Official district
CX-4
Official district profile
What the municipal code says about CX-4
Zoning description
The CX-4 is intended to provide for a variety of residential, retail, service andcommercial uses
General category
MIXED_USE
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for CX-4 in Raleigh, NC.
What opens after registration
Zoning profile
Official descriptionThe district text from the municipal code
District factsZone name, category and district area
3 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
One complete report on every paid plan · 30 · 300 reports per month.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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