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Property profile & analytics
OFF-MARKET
Retail space
317 Morgan St 111 Raleigh, NC 27601-1567
Individually Owned
11-yr Hold
~
Est. High Equity
Property ID
US53-5447601
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2005
Total area
530 SF
Lot
0.01 ac (436 SF)
Zoning code
DX-12
APN
1703.25-58-5891 0329097
UPID
US53-5447601
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
-
Sorry State Records (Bike/Boat/Book/etc) Store
-
CaWaSa (Bike/Boat/Book/etc) Store Corporate Office
-
Sparrow Law Firm Law Firm
-
Four Star Books Publishing House
-
Ship Guy Auto Transport Car Dealership Shipping Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
R Michelle Sparrow · 11 yrs held
R Michelle Sparrow
since 2015
5 recorded transactions
Zoning & alternative use
DX-12 · 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$1,481
Tax year 2023
Assessed value
$126,709
Assessed 2023
Previous assessed
$126,709
+0.0% YoY
Effective rate
1.17%
On assessed value
Assessed improvement
$126,709
Improvement market value
$126,709
Total market value
$126,709
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
2005
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Total area
530 SF
Lot
0.01 ac (436 SF)
Zoning code
DX-12
APN
1703.25-58-5891 0329097
UPID
US53-5447601
Jurisdiction
WAKE
Zoning & alternative use
DX-12 · Raleigh, NC
Zoning DX-12 · permitted uses
DX-12 · 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
2005
Heating
CENTRAL
Cooling
Yes
Stories
1
Lot
0.01 ac
Current owner
From public records · entity-resolved
R Michelle Sparrow
Individual
Mailing address
317 W MORGAN ST APT #111, RALEIGH, NC 27601-1567
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2015
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
May 5, 2015
—
R Michelle Sparrow
Andersen Ann-cabell B
Grant Deed
related
—
Mar 31, 2008
$232,000
Ann-cabell B Andersen
Dawson Developers INC
Grant Deed
—
Nov 30, 2007
$119,500
R Michelle Sparrow
Dawson Developers INC
Grant Deed
$100,000 · Wachovia Bank NA
—
—
R Michelle Sparrow
—
Deed Of Trust
related
$93,750 · Wells Fargo Bk
—
—
Dawson Developers LLC
—
Deed Of Trust
related
$2,500,000 · Wachovia 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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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