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Property profile & analytics
OFF-MARKET
Estimated value
$1,050,000
Bars & Pubs
317 Morgan St 117 Raleigh, NC 27601-1567
Entity Owned
5-yr Hold
Free & Clear
Property ID
US53-1010278
Property profile
Verified
Property type
Bars & Pubs
Use group
NIGHTCLUB (COCKTAIL LOUNGE)
Year built
2005
Total area
2,211 SF
Zoning code
DX-12
APN
1703.25-58-5891 0400624
UPID
US53-1010278
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
$1.16M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.05M
Owner & transaction history
The Strawberry Group LLC · 5 yrs held
The Strawberry Group LLC
since 2021
Last sale
$940,000
2 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
Method
Estimation
Statistic approach
$1,165,000
ML approach
$1,155,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.05M
Range $945k – $1.16M · ±10% · vs last sale $940k (Jun 17 2021)
Last sale anchor
$940k
Jun 17 2021
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
$475 / 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
$5,874
Tax year 2023
Assessed value
$502,614
Assessed 2023
Previous assessed
$502,614
+0.0% YoY
Effective rate
1.17%
On assessed value
Assessed improvement
$502,614
Improvement market value
$502,614
Total market value
$502,614
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
Bars & Pubs
Use group
NIGHTCLUB (COCKTAIL LOUNGE)
Status
Off-Market
Year built
2005
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Total area
2,211 SF
Zoning code
DX-12
APN
1703.25-58-5891 0400624
UPID
US53-1010278
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
Current owner
From public records · entity-resolved
The Strawberry Group LLC
Entity
Free & Clear · 5 yrs held
Mailing address
1601 BEECHGROVE DR, RALEIGH, NC 27612-6802
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 17, 2021
$940,000
The Strawberry Group LLC
Elizabeth Masnik LLC
Special Warranty Deed
—
Dec 27, 2005
$273,000
Elizabeth Masnik LLC
Dawson Developers INC
Grant Deed
$530,000 · Business Loan Center INC
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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