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Property profile & analytics
OFF-MARKET
Estimated value
$7,275,000
Office buildings
3201 Spg Frst Rd, Raleigh, NC 27616-2821
Entity Owned
~
Est. High Equity
Property ID
US53-1971022
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1983
Construction
CONCRETE BLOCKS
Total area
31,230 SF
Lot
9.42 ac (410,335 SF)
Zoning code
IX-3
APN
1726.09-26-3808 0124566
UPID
US53-1971022
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
-
S&ME Engineering Consultant Consultant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$7.87M
Comparable Approach
Comparable
$8.10M
Blend (final)
Blend
$7.28M
Owner & transaction history
Spring Forest Holdings LLC
Spring Forest Holdings LLC
since 2026
3 recorded transactions
Zoning & alternative use
IX-3 · Raleigh, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$10.1M
+66.3%
Medical building
$9.9M
+61.7%
Auto repair, garage
$9.2M
+51.1%
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%
$8,525,000
6.5%
$7,865,000
7%
$7,305,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$6,095,000
Current use
COMMERCIAL (GENERAL)
$10,130,000
Change: +66% · Conversion: Easy
MEDICAL BUILDING
$9,850,000
Change: +62% · Conversion: Easy
AUTO REPAIR, GARAGE
$9,210,000
Change: +51% · Conversion: Difficult
Blend value · Realmo final
$7.28M
Range $6.55M – $8.00M · ±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
$233 / 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
$72,105
Tax year 2023
Assessed value
$6,615,158
Assessed 2023
Previous assessed
$6,615,158
+0.0% YoY
Effective rate
1.09%
On assessed value
Assessed land
$3,484,360
Assessed improvement
$3,130,798
Land market value
$3,484,360
Improvement market value
$3,130,798
Total market value
$6,615,158
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1983
Construction
CONCRETE BLOCKS
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Total area
31,230 SF
Lot
9.42 ac (410,335 SF)
Zoning code
IX-3
APN
1726.09-26-3808 0124566
UPID
US53-1971022
Jurisdiction
WAKE
Zoning & alternative use
IX-3 · Raleigh, NC
Zoning IX-3 · permitted uses
IX-3 · 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
OFFICE BUILDING Current
Est. value
$6.1M
COMMERCIAL (GENERAL)
Est. value
$10.1M
MEDICAL BUILDING
Est. value
$9.9M
AUTO REPAIR, GARAGE
Est. value
$9.2M
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
MEDICAL BUILDING
AUTO REPAIR, GARAGE
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
1983
Construction
CONCRETE BLOCKS
Heating
CENTRAL
Cooling
Yes
Stories
1
Lot
9.42 ac
Current owner
From public records · entity-resolved
Spring Forest Holdings LLC
Entity
Mailing address
395 9TH AVE FL #58, NEW YORK, NY 10001-8600
Ownership since
2026
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
Feb 24, 2026
$8,743,000
Spring Forest Holdings LLC
Spring Forest Road Nc LLC
Special Warranty Deed
$6,994,000 · Pnc Bank NA
Nov 6, 2023
—
Spring Forest Road Nc LLC
—
Deed
related
$335,000,000 · Jpmorgan Chase Bank NA
Sep 21, 2023
—
Spring Forest Road Nc LLC
Corporate Property Associates 6
Special Warranty Deed
—
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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