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Property profile & analytics
OFF-MARKET
Estimated value
$7,530,000
Warehouses
3216 Spottswood St, Raleigh, NC 27615-4187
Entity Owned
1-yr Hold
Free & Clear
Property ID
US53-5648860
Property summary
AI-generated overview
This exceptional industrial property at 3216 Spottswood Street offers 24,400 square feet of warehouse space for lease. The building is currently fully vacant, presenting a unique opportunity for a single tenant to occupy the entire space or for multiple tenants to lease individual suites. Two suites are available, with a minimum divisible space of 9,800 square feet and a maximum contiguous space of 24,400 square feet. The warehouse boasts impressive features including a 25-foot ceiling height, providing ample vertical storage capacity. Convenient loading and unloading is ensured with three dock-high doors and four drive-in doors, facilitating efficient material handling. This property is ideally suited for businesses requiring substantial storage and easy access for large vehicles. Its versatile layout and significant square footage make it an attractive option for a wide range of industrial operations. The property's location offers excellent accessibility and visibility, making it a prime location for businesses seeking a strategic advantage. Contact us today to schedule a viewing and explore the possibilities this exceptional warehouse space offers.
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1994
Total area
51,304 SF
Lot
2.8 ac (121,968 SF)
Zoning code
IX-3
APN
1727.06-48-4672 0085546
UPID
US53-5648860
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
-
Servpro Construction Company General Contractor
-
Integrity Auto Care at Torque Automotive Auto Repair Shop
-
The Hybrid Geek Auto Repair Shop Vehicle Inspection Center
-
Torque Automotive Auto Repair Shop
-
SERVPRO of North Raleigh & Wake Forest Cleaners Commercial Cleaning Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$6.97M
Comparable Approach
Comparable
$7.52M
Blend (final)
Blend
$7.53M
Owner & transaction history
Tl Lincoln Park North Property Owne · 1 yrs held
Tl Lincoln Park North Property Owne
since 2025
7 recorded transactions
Zoning & alternative use
IX-3 · 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%
$7,555,000
6.5%
$6,970,000
7%
$6,475,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$11,570,000
Current use
Blend value · Realmo final
$7.53M
Range $6.78M – $8.28M · ±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
$147 / 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
$35,213
Tax year 2023
Assessed value
$3,230,579
Assessed 2023
Previous assessed
$3,230,579
+0.0% YoY
Effective rate
1.09%
On assessed value
Assessed land
$603,742
Assessed improvement
$2,626,837
Land market value
$603,742
Improvement market value
$2,626,837
Total market value
$3,230,579
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1994
Heating
SPACE
Cooling
CENTRAL
Stories
1
Total area
51,304 SF
Lot
2.8 ac (121,968 SF)
Zoning code
IX-3
APN
1727.06-48-4672 0085546
UPID
US53-5648860
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
WAREHOUSE, STORAGE Current
Est. value
$11.6M
WAREHOUSE, STORAGE Current
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
1994
Heating
SPACE
Cooling
Yes
Stories
1
Lot
2.8 ac
Current owner
From public records · entity-resolved
Tl Lincoln Park North Property Owne
Entity
Free & Clear · 1 yrs held
Mailing address
3843 W CHESTER PIKE, NEWTOWN SQUARE, PA 19073-2304
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 26, 2025
—
Tl Lincoln Park North Property Owne
Rdu Lincoln Park South Property Own
Special Warranty Deed
—
Apr 20, 2021
—
Rdu Lincoln Pk N Prop Owner LP
—
Deed
related
$299,253,500 · Goldman Sachs Bk USA
Apr 12, 2021
—
Rdu Lincoln Pk N Prop Owner LP
Lincoln Pk N Prop Owner LLC
Quit Claim Deed
related
—
Jul 18, 2018
$54,000,000
Lincoln Pk N Prop Owner LLC
Raleigh Portfolio Nw-lpn LLC
Grant Deed
$199,000 · Capital One NA
Jul 7, 2016
—
Raleigh Portfolio Nw-lpn LLC
Raleigh Portfolio Nw LLC
Quit Claim Deed
related
$30,500,000 · Fifth Third Bk
Jan 18, 2006
$29,630,000
Raleigh Portfolio Nw LLC
Parker-raleigh Dev I
Grant Deed
related
—
—
—
Rdu Lincoln Pk N Prop Owner LP
—
Deed Of Trust
related
$299,253,500 · Goldman Sachs Bk USA
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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