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Property profile & analytics
OFF-MARKET
Estimated value
$875,000
Medical Office Space
3500 Bush St 102, Raleigh, NC 27609-7509
Entity Owned
13-yr Hold
~
Est. High Equity
Property ID
US53-1372479
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1998
Construction
BRICK
Total area
3,455 SF
Lot
0.01 ac (436 SF)
Zoning code
IX-3
APN
1715.10-46-9601 0255608
UPID
US53-1372479
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
-
Christie Heather L MD Pediatrician Physician
-
Cameron Hardee, ANP Physician
-
Abigail Lancaster Pediatrician Physician
-
Andrew Drabick Pediatrician Physician
-
Meryl Coyle-Johnston Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$825k
Comparable Approach
Comparable
$1.06M
Blend (final)
Blend
$875k
Owner & transaction history
Bush Medical LLC · 13 yrs held
Bush Medical LLC
since 2013
1 recorded transaction
Zoning & alternative use
IX-3 · Raleigh, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.4M
+58.6%
Commercial (general)
$1.1M
+30.9%
Auto repair, garage
$1.0M
+19.0%
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%
$890,000
6.5%
$825,000
7%
$765,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$855,000
Current use
RETAIL STORES
$1,360,000
Change: +59% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,120,000
Change: +31% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,020,000
Change: +19% · Conversion: Difficult
WAREHOUSE, STORAGE
$780,000
Change: -9% · Conversion: Difficult
Blend value · Realmo final
$875k
Range $788k – $963k · ±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
$253 / 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
$8,029
Tax year 2023
Assessed value
$736,590
Assessed 2023
Previous assessed
$736,590
+0.0% YoY
Effective rate
1.09%
On assessed value
Assessed improvement
$736,590
Improvement market value
$736,590
Total market value
$736,590
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1998
Construction
BRICK
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Total area
3,455 SF
Lot
0.01 ac (436 SF)
Zoning code
IX-3
APN
1715.10-46-9601 0255608
UPID
US53-1372479
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
MEDICAL BUILDING Current
Est. value
$855,000
RETAIL STORES
Est. value
$1.4M
COMMERCIAL (GENERAL)
Est. value
$1.1M
AUTO REPAIR, GARAGE
Est. value
$1.0M
WAREHOUSE, STORAGE
Est. value
$780,000
MEDICAL BUILDING Current
RETAIL STORES
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
WAREHOUSE, STORAGE
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
1998
Construction
BRICK
Heating
CENTRAL
Cooling
Yes
Stories
1
Lot
0.01 ac
Current owner
From public records · entity-resolved
Bush Medical LLC
Entity
Mailing address
3500 BUSH ST, RALEIGH, NC 27609-7509
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2013
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 21, 2013
—
Bush Medical LLC
—
Deed Of Trust
related
$1,990,000 · Suntrust 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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