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Property profile & analytics
OFF-MARKET
Estimated value
$5,405,000
Strip malls
3514 Wade Ave, Raleigh, NC 27607-4048
Entity Owned
7-yr Hold
Free & Clear
Property ID
US53-1199468
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1951
Construction
BRICK
Total area
42,996 SF
Lot
9.86 ac (429,502 SF)
Zoning code
CX-3
APN
0794.10-37-2031 0015220
UPID
US53-1199468
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$5.41M
Owner & transaction history
Columbia II Ridgewood LLC · 7 yrs held
Columbia II Ridgewood LLC
since 2018
6 recorded transactions
Zoning & alternative use
CX-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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$126 / 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
$267,381
Tax year 2023
Assessed value
$24,530,343
Assessed 2023
Previous assessed
$24,530,343
+0.0% YoY
Effective rate
1.09%
On assessed value
Assessed land
$5,914,243
Assessed improvement
$18,616,100
Land market value
$5,914,243
Improvement market value
$18,616,100
Total market value
$24,530,343
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1951
Construction
BRICK
Heating
CENTRAL
Cooling
CENTRAL
Buildings
5
Stories
1
Bathrooms
6
Total area
42,996 SF
Lot
9.86 ac (429,502 SF)
Zoning code
CX-3
APN
0794.10-37-2031 0015220
UPID
US53-1199468
Jurisdiction
WAKE
Zoning & alternative use
CX-3 · Raleigh, NC
Zoning CX-3 · permitted uses
CX-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.
Building & site characteristics
From public records
Year built
1951
Construction
BRICK
Heating
CENTRAL
Cooling
Yes
Stories
1
Buildings
5
Bathrooms
6
Lot
9.86 ac
Current owner
From public records · entity-resolved
Columbia II Ridgewood LLC
Entity
Free & Clear · 7 yrs held
Mailing address
PO BOX 2539, SAN ANTONIO, TX 78299-2539
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 11, 2018
$45,835,500
Columbia II Ridgewood LLC
Ridgewood Shopping Center LLC
Grant Deed
related
—
May 5, 2004
—
Ridgewood Shopping Center LLC
Country Club Homes INC
Grant Deed
related
—
—
—
Ridgewood Shopping Center LLC
—
Deed Of Trust
related
$11,000,000 · John Hancock Life Insurance Co
—
—
Ridgewood Shopping Center LLC
—
Deed Of Trust
related
$8,700,000 · Manufacturers Life Insurance
—
—
Natalie N Judd
—
Deed Of Trust
related
$30,000 · Housing Fin Agcy
—
—
Ridgewood Shopping Center LLC
—
Loan Modification
related
$11,000,000 · Miscellaneous Ins Co
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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