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Property profile & analytics
OFF-MARKET
Estimated value
$635,000
Investment properties
410 Morson St Raleigh, NC 27601-1558
Entity Owned
4-yr Hold
Free & Clear
Property ID
US53-5673839
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1910
Construction
FRAME
Total area
1,800 SF
Lot
0.05 ac (2,178 SF)
Zoning code
NX-3
APN
1703.36-88-9714 0014049
UPID
US53-5673839
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
-
John Montgomery Violins Inc (Bike/Boat/Book/etc) Store
-
a garden wall in provence Landscaping General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$845k
CAP Approach
CAP
$385k
Comparable Approach
Comparable
$488k
Blend (final)
Blend
$635k
Owner & transaction history
Pm21 LLC · 4 yrs held
Pm21 LLC
since 2021
Last sale
$650,000
2 recorded transactions
Zoning & alternative use
NX-3 · Raleigh, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$990,000
+69.9%
Retail stores
$705,000
+21.2%
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
$805,000
ML approach
$845,000
CAP Approach
CAP Return
Estimation
6%
$415,000
6.5%
$385,000
7%
$355,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$585,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$990,000
Change: +70% · Conversion: Difficult
RETAIL STORES
$705,000
Change: +21% · Conversion: Easy
MEDICAL BUILDING
$570,000
Change: -3% · Conversion: Easy
AUTO REPAIR, GARAGE
$530,000
Change: -9% · Conversion: Difficult
Blend value · Realmo final
$635k
Range $572k – $699k · ±10% · vs last sale $650k (Dec 30 2021)
Last sale anchor
$650k
Dec 30 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
$353 / 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
$4,085
Tax year 2023
Assessed value
$374,742
Assessed 2023
Previous assessed
$374,742
+0.0% YoY
Effective rate
1.09%
On assessed value
Assessed land
$164,221
Assessed improvement
$210,521
Land market value
$164,221
Improvement market value
$210,521
Total market value
$374,742
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
1910
Construction
FRAME
Heating
CENTRAL
Cooling
CENTRAL
Stories
2
Rooms
6
Bathrooms
1
Total area
1,800 SF
Lot
0.05 ac (2,178 SF)
Zoning code
NX-3
APN
1703.36-88-9714 0014049
UPID
US53-5673839
Jurisdiction
WAKE
Zoning & alternative use
NX-3 · Raleigh, NC
Zoning NX-3 · permitted uses
NX-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
COMMERCIAL (GENERAL) Current
Est. value
$585,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$990,000
RETAIL STORES
Est. value
$705,000
MEDICAL BUILDING
Est. value
$570,000
AUTO REPAIR, GARAGE
Est. value
$530,000
COMMERCIAL (GENERAL) Current
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
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
1910
Construction
FRAME
Heating
CENTRAL
Cooling
Yes
Stories
2
Rooms
6
Bathrooms
1
Lot
0.05 ac
Current owner
From public records · entity-resolved
Pm21 LLC
Entity
Free & Clear · 4 yrs held
Mailing address
609 E LN ST, RALEIGH, NC 27601-1145
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
Dec 30, 2021
$650,000
Pm21 LLC
Duo LLC
Warranty Deed
—
Sep 2, 2005
$275,000
Duo LLC
Ullman,charles R & Lisa S
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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