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Property profile & analytics
OFF-MARKET
Estimated value
$9,215,000
Community centers
4209 Lassiter Ml Rd, Raleigh, NC 27609-5794
Entity Owned
7-yr Hold
Free & Clear
Property ID
US53-1819861
Property profile
Verified
Property type
Community centers
Use group
MINI-MALL
Year built
2005
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
40,837 SF
Lot
2.8 ac (121,968 SF)
Zoning code
CX-5
APN
1706.19-50-1878 0303610
UPID
US53-1819861
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
-
Marta's Clothing & Fashion Store
-
George Owen Ophthalmologist (Bike/Boat/Book/etc) Store
-
Temporary Living Corporation Vacation Rental
-
Suite Home Hotel & Motel
-
The Beauty Lane Tanning Salon
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$12.09M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$9.22M
Owner & transaction history
Alexan Owner LP · 7 yrs held
Alexan Owner LP
since 2019
7 recorded transactions
Zoning & alternative use
CX-5 · 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%
$13,095,000
6.5%
$12,085,000
7%
$11,225,000
Blend value · Realmo final
$9.22M
Range $8.29M – $10.14M · ±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
$226 / 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
$158,355
Tax year 2023
Assessed value
$14,527,987
Assessed 2023
Previous assessed
$14,527,987
+0.0% YoY
Effective rate
1.09%
On assessed value
Assessed land
$4,873,842
Assessed improvement
$9,654,145
Land market value
$4,873,842
Improvement market value
$9,654,145
Total market value
$14,527,987
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
Community centers
Use group
MINI-MALL
Status
Off-Market
Year built
2005
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Total area
40,837 SF
Lot
2.8 ac (121,968 SF)
Zoning code
CX-5
APN
1706.19-50-1878 0303610
UPID
US53-1819861
Jurisdiction
WAKE
Zoning & alternative use
CX-5 · Raleigh, NC
Zoning CX-5 · permitted uses
CX-5 · 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
2005
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
Yes
Stories
1
Lot
2.8 ac
Current owner
From public records · entity-resolved
Alexan Owner LP
Entity
Free & Clear · 7 yrs held
Mailing address
4321 LASSITER AT N HLS AVE #25, RALEIGH, NC 27609-5780
Ownership since
2019
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
Jan 2, 2019
—
Alexan Owner LP
Alexan Owner LLC
Quit Claim Deed
related
—
May 2, 2017
—
Alexan Owner LLC
—
Deed
related
$150,000 · Miscellaneous Ins Co
Jul 3, 2014
—
Alexan Owner LLC
Alexan Retail At Lassiter LLC
Quit Claim Deed
related
—
Apr 18, 2007
—
Alexan Retail At Lassiter LLC
Oberlin Acquisition LLC
Grant Deed
$12,200,000 · Goldman Sachs Comm'l Mtg Cap
Apr 30, 2004
$3,861,000
North Hills Tcr
Oberlin Acquisition LLC
Grant Deed
$100 · Colonial Bank
—
—
Alexan Owner LLC
—
Deed Of Trust
related
$150,000 · Miscellaneous Ins Co
—
—
Oberlin Acquisition LLC
—
Deed Of Trust
related
$613,840 · Southern Community Bank
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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