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Property profile & analytics
OFF-MARKET
Estimated value
$1,075,000
Retail space
428 Mcdowell St Raleigh, NC 27601-1727
Entity Owned
7-yr Hold
~
Est. High Equity
Property ID
US53-1814157
Property profile
Verified
Property type
Retail space
Use group
STORE, RETAIL OUTLET
Year built
1915
Construction
BRICK
Total area
4,000 SF
Lot
0.09 ac (3,920 SF)
Zoning code
DX-20
APN
1703.41-67-1005 0019321
UPID
US53-1814157
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
-
All Are Welcome Raleigh Mural Tour Operator
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.03M
Comparable Approach
Comparable
$812k
Blend (final)
Blend
$1.08M
Owner & transaction history
No Diving LLC · 7 yrs held
No Diving LLC
since 2018
5 recorded transactions
Zoning & alternative use
DX-20 · Raleigh, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The DX-20 is intended to provide for intense mixed use development of the Citysdowntown area
Zone name
Downtown Mixed Use
General category
MIXED_USE
Zone area
4.89 ac
Source
Realmo
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%
$1,115,000
6.5%
$1,030,000
7%
$955,000
Alternative Use
Use
Estimation
RETAIL STORES
$1,570,000
Current use
COMMERCIAL (GENERAL)
$1,295,000
Change: -17% · Conversion: Easy
MEDICAL BUILDING
$1,260,000
Change: -20% · Conversion: Difficult
Blend value · Realmo final
$1.08M
Range $968k – $1.18M · ±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
$269 / 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
$13,961
Tax year 2023
Assessed value
$1,194,652
Assessed 2023
Previous assessed
$1,194,652
+0.0% YoY
Effective rate
1.17%
On assessed value
Assessed land
$784,784
Assessed improvement
$409,868
Land market value
$784,784
Improvement market value
$409,868
Total market value
$1,194,652
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
Retail space
Use group
STORE, RETAIL OUTLET
Status
Off-Market
Year built
1915
Construction
BRICK
Heating
SPACE
Cooling
CENTRAL
Stories
1
Total area
4,000 SF
Lot
0.09 ac (3,920 SF)
Zoning code
DX-20
APN
1703.41-67-1005 0019321
UPID
US53-1814157
Jurisdiction
WAKE
Zoning & alternative use
DX-20 · Raleigh, NCZoning DX-20 · permitted uses
DX-20 · Raleigh, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The DX-20 is intended to provide for intense mixed use development of the Citysdowntown area
Zone name
Downtown Mixed Use
General category
MIXED_USE
Zone area
4.89 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$1.6M
COMMERCIAL (GENERAL)
Est. value
$1.3M
MEDICAL BUILDING
Est. value
$1.3M
RETAIL STORES Current
COMMERCIAL (GENERAL)
MEDICAL BUILDING
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
1915
Construction
BRICK
Heating
SPACE
Cooling
Yes
Stories
1
Lot
0.09 ac
Current owner
From public records · entity-resolved
No Diving LLC
Entity
Mailing address
1519 BROOKSIDE DR, RALEIGH, NC 27604-2002
Mailing matches property
Yes
Owner-occupied
Yes
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 10, 2026
—
No Diving LLC
—
Deed
related
$2,800,000 · Providence Bank
Aug 10, 2018
$1,052,500
No Diving LLC
Track Two Properties LLC
Warranty Deed
$2,077,500 · North St Bk
Jun 17, 2014
$900,000
Track Two Properties LLC
Van De Zande,c Douglas & Linda J
Warranty Deed
—
—
—
Charles D Van De Zande
—
Deed Of Trust
related
$402,000 · First Citizens Bank & Trust Co
—
—
Charles D Vandezande
—
Deed Of Trust
related
$175,300 · First Citizens Bank & Trust 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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