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Property profile & analytics
OFF-MARKET
Estimated value
$38,935,000
Investment properties
510 Glenwood Ave MC Raleigh, NC 27603-1239
Individually Owned
22-yr Hold
Absentee Owner
Free & Clear
Property ID
US53-1700518
Property profile
Verified
Property type
Investment properties
Use group
STORE/OFFICE (MIXED USE)
Year built
2000
Construction
BRICK
Total area
134,165 SF
Lot
1.59 ac (69,260 SF)
Zoning code
DX-7
APN
1704.18-41-8502 0078222
UPID
US53-1700518
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
-
Gladwell Orthodontics Dental Office
-
Carolina Pediatric Dentistry Downtown Raleigh Dental Office
-
Leslie Mangum, PharmD Pharmacy
-
Graduation - Vaughn Vacation Rental Real Estate Agency
-
Dr. Clark Morris, DDS Dental Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$54.07M
Blend (final)
Blend
$38.94M
Owner & transaction history
James A Whitley JR. · 22 yrs held
James A Whitley JR.
since 2003
7 recorded transactions
Zoning & alternative use
DX-7 · 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$54,065,000
Current use
OFFICE BUILDING
$44,330,000
Change: -18% · Conversion: Easy
Blend value · Realmo final
$38.94M
Range $35.04M – $42.83M · ±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
$290 / 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
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
STORE/OFFICE (MIXED USE)
Status
Off-Market
Year built
2000
Construction
BRICK
Heating
CENTRAL
Cooling
CENTRAL
Stories
5
Units
12
Total area
134,165 SF
Lot
1.59 ac (69,260 SF)
Zoning code
DX-7
APN
1704.18-41-8502 0078222
UPID
US53-1700518
Jurisdiction
WAKE
Zoning & alternative use
DX-7 · Raleigh, NC
Zoning DX-7 · permitted uses
DX-7 · 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
$54.1M
OFFICE BUILDING
Est. value
$44.3M
COMMERCIAL (GENERAL) Current
OFFICE 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
2000
Construction
BRICK
Heating
CENTRAL
Cooling
Yes
Stories
5
Units
12
Lot
1.59 ac
Current owner
From public records · entity-resolved
James A Whitley JR.
Individual
Free & Clear · 22 yrs held
Mailing address
2108 CLARK AVE, RALEIGH, NC 27605-1606
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2003
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
27 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 30, 2016
—
New 510 Glenwood Assocs LLC
—
Grant Deed
related
$14,000,000 · Bank Of Nc
Oct 1, 2003
$404,000
James A Whitley JR.
—
Grant Deed
related
—
Sep 24, 2003
—
Craig D Adams
—
Deed Of Trust
related
—
Sep 22, 2003
$219,000
Mark A Arnold
—
Grant Deed
related
—
Sep 19, 2003
$219,000
Mark A Arnold
Trinity Research
Grant Deed
—
Sep 12, 2003
$203,000
Edward B Simmons JR.
—
Grant Deed
related
—
Sep 10, 2003
$203,000
Edward B Simmons JR.
Primacy,closing
Grant Deed
—
Jul 15, 2003
$421,000
Seabury D Thorp JR.
Wise,joseph J
Grant Deed
—
Jul 10, 2003
$460,000
Spencer Kupferman
Global Software
Grant Deed
—
Jun 23, 2003
$315,000
Michael L Lim
Alley,roger III
Grant Deed
—
Mar 14, 2001
$190,000
Charles N Fishman
Burcam Capital I
Grant Deed
—
Jan 31, 2001
$335,500
Robert E Nussear JR.
Burcam Capital I
Grant Deed
—
Nov 20, 2000
$235,500
Joseph J Wise
Burcam Capital I
Grant Deed
—
—
—
Edward B Simmons JR.
—
Deed Of Trust
related
$180,000 · First Carolina State Bank
—
—
James A Whitley JR.
—
Deed Of Trust
related
$250,000 · Affiliated Mortgage Svcs INC
—
—
Henry M Harris
—
Deed Of Trust
related
$167,200 · Countrywide Home Loans INC
—
—
James A Whitley JR.
—
Deed Of Trust
related
$100,000 · Fidelity Bank NA
—
—
Jonathan B Battaglia
—
Deed Of Trust
related
$550,000 · Southtrust Bank NA
—
—
Robert E Nussear JR.
—
Deed Of Trust
related
$222,500 · Chase Manhattan Mortgage Corp
—
—
Richard Jones
—
Deed Of Trust
related
$250,000 · Wachovia Mortgage Co
—
—
Christopher A Squires
—
Deed Of Trust
related
$250,000 · Wachovia Bank NA
—
—
Richard Lee
—
Deed Of Trust
related
$121,000 · Harrington Bank Fsb
—
—
Robert E Nussear JR.
—
Deed Of Trust
related
$120,000 · Chase Manhattan Bank USA NA
—
—
Richard S Jones
—
Deed Of Trust
related
$55,000 · Wachovia Bank NA
—
—
Edward B Simmons JR.
—
Deed Of Trust
related
$33,750 · First Carolina State Bank
—
—
James D Belt
—
Deed Of Trust
related
$150,000 · Wachovia Mortgage Co
—
—
T L Gulley JR.
—
Deed Of Trust
related
$308,000 · Dnj Mortgage
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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