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Property profile & analytics
OFF-MARKET
Estimated value
$670,000
Grocery and convenience stores
515 Ashe Ave Raleigh, NC 27606-2104
Entity Owned
10-yr Hold
~
Est. High Equity
Property ID
US53-0853993
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
1973
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
2,840 SF
Lot
0.28 ac (12,197 SF)
Zoning code
NX-3
APN
0793.08-98-9423 0039684
UPID
US53-0853993
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
-
Pullen Mart Grocery & Convenience Store
-
U-Haul Neighborhood Dealer Car Rental Facility
-
Coin Cloud Bitcoin ATM Atm Electronics Vending Machine
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$730k
Comparable Approach
Comparable
$505k
Blend (final)
Blend
$670k
Owner & transaction history
Nkhbm LLC · 10 yrs held
Nkhbm LLC
since 2016
4 recorded transactions
Zoning & alternative use
NX-3 · Raleigh, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The NX-3 is intended to provide for a variety of residential, retail, service andcommercial uses all within walking distance of residential neighborhoods
Zone name
Neighborhood Mixed Use
General category
MIXED_USE
Zone area
176.09 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%
$790,000
6.5%
$730,000
7%
$680,000
Alternative Use
Use
Estimation
RETAIL STORES
$1,115,000
Current use
COMMERCIAL (GENERAL)
$920,000
Change: -17% · Conversion: Easy
MEDICAL BUILDING
$895,000
Change: -20% · Conversion: Difficult
Blend value · Realmo final
$670k
Range $603k – $737k · ±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
$236 / 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
$7,077
Tax year 2023
Assessed value
$649,270
Assessed 2023
Previous assessed
$649,270
+0.0% YoY
Effective rate
1.09%
On assessed value
Assessed land
$164,660
Assessed improvement
$484,610
Land market value
$164,660
Improvement market value
$484,610
Total market value
$649,270
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
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
Off-Market
Year built
1973
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Total area
2,840 SF
Lot
0.28 ac (12,197 SF)
Zoning code
NX-3
APN
0793.08-98-9423 0039684
UPID
US53-0853993
Jurisdiction
WAKE
Zoning & alternative use
NX-3 · Raleigh, NCZoning 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
Zoning description
The NX-3 is intended to provide for a variety of residential, retail, service andcommercial uses all within walking distance of residential neighborhoods
Zone name
Neighborhood Mixed Use
General category
MIXED_USE
Zone area
176.09 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$1.1M
COMMERCIAL (GENERAL)
Est. value
$920,000
MEDICAL BUILDING
Est. value
$895,000
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
1973
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
Yes
Stories
1
Lot
0.28 ac
Current owner
From public records · entity-resolved
Nkhbm LLC
Entity
Mailing address
23 GLN LAUREL RD, CLAYTON, NC 27527-7574
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 8, 2022
—
Nkhbm LLC
—
Deed
related
$450,000 · Benchmark Community Bank
Jan 26, 2016
$1,010,000
Nkhbm LLC
Ashe Avenue LLC
Warranty Deed
$707,700 · Four Oaks Bk&tr
Jun 1, 2006
$375,000
Ashe Avenue LLC
Circle K Stores INC
Grant Deed
$377,000 · Wachovia Bank NA
—
—
Ashe Avenue LLC
—
Deed Of Trust
related
$405,000 · Wells Fargo 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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