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Property profile & analytics
OFF-MARKET
Estimated value
$1,400,000
Office buildings
520 Harrington St Raleigh, NC 27601-2108
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US53-0240942
Property summary
AI-generated overview
This exceptional 4,160 square foot single-tenant office building, located at 520 S Harrington St in Downtown Raleigh, NC (27601), presents a unique opportunity. Completely renovated in 2010, this loft-style space is ideal for creative industries. The property boasts a plug-and-play layout, including a fully equipped kitchen and spacious conference rooms. Enjoy a rooftop deck offering stunning Downtown Raleigh views. The building, constructed in 1968, sits on a 0.13-acre lot and features one story with on-site parking for two vehicles, supplemented by ample street parking and nearby garages. The DX-12-UL-CU zoning allows for flexibility. Its prime location offers easy access to major thoroughfares, and is within a short walk of the Red Hat Amphitheater and Raleigh Convention Center, and approximately a 20-minute walk to the State Capitol. The building's structural capacity even allows for the potential addition of a second floor. A landscaped, fenced entry adds to the property's curb appeal. This is a truly remarkable opportunity in the heart of Downtown Raleigh. APN: 1703561702.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1968
Construction
CONCRETE BLOCKS
Total area
4,160 SF
Lot
0.13 ac (5,663 SF)
Zoning code
DX-5
APN
1703.41-56-1702 0008408
UPID
US53-0240942
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
-
Sunny HQ, LLC Marketing & Advertising (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.34M
CAP Approach
CAP
$945k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.40M
Owner & transaction history
Trailblazer Investments LLC · 1 yrs held
Trailblazer Investments LLC
since 2025
Last sale
$1.9M
7 recorded transactions
Zoning & alternative use
DX-5 · Raleigh, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The DX-5 is intended to provide for intense mixed use development of the Citysdowntown area
Zone name
Downtown Mixed Use
General category
MIXED_USE
Zone area
28.24 ac
Source
Realmo
Top alternative use upside
Neighborhood: shopping center
$2.3M
+182.4%
Retail stores
$1.6M
+101.4%
Commercial (general)
$1.4M
+66.3%
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
$1,480,000
ML approach
$1,335,000
CAP Approach
CAP Return
Estimation
6%
$1,025,000
6.5%
$945,000
7%
$880,000
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$2,290,000
Change: +182% · Conversion: Difficult
RETAIL STORES
$1,635,000
Change: +101% · Conversion: Moderate
COMMERCIAL (GENERAL)
$1,350,000
Change: +66% · Conversion: Easy
MEDICAL BUILDING
$1,310,000
Change: +62% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,225,000
Change: +51% · Conversion: Difficult
WAREHOUSE, STORAGE
$940,000
Change: +16% · Conversion: Difficult
Blend value · Realmo final
$1.40M
Range $1.26M – $1.54M · ±10% · vs last sale $1.93M (Mar 5 2025)
Last sale anchor
$1.93M
Mar 5 2025
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
$337 / 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
$10,088
Tax year 2023
Assessed value
$925,504
Assessed 2023
Previous assessed
$925,504
+0.0% YoY
Effective rate
1.09%
On assessed value
Assessed land
$305,802
Assessed improvement
$619,702
Land market value
$305,802
Improvement market value
$619,702
Total market value
$925,504
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1968
Construction
CONCRETE BLOCKS
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Total area
4,160 SF
Lot
0.13 ac (5,663 SF)
Zoning code
DX-5
APN
1703.41-56-1702 0008408
UPID
US53-0240942
Jurisdiction
WAKE
Zoning & alternative use
DX-5 · Raleigh, NCZoning DX-5 · permitted uses
DX-5 · Raleigh, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The DX-5 is intended to provide for intense mixed use development of the Citysdowntown area
Zone name
Downtown Mixed Use
General category
MIXED_USE
Zone area
28.24 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.3M
RETAIL STORES
Est. value
$1.6M
COMMERCIAL (GENERAL)
Est. value
$1.4M
MEDICAL BUILDING
Est. value
$1.3M
AUTO REPAIR, GARAGE
Est. value
$1.2M
WAREHOUSE, STORAGE
Est. value
$940,000
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
COMMERCIAL (GENERAL)
MEDICAL BUILDING
AUTO REPAIR, GARAGE
WAREHOUSE, STORAGE
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
1968
Construction
CONCRETE BLOCKS
Heating
CENTRAL
Cooling
Yes
Stories
1
Lot
0.13 ac
Current owner
From public records · entity-resolved
Trailblazer Investments LLC
Entity
Mailing address
8315 6TH FRKS RD STE #205, RALEIGH, NC 27615-2103
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
14 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 5, 2025
$1,925,000
Trailblazer Investments LLC
Vista Real Estate LLC
Warranty Deed
$1,636,250 · Pinnacle Bank
Oct 14, 2019
$2,025,000
Vista Real Estate LLC
Mutation LLC
Warranty Deed
$1,865,000 · Towne Bk
Apr 7, 2017
$607,000
Business Expansion Fndg Corp
Mutation LLC
Grant Deed
—
Apr 7, 2017
—
Mutation LLC
—
Deed
related
$607,000 · Business Expansion Fndg
Apr 5, 2017
$242,000
Mutation LLC
Hart,david F
Warranty Deed
$738,500 · First South Bk
Apr 5, 2017
—
Bainbridge Place Townhome Assn
Parkway Bainbridge LLC
Quit Claim Deed
related
—
Nov 30, 2009
$280,000
Shimmering Oak LLC
Dickinson,robert P & Suzanne S
Warranty Deed
$385,200 · First Citizens Bank & Trust Co
Jul 8, 2004
—
Suzanne S Dickinson
Hite,stephen M & Katherine D
Warranty Deed
related
—
Jul 25, 2001
$145,500
Stephen Hite
Sherk,robert L
Grant Deed
—
Mar 28, 2000
$160,000
Robert L Sherk
—
Grant Deed
related
—
Mar 24, 2000
$160,000
Robert L Sherk
Britt,brian
Grant Deed
—
—
—
Mutation LLC
—
Deed Of Trust
related
$607,000 · Business Expansion Fndg
—
—
Mutation LLC
—
Deed Of Trust
related
$738,500 · First South Bk
—
—
Shimmering Oak LLC
—
Deed Of Trust
related
$313,000 · Business Expansion Funding Cor
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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