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Property profile & analytics
OFF-MARKET
Estimated value
$4,460,000
Warehouses
5609 Departure Dr Raleigh, NC 27616-1842
Entity Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US53-5816617
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1984
Construction
CONCRETE
Total area
22,535 SF
Lot
2.5 ac (108,900 SF)
Zoning code
IX-3
APN
1726.05-07-6814 0127830
UPID
US53-5816617
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
-
Aracher Storage Facility Storage Facility
-
Live& Store Warehouse & Storage
-
Laser Support Services dba PrinterStop Computer & Electronic Repair Tech Support Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$4.50M
CAP Approach
CAP
$2.70M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$4.46M
Owner & transaction history
Hoskins Road Property LLC · 1 yrs held
Hoskins Road Property LLC
since 2025
7 recorded transactions
Zoning & alternative use
IX-3 · Raleigh, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$7.3M
+24.6%
Medical building
$7.1M
+21.2%
Auto repair, garage
$6.6M
+13.3%
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
$4,500,000
ML approach
$4,500,000
CAP Approach
CAP Return
Estimation
6%
$2,920,000
6.5%
$2,695,000
7%
$2,500,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$5,865,000
Current use
COMMERCIAL (GENERAL)
$7,310,000
Change: +25% · Conversion: Difficult
MEDICAL BUILDING
$7,105,000
Change: +21% · Conversion: Difficult
AUTO REPAIR, GARAGE
$6,645,000
Change: +13% · Conversion: Easy
Blend value · Realmo final
$4.46M
Range $4.01M – $4.91M · ±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
$198 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$30,664
Tax year 2024
Assessed value
$3,530,658
Assessed 2024
Previous assessed
$3,530,658
+0.0% YoY
Effective rate
0.87%
On assessed value
Assessed land
$522,720
Assessed improvement
$3,007,938
Land market value
$522,720
Improvement market value
$3,007,938
Total market value
$3,530,658
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1984
Construction
CONCRETE
Heating
SPACE
Cooling
CENTRAL
Stories
1
Total area
22,535 SF
Lot
2.5 ac (108,900 SF)
Zoning code
IX-3
APN
1726.05-07-6814 0127830
UPID
US53-5816617
Jurisdiction
WAKE
Zoning & alternative use
IX-3 · Raleigh, NC
Zoning IX-3 · permitted uses
IX-3 · 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
WAREHOUSE, STORAGE Current
Est. value
$5.9M
COMMERCIAL (GENERAL)
Est. value
$7.3M
MEDICAL BUILDING
Est. value
$7.1M
AUTO REPAIR, GARAGE
Est. value
$6.6M
WAREHOUSE, STORAGE Current
COMMERCIAL (GENERAL)
MEDICAL BUILDING
AUTO REPAIR, GARAGE
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
1984
Construction
CONCRETE
Heating
SPACE
Cooling
Yes
Stories
1
Lot
2.5 ac
Current owner
From public records · entity-resolved
Hoskins Road Property LLC
Entity
Mailing address
500 N HOSKINS RD STE #103, CHARLOTTE, NC 28216-3425
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 19, 2025
—
Hoskins Road Property LLC
Randy C Strickland
Deed
$3,600,000 · Us Bank Trust Co NA
Sep 23, 2024
$4,500,000
Randy C Strickland
Departure Drive Industrial LLC
Special Warranty Deed
—
Aug 9, 2023
$3,450,000
Departure Drive Industial LLC
Big Black Dog LLC
Special Warranty Deed
—
Aug 30, 2022
—
Big Black Dog LLC
—
Deed
related
$1,250,000 · The Fidelity Bank
May 4, 2020
$2,100,000
Big Black Dog LLC
Churchill Properties LLC
Warranty Deed
$2,100,000 · The Fidelity Bank
Dec 5, 2006
$1,100,000
Churchill Properties LLC
Departure Drive LLC
Warranty Deed
$880,000 · Suntrust Bank NA
Apr 18, 2005
$450,000
Departure Drive LLC
Hfi Foods INC
Warranty Deed
—
—
—
Churchill Properties LLC
—
Deed Of Trust
related
$1,648,000 · Southwest Securities Bank
—
—
Churchill Properties LLC
—
Deed Of Trust
related
$786,600 · 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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