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Property profile & analytics
OFF-MARKET
Hotels
603 Morgan St, Raleigh, NC 27603-1829
Entity Owned
1-yr Hold
Free & Clear
Property ID
US53-4940984
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
2018
Construction
CONCRETE BLOCKS
Total area
68,338 SF
Lot
0.23 ac (10,019 SF)
Zoning code
DX-7
APN
1703.06-48-4920 0450553
UPID
US53-4940984
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
-
vidrio Restaurant
-
Sir Walter Mural Resort
-
The Casso, Raleigh, A Tribute Portfolio Hotel Hotel & Motel
-
Good Day Good Night Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Dc Glenwood LLC · 1 yrs held
Dc Glenwood LLC
since 2025
Last sale
$38.1M
6 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$100,463
Tax year 2023
Assessed value
$16,034,602
Assessed 2023
Previous assessed
$16,034,602
+0.0% YoY
Effective rate
0.63%
On assessed value
Assessed land
$1,159,198
Assessed improvement
$14,875,404
Land market value
$1,159,198
Improvement market value
$14,875,404
Total market value
$16,034,602
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
Hotels
Use group
HOTEL/MOTEL
Status
Off-Market
Year built
2018
Construction
CONCRETE BLOCKS
Heating
CENTRAL
Cooling
CENTRAL
Buildings
2
Stories
5
Units
126
Total area
68,338 SF
Lot
0.23 ac (10,019 SF)
Zoning code
DX-7
APN
1703.06-48-4920 0450553
UPID
US53-4940984
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.
Building & site characteristics
From public records
Year built
2018
Construction
CONCRETE BLOCKS
Heating
CENTRAL
Cooling
Yes
Stories
5
Buildings
2
Units
126
Lot
0.23 ac
Current owner
From public records · entity-resolved
Dc Glenwood LLC
Entity
Free & Clear · 1 yrs held
Mailing address
30 W ROWES WHARF ST #5300, BOSTON, MA 02110-3345
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 25, 2025
—
Dc Glenwood LLC
Cio Bloc 83 LLC
Deed
—
Mar 25, 2025
$38,069,000
Dc Glenwood LLC
Sonoran Raleigh LLC
Special Warranty Deed
$29,800,000 · Wells Fargo Bank NA
Apr 29, 2022
$31,500,000
Sonoran Raleigh LLC
Raleigh Hotel Group LLC
Special Warranty Deed
—
Oct 6, 2020
—
Raleigh Hotel Group LLC
—
Deed
related
$18,296,000 · Bank Ozk
Mar 20, 2018
—
Raleigh Hotel Group LLC
—
Grant Deed
related
$18,296,000 · Bank Of The Ozarks
—
—
Raleigh Hotel Group LLC
—
Loan Modification
related
$18,296,000 · Bank Ozk
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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