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Property profile & analytics
OFF-MARKET
Estimated value
$530,000
Bars & Pubs
605 Creekside Dr, Raleigh, NC 27609-7807
Entity Owned
4-yr Hold
Free & Clear
Property ID
US53-0390974
Property profile
Verified
Property type
Bars & Pubs
Use group
NIGHTCLUB (COCKTAIL LOUNGE)
Year built
1971
Construction
CONCRETE BLOCKS
Total area
3,960 SF
Lot
0.63 ac (27,443 SF)
Zoning code
CX-3
APN
1715.17-22-0264 0069819
UPID
US53-0390974
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
-
Loafers Beach Club Nightclub DJ & Entertainment
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$685k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$349k
Blend (final)
Blend
$530k
Owner & transaction history
Thompson Investment Group II LLC · 4 yrs held
Thompson Investment Group II LLC
since 2022
Last sale
$510,000
6 recorded transactions
Zoning & alternative use
CX-3 · Raleigh, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$740,000
+27.0%
Medical building
$645,000
+10.8%
Commercial (general)
$640,000
+9.8%
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
$575,000
ML approach
$685,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NIGHTCLUB (COCKTAIL LOUNGE)
$580,000
Current use
OFFICE BUILDING
$740,000
Change: +27% · Conversion: Difficult
MEDICAL BUILDING
$645,000
Change: +11% · Conversion: Difficult
COMMERCIAL (GENERAL)
$640,000
Change: +10% · Conversion: Difficult
Blend value · Realmo final
$530k
Range $477k – $583k · ±10% · vs last sale $510k (Jan 28 2022)
Last sale anchor
$510k
Jan 28 2022
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
$134 / 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
$6,322
Tax year 2023
Assessed value
$579,962
Assessed 2023
Previous assessed
$579,962
+0.0% YoY
Effective rate
1.09%
On assessed value
Assessed land
$328,493
Assessed improvement
$251,469
Land market value
$328,493
Improvement market value
$251,469
Total market value
$579,962
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
Bars & Pubs
Use group
NIGHTCLUB (COCKTAIL LOUNGE)
Status
Off-Market
Year built
1971
Construction
CONCRETE BLOCKS
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Total area
3,960 SF
Lot
0.63 ac (27,443 SF)
Zoning code
CX-3
APN
1715.17-22-0264 0069819
UPID
US53-0390974
Jurisdiction
WAKE
Zoning & alternative use
CX-3 · Raleigh, NC
Zoning CX-3 · permitted uses
CX-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
NIGHTCLUB (COCKTAIL LOUNGE) Current
Est. value
$580,000
OFFICE BUILDING
Est. value
$740,000
MEDICAL BUILDING
Est. value
$645,000
COMMERCIAL (GENERAL)
Est. value
$640,000
NIGHTCLUB (COCKTAIL LOUNGE) Current
OFFICE BUILDING
MEDICAL BUILDING
COMMERCIAL (GENERAL)
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
1971
Construction
CONCRETE BLOCKS
Heating
CENTRAL
Cooling
Yes
Stories
1
Lot
0.63 ac
Current owner
From public records · entity-resolved
Thompson Investment Group II LLC
Entity
Free & Clear · 4 yrs held
Mailing address
2600 WAKE FRST RD, RALEIGH, NC 27609-7838
Ownership since
2022
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
Jan 28, 2022
—
Thompson Investment Group II LLC
Mark B Thompson
Warranty Deed
—
Dec 21, 2021
$510,000
Mare B Thompson
Benjamin F Clifton
Warranty Deed
—
Jul 23, 2018
—
Benjamin F Clifton JR.
—
Deed
related
$687,500 · Paragon Bk
Aug 6, 2008
$50,000
Benjamin F Clifton JR.
Wilburn,fred V
Warranty Deed
$336,000 · Paragon Commercial Bank
Aug 23, 2007
—
Fred V Wilburn
—
Trustees Deed
related
$15,000 · Cyprus Group LLC
—
—
Benjamin F Clifton JR.
—
Loan Modification
related
$687,500 · Paragon Bk
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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