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Property profile & analytics
OFF-MARKET
Estimated value
$13,350,000
Warehouses
622 Capital Blvd, Raleigh, NC 27603-1104
Entity Owned
9-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US53-1182558
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
2017
Total area
89,795 SF
Lot
2.01 ac (87,556 SF)
Zoning code
IX-12
APN
1704.15-62-2708 0024270
UPID
US53-1182558
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
-
CubeSmart Self Storage Storage Facility
-
D - Junk Removal Service Waste Management Facility
-
Storage unit Storage Facility
-
Tapworks LLC Law Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$15.11M
Comparable Approach
Comparable
$12.50M
Blend (final)
Blend
$13.35M
Owner & transaction history
Ch Realty Vii-baranof I Ra 622 · 9 yrs held
Ch Realty Vii-baranof I Ra 622
since 2016
4 recorded transactions
Zoning & alternative use
IX-12 · 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
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$16,370,000
6.5%
$15,110,000
7%
$14,030,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$17,585,000
Current use
Blend value · Realmo final
$13.35M
Range $12.02M – $14.69M · ±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
$149 / 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
$158,793
Tax year 2024
Assessed value
$18,283,592
Assessed 2024
Previous assessed
$18,283,592
+0.0% YoY
Effective rate
0.87%
On assessed value
Assessed land
$5,209,582
Assessed improvement
$13,074,010
Land market value
$5,209,582
Improvement market value
$13,074,010
Total market value
$18,283,592
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
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
2017
Heating
CENTRAL
Cooling
CENTRAL
Buildings
2
Stories
3
Units
920
Total area
89,795 SF
Lot
2.01 ac (87,556 SF)
Zoning code
IX-12
APN
1704.15-62-2708 0024270
UPID
US53-1182558
Jurisdiction
WAKE
Zoning & alternative use
IX-12 · Raleigh, NC
Zoning IX-12 · permitted uses
IX-12 · 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
$17.6M
WAREHOUSE, STORAGE Current
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
2017
Heating
CENTRAL
Cooling
Yes
Stories
3
Buildings
2
Units
920
Lot
2.01 ac
Current owner
From public records · entity-resolved
Ch Realty Vii-baranof I Ra 622
Entity
Mailing address
2850 N HARWOOD ST STE #1000, DALLAS, TX 75201-2651
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
Sep 19, 2016
$3,400,000
Ch Realty Vii-baranof I Ra 622
622 Capital LLC
Grant Deed
$8,294,637 · Ch Realty Vii/i Scottsdale Sel
Sep 19, 2016
—
Ch Realty Vii-baranof I Ra 622
622 Capital LLC
Warranty Deed
related
—
Jan 3, 2012
—
622 Capital LLC
Joyner,phyllis M
Grant Deed
related
—
—
—
622 Capital LLC
—
Deed Of Trust
related
$1,812,398 · Fidelity 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.
Try Rey
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