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Property profile & analytics
OFF-MARKET
Estimated value
$765,000
Bars & Pubs
629 Hargett St, Raleigh, NC 27603-1809
Entity Owned
21-yr Hold
Free & Clear
Property ID
US53-2061525
Property profile
Verified
Property type
Bars & Pubs
Use group
NIGHTCLUB (COCKTAIL LOUNGE)
Year built
1950
Construction
CONCRETE BLOCKS
Total area
4,774 SF
Lot
0.42 ac (18,295 SF)
Zoning code
DX-7
APN
1703.06-48-1308 0055704
UPID
US53-2061525
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
-
Argus Metal Fabrication Inc Metal Fabrication Plant Factory
-
Special Projects General Contractor Renovation Specialist
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$545k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$990k
Blend (final)
Blend
$765k
Owner & transaction history
Oistin INC · 21 yrs held
Oistin INC
since 2004
2 recorded transactions
Zoning & alternative use
DX-7 · Raleigh, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$940,000
+34.0%
Retail stores
$905,000
+29.6%
Commercial (general)
$845,000
+20.9%
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
$545,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NIGHTCLUB (COCKTAIL LOUNGE)
$700,000
Current use
OFFICE BUILDING
$940,000
Change: +34% · Conversion: Difficult
RETAIL STORES
$905,000
Change: +30% · Conversion: Difficult
COMMERCIAL (GENERAL)
$845,000
Change: +21% · Conversion: Difficult
MEDICAL BUILDING
$700,000
Change: 0% · Conversion: Difficult
Blend value · Realmo final
$765k
Range $689k – $842k · ±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
$160 / 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
$26,806
Tax year 2023
Assessed value
$2,459,286
Assessed 2023
Previous assessed
$2,459,286
+0.0% YoY
Effective rate
1.09%
On assessed value
Assessed land
$1,831,330
Assessed improvement
$627,956
Land market value
$1,831,330
Improvement market value
$627,956
Total market value
$2,459,286
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
1950
Construction
CONCRETE BLOCKS
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Total area
4,774 SF
Lot
0.42 ac (18,295 SF)
Zoning code
DX-7
APN
1703.06-48-1308 0055704
UPID
US53-2061525
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.
Alternative use value scenarios
Repositioning upside vs current use
NIGHTCLUB (COCKTAIL LOUNGE) Current
Est. value
$700,000
OFFICE BUILDING
Est. value
$940,000
RETAIL STORES
Est. value
$905,000
COMMERCIAL (GENERAL)
Est. value
$845,000
MEDICAL BUILDING
Est. value
$700,000
NIGHTCLUB (COCKTAIL LOUNGE) Current
OFFICE BUILDING
RETAIL STORES
COMMERCIAL (GENERAL)
MEDICAL BUILDING
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
1950
Construction
CONCRETE BLOCKS
Heating
CENTRAL
Cooling
Yes
Stories
1
Lot
0.42 ac
Current owner
From public records · entity-resolved
Oistin INC
Entity
Free & Clear · 21 yrs held
Mailing address
PO BOX 3148, ATLANTIC BEACH, NC 28512-3148
Ownership since
2004
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 9, 2004
$175,000
Oistin INC
Mettrey,eva J
Quit Claim Deed
related
—
Jun 12, 2003
—
Eva J Mettrey
—
Deed Of Trust
related
—
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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