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    Property profile & analytics

    806 Gorman St Raleigh, NC 27606-1908

    • Investment properties
    • 1,982 SF
    • 0.31 lot acres
    OFF-MARKET
    Value Estimation
    $595,000
    Last Sale
    May 21, 2024
    $595,000
    Location Intelligence
    Property ID
    US53-0101116
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Wang's Tailor Shop / Tailor / Clothing Alteration Service

    Property Details for 806 Gorman St

    Year built
    1938
    Construction
    FRAME
    Lot size
    0.31 lot acres
    Property size
    1,982 SF
    Zone code
    OX-3
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    0794.18-21-7224 0020430
    APU
    794182172240020430

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $595,000

    • CAP approach

      CAP return
      Estimation
      6%
      $570,000
      6.5%
      $570,000
      7%
      $565,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $575,000
      Geo Method
      $560,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $510,000
      Retail
      $655,000
      Mixed-Use
      $575,000
      Hospitality
      $695,000
      Educational
      $655,000
      Residential Income
      $665,000
      Energy
      $695,000
      Income-Based Land
      $505,000
      Food Service
      $575,000

    Location Insight

    • Map
    • Local Demand
    City
    Raleigh
    County
    Wake
    State
    North Carolina
    Longitude
    -78.6873
    Latitude
    35.7863
    CBSA code
    39580
    CBSA name
    RALEIGH-CARY, NC METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $3,681
    $161,643
    $174,185
    $335,828
    -
    $161,643
    $174,185
    $335,828

    Comparable in this City

    • Value Estimation
      $285,000
      1,247 SF

      5400 Hillsborough St

      OFFICE/RESIDENTIAL (MIXED USE) • 1,247 SF
      5400 Hillsborough St, Raleigh, NC 27606-1339
      View Details
    • Value Estimation
      $285,000
      780 SF

      2523 Jones Franklin Rd

      OFFICE/RESIDENTIAL (MIXED USE) • 780 SF
      2523 Jones Franklin Rd, Raleigh, NC 27606-4033
      View Details
    • Value Estimation
      $255,000
      1,868 SF

      4703 Western Blvd

      OFFICE/RESIDENTIAL (MIXED USE) • 1,868 SF
      4703 Western Blvd, Raleigh, NC 27606-1741
      View Details
    • Value Estimation
      $290,000
      2,276 SF

      1701 Jones Franklin Rd

      OFFICE/RESIDENTIAL (MIXED USE) • 2,276 SF
      1701 Jones Franklin Rd, Raleigh, NC 27606-4035
      View Details
    • Value Estimation
      $345,000
      2,135 SF

      5100 Western Blvd

      OFFICE/RESIDENTIAL (MIXED USE) • 2,135 SF
      5100 Western Blvd, Raleigh, NC 27606-1640
      View Details
    • Value Estimation
      $240,000
      1,400 SF

      5572 Capital Ctr Dr

      OFFICE/RESIDENTIAL (MIXED USE) • 1,400 SF
      5572 Capital Ctr Dr, Raleigh, NC 27606
      View Details

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    806 Gorman St
    Raleigh, NC 27606-1908
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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