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Property profile & analytics
OFF-MARKET
Estimated value
$7,135,000
Retail space
8331 Glenwood Ave, Raleigh, NC 27612-7220
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US53-5335164
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2007
Construction
CONCRETE BLOCKS
Total area
36,050 SF
Lot
4.05 ac (176,418 SF)
Zoning code
CX-3
APN
0777.04-84-9424 0340383
UPID
US53-5335164
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
-
Ashley Store Furniture & Home Goods Home Decor Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$6.96M
CAP Approach
CAP
$9.27M
Comparable Approach
Comparable
$8.92M
Blend (final)
Blend
$7.14M
Owner & transaction history
New River Glenwood LLC · 3 yrs held
New River Glenwood LLC
since 2022
Last sale
$5.3M
6 recorded transactions
Zoning & alternative use
CX-3 · 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
$7,165,000
ML approach
$6,960,000
CAP Approach
CAP Return
Estimation
6%
$10,045,000
6.5%
$9,270,000
7%
$8,610,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$11,690,000
Change: -17% · Conversion: Easy
MEDICAL BUILDING
$11,370,000
Change: -20% · Conversion: Difficult
Blend value · Realmo final
$7.14M
Range $6.42M – $7.85M · ±10% · vs last sale $5.25M (Nov 3 2022)
Last sale anchor
$5.25M
Nov 3 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
$198 / 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
$61,536
Tax year 2023
Assessed value
$5,645,546
Assessed 2023
Previous assessed
$5,645,546
+0.0% YoY
Effective rate
1.09%
On assessed value
Assessed land
$1,479,238
Assessed improvement
$4,166,308
Land market value
$1,479,238
Improvement market value
$4,166,308
Total market value
$5,645,546
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
2007
Construction
CONCRETE BLOCKS
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Total area
36,050 SF
Lot
4.05 ac (176,418 SF)
Zoning code
CX-3
APN
0777.04-84-9424 0340383
UPID
US53-5335164
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
COMMERCIAL (GENERAL)
Est. value
$11.7M
MEDICAL BUILDING
Est. value
$11.4M
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
2007
Construction
CONCRETE BLOCKS
Heating
CENTRAL
Cooling
Yes
Stories
1
Lot
4.05 ac
Current owner
From public records · entity-resolved
New River Glenwood LLC
Entity
Mailing address
2901 LAKEMONT BLVD, FORT MILL, SC 29708-0137
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
Nov 3, 2022
$5,250,000
New River Glenwood LLC
Deer Park Raeigh LLC
Special Warranty Deed
$4,200,000 · Cadence Bank NA
Feb 19, 2018
—
Deer Park Raleigh LLC
—
Deed
related
$4,700,000 · Paragon Bk
Mar 18, 2008
$7,600,000
Deer Park Raleigh LLC
Wj Properties II LLC
Grant Deed
related
$5,400,000 · General Elec Com'l Fin Busines
Aug 14, 2006
—
Wj Properties II LLC
Ddc Associates LLC
Grant Deed
related
—
—
—
Wj Properties II LLC
—
Deed Of Trust
related
$5,400,000 · General Elec Com'l Fin Busines
—
—
Deer Park Raleigh LLC
—
Deed Of Trust
related
$4,700,000 · 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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