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Property profile & analytics
OFF-MARKET
Estimated value
$8,225,000
Warehouses
900 Freedom Dr, Raleigh, NC 27610-1424
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US53-0840107
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1997
Construction
CONCRETE BLOCKS
Total area
45,580 SF
Lot
6.73 ac (293,159 SF)
Zoning code
IX-3
APN
1734.13-13-7849 0087240
UPID
US53-0840107
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
-
Sewell Motor Express Trucking Company
-
Head Quarters Taxidermy Supply Taxidermist
-
Big Rock Sports (Bike/Boat/Book/etc) Store
-
Carolina Fur Dressing-Closing our doors permanently Factory Production Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$8.49M
CAP Approach
CAP
$5.45M
Comparable Approach
Comparable
$6.61M
Blend (final)
Blend
$8.23M
Owner & transaction history
Raleigh Freedom Dr LLC · 1 yrs held
Raleigh Freedom Dr LLC
since 2025
Last sale
$10.2M
7 recorded transactions
Zoning & alternative use
IX-3 · Raleigh, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$13.4M
+37.7%
Retail stores
$13.2M
+35.0%
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
$8,510,000
ML approach
$8,485,000
CAP Approach
CAP Return
Estimation
6%
$5,905,000
6.5%
$5,450,000
7%
$5,060,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$9,765,000
Current use
AUTO REPAIR, GARAGE
$13,440,000
Change: +38% · Conversion: Easy
RETAIL STORES
$13,175,000
Change: +35% · Conversion: Moderate
Blend value · Realmo final
$8.23M
Range $7.40M – $9.05M · ±10% · vs last sale $10.15M (Apr 1 2025)
Last sale anchor
$10.15M
Apr 1 2025
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
$180 / 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
$32,942
Tax year 2023
Assessed value
$3,022,165
Assessed 2023
Previous assessed
$3,022,165
+0.0% YoY
Effective rate
1.09%
On assessed value
Assessed land
$605,248
Assessed improvement
$2,416,917
Land market value
$605,248
Improvement market value
$2,416,917
Total market value
$3,022,165
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
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1997
Construction
CONCRETE BLOCKS
Heating
CENTRAL
Cooling
CENTRAL
Buildings
3
Stories
1
Total area
45,580 SF
Lot
6.73 ac (293,159 SF)
Zoning code
IX-3
APN
1734.13-13-7849 0087240
UPID
US53-0840107
Jurisdiction
WAKE
Zoning & alternative use
IX-3 · Raleigh, NC
Zoning IX-3 · permitted uses
IX-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
WAREHOUSE, STORAGE Current
Est. value
$9.8M
AUTO REPAIR, GARAGE
Est. value
$13.4M
RETAIL STORES
Est. value
$13.2M
WAREHOUSE, STORAGE Current
AUTO REPAIR, GARAGE
RETAIL STORES
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
1997
Construction
CONCRETE BLOCKS
Heating
CENTRAL
Cooling
Yes
Stories
1
Buildings
3
Lot
6.73 ac
Current owner
From public records · entity-resolved
Raleigh Freedom Dr LLC
Entity
Mailing address
1540 CASWELL ST, RALEIGH, NC 27608-2310
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 1, 2025
$10,150,000
Raleigh Freedom Dr LLC
Freedom Drive Properties LP
Special Warranty Deed
$7,200,000 · Ameritas Life Insurance Corp
Nov 23, 2021
$5,750,000
Freedom Drive Properties LP
Morgan Leasng LLC
Special Warranty Deed
$5,300,000 · First Capital Bank
Jan 26, 2017
—
American Towers LLC
Verizon Wireless
Grant Deed
related
—
Aug 26, 2011
—
Morgan Leasing LLC
—
Deed Of Trust
related
$1,226,554 · First Citizens Bank & Trust Co
Feb 6, 2006
—
Morgan Leasing LLC
Owner,record
Grant Deed
related
—
—
—
Morgan Leasing LLC
—
Deed Of Trust
related
$1,350,000 · North State Bank
—
—
Morgan Leasing LLC
—
Deed Of Trust
related
$100,000 · First Citizens Bank & Trust Co
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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