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Property profile & analytics
FOR LEASE
Strip malls
9650 Strickland Rd Raleigh, NC 27615
Individually Owned
6-yr Hold
Absentee Owner
Free & Clear
Property ID
US53-0390973
For Lease
1 / 3
$2,535,000
9650 Strickland Rd, Raleigh, NC 27615
View Listing →
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1996
Construction
CONCRETE BLOCKS
Total area
11,827 SF
Lot
2.51 ac (109,336 SF)
Zoning code
CX-5
APN
1708.13-14-8052 0232414
UPID
US53-0390973
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
-
Custom Trade Partners, LLC dba The Blue Bear Partnership (Bike/Boat/Book/etc) Store Corporate Office
-
Raleigh-Cary Irrigation Repair General Contractor Construction Company
-
Clear Light Electric Electrical Service General Contractor
-
Sassool Restaurant
-
Walgreens Photo (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.79M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.54M
Owner & transaction history
James J Burns · 6 yrs held
James J Burns
since 2020
5 recorded transactions
Zoning & alternative use
CX-5 · Raleigh, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
ility Sec. 3.3.1. Applicability Each Mixed Use District must include one of the following height designations. The designation establishes the maximum height in stories and feet for each mixed use district. For example, CX-5 has a maximum height limit of 5 stories and 80 feet. -3 3 stories / 50 feet max -4 4 stories / 68 feet max -5 5 stories / 80 feet max -…
Zone name
Commercial Mixed Use
General category
MIXED_USE
Zone area
418.09 ac
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%
$3,025,000
6.5%
$2,790,000
7%
$2,595,000
Blend value · Realmo final
$2.54M
Range $2.28M – $2.79M · ±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
$214 / 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
$45,257
Tax year 2023
Assessed value
$4,151,980
Assessed 2023
Previous assessed
$4,151,980
+0.0% YoY
Effective rate
1.09%
On assessed value
Assessed land
$1,279,231
Assessed improvement
$2,872,749
Land market value
$1,279,231
Improvement market value
$2,872,749
Total market value
$4,151,980
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
For Lease
Year built
1996
Construction
CONCRETE BLOCKS
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Total area
11,827 SF
Lot
2.51 ac (109,336 SF)
Zoning code
CX-5
APN
1708.13-14-8052 0232414
UPID
US53-0390973
Jurisdiction
WAKE
Zoning & alternative use
CX-5 · Raleigh, NCZoning CX-5 · permitted uses
CX-5 · Raleigh, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
ility Sec. 3.3.1. Applicability Each Mixed Use District must include one of the following height designations. The designation establishes the maximum height in stories and feet for each mixed use district. For example, CX-5 has a maximum height limit of 5 stories and 80 feet. -3 3 stories / 50 feet max -4 4 stories / 68 feet max -5 5 stories / 80 feet max -7 7 stories -12 12 stories -20 20 stories -30 30 stories -40 40 stories The height r
Zone name
Commercial Mixed Use
General category
MIXED_USE
Zone area
418.09 ac
Building & site characteristics
From public records
Year built
1996
Construction
CONCRETE BLOCKS
Heating
CENTRAL
Cooling
Yes
Stories
1
Lot
2.51 ac
Current owner
From public records · entity-resolved
James J Burns
Individual
Free & Clear · 6 yrs held
Mailing address
7200 WISCONSIN AVE STE #600, BETHESDA, MD 20814-4845
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 29, 2020
—
Gri Harvest LLC
—
Deed
related
$10,500,000 · Carter Bk&tr
May 5, 2020
—
James J Burns
Nc Patriot INC
Grant Deed
related
—
Oct 18, 2019
$42,000
Gri Harvest LLC
Scp York Harvest LLC
Grant Deed
—
Sep 16, 2015
$15,600,000
Scp York Harvest LLC
Harvest Oaks Drive Assocs LLC
Trustees Deed
related
$10,300,000 · Miscellaneous Ins Co
Aug 16, 2006
—
Harvest Oaks Drive Assocs LLC
Harvest Plaza Associates LLC
Quit Claim Deed
related
$13,475,000 · Column Financial INC
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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