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    951 Wendell Boulevard Wendell, NC 27591

    View on Map
    For Lease
    $624,360

    COMMERCIAL - Wendell, NC

    Property size:
    106,000 SF
    Lot size:
    45.85 Acres
    Added:
    Jun 27, 2025
    Days on Market:
    281
    Last Refresh:
    Apr 2 at 11:06 pm

    Property Features for 951 Wendell Boulevard

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Zoning
    MI
    Parking
    450
    Standard status
    Active
    APN
    1774389363
    Size
    106,000 SF
    Lot size
    45.85 Acres

    Taxes and HOA fees

    TaxYear
    2024
    TaxDescription
    Prop Of Vishay Intertechnolgy Inc 77-905
    TaxAnnualAmount
    90798

    Building Details

    Year built
    1978
    Floors in Building
    1

    We can help!

    Listing Contact
    Paulina Bohorquez
    Paulina Bohorquez

    Listing agent Paulina Bohorquez License #222259

    Listing office Keller Williams Realty 4700 Homewood Court Suite 200, Raleigh, NC

    Listing date Jun 27, 2025

    MLS# 10106297

    Copyright © 2026 Doorify MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Wendell NC Commercial Space Available

    Available for lease is a commercial space located in Wendell, North Carolina, approximately 20 minutes from Downtown Raleigh. The property offers over 60,000 square feet of space suitable for various uses, including data centers, call centers, research and development, some manufacturing, institutional purposes, and churches. The landlord is willing to install drive-in dock doors and a bathroom if needed. The space is mostly finished and conditioned, featuring ample parking, open work spaces, and offices in a convenient location. The minimum leasable area is 10,000 square feet, up to the full available space of approximately 66,000 square feet. The property is situated on a 45.85-acre lot. Heavy industrial or retail uses are not permitted.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Manufacturing properties

    Suggested Use

    Real Estate Agency Big Box & Wholesale Store Auto Repair Shop Auto Parts Store Accounting Firm Storage Facility Electronics & Wireless Store Cafe & Coffee Shop Car Rental Facility Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Wendell
    County
    Wake
    State
    North Carolina
    Longitude
    -78.4132882
    Latitude
    35.8047469

    Nearby Similar for Lease

    • Contact for pricing

      Wendell Commercial Property For Rent

      Historic corner property in downtown Wendell, suitable for retail or office.
      101 S Main Street, Wendell, NC 27591
      View Details
    • Contact for pricing

      Retail Center at Wendell Falls

      Retail spaces available in Lowes Foods anchored shopping center.
      1236 Wendell Falls Pkwy, Wendell, NC 27591
      View Details

    FAQs

    What type of property is this?
    Manufacturing property - 60,000+ SF manufacturing/R&D space for lease near Raleigh.
    Where is this manufacturing property located?
    The property is located at 951 Wendell Boulevard Wendell, NC.
    What is the lease rate?
    The lease rate is $624,360.
    What are key features of this property?
    This property features: Over 60,000 SF of manufacturing or R&D space available in a NNN lease.; Convenient location in Wendell, NC, only 20 minutes from Downtown Raleigh.; Landlord willing to install drive‑in dock doors and a bathroom if needed.
    (919) 985-9416
    We can help!
    Listing Contact
    Paulina Bohorquez
    Paulina Bohorquez
    Real Estate License ID: 222259
    Learn More
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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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