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    12339 Wake Union Church Rd Wake Forest, NC 27587

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    For Lease
    Contact for pricing

    Retail spaces available in Wake Forest business center.

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    Listing Contact
    Johnny Wehmann
    Johnny Wehmann
    Source: Svn

    Listing Agency: SVN | Real Estate Associates Listing Agent: Johnny Wehmann

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

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    Property Insight Report

    Overview

    Wake Forest Business Center Retail

    Tarlton Business Center comprises three buildings totaling approximately 38,165 square feet. The center accommodates a mix of technology providers, medical suppliers, and government entities. Major tenants include Monolith Corp, Accu-Tech USA, Gilbarco Veeder-Root Inc., and Benchmark Community Bank. The property is located just west of downtown Wake Forest, directly off Capital Blvd/US-1, near the intersection of Hwy 98, in a shadow position to The Market of Wake Forest Shopping Center. It offers convenient access to Capital Blvd and US Hwy 1 via the NC Hwy 98 Exit. Nearby amenities include Super Target, Home Depot, Hampton Inn, and Big Lots. Situated in the rapidly growing Wake Forest, a suburb of Raleigh, the location is 16 miles from downtown Raleigh and 22 miles from downtown Durham. The average household incomes within a 1-mile radius are $150,000+.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Monolith Corporation Services Total360 Studios by ... (Bike/Boat/Book/etc) Store Shamrock Fence General Contractor Total One AP ... Photography Service Pura Vida Therapy Alternative Medicine Practice

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Similar Places Nearby

    Coinstar Kiosk | Bitcoin ATM

    Location Insight

    • Map
    • Local Demand
    City
    Wake Forest
    County
    Wake
    State
    North Carolina
    Longitude
    -78.5428841
    Latitude
    35.9826412

    Nearby Similar for Lease

    • $3,995 /Mo
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      Wake Forest Office Space

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      Wake Forest Flex Space Available

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      Flex/Office Space For Lease

      4,700 SF flex/office space available for lease.
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    • $1,100 /Mo

      Wake Forest Office Condominium

      Office condominium in Heritage Office Center available for rent.
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      Downtown Wake Forest Office Space

      627 SF open office space in downtown Wake Forest.
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      Community Shopping Center For Rent

      Community shopping center anchored by Harris Teeter in Wake Forest.
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      Fitness Space Available For Rent

      4,010 SF fitness space available next to Planet Fitness.
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    • $36 SF/Yr
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      NorthPark I Medical Office Space

      Wake Forest medical office suites available.
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    • $71 SF/Yr
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      Wake Forest Executive Suites

      Modern offices, short-term lease options.
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      Wake Forest Retail Space Available

      Prime Wake Forest location, multiple spaces, high visibility.
      14460 New Fls Of Neuse Rd, Wake Forest, NC 27587
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      55,300 SF

      Heritage Walk: Prime Retail Space

      7.86-acre Retail Center, 55,300 SF
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    FAQs

    What type of property is this?
    Shopping center - Retail spaces available in Wake Forest business center.
    Where is this shopping center located?
    The property is located at 12339 Wake Union Church Rd Wake Forest, NC.
    What are key features of this property?
    This property features: - Located in rapidly growing Wake Forest, a suburb of Raleigh; - Easy access to Capital Blvd and US Hwy 1 via NC Hwy 98 Exit; - Average household incomes of $150,000+ within 1 mile radius
    (919) 287-3218
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    Wake Forest, NC 27587
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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
    12339 Wake Union Church Rd Wake Forest, NC 27587
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    We can help!
    Listing Contact
    Johnny Wehmann
    Johnny Wehmann
    Real Estate License ID: 243062
    (919) 287-3218 (919) 259-3618
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