Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Wake Forest Retail Opportunity Title is generated by Realmo AI

    1030 Forestville Road, Wake Forest, NC 27587

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Centrally located retail space in Wake Forest, North Carolina.

    Type:Retail
    Added:
    Nov 22, 2025
    Days on Market:
    180
    Last Refresh:
    May 20 at 12:05 am

    Property Features for 1030 Forestville Road

    General Information

    Standard status
    Active
    Property subtype
    Retail

    We can help!

    Listing Contact
    Charlie Coyne
    Charlie Coyne

    Listing agent Charlie Coyne

    Listing office CBRE | Raleigh

    Listing date Nov 22, 2025

    Source Cbre

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

    All listing content including descriptions, pricing, images are the copyrighted material of CBRE | Raleigh

    HighLights

    • Centrally located in Wake Forest
    • Serves an affluent customer base
    • Located in a booming Raleigh suburb
    • Shoppes at Heritage Village

    Overview

    The Shoppes at Heritage Village are centrally located in Wake Forest, North Carolina, serving an affluent customer base in this growing Raleigh suburb.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Publix Pharmacy at The Shoppes ... Pharmacy City National Bank ... Bank Publix Catering at The Shoppes ... Take-out & Catering Redbox Cinema Primo Water Refill Big Box & Wholesale Store

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Similar Places Nearby

    • Coinstar Kiosk | Bitcoin ATM — Harris Teeter, 3638 Rogers Rd, Wake Forest, NC 27587
    • Wheatfield Shopping Center — 3600 Rogers Branch Rd, Wake Forest, NC 27587

    Location Insight

    • Map
    • Local Demand
    City
    Wake Forest
    County
    Wake
    State
    North Carolina
    Longitude
    -78.5076007
    Latitude
    35.9461173

    Nearby Similar for Lease

    • $17 SF/Yr
      7,241 SF

      Wake Forest Flex Space Available

      7,241 SF flex space with offices and warehouse areas.
      741 Merritt Capital Drive, Wake Forest, NC 27587
      View Details
    • $16 SF/Yr
      4,700 SF

      Flex/Office Space For Lease

      4,700 SF flex/office space available for lease.
      1600 Heritage Commerce Ct Suite 104, Wake Forest, NC 27587
      View Details
    • $1,100/Mo
      460 SF

      Wake Forest Office Condominium

      Office condominium in Heritage Office Center available for rent.
      1764 Heritage Center Drive, Suite 204, Wake Forest, NC 27587
      View Details
    • $1,818/Mo
      16,000 SF

      Turn-Key Commissary Kitchen Ready Now

      Fully equipped commercial kitchen for immediate occupancy and diverse culinary operations.
      5107 Unicon Drive, Wake Forest, NC 27587
      View Details
    • Contact for pricing
      36,932 SF

      Wake Forest Business Center Retail

      Retail spaces available in Wake Forest business center.
      12339 Wake Union Church Rd, Wake Forest, NC 27587
      View Details
    • Contact for pricing
      1,600 SF

      Wake Forest Office Suite

      Class B office suite in a growing commercial market.
      10520 Ligon Mill Rd suite 104, Wake Forest, NC 27587
      View Details
    • Contact for pricing

      Community Shopping Center For Rent

      Community shopping center anchored by Harris Teeter in Wake Forest.
      1428 Brogden Woods Drive, Wake Forest, NC, 27587
      View Details
    • Contact for pricing

      Fitness Space Available For Rent

      4,010 SF fitness space available next to Planet Fitness.
      907 Wrigley Drive, Wake Forest, NC, 27587
      View Details
    • Contact for pricing

      Hampton Way Drive Office Space

      Flexible office leasing opportunity in Wake Forest, North Carolina.
      12316 Hampton Way Drive, Wake Forest, NC 27587
      View Details
    • Contact for pricing
      6,000 SF

      Modern Office Suite in Wake

      Modern office suite in Wake Forest's growing commercial landscape.
      1744 Heritage Center Drive, Wake Forest, NC 27587
      View Details
    • Contact for pricing

      Executive Offices in Wake Forest

      Private offices with utilities included, convenient location, short-term leases.
      1890 S Main St, Wake Forest, NC 27587
      View Details
    • Contact for pricing
      41,887 SF

      Medical Office Building in Wake Forest

      Three-story medical office building available for lease in Wake Forest.
      11635 Northpark Dr, Wake Forest, NC 27587
      View Details

    FAQs

    What type of property is this?
    Shopping center - Centrally located retail space in Wake Forest, North Carolina.
    Where is this shopping center located?
    The property is located at 1030 Forestville Road Wake Forest, NC.
    What are key features of this property?
    This property features: Centrally located in Wake Forest; Serves an affluent customer base; Located in a booming Raleigh suburb
    (919) 831-8233
    We can help!
    Listing Contact
    Charlie Coyne
    Charlie Coyne
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1030 Forestville Road, Wake Forest, NC, 27587
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!