Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Downtown Raleigh Mixed-Use Development Title is generated by Realmo AI

    120 Kindley Street, Raleigh, NC 27601

    View on Map
    Claim this Listing
    For Lease
    $45 SF/Yr $131,070/Mo (calc)

    Premier mixed-use development in the heart of Downtown Raleigh.

    Type:office.creative_loft
    Property size:
    34,952 SF
    Lot size:
    5.90 Acres
    Added:
    Mar 7, 2026
    Days on Market:
    91
    Last Refresh:
    Mar 7 at 7:02 pm

    Property Features for 120 Kindley Street

    General Information

    Standard status
    Active
    Size
    34,952 SF
    Lot size
    5.90 Acres
    Property subtype
    office.creative_loft

    We can help!

    Listing Contact
    Arnold Siegmund

    Listing agent Arnold Siegmund

    Listing office Avison Young - US - NC - Raleigh

    Listing date Mar 7, 2026

    Source Avisonyoung

    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 Avison Young - US - NC - Raleigh

    HighLights

    • Energy‑positive building produces all energy on‑site
    • SMART BUILDING technology optimizes energy and operational performance
    • Highly visible location on Raleigh's major thoroughfare
    • Located in the heart of Downtown Raleigh's innovation district
    • Premier mixed‑use development
    • First‑of‑its‑kind development for the Triangle region

    Overview

    City Gateway is a mixed-use development located in downtown Raleigh's innovation district. Phase I of the development, situated at 120 Kindley Street, will be the area's first energy-positive building, producing all the energy it needs on site. The property features smart building technology, leveraging information from various building systems to optimize energy and operational performance. This aims to create a more productive and comfortable work environment. City Gateway is located along the southern edge of Downtown Raleigh within a 5.9-acre site bounded by South McDowell Street and Western Boulevard. The property towers above Raleigh's major thoroughfare into downtown and offers a highly visible location. The property size is 34952 square feet.
    Location Intelligence

    Current Use by Public Records

    Creative space

    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.

    Location Insight

    • Map
    • Local Demand
    City
    Raleigh
    County
    Wake
    State
    North Carolina
    Longitude
    -78.6336
    Latitude
    35.775

    Nearby Similar for Lease

    • $800/Mo
      133 SF

      Renovated Office Condo in Raleigh

      Centrally located, renovated office condo near North Hills Shopping Center.
      180 Mine Lake Court, Raleigh, NC 27615
      View Details
    • $4,100/Mo
      1,640 SF

      Retail Storefronts with Loft Office

      Two retail storefronts and an upstairs loft office with separate entry, positioned for access to major commuter routes.
      1514 S Saunders Street, Raleigh, NC 27603
      View Details
    • $2,310/Mo
      924 SF

      Two Retail Storefronts with Loft Office

      Two street-facing storefronts plus an upstairs loft office with a separate entrance and convenient driveway parking access.
      1512 S Saunders Street, Raleigh, NC 27603
      View Details
    • $16 SF/Yr
      11,200 SF

      Raleigh Industrial/Warehouse Space Available

      Move-in ready industrial/warehouse space in a well-located Raleigh corridor.
      4550 Preslyn Drive, Raleigh, NC 27616
      View Details
    • $3,150/Mo
      2,000 SF

      Professional Office Space For Lease

      Commercial space available for lease in Raleigh, North Carolina.
      132 Wind Chime Court, Raleigh, NC 27615
      View Details
    • $10,000/Mo
      1,833 SF

      Raleigh Commercial Flex Space Available

      Commercial flex space with offices, mezzanine, and bay door.
      5621 Departure Drive, Raleigh, NC 27616
      View Details
    • $1,500/Mo
      7,194 SF

      Raleigh Office Space For Lease

      Desirable Raleigh location with private entrance and ample parking.
      6014 Duraleigh Road, Raleigh, NC 27612
      View Details
    • $1,300/Mo
      600 SF

      North Raleigh Office Space Available

      600 SF office space for lease in North Raleigh.
      5640 Six Forks Road, Raleigh, NC 27609
      View Details
    • $32 SF/Yr
      2,302 SF

      Turnkey Medical Office Suite

      Move-in ready suite with reception, seven private rooms, and kitchenette designed for medical or wellness practices.
      10931 Raven Ridge Road, Raleigh, NC 27614
      View Details
    • $129-$5,404/Mo
      11-1,292 SF

      NC, Raleigh - Fayetteville St

      414 Fayetteville St, Raleigh, NC 27601
      View Details
    • $129-$6,916/Mo
      11-1,292 SF

      NC, Raleigh - Benson Dr

      3301 Benson Dr, Unit 1ST, Raleigh, NC 27609
      View Details
    • $129-$8,589/Mo
      11-1,292 SF

      North Hills Tower II

      4242 Six Forks Rd, Unit 1550, Raleigh, NC 27609
      View Details

    FAQs

    What type of property is this?
    Creative space - Premier mixed-use development in the heart of Downtown Raleigh.
    Where is this creative space located?
    The property is located at 120 Kindley Street Raleigh, NC.
    What is the lease rate?
    The lease rate is $45 SF/Yr.
    What are key features of this property?
    This property features: Energy‑positive building produces all energy on‑site; SMART BUILDING technology optimizes energy and operational performance; Highly visible location on Raleigh's major thoroughfare
    (919) 420-1573
    We can help!
    Listing Contact
    Arnold Siegmund
    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
    120 Kindley Street, Raleigh, North Carolina 27601
    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!