Brick
For Sale
$600,000
15 N Fisher Street, Raleigh, NC 27610
COMMERCIAL - Raleigh, NC
Property Size3,028 SF
Lot Size0.11 Acres
Price / SF$198.15
Days on Market257
Property Features for 15 N Fisher Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
mixed use
Parking
6
Subdivision
College Park
Standard status
Active
APN
171306491228000 0008701
Size
3,028 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
DIST:01 CITY/MUNI/TWP:RALEIGH LOS327 PROP HARRY CLINKSCALE BM1986-02139
Tax Annual Amount
4241
Legal Description
DIST:01 CITY/MUNI/TWP:RALEIGH LOS327 PROP HARRY CLINKSCALE BM1986-02139
Utilities
Cooling system
Wall Unit(s)
Building Details
Year built
1920
Floors in Building
2
Building materials
Brick
Listing Agency:
United Real Estate Triangle
(919) 573-8322
Listed By:
Natalie Pearse · License #305394
(919) 839-3131
Added: Dec 6, 2025
Changed: Aug 4
Last Checked: Aug 20 at 9:06PM
MLS# 10136262
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.
Investment Insights
Based on property information with market context.
Located at 15 N Fisher Street in Raleigh, this triplex contains three rental units within a 3,028-square-foot building. The property was built in 1920, features brick construction, and uses wall-unit cooling. All three units are currently occupied, creating a fully leased multifamily configuration.
The property sits in Raleigh, NC 27610, with proximity to Downtown Raleigh noted in the property information. Mixed-use zoning adds an additional land-use designation to the asset. The 0.11-acre parcel provides the setting for this three-unit residential income property.
The property sits in Raleigh, NC 27610, with proximity to Downtown Raleigh noted in the property information. Mixed-use zoning adds an additional land-use designation to the asset. The 0.11-acre parcel provides the setting for this three-unit residential income property.
Key Highlights
- Three‑unit triplex with 100% occupancy
- 3,028 square feet across the building
- 0.11‑acre parcel in Raleigh, NC 27610
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$34,963
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.83%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$699,260
$699.3K
Cap Rate 7%
$499,471
$499.5K
Cap Rate 9%
$388,478
$388.5K
Market Conditions
NOI Build-Up for 3,028 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$52.7K $17.40/SF
− Vacancy
−$2.7K −$0.90/SF
EGI
$49.9K $16.50/SF
− OpEx
−$15.0K −$4.95/SF
NOI
$35.0K $11.55/SF
Area
ZIP 27610
Vacancy
5.20%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$699,260
Cap Rate 7%
$499,471
Cap Rate 9%
$388,478
Alternative Uses
Best Use
Multifamily LT 5
$499.5K
$437.0K – $582.7K
NOI $34,963 @ 7.0% cap · market cap 5.83%
Second Best
Apartment 5plus
$448.5K
$392.4K – $523.2K
NOI $31,392 @ 7.0% cap · market cap 5.23%
Theoretical Best
Specialty Retail
$887.6K
$776.7K – $1.04M
NOI $62,135 @ 7.0% cap · market cap 10.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
524
Businesses Nearby
Explore this area
Business Placement
Demographics for 27610, NC
75,164
Population
29,245
Households
2.6
Avg Household Size
34
Median Age
28%
College-Educated
86%
High-School Grad
45.2 sq mi
ZIP Area
1,663
Density / Sq Mi
$66,245
Median Household Income
$37,582
Median Earnings
$1,319
Median Rent
$260,300
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Fully occupied multifamily property with three rental units and mixed-use zoning in Raleigh.
Where is this triplex located?
The property is located at 15 N Fisher Street Raleigh, NC.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Three‑unit triplex with 100% occupancy; 3,028 square feet across the building; 0.11‑acre parcel in Raleigh, NC 27610
