Building Details

Year built 1920

Floors in Building 2

Building materials Brick

Listing Agency: United Real Estate Triangle u***@gmail.com Show Phone

Listed By: Natalie Pearse · License #305394 Show Phone

Added: Dec 6, 2025 Changed: Sep 21 Last Checked: Oct 5 at 3:06PM

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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.

This 3,028-square-foot triplex contains three leased residential units within a brick building constructed in 1920. The property has wall-unit cooling, mixed-use zoning, and a 0.11-acre lot. All three units are occupied, providing an established rental configuration for an investor seeking a small multifamily asset.

Located in Raleigh’s 27610 postal area, the property is near Downtown Raleigh and positioned on N Fisher Street. The building’s three-unit layout and existing occupancy offer a straightforward operating profile, while the mixed-use zoning adds an additional land-use designation to the property’s profile.

Key Highlights

• Three‑unit triplex with 100% occupancy
• 3,028 square feet on a 0.11‑acre lot
• Brick construction, built in 1920

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$34,963

Cap Rate

5.83%

Suggested Prices Based on Cap Rates

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

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 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 (±1% cap)

NOI $34,963 @ 7.0% cap · market cap 5.83%

Second Best

Apartment 5plus

$448.5K

$392.4K – $523.2K (±1% cap)

NOI $31,392 @ 7.0% cap · market cap 5.23%

Theoretical Best

Specialty Retail

$887.6K

$776.7K – $1.04M (±1% cap)

NOI $62,135 @ 7.0% cap · market cap 10.36%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Triplexes

Suggested Use

Top Pick Dental Office Real Estate Agency Building Supply Big Box & Wholesale Store Spa & Massage Center HVAC Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this triplexes located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Triplex - Three leased units create a fully occupied income-producing configuration near Downtown 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 on a 0.11‑acre lot; Brick construction, built in 1920