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    Two Retail Storefronts with Loft Office Title is generated by Realmo AI

    1512 S Saunders Street, Raleigh, NC 27603

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    For Lease
    $2,310/Mo $30 SF/Yr (calc)

    COMMERCIAL - Raleigh, NC

    Property size:
    924 SF
    Lot size:
    0.20 Acres
    Added:
    Jun 4, 2026
    Days on Market:
    2
    Last Refresh:
    Jun 5 at 10:06 pm

    Property Features for 1512 S Saunders Street

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Zoning
    NX-3
    Standard status
    Active
    APN
    170318319759000 0025252
    Size
    924 SF
    Lot size
    0.20 Acres

    Taxes and HOA fees

    Tax Description
    Lob Prop Of J A Frye & Pt Alley Bm1947-77
    Tax Annual Amount
    4859

    Building Details

    Year built
    1951
    Floors in Building
    1

    We can help!

    Listing Contact
    Elmer Herrera Gonzalez

    Listing agent Elmer Herrera Gonzalez License #337340

    Listing office Century 21 Triangle Group 1111 Haynes Street, #109, Raleigh, NC

    Listing date Jun 4, 2026

    MLS# 10172303

    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.

    HighLights

    • Two retail storefront spaces at 1512 & 1514 S Saunders St (U.S. 401)
    • High visibility and high traffic counts along a major commuter route
    • Wrap‑around driveway and parking for storefront access
    • Upstairs loft office with a separate entrance
    • Convenient access to I‑40 and I‑440

    Overview

    The property at 1512 & 1514 S Saunders Street (U.S. 401) includes two retail storefront spaces designed for visibility and customer access. A wrap-around driveway and parking support convenient arrival, while an upstairs loft office is accessed through a separate entrance. The building is zoned NX-3.

    Located just south of Downtown Raleigh along a major commuter route, the property offers convenient regional connectivity to I-40 and I-440. It is positioned adjacent to the Downtown South mixed-use development, a multi-phase project planned to add residential, office, entertainment, hospitality, and retail density to the area. The South Saunders corridor also features numerous new residential developments and provides proximity to Downtown Raleigh and Dorothea Dix Park.

    This configuration can work well for retailers, service providers, restaurants, and neighborhood-focused businesses looking for street-level frontage with the option to operate an office from the upper loft. With two storefronts in one building, the space may also be useful for operators seeking separate premises for retail and professional services under one roof.
    Property Profile Location Intelligence

    Current Use by Public Records

    Iglesia Pentecostés Aposento ... Church

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy Skin Care Clinic

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

    Similar Places Nearby

    • Infinite Petals — 555 Fayetteville St Suite 201, Raleigh, NC 27601
    • TG Floristry — 130 E Morgan St, Raleigh, NC 27601
    • Petale Florist — Due to Covid and riots- we are doing ONLINE orders, 19 W Hargett St, Raleigh, NC 27601
    • timothy & co. Hospitality Management Services — 131 e davie st unit 423, raleigh, nc 27601

    Location Insight

    • Map
    • Local Demand
    City
    Raleigh
    County
    Wake
    State
    North Carolina
    Longitude
    -78.649607
    Latitude
    35.7602

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    FAQs

    What type of property is this?
    Storefront property - Two street-facing storefronts plus an upstairs loft office with a separate entrance and convenient driveway parking access.
    Where is this storefront property located?
    The property is located at 1512 S Saunders Street Raleigh, NC.
    What is the lease rate?
    The lease rate is $2,310 /Mo.
    What are key features of this property?
    This property features: Two retail storefront spaces at 1512 & 1514 S Saunders St (U.S. 401); High visibility and high traffic counts along a major commuter route; Wrap‑around driveway and parking for storefront access
    (919) 523-2458
    We can help!
    Listing Contact
    Elmer Herrera Gonzalez
    Real Estate License ID: 337340
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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.

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