Mixed-Use Development
For Sale
$1,699,000
407 & 411 N Boylan Avenue, Raleigh, NC 27603
Commercial Sale, Raleigh, NC
Property Size4,492 SF
Lot Size0.26 Acres
Price / SF$378.23
Days on Market201
Property Features for 407 & 411 N Boylan Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
OX-3
Lot features
City Lot, Rectangular Lot, Zero Lot Line
Standard status
Active
APN
1704.18-40-0938 0044238 01 & 1704.18-41-0023 0014
Size
4,492 SF
Lot size
0.26 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
N Boylan Avenue
Tax Annual Amount
17928
Legal Description
N Boylan Avenue
Utilities
Sewer type
Public Sewer
Building Details
Year built
1910
Listing Agency:
Compass -- Raleigh
(919) 726-6548
Listed By:
Martin Verdi · License #335125
(919) 771-7772
Added: Apr 13
Changed: Oct 8
Last Checked: Oct 30 at 4:06PM
MLS# 10159858
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.
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Investment Insights
Based on property information with market context.
This mixed-use property combines two adjacent parcels at 407 and 411 N. Boylan Avenue, totaling 0.26 acres. The site includes three existing dwellings with approximately 4,492 square feet of total building area, dating to 1910. Public sewer is available, and the parcels may be considered together or separately.
OX-3 zoning allows a range of residential and commercial applications, including detached homes, townhomes, condominiums, apartments, retail, office, or a combination of uses. Current zoning permits buildings up to 3 stories. The property is also subject to the NCOD overlay, including design requirements related to roof pitch and setbacks. Any redevelopment or renovation plan remains subject to review and approval by the appropriate surveyors, engineers, and City of Raleigh authorities.
OX-3 zoning allows a range of residential and commercial applications, including detached homes, townhomes, condominiums, apartments, retail, office, or a combination of uses. Current zoning permits buildings up to 3 stories. The property is also subject to the NCOD overlay, including design requirements related to roof pitch and setbacks. Any redevelopment or renovation plan remains subject to review and approval by the appropriate surveyors, engineers, and City of Raleigh authorities.
Key Highlights
- Two adjacent parcels at 407 and 411 N. Boylan Avenue
- Combined 0.26 acres, with 0.13 acres per parcel
- Three existing dwellings totaling approximately 4,492 square feet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$59,294
Cap Rate
3.49%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,185,880
$1.2M
Cap Rate 7%
$847,057
$847.1K
Cap Rate 9%
$658,822
$658.8K
Market Conditions
NOI Build-Up for 4,492 SF
Gross rent
$107.8K $24.00/SF
− Vacancy
−$12.9K −$2.88/SF
EGI
$94.9K $21.12/SF
− OpEx
−$35.6K −$7.92/SF
NOI
$59.3K $13.20/SF
Area
ZIP 27603
Vacancy
12.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,185,880
Cap Rate 7%
$847,057
Cap Rate 9%
$658,822
Alternative Uses
Best Use
Mixed Use
$847.1K
$741.2K – $988.2K
NOI $59,294 @ 7.0% cap · market cap 3.49%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.42M
$1.24M – $1.66M
NOI $99,462 @ 7.0% cap · market cap 5.85%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
3,511
Businesses Nearby
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Business Placement
Demographics for 27603, NC
54,616
Population
24,030
Households
2.3
Avg Household Size
34
Median Age
48%
College-Educated
94%
High-School Grad
51.4 sq mi
ZIP Area
1,063
Density / Sq Mi
$87,939
Median Household Income
$51,856
Median Earnings
$1,496
Median Rent
$347,000
Median Home Value
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Frequently Asked Questions
What type of property is this?
Mixed-use property - OX-3 zoning and public utilities support residential, office, retail, or combined mixed-use planning.
Where is this mixed-use property located?
The property is located at 407 & 411 N Boylan Avenue Raleigh, NC.
What is the asking price?
The asking price for this property is $1,699,000.
What are key features of this property?
This property features: Two adjacent parcels at 407 and 411 N. Boylan Avenue; Combined 0.26 acres, with 0.13 acres per parcel; Three existing dwellings totaling approximately 4,492 square feet
