Industrial Property with Outdoor
For Sale
Contact for pricing
5832 Lease Ln, Raleigh, NC 27617
14,640 SF building with laydown yard and covered shed.
Property Size14,640 SF
Price / SF$200.14
Days on Market913
Property Features for 5832 Lease Ln
General Information
Standard status
Active
Size
14,640 SF
Class
B
Property subtype
Industrial
Zoning
IX-3
Occupancy
48%
Lease Type
Modified Gross
Investment Type
Owner/User
Building Details
Year Built
1985
Buildings
1
Stories
2
Tenancy
Single
Listing Agency:
The Overton Group
Listed By:
Will Redding · License #354954
Source:
Crexi
Added: Feb 20, 2024
Changed: Aug 8
Last Checked: Aug 20 at 4:54AM
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 The Overton Group
Investment Insights
Based on property information with market context.
The property at 5832 Lease Lane presents an investment opportunity, listed below replacement cost. The building encompasses 14,640 square feet and includes a laydown yard suitable for outdoor storage, complemented by a 2,500 square foot covered shed. Access is facilitated by two drive-in doors and three dock-high doors.
Key Highlights
- Listed well below replacement cost, offering a significant investment opportunity.
- Strategically located for optimal business operations.
- Substantial building size of 14,640 SF.
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
$113,780
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
3.88%
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%
$2,275,600
$2.3M
Cap Rate 7%
$1,625,429
$1.6M
Cap Rate 9%
$1,264,222
$1.3M
Market Conditions
NOI Build-Up for 14,640 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
$144.1K $9.84/SF
− Vacancy
−$10.2K −$0.70/SF
EGI
$133.9K $9.14/SF
− OpEx
−$20.1K −$1.37/SF
NOI
$113.8K $7.77/SF
Area
Raleigh, NC
Vacancy
7.08%
Lease Rate
$9.84 /SF/Yr
Expense Ratio
15.00%
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%
$2,275,600
Cap Rate 7%
$1,625,429
Cap Rate 9%
$1,264,222
Alternative Uses
Best Use
Warehouse
$1.63M
$1.42M – $1.90M
NOI $113,780 @ 7.0% cap · market cap 3.88%
Second Best
Industrial
$1.43M
$1.25M – $1.66M
NOI $99,832 @ 7.0% cap · market cap 3.41%
Theoretical Best
Specialty Retail
$4.02M
$3.52M – $4.69M
NOI $281,637 @ 7.0% cap · market cap 9.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
404
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 27617, NC
20,968
Population
10,522
Households
2
Avg Household Size
36
Median Age
63%
College-Educated
98%
High-School Grad
8.3 sq mi
ZIP Area
2,526
Density / Sq Mi
$109,991
Median Household Income
$69,203
Median Earnings
$1,679
Median Rent
$448,300
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Carolina Exotic Car Club & Business Center — 3107 Glen Royal Rd, Raleigh, NC 27617
- Public Storage — 8733 Glenwood Ave, Raleigh, NC 27617
- Next To You Self Storage Units — 8521 Cantilever Way #109, Raleigh, NC 27613
Frequently Asked Questions
What type of property is this?
Warehouse - 14,640 SF building with laydown yard and covered shed.
Where is this warehouse located?
The property is located at 5832 Lease Ln Raleigh, NC.
What is the asking price?
The asking price for this property is $2,930,000.
What are key features of this property?
This property features: Listed well below replacement cost, offering a significant investment opportunity.; Strategically located for optimal business operations.; Substantial building size of 14,640 SF.
