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    Property profile & analytics

    7601 Glenwood Ave Raleigh, NC 27612-1868

    • Automotive properties
    • 18,476 SF
    • 8.52 lot acres
    OFF-MARKET
    Value Estimations
    $910,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-0044079
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • AuctionDirectOnline.com / Chevrolet Dealer / Ford Dealer
    • Auction Direct USA Raleigh Service Department / Auto Repair Shop
    • AUCTION DIRECT USA RALEIGH NC / Used Car Dealer / Tire Shop

    Property Details for 7601 Glenwood Ave

    Year built
    1997
    Construction
    METAL FRAME
    Lot size
    8.52 lot acres
    Property size
    18,476 SF
    Zone code
    CX-3
    Property type
    Automotive properties
    APN
    0787.17-21-2125 0232339
    APU
    787172121250232339

    Description

    This exceptional 8.52-acre property, located at 7601 Glenwood Ave in Raleigh, NC, presents a unique redevelopment opportunity. Situated on a corner lot with a median break, it boasts high visibility and accessibility, benefiting from its location halfway between I-440 and I-540 within Raleigh's Western Wake automotive row. The site includes two existing buildings totaling 20,156 square feet: an 18,200 square-foot showroom/service center and a drive-thru car wash and detail shop. Built in 1998 and renovated in 2007, the property features a Class B designation, 18-foot ceilings, and ample parking for approximately 531 vehicles, strategically designed for inventory, customers, and service operations. The property's CX-3-PK zoning allows for diverse development options. Its proximity to downtown Raleigh (15 minutes), Raleigh-Durham International Airport (15 minutes), and downtown Durham (20 minutes) further enhances its appeal. The location benefits from Wake County's strong demographics and North Carolina's robust population growth. This is a prime opportunity to capitalize on a thriving market and a highly visible location. The property offers significant potential for various uses, including hospitality, mixed-use, multifamily, retail, and self-storage, making it an attractive investment for developers seeking a high-impact project in a rapidly growing area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $910,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Raleigh
    County
    Wake
    State
    North Carolina
    Longitude
    -78.7225
    Latitude
    35.8685
    CBSA code
    39580
    CBSA name
    RALEIGH-CARY, NC METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $60,834
    $2,999,120
    $2,394,046
    $5,393,166
    -
    $2,999,120
    $2,394,046
    $5,393,166

    Comparable in this City

    • Value Estimation
      $1,135,000
      38,682 SF

      8501 Glenwood Ave

      VEHICLE SALES, RENTALS • 38,682 SF
      8501 Glenwood Ave, Raleigh, NC 27612-7358
      View Details
    • Value Estimation
      $975,000
      44,998 SF

      8520 Glenwood Ave

      VEHICLE SALES, RENTALS • 44,998 SF
      8520 Glenwood Ave, Raleigh, NC 27612-7310
      View Details
    • Value Estimation by Request
      38,745 SF

      7101 Glenwood Ave

      VEHICLE SALES, RENTALS • 38,745 SF
      7101 Glenwood Ave, Raleigh, NC 27612-7146
      View Details
    • Value Estimation
      $320,000
      2,578 SF

      5929 Glenwood Ave

      AUTO REPAIR, GARAGE • 2,578 SF
      5929 Glenwood Ave, Raleigh, NC 27612-6223
      View Details
    • Value Estimation
      $330,000
      1,544 SF

      6301 Creedmoor Rd

      AUTO REPAIR, GARAGE • 1,544 SF
      6301 Creedmoor Rd, Raleigh, NC 27612-6709
      View Details
    • Value Estimation
      $235,000
      5,500 SF

      6841 Glenwood Ave

      AUTO REPAIR, GARAGE • 5,500 SF
      6841 Glenwood Ave, Raleigh, NC 27612
      View Details

    Similar Nearby for Sale

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      Raleigh Retail Land Investment Opportunity

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    Similar Nearby for Lease

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      Raleigh Retail/Office Space Available

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    • Contact for pricing
      359,922 SF

      Raleigh Executive Office Suites

      Prime Raleigh location, multiple suites available.
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      Retail Space on Duraleigh Road

      Endcap retail space with high visibility and traffic counts.
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    • $25 SF/Yr
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    • $1,900 /Mo
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      Raleigh Office Space Sublet

      Short-term office space available in Raleigh, NC.
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      View Details
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      Raleigh Office Space for Lease

      Office space for lease near UNC Rex Hospital, I-440, and I-40.
      3214 Charles B. Root Wynd, Raleigh, NC 27612
      View Details
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    Raleigh, NC 27612-1868
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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.

    More about this property
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