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    Property profile & analytics

    13216 Capital Blvd Wake Forest, NC 27587

    • Commercial real estate
    • 12.17 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-5709515
    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

    • Commercial real estate

    Property Details for 13216 Capital Blvd

    Lot size
    12.17 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional 12.17-acre mixed-use property presents a remarkable investment opportunity in Wake Forest, North Carolina. Strategically located along US-1 and Capital Boulevard, this land enjoys a prime position within the Six Forks/Falls of Neuse submarket, a rapidly developing area. Its location along a major commuting corridor ensures high visibility and accessibility. The property is zoned HB CD, offering flexibility for a variety of commercial and residential developments. Proximity to downtown Wake Forest (2.0 miles) and downtown Raleigh (18.8 miles) further enhances its appeal. The site's ideal location makes it particularly well-suited for multifamily development, catering to the growing demand for housing in this desirable area. This significant land parcel offers substantial potential for developers seeking to capitalize on the area's robust growth trajectory. Serious inquiries should include purchase price, capital source (debt and equity), earnest money deposit details, due diligence period, and closing period. Shorter due diligence periods will be given favorable consideration.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Wake Forest
    County
    Wake
    State
    North Carolina
    Longitude
    -78.5210348
    Latitude
    36.0004195

    Comparable in this City

    • $1,750,000
      11.79 Acres

      Wake Forest Residential Land

      11.79 Acres, Prime Development Site
      2700 Forestville Rd, Wake Forest, NC 27587
      View Details
    • $2,000,000
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      Prime Plainfield Rd Retail Space

      High-visibility retail space available now
      0 Dr Calvin Jones Hwy, Wake Forest, NC 27587
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    • New
      $925,000
      1.01 Acres

      Wake Forest Multifamily Investment Opportunity

      Four properties available: houses, mobile home, and vacant lot.
      12329 Old Falls Of Neuse Rd, Wake Forest, NC 27587
      View Details
    • $350,000
      1,586 SF

      Magnolia Trace Condominium on White Street

      Modern 3-bedroom condominium near downtown Wake Forest.
      136 N White St, Wake Forest, NC 27587
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    • $359,900
      Pending

      Updated Home with Modern Charm

      Updated 3-bedroom home with new flooring and stylish fixtures.
      1110 Fairway Villas Dr, Wake Forest, NC 27587
      View Details
    • $649,900
      4,440 SF

      Spacious Home Near Downtown Wake

      2.33-acre lot with finished basement near downtown Wake Forest.
      735 Durham Rd, Wake Forest, NC 27587
      View Details

    Similar Nearby for Sale

    • $1,750,000
      11.79 Acres

      Wake Forest Residential Land

      11.79 Acres, Prime Development Site
      2700 Forestville Rd, Wake Forest, NC 27587
      View Details
    • $2,000,000
      4.36 Acres

      Prime Plainfield Rd Retail Space

      High-visibility retail space available now
      0 Dr Calvin Jones Hwy, Wake Forest, NC 27587
      View Details
    • New
      $925,000
      1.01 Acres

      Wake Forest Multifamily Investment Opportunity

      Four properties available: houses, mobile home, and vacant lot.
      12329 Old Falls Of Neuse Rd, Wake Forest, NC 27587
      View Details
    • $350,000
      1,586 SF

      Magnolia Trace Condominium on White Street

      Modern 3-bedroom condominium near downtown Wake Forest.
      136 N White St, Wake Forest, NC 27587
      View Details
    • $359,900
      Pending

      Updated Home with Modern Charm

      Updated 3-bedroom home with new flooring and stylish fixtures.
      1110 Fairway Villas Dr, Wake Forest, NC 27587
      View Details
    • $649,900
      4,440 SF

      Spacious Home Near Downtown Wake

      2.33-acre lot with finished basement near downtown Wake Forest.
      735 Durham Rd, Wake Forest, NC 27587
      View Details

    Similar Nearby for Lease

    • $1,600 /Mo

      Caddell Woods Home For Rent

      3 beds, 2.5 baths, convenient location, renovated kitchen.
      2828 Gross Ave, Wake Forest, NC 27587
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    • $1,800 /Mo

      Historic River Mill Condo Rental

      Top floor, 3-bedroom condo near Neuse River headwaters.
      1500 River Mill Dr, Wake Forest, NC 27587
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    • Contact for pricing

      Wake Forest Commercial Land Opportunity

      1.1-Acre Commercial Lot, Prime Location
      0 Franklin St, Wake Forest, NC 27587
      View Details
    • Contact for pricing

      Wake Forest Commercial Parcel

      1.1-acre commercial parcel for sale or ground lease.
      S Franklin St, Wake Forest, NC 27587
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    • Contact for pricing
      189,922 SF

      Wake Forest Commercial Land Opportunity

      4.36-Acre Commercial Site in Wake Forest, NC
      0 Dr Calvin Jones Hwy, Wake Forest, NC 27587
      View Details
    • Contact for pricing
      4 SF

      Wake Forest Commercial Land Parcel

      4.36-acre commercial land for sale or ground lease.
      Dr. Calvin Jones Hwy, Wake Forest, NC 27587
      View Details
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    13216 Capital Blvd
    Wake Forest, NC 27587
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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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