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    Property profile & analytics

    8020 Litchford Rd Raleigh, NC 27615

    • Commercial real estate
    • 22.24 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-2131944
    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 8020 Litchford Rd

    Lot size
    22.24 lot acres
    Property type
    Commercial real estate
    APN
    1717882715

    Description

    This exceptional 22.24-acre commercial land parcel presents a unique development opportunity in North Raleigh, NC. Located at 8020 Litchford Rd, Wake County, zip code 27615, this property boasts flexible zoning that ranges from R-1 to R-10 across the site, offering diverse development possibilities. The property includes a 1,620 square foot existing building. The expansive lot is conveniently situated with easy access to NC-540, providing excellent connectivity to major transportation routes. The property's APN is 1717882715. This significant landholding is ideal for a variety of commercial ventures. The site is divided into Tracts 1 and 2, which may be purchased separately, providing flexibility for investors and developers. This prime location in a rapidly growing area of North Raleigh offers significant potential for future appreciation and development. The property's address is 8020 Litchford Rd, Raleigh, NC 27615. Detailed zoning information is available upon request. This is a rare opportunity to acquire a substantial land parcel in a highly desirable location.

    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
    Raleigh
    County
    Wake
    State
    North Carolina
    Longitude
    -78.6017933
    Latitude
    35.8888245

    Comparable in this City

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      Raleigh Land Near Golf Course

      Nearly half-acre lot near The Oaks golf course.
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    • $750,000
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    • $387,500
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      Residential Lot in North Ridge

      Desirable 0.28 acre lot to build your custom home.
      Bent Pine Pl, Raleigh, NC 27615
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    • $574,900
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      Raleigh Estate Lot Inside I-540

      3.6 acre luxury home lot in North Raleigh.
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    • $700,000
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      North Raleigh Residential Land Opportunity

      Three acres of residential land available in North Raleigh.
      10100 Strickland Rd, Raleigh, NC 27615
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    Similar Nearby for Sale

    • $499,000
      Pending

      Raleigh Land Near Golf Course

      Nearly half-acre lot near The Oaks golf course.
      7015 Litchford Rd, Raleigh, NC 27615
      View Details
    • $750,000
      0.54 Acres

      Raleigh Commercial Lot with Office

      0.54 acre lot with 821 SF office space.
      2315 Dixie Forest Rd, Raleigh, NC 27615
      View Details
    • $320,000
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      Raleigh Land in Stone Creek

      Two residential lots totaling 2.4 acres in Raleigh, NC.
      600 Hawick Rd, Raleigh, NC 27615
      View Details
    • $387,500
      Pending

      Residential Lot in North Ridge

      Desirable 0.28 acre lot to build your custom home.
      Bent Pine Pl, Raleigh, NC 27615
      View Details
    • $574,900
      Pending

      Raleigh Estate Lot Inside I-540

      3.6 acre luxury home lot in North Raleigh.
      9709 Baileywick Rd, Raleigh, NC 27615
      View Details
    • $700,000
      3.01 Acres

      North Raleigh Residential Land Opportunity

      Three acres of residential land available in North Raleigh.
      10100 Strickland Rd, Raleigh, NC 27615
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      468,314 SF

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      Prime Raleigh Executive Suites

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      185,000 SF

      8300 Health Park: Premier Office Space

      North Raleigh medical office building, multiple suites available.
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      North Raleigh Office Sublease Available

      Office suite in North Raleigh with convenient access to amenities.
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    • Contact for pricing
      61,090 SF

      Warehouse Space with High Ceilings

      Available warehouse space with 30-foot ceilings and ample loading docks.
      3401 Gresham Lake Rd, Raleigh, NC 27615
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    • $10 SF/Yr
      51,304 SF

      Warehouse Space in Lincoln Park

      14,600 SF warehouse space available for sublease.
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    8020 Litchford Rd
    Raleigh, NC 27615
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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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