Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    213-223 Sunnybrook Rd Raleigh, NC 27610
    Property profile & analytics

    213-223 Sunnybrook Rd Raleigh, NC 27610

    View on Map
    • Land
    • 3.26 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 213-223 Sunnybrook Rd

    Lot size
    3.26 lot acres
    Property type
    Land

    Description

    This exceptional 3.26-acre commercial land parcel presents a unique mixed-use development opportunity in Raleigh, North Carolina. Located at 213-223 Sunnybrook Road, in Wake County, zip code 27610, the property boasts a highly desirable Office Mixed Use-3 (OX-3-PL-CU) zoning designation, with a future land use plan designating Office & Residential Mixed Use. Its strategic location offers unparalleled access to key infrastructure and amenities. The site is approximately 0.5 miles from Wake Med Raleigh Campus, 1.5 miles from I-440, 3 miles from Downtown Raleigh, and 4.5 miles from I-40, ensuring convenient connectivity for residents and businesses alike. Permitted uses are diverse and include, but are not limited to, multi-family residential, office space, medical facilities, hotels, college/university buildings, and research & development centers. All utilities are readily available on-site. A highest and best use analysis points towards multi-family development, with the potential for rezoning to OX-5, which could potentially support approximately 210 apartment units. This presents a compelling investment prospect for developers seeking to capitalize on Raleigh's thriving real estate market and its strong demand for diverse housing and commercial options. The property's size and zoning flexibility offer significant development potential, making it an ideal choice for a large-scale project.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Raleigh
    County
    Wake
    State
    North Carolina
    Longitude
    -78.5827
    Latitude
    35.7775

    Comparable in this City

    • Value Estimation by Request
      1.24 Acres

      1201 Plainview Dr

      Land • 1.24 Acres
      1201 Plainview Dr, Raleigh, NC 27610
      View Details
    • Value Estimation by Request
      18.99 Acres

      5000 Raleigh Beach Rd

      Land • 18.99 Acres
      5000 Raleigh Beach Rd, Raleigh, NC 27610
      View Details
    • Value Estimation by Request
      65.99 Acres

      2230 New Hope Rd

      Land • 65.99 Acres
      2230 New Hope Rd, Raleigh, NC 27610
      View Details
    • Value Estimation by Request
      1.61 Acres

      3219 Poole Rd

      Multifamily properties • 11,000 SF
      3219 Poole Rd, Raleigh, NC 27610
      View Details
    • Value Estimation by Request
      1.00 Acre

      3824 New Bern Ave

      Individual retail properties • 1.00 Acre
      3824 New Bern Ave, Raleigh, NC 27610
      View Details
    • Value Estimation by Request
      1.90 Acres

      5280 New Bern Ave

      Land • 82,764 SF
      5280 New Bern Ave, Raleigh, NC 27610
      View Details

    Similar Nearby for Sale

    • $199,900

      Land Available on Pearl Road

      Land for sale on Pearl Road in Raleigh, NC.
      4113 Pearl Rd, Raleigh, NC 27610
      View Details
    • $3,500,000

      Wake County Wooded Land Opportunity

      Approximately 7 acres of wooded land in Wake County.
      1000 Cross Link Rd, Raleigh, NC 27610
      View Details
    • Contact for pricing

      Raleigh Development Opportunity: 28.4 Acres

      28.4 acres in Raleigh, NC, zoned for multifamily development.
      5504 Rock Quarry Rd, Raleigh, NC 27610
      View Details
    • $365,000
      1.24 Acres

      Raleigh Mixed-Use Development Opportunity

      1.24 Acres, Prime Location, High Potential
      1201 Plainview Dr, Raleigh, NC 27610
      View Details
    • $1,750,000

      Raleigh Land Parcel For Sale

      Almost 3-acre corner lot zoned IX-3 on South New Hope Road.
      651 S New Hope Rd, Raleigh, NC 27610
      View Details
    • $199,900
      1.35 Acres

      Raleigh Land Parcel For Sale

      1.35 acre land parcel in Raleigh, rezoned R-10-CU.
      4113 Pearl Rd, Raleigh, NC 27610
      View Details

    Similar Nearby for Lease

    • $17 SF/Yr

      Raleigh Specialty Property For Rent

      Specialty commercial property available for rent in Raleigh, North Carolina.
      3908 Memo Ct, Raleigh, NC 27610
      View Details
    • $19 SF/Yr

      Raleigh Industrial Space For Lease

      Industrial space for lease in Raleigh, available June 2026.
      5080 Trademark Dr, Raleigh, NC 27610
      View Details
    • $14 SF/Yr

      Retail Space For Lease

      Retail property available for lease in Raleigh, North Carolina.
      1100 N Raleigh Blvd, Raleigh, NC 27610
      View Details
    • $2,025 /Mo
      25,500 SF

      Versatile Commercial Facility in Raleigh

      25,000 sq ft facility suitable for diverse uses.
      4400 Old Poole Rd, Raleigh, NC 27610
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    213-223 Sunnybrook Rd
    Raleigh, NC 27610
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    213-223 Sunnybrook Rd, Raleigh, NC, 27610
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!