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    4700 Capital Blvd Raleigh, NC 27604
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    4700 Capital Blvd Raleigh, NC 27604

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    • Lifestyle centers
    • 82,293 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Best Remodeling Home Store / Home Appliance Store / Hardware & Home Improvement
    • Mini city / Parking Lot & Garage
    • Warehouse Sale Pop-Up Shoe Store / Clothing & Fashion Store / (Bike/Boat/Book/etc) Store

    Property Details for 4700 Capital Blvd

    Year built
    1979
    Property size
    82,293 SF
    Property type
    Lifestyle centers
    Property subtype
    Power centers

    Description

    Mini City Marketplace Two, located at 4700 Capital Boulevard in Raleigh, NC, presents a compelling retail investment opportunity. This 82,293 square foot shopping center, built in 1979, boasts a prime location at the intersection of Capital Boulevard and New Hope Drive in Wake County. The property benefits from exceptional visibility to the high volume of traffic on Capital Boulevard, with an estimated 46,000 vehicles passing daily. Convenient access is provided by entrances on both Capital Boulevard and New Hope Drive. Currently, there are three available retail spaces ranging from 1,997 to 4,455 square feet. The center is anchored by a Family Dollar and Oak Street Health, providing strong existing tenancy and drawing significant customer traffic. Ample parking is available with 408 spaces to accommodate shoppers and employees. With 26,377 square feet currently vacant, this property offers a unique chance to capitalize on a well-established location and attract new tenants to a thriving retail environment. The property's strategic location and existing infrastructure make it an ideal investment for those seeking a strong return in the Raleigh market. The zip code is 27604.

    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
    -78.5789
    Latitude
    35.8482

    Comparable in this City

    • Value Estimation by Request
      62,132 SF

      2822 Capital Blvd

      Lifestyle centers • 62,132 SF
      2822 Capital Blvd, Raleigh, NC 27604
      View Details
    • Value Estimation by Request
      36,193 SF

      4229 Louisburg Rd

      Community centers • 36,193 SF
      4229 Louisburg Rd, Raleigh, NC 27604
      View Details
    • Value Estimation
      $8,230,000
      45,150 SF

      4011 Capital Blvd

      MINI-MALL • 45,150 SF
      4011 Capital Blvd, Raleigh, NC 27604-4572
      View Details
    • Value Estimation
      $11,575,000
      57,995 SF

      3901 Capital Blvd Ste, Unit 152

      MINI-MALL • 57,995 SF
      3901 Capital Blvd Ste, Raleigh, NC 27604-3487
      View Details
    • Value Estimation
      $27,730,000
      93,700 SF

      4020 Capital Blvd

      SHOPPING CENTER, STRIP CENTER • 93,700 SF
      4020 Capital Blvd, Raleigh, NC 27604-3450
      View Details
    • Value Estimation
      $1,430,000
      7,560 SF

      3509 Capital Blvd

      SHOPPING CENTER, STRIP CENTER • 7,560 SF
      3509 Capital Blvd, Raleigh, NC 27604-4539
      View Details

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    Similar Nearby for Lease

    • Contact for pricing
      1 SF

      Retail Space Near Capital Blvd

      Retail property with high-traffic access near I-440 and US-1.
      2728 Capital Blvd, Raleigh, NC 27604
      View Details
    • Contact for pricing

      Retail and Medical Office Spaces

      Retail and medical spaces in Raleigh, estimated delivery Q3 2025.
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      Retail Space in Raleigh, NC

      Retail space available at Millbrook Collection in Raleigh, NC.
      4701 Atlantic Ave, Raleigh, NC 27604
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      1,600 SF

      Retail Center on Capital Boulevard

      36,000 SF retail center with high visibility.
      4229 Louisburg Rd, Raleigh, NC 27604
      View Details
    • $9,375 /Mo
      4,346 SF

      Dealership Space on Capital Boulevard

      4,346 SF dealership space with excellent visibility and signage.
      3333 Capital Blvd, Raleigh, NC 27604
      View Details
    • $25 SF/Yr

      Retail Space For Lease

      Retail space available for lease.
      2822 Capital Blvd, Raleigh, NC 27604
      View Details
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    Raleigh, NC 27604
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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.

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