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    Property profile & analytics

    Garner Station Blvd Raleigh, NC 27603

    • Retail properties
    • 310,297 SF
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties

    Property Details for 0 Garner Station Blvd

    Property size
    310,297 SF
    Property type
    Retail properties

    Description

    This exceptional retail opportunity is located in the vibrant North & South Station Shopping Center in Raleigh, NC, at Garner Station Blvd, zip code 27603. The center boasts a total of 310,297 square feet and features a diverse mix of national and local tenants, creating a thriving retail environment. Currently, there are 23,200 square feet of vacant space available, divisible into units ranging from a minimum of 1,000 square feet to a maximum contiguous space of 7,600 square feet. The property is zoned CMX, offering flexibility for a variety of retail uses. The center's strategic location provides convenient access for both tenants and customers, with proximity to downtown Raleigh enhancing its appeal. The eight existing suites within the shopping center contribute to a strong and established tenant base. This property presents a unique chance to establish or expand a retail presence in a high-traffic, well-established shopping center in a desirable Raleigh location. The available space offers significant potential for businesses seeking a prominent location with excellent visibility and accessibility. Interested parties should inquire about the specific details of available spaces and lease terms.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Raleigh
    County
    Johnston
    State
    North Carolina
    Longitude
    -78.6547
    Latitude
    35.7253

    Comparable in this City

    • Value Estimation by Request
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      Lifestyle centers • 281,750 SF
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      4,808 SF

      400 North St

      Individual retail properties • 4,808 SF
      400 North St, Raleigh, NC 27603
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    • Value Estimation by Request
      160,576 SF

      400 Hillsborough St

      Individual retail properties • 160,576 SF
      400 Hillsborough St, Raleigh, NC 27603
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    • Value Estimation by Request
      36,868 SF

      3950 Junction Blvd

      Automotive properties • 36,868 SF
      3950 Junction Blvd, Raleigh, NC 27603
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    • Value Estimation
      $1,630,000
      10,934 SF

      117 St

      RETAIL STORES (PERSONAL SERVICES) • 10,934 SF
      117 St, Raleigh, NC 27603-1833
      View Details
    • Value Estimation by Request
      864 SF

      618 Hillsborough St

      DRIVE-THRU RESTAURANT, FAST FOOD • 864 SF
      618 Hillsborough St, Raleigh, NC 27603-1732
      View Details

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    Garner Station Blvd
    Raleigh, NC 27603
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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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