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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    111 Seaboard Ave Raleigh, NC 27604-1151

    • Retail space
    • 10,302 SF
    • 0.89 lot acres
    OFF-MARKET
    Value Estimations
    $2,365,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-0072156
    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

    • Mon Macaron / Wine Bar / Dessert Shop
    • Cuttin Up Barber Studio / Barber Shop
    • SMITH & CO. HAIR SALON LLC / Hair Salon
    • Hunky Dory / Record Store / Bar
    • On The Fringe Hair Design / Hair Salon

    Property Details for 111 Seaboard Ave

    Year built
    1968
    Construction
    BRICK
    Lot size
    0.89 lot acres
    Property size
    10,302 SF
    Zone code
    DX-7
    Property type
    Retail space
    APN
    1704.19-62-6175 0011486
    APU
    1704196261750011486

    Description

    Seaboard Station, located at 111 Seaboard Ave, Raleigh, NC 27604, offers a prime retail opportunity in Wake County. This strip center comprises 4,633 square feet, divided into three suites, perfect for multiple tenants. Currently, 3,724 square feet are available for lease, with individual suite sizes ranging from a minimum of 1,033 square feet to a maximum contiguous space of 1,541 square feet. The property is ideally suited for retail or restaurant businesses seeking high visibility and convenient access. Ample parking is available directly in front of the building, supplemented by readily available two-hour street parking. The property's location in Raleigh, North Carolina, provides excellent access to a thriving local market and strong consumer base. This is an exceptional chance to establish or expand your business in a well-situated and attractive retail space. The property type is classified as Retail and Restaurant, and the property is categorized as a Strip Center. Interested parties should inquire about lease terms and availability. The property's latitude and longitude coordinates are 35.7885693 and -78.6402358 respectively.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,870,000
      6.5%
      $2,650,000
      7%
      $2,460,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $2,288,000
      Market price range: $803k - $2.29M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $2,330,000
      Current use
      COMMERCIAL (GENERAL)
      $3,340,000
      Change: +43% Conversion: Easy
      MEDICAL BUILDING
      $3,250,000
      Change: +39% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $3,040,000
      Change: +30% Conversion: Difficult
      WAREHOUSE, STORAGE
      $2,335,000
      Change: +0% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Raleigh
    County
    Wake
    State
    North Carolina
    Longitude
    -78.6402
    Latitude
    35.7886
    CBSA code
    39580
    CBSA name
    RALEIGH-CARY, NC METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $44,919
    $2,368,725
    $1,752,319
    $4,121,044
    -
    $2,368,725
    $1,752,319
    $4,121,044

    Comparable in this City

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      4416 Saint James Church Rd

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    • Value Estimation
      $1,100,000
      6,234 SF

      121 Seaboard Ave

      RETAIL STORES (PERSONAL SERVICES) • 6,234 SF
      121 Seaboard Ave, Raleigh, NC 27604-1145
      View Details
    • Value Estimation by Request
      1,200 SF

      4030 Capital Blvd Ste, Unit 113

      RETAIL STORES (PERSONAL SERVICES) • 1,200 SF
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    • Value Estimation
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      19,200 SF

      1731 Trawick Rd

      RETAIL STORES (PERSONAL SERVICES) • 19,200 SF
      1731 Trawick Rd, Raleigh, NC 27604-4395
      View Details
    • Value Estimation
      $580,000
      2,392 SF

      709 Person St

      RETAIL STORES (PERSONAL SERVICES) • 2,392 SF
      709 Person St, Raleigh, NC 27604-1215
      View Details

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    111 Seaboard Ave
    Raleigh, NC 27604-1151
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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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