Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    117 Glenwood Ave Raleigh, NC 27603-1703
    Back to Search
    Property profile & analytics

    117 Glenwood Ave, Raleigh, NC 27603-1703

    View on Map
    • Investment properties
    • 2,464 SF
    • 0.23 lot acres
    Off-Market
    Last Sale Jun 12, 2020
    $975,000
    Property ID
    US53-1690145
    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.
    Value Estimations
    $1,010,000
    Show details
    Cap Rate Potential
    2.5%
    Investment properties
    Location Intelligence

    Current Use by Public Records

    • Law Office of Jeanne H. Washburn / Law Firm
    • Nerd Escape Room Raleigh / Resort

    Property Details for 117 Glenwood Ave

    Year built
    1920
    Construction
    FRAME
    Lot size
    0.23 lot acres
    Zone code
    DX-3
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    1703.06-49-3883 0027366
    APU
    1703064938830027366

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jan 28, 2026 — Tahssili Real Estate Ventures LLC — Deed · related $1.3M · Townebank
    Jan 2, 2025 — Tahssili Real Estate Ventures LLC — Deed · related $1M · Townebank
    Jun 12, 2020 $975,000 Tahssili R & E Ventures LLC Gregory L Seibert Warranty Deed $829k · Farmers & Merchants Nat'l Bk
    — — Gregory L Seibert — Deed Of Trust · related $100k · First Citizens Bank & Trust Co

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,280,000
      ML approach
      $1,325,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,399,000
      Market price range: $519k - $1.46M
      AI Estimate
      $615,000
      Market price range: $237k - $675k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $995,000
      Current use
      RETAIL STORES
      $1,375,000
      Change: +38% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $1,360,000
      Change: +37% Conversion: Difficult
      OFFICE BUILDING
      $815,000
      Change: -18% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Raleigh
    County
    Wake
    State
    North Carolina
    Longitude
    -78.6479
    Latitude
    35.7823
    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
    $11,981
    $911,729
    $113,495
    $1,025,224
    -
    $911,729
    $113,495
    $1,025,224

    Comparable in this City

    • Value Estimation
      $1,270,000
      6,515 SF

      900 Morgan St

      OFFICE/RESIDENTIAL (MIXED USE)
      900 Morgan St, Raleigh, NC 27603-1512
      View Details
    • Value Estimation by Request
      2,820 SF

      705 Wn St

      OFFICE/RESIDENTIAL (MIXED USE)
      705 Wn St, Raleigh, NC 27603-2192
      View Details
    • Value Estimation
      $1,340,000
      6,081 SF

      119 Boylan Ave

      OFFICE/RESIDENTIAL (MIXED USE)
      119 Boylan Ave, Raleigh, NC 27603-1422
      View Details
    • Value Estimation
      $1,030,000
      4,442 SF

      1117 Hillsborough St

      OFFICE/RESIDENTIAL (MIXED USE)
      1117 Hillsborough St, Raleigh, NC 27603-1505
      View Details
    • Value Estimation
      $2,225,000
      996 SF

      2717 Renfrow Rd

      OFFICE/RESIDENTIAL (MIXED USE)
      2717 Renfrow Rd, Raleigh, NC 27603-2833
      View Details
    • Value Estimation
      $1,200,000
      1,747 SF

      221 Glenwood Ave

      OFFICE/RESIDENTIAL (MIXED USE)
      221 Glenwood Ave, Raleigh, NC 27603-1404
      View Details

    Similar Nearby for Sale

    • New
      $4,500,000
      9,062 SF

      Live-Work Townhome Community

      Six townhomes with private garages and flex office space set for move-in readiness in Summer/Fall 2026.
      720 Noble Town Way, Raleigh, NC 27603
      View Details
    • Contact for pricing

      Raleigh Development Opportunity: 8+ Acres

      Prime development land near Downtown Raleigh, NC State University.
      1501 Carolina Pines Ave, Raleigh, NC 27603
      View Details
    • Contact for pricing

      1.21 Acre Wooded Lot

      Wooded 1.21-acre lot near major intersection and I-540.
      7625 Fayetteville St, Raleigh, NC 27603
      View Details
    • Contact for pricing

      10 Acres Development Opportunity

      10-acre parcel near Raleigh with development potential and pond.
      8001 Caddy Rd, Raleigh, NC 27603
      View Details
    • Contact for pricing

      Retail Space for Salon Use

      Retail space available for salon, barber, or nail salon.
      3200 S Wilmington St, Raleigh, NC 27603
      View Details
    • Contact for pricing

      Commercial Parcel in Multi-Use Development

      Commercial land available for ground lease, purchase, or build-to-suit.
      16001 Royal Creek Dr, Raleigh, NC 27603
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Freestanding Flex Building Near Beltline

      Single-tenant flex building with office and warehouse space for rent.
      2815 S Wilmington St, Raleigh, NC 27603
      View Details
    • Contact for pricing
      29,201 SF

      Glenwood South Retail Space

      Retail space for rent in the heart of Glenwood South.
      410 Glenwood Ave, Raleigh, NC 27603
      View Details
    • Contact for pricing

      Creative Workspace in Downtown Raleigh

      Creative working space in Raleigh's vibrant Warehouse District.
      223 S West St, Raleigh, NC 27603
      View Details
    • Contact for pricing
      2,577 SF

      Retail/Office Buildings in Royal Creek

      Retail and office spaces available in Royal Creek development.
      10 10 Rd & Daddy Rd, Raleigh, NC 27603
      View Details
    • Contact for pricing

      Spaces The Dillon

      Find fully flexible work and meeting space in Spaces The Dillon
      223 West St, Raleigh, NC 27603
      View Details
    • New
      $2,310 /Mo
      924 SF

      Two Retail Storefronts with Loft Office

      Two street-facing storefronts plus an upstairs loft office with a separate entrance and convenient driveway parking access.
      1512 S Saunders St, Raleigh, NC 27603
      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.
    117 Glenwood Ave
    Raleigh, NC 27603-1703
    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
    117 Glenwood Ave, Raleigh, NC, 27603
    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!