Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1308 Person St Raleigh, NC 27601

    • Warehouses
    • 7,560 SF
    • 0.19 lot acres
    OFF-MARKET
    Value Estimations
    $735,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-4085210
    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

    • Warehouses

    Property Details for 1308 Person St

    Year built
    1971
    Construction
    METAL FRAME
    Lot size
    0.19 lot acres
    Property size
    7,560 SF
    Zone code
    IX-3
    Property type
    Warehouses
    APN
    1703.16-83-0201 0433788
    APU
    1703168302010433788

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $465,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $980,000
      6.5%
      $905,000
      7%
      $840,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $464,000
      Market price range: $464k - $1.30M

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

    Location Insight

    • Map
    • Local Demand
    City
    Raleigh
    County
    Wake
    State
    North Carolina
    Longitude
    -78.6359
    Latitude
    35.7641
    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
    $3,794
    $190,679
    $157,369
    $348,048
    -
    $190,679
    $157,369
    $348,048

    Comparable in this City

    • Value Estimation
      $11,010,000
      68,886 SF

      410 Ws St

      MINI-WAREHOUSE, STORAGE • 68,886 SF
      410 Ws St, Raleigh, NC 27601-2137
      View Details
    • Value Estimation by Request
      1,958 SF

      303 St

      WAREHOUSE, STORAGE • 1,958 SF
      303 St, Raleigh, NC 27601-1960
      View Details
    • Value Estimation
      $525,000
      4,608 SF

      329 Martin St

      WAREHOUSE, STORAGE • 4,608 SF
      329 Martin St, Raleigh, NC 27601-1352
      View Details
    • Value Estimation
      $1,400,000
      14,256 SF

      300 Hoke St

      WAREHOUSE, STORAGE • 14,256 SF
      300 Hoke St, Raleigh, NC 27601-2637
      View Details
    • Value Estimation
      $1,705,000
      16,284 SF

      101 Authority Ln

      WAREHOUSE, STORAGE • 16,284 SF
      101 Authority Ln, Raleigh, NC 27601-2639
      View Details
    • Value Estimation by Request
      3,360 SF

      1328 Blount St

      WAREHOUSE, STORAGE • 3,360 SF
      1328 Blount St, Raleigh, NC 27601
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      25,000 SF

      Downtown Warehouse with Development Potential

      1.05-acre property with warehouse, parking, and development opportunities.
      301 W Cabarrus St, Raleigh, NC 27601
      View Details
    • $895,000
      2,025 SF

      Raleigh Commercial Building Near Downtown

      2,025 SF commercial building near Downtown Raleigh for sale.
      405 Morson St, Raleigh, NC 27601
      View Details
    • Contact for pricing
      2,025 SF

      Downtown Raleigh Commercial Building

      2,025 SF commercial building near Downtown Raleigh for sale.
      405 Morson St, Raleigh, NC 27601
      View Details
    • New
      $375,000
      0.18 Acres

      Downtown Raleigh Land Opportunity

      0.18-acre lot in downtown Raleigh with redevelopment potential.
      207 Bladen St, Raleigh, NC 27601
      View Details
    • Contact for pricing

      Office Building Near Downtown Raleigh

      Office building with parking and storage near downtown Raleigh.
      817 New Bern Ave, Raleigh, NC 27601
      View Details
    • $400,000

      Downtown Raleigh Commercial Development Opportunity

      Rare 10.21-acre commercial development site in Downtown Raleigh.
      1250 South Person St, Raleigh, NC 27601
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Raleigh City Plaza

      Discover many ways to work your way in Raleigh City Plaza
      421 Fayetteville St, Raleigh, NC 27601
      View Details
    • Contact for pricing

      NC, Raleigh - Fayetteville St

      Workspaces, services and support to help you grow your business in NC, Raleigh - Fayetteville St
      414 Fayetteville St, Raleigh, NC 27601
      View Details
    • Contact for pricing

      Versatile Global Coworking and Office Space

      Flexible workspaces with options for offices, coworking, and virtual services.
      414 Fayetteville St, Raleigh, NC 27601
      View Details
    • Contact for pricing

      Retail Space For Lease

      Retail space available for lease in Raleigh, North Carolina.
      400 Fayetteville St, Raleigh, NC 27601
      View Details
    • Contact for pricing

      Office Space with City Plaza Views

      11th-floor office space in Raleigh's central business district.
      421 Fayetteville St, Raleigh, NC 27601
      View Details
    • Contact for pricing

      Downtown Office Space for Rent

      Industrial-modern office space in downtown Raleigh with secure elevator access.
      107 Fayetteville St, Raleigh, NC 27601
      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.
    1308 Person St
    Raleigh, NC 27601
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!