Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1609 Old Louisburg Rd Raleigh, NC 27604-1376
    Property profile & analytics

    1609 Old Louisburg Rd, Raleigh, NC 27604-1376

    View on Map
    • Individual retail properties
    • 9,900 SF
    • 0.56 lot acres
    Off-Market
    Property ID
    US53-0868792
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Gracie Raleigh / Training Center / Sports School
    • Iron District Crossfit / Gym & Fitness Center

    Property Details for 1609 Old Louisburg Rd

    Year built
    2022
    Construction
    METAL FRAME
    Lot size
    0.56 lot acres
    Zone code
    IX-3
    Property type
    Individual retail properties
    APN
    1714.09-17-4354 0022449
    APU
    1714091743540022449

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Sep 9, 2021 — Garner Holdings INC — Deed · related $1.3M · Providence Bank
    Dec 20, 2019 $380,000 Garner Holdings INC Midtown Motors Of Nc INC Grant Deed · related $304k · Providence Bk
    Dec 6, 2018 $163,000 Midtown Motors Of Nc INC Huntland Properties LLC Warranty Deed $100k · Auto Dealers Investments INC
    Feb 16, 2018 $155,000 Huntland Properties LLC Midtown Industrial Park LLC Warranty Deed $116k · Paragon Bk
    Apr 17, 2015 — Midtown Industrial Park LLC Wilson David S & Sara Warranty Deed · related —
    Apr 13, 2015 $155,000 David S Wilson Beier Gregory J Warranty Deed —
    Dec 20, 2013 $95,000 Gregory J Beier Fisher,thomas G & Susan G Warranty Deed —
    Feb 11, 2008 — Thomas G Fisher Fisher,jean G Quit Claim Deed · related —

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Raleigh
    County
    Wake
    State
    North Carolina
    Longitude
    -78.6241
    Latitude
    35.8028
    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
    $17,342
    $219,546
    $1,371,503
    $1,591,049
    -
    $219,546
    $1,371,503
    $1,591,049

    Comparable in this City

    • Value Estimation
      $535,000
      12,138 SF

      800 Person St

      GYM, HEALTH SPA
      800 Person St, Raleigh, NC 27604-1218
      View Details
    • Value Estimation by Request
      3,100 SF

      800 Harp St

      GYM, HEALTH SPA
      800 Harp St, Raleigh, NC 27604
      View Details
    • Value Estimation by Request
      211,436 SF

      3901 Capital Blvd

      Individual retail properties
      3901 Capital Blvd, Raleigh, NC 27604
      View Details
    • Value Estimation
      $14,375,000
      129,115 SF

      3001 Calvary Dr

      RETAIL STORES (PERSONAL SERVICES)
      3001 Calvary Dr, Raleigh, NC 27604-2801
      View Details
    • Value Estimation by Request
      6,166 SF

      1595 Corporation Pkwy

      FINANCIAL BUILDING
      1595 Corporation Pkwy, Raleigh, NC 27604-4773
      View Details
    • Value Estimation by Request
      1,128 SF

      4008 Capital Blvd Ste, Unit 108

      RETAIL STORES (PERSONAL SERVICES)
      4008 Capital Blvd Ste, Raleigh, NC 27604-3476
      View Details

    Similar Nearby for Sale

    • $2,900,000

      Person Street Village Value-Add Acquisition

      Prime location in rapidly developing Person Street Village.
      711 N Person St, Raleigh, NC 27604
      View Details
    • Contact for pricing
      7,872 SF

      Raleigh Institutional Property on 4 Acres

      7,872 SF building on 4 acres in Northeast Raleigh.
      3500 Buffaloe Rd, Raleigh, NC 27604
      View Details
    • $125,000
      0.24 Acres

      Raleigh Land Opportunity

      0.24-acre lot in central Raleigh, build your dream home.
      3504 Skycrest Dr, Raleigh, NC 27604
      View Details
    • Contact for pricing

      Prime Multi-Family Development Land

      Development land available for multi-family construction.
      2309 Hill St, Raleigh, NC 27604
      View Details
    • Contact for pricing
      1,028 SF

      Prime Commercial Land Opportunity

      1.60 acre commercial property near Capital Blvd in Raleigh.
      3206 Old Buffaloe Rd, Raleigh, NC 27604
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      4,013 SF

      Retail Suites and Outparcel Available

      Retail suites and outparcel available for lease in Raleigh.
      3901 Capital Blvd, Raleigh, NC 27604
      View Details
    • Contact for pricing
      2,185 SF

      Premium ITB Retail Opportunity

      Retail space in Infinity Six Forks near Downtown Raleigh.
      900 East Six Forks Rd, Raleigh, NC 27604
      View Details
    • Contact for pricing

      Mixed-Use Space in Raleigh

      Retail and office spaces available in Raleigh, North Carolina.
      2201 Iron Works Dr, Raleigh, NC 27604
      View Details
    • Contact for pricing

      Retail and Medical Office Spaces

      Retail and medical spaces in Raleigh, estimated delivery Q3 2025.
      5100 Forestville Rd, Raleigh, NC 27604
      View Details
    • Contact for pricing

      Retail Space For Rent

      Retail space available for lease in Raleigh, North Carolina.
      11 West Franklin St, Raleigh, NC 27604
      View Details
    • Contact for pricing
      27,000 SF

      Downtown Raleigh Mixed-Use Retail Space

      Urban retail space in a high-profile downtown mixed-use project.
      10 W Franklin St, Raleigh, NC 27604
      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.
    1609 Old Louisburg Rd
    Raleigh, NC 27604-1376
    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
    1609 Old Louisburg Rd, Raleigh, NC, 27604
    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!