Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    1709 Lk Wheeler Rd Raleigh, NC 27603-2329
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1709 Lk Wheeler Rd Raleigh, NC 27603-2329

    View on Map
    • Grocery and convenience stores
    • 1,692 SF
    • 2.00 lot acres
    Off-Market
    Property ID
    US53-1366599
    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

    • ATM (Pit Stop) / Atm
    • Ameriking Food Mart / Grocery & Convenience Store
    • Exxon / Gas Station
    • King gas station / Gas Station
    • Bitstop Bitcoin ATM / Atm

    Property Details for 1709 Lk Wheeler Rd

    Year built
    1995
    Construction
    FRAME
    Lot size
    2.00 lot acres
    Property size
    1,692 SF
    Zone code
    IX-3
    Property type
    Grocery and convenience stores
    APN
    1703.17-01-6713 0042168
    APU
    1703170167130042168

    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
    -78.6608
    Latitude
    35.7601
    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
    $20,252
    $525,334
    $1,332,605
    $1,857,939
    -
    $525,334
    $1,332,605
    $1,857,939

    Comparable in this City

    • Value Estimation
      $985,000
      2,500 SF

      7200 Old Stage Rd

      GROCERY, SUPERMARKET • 2,500 SF
      7200 Old Stage Rd, Raleigh, NC 27603-5371
      View Details
    • Value Estimation
      $520,000
      2,400 SF

      3310 Olympia Dr

      GROCERY, SUPERMARKET • 2,400 SF
      3310 Olympia Dr, Raleigh, NC 27603-3402
      View Details
    • Value Estimation by Request
      2,088 SF

      5009 Fayetteville Rd, Unit LH

      GROCERY, SUPERMARKET • 2,088 SF
      5009 Fayetteville Rd, Raleigh, NC 27603-4127
      View Details
    • Value Estimation by Request
      2,000 SF

      10128 Old Stage Rd

      GROCERY, SUPERMARKET • 2,000 SF
      10128 Old Stage Rd, Raleigh, NC 27603-9559
      View Details
    • Value Estimation by Request
      2,400 SF

      2516 Saunders St

      GROCERY, SUPERMARKET • 2,400 SF
      2516 Saunders St, Raleigh, NC 27603-2844
      View Details
    • Value Estimation by Request
      1,152 SF

      2604 Saunders St

      GROCERY, SUPERMARKET • 1,152 SF
      2604 Saunders St, Raleigh, NC 27603-2840
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Retail Buildings For Sale

      Two freestanding retail buildings available for sale off US-401.
      3725 Banks Rd, Raleigh, NC 27603
      View Details
    • Contact for pricing

      Glenwood South Creative Office/Retail

      Creative office/retail space in the heart of Glenwood South.
      530 Hillsborough St, Raleigh, NC 27603
      View Details
    • New
      $699,900
      3,557 SF

      Commercial and Residential Opportunity

      Prime location with commercial building and residential home.
      9801 Ten-Ten 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
    • $75,000
      0.53 Acres

      Vacant Lot Near Downtown Raleigh

      Vacant lot in established subdivision, close to amenities.
      6825 Green Meadow Dr, Raleigh, NC 27603
      View Details
    • $105,000
      0.26 Acres

      Raleigh Land Opportunity

      Usable land, flat, partially cleared, ready for development.
      3115 Tryon Rd, Raleigh, NC 27603
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      34,027 SF

      Class A Retail Space Available

      Prime retail space in a high-visibility, well-anchored shopping center.
      6100-6180 Capital Blvd, Raleigh, NC 27603
      View Details
    • Contact for pricing

      Retail Space For Rent

      Retail space available for rent in Raleigh, North Carolina.
      122 Glenwood Ave, Raleigh, NC 27603
      View Details
    • Contact for pricing
      9,593 SF

      Retail Space Near Dorothea Dix

      Retail space in Raleigh, near Downtown and Dorothea Dix Park.
      27603 Usa, 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

      Retail Space For Rent

      Retail space available for lease in Raleigh, North Carolina.
      118 Small Pine Dr, Raleigh, NC 27603
      View Details
    • Contact for pricing

      Revitalized Shopping Center Space Available

      Retail spaces available in a vibrant, improving shopping center.
      Garner Station Blvd, 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.
    1709 Lk Wheeler Rd
    Raleigh, NC 27603-2329
    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!