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Property profile & analytics
OFF-MARKET
Estimated value
$3,370,000
Office buildings
1720 Hillsborough St, Raleigh, NC 27605-1785
Entity Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US53-0403909
Property summary
AI-generated overview
This exceptional executive office building, located at 1720 Hillsborough Street in Raleigh, North Carolina, offers 8,740 square feet of premium office space. Currently, there are 6,296 square feet available for lease, perfect for a growing business or multiple tenants seeking a prestigious address in Wake County. The building features a multi-tenant configuration, providing flexibility for various business needs. On-site parking is a significant advantage, with 15 spaces included for the convenience of tenants and their clients. The property is classified as an executive office building, reflecting its high-quality construction and finishes. Its strategic location in Raleigh, NC, zip code 27605, provides easy access to major transportation routes and a vibrant business community. This is an unparalleled opportunity to secure a prominent location for your business operations in a highly sought-after area. The available space is immediately ready for occupancy, allowing for a quick and seamless transition. This property presents a rare chance to establish a strong presence in the heart of Raleigh's thriving business district. The building's size and ample parking make it an ideal choice for companies seeking a comfortable and efficient workspace. Don't miss this chance to secure your business's future in this exceptional location.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1968
Construction
CONCRETE
Total area
18,222 SF
Lot
0.72 ac (31,363 SF)
Zoning code
OX-3
APN
1704.17-01-7091 0121302
UPID
US53-0403909
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Vann Attorneys, PLLC Law Firm
-
Sterling Title Co Title Company
-
IRIS Technologies Consultant
-
Catholic Campus Ministry Church Mosque
-
Montagnard Human Rights Social Service Agency Charitable Organization
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.36M
CAP Approach
CAP
$4.14M
Comparable Approach
Comparable
$3.11M
Blend (final)
Blend
$3.37M
Owner & transaction history
Dk Holt Hillsborough Street LLC · 4 yrs held
Dk Holt Hillsborough Street LLC
since 2022
Last sale
$3.4M
7 recorded transactions
Zoning & alternative use
OX-3 · Raleigh, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$5.4M
+51.1%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Raleigh submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Raleigh submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$3,330,000
ML approach
$3,360,000
CAP Approach
CAP Return
Estimation
6%
$4,490,000
6.5%
$4,140,000
7%
$3,845,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$3,555,000
Current use
AUTO REPAIR, GARAGE
$5,375,000
Change: +51% · Conversion: Difficult
Blend value · Realmo final
$3.37M
Range $3.03M – $3.71M · ±10% · vs last sale $3.40M (Jul 1 2022)
Last sale anchor
$3.40M
Jul 1 2022
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$185 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$56,599
Tax year 2024
Assessed value
$5,668,360
Assessed 2024
Previous assessed
$5,668,360
+0.0% YoY
Effective rate
1.00%
On assessed value
Assessed land
$3,033,696
Assessed improvement
$2,634,664
Land market value
$3,033,696
Improvement market value
$2,634,664
Total market value
$5,668,360
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1968
Construction
CONCRETE
Heating
CENTRAL
Cooling
CENTRAL
Stories
3
Total area
18,222 SF
Lot
0.72 ac (31,363 SF)
Zoning code
OX-3
APN
1704.17-01-7091 0121302
UPID
US53-0403909
Jurisdiction
WAKE
Zoning & alternative use
OX-3 · Raleigh, NC
Zoning OX-3 · permitted uses
OX-3 · Raleigh, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Raleigh. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$3.6M
AUTO REPAIR, GARAGE
Est. value
$5.4M
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1968
Construction
CONCRETE
Heating
CENTRAL
Cooling
Yes
Stories
3
Lot
0.72 ac
Current owner
From public records · entity-resolved
Dk Holt Hillsborough Street LLC
Entity
Mailing address
1700 HILLSBOROUGH ST, RALEIGH, NC 27605-1641
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 1, 2022
—
Dk Holt Hillsborough Street LLC
Alan Preiss Kirk
Quit Claim Deed
$3,000,000 · First Horizon Bank
May 25, 2021
—
Alex E Gazaway
—
Deed
related
$100,000 · Charlene Gazaway
Aug 1, 2017
$3,400,000
Kirk A Preiss
Buster Brown Properties LLC
Grant Deed
$3,400,000 · Branch Bk&tr
Aug 1, 2017
—
Kirk A Preiss
Buster Brown Properties LLC
Grant Deed
related
$3,400,000 · Branch Bk&tr
Jan 17, 2017
—
Buster Brown Properties LLC
—
Deed
related
$1,030,000 · Paragon Com'l Bk
—
—
Buster Brown Properties LLC
—
Deed Of Trust
related
$1,134,471 · Capital Bank NA
—
—
Buster Brown Properties LLC
—
Deed Of Trust
related
$1,030,000 · Paragon Com'l Bk
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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