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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    220 Hillsborough St Raleigh, NC 27603-1724

    • Investment properties
    • 7,116 SF
    • 0.26 lot acres
    OFF-MARKET
    Value Estimations
    $2,000,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-1567443
    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

    • African American Caucus- North Carolina Democratic Party / Political Party Office
    • NCDP Headquarters Goodwin House / Political Party Office
    • ROI Marketing Pvt. Ltd - Digital Marketing Service / Marketing Agency

    Property Details for 220 Hillsborough St

    Year built
    1903
    Construction
    FRAME
    Lot size
    0.26 lot acres
    Property size
    7,116 SF
    Zone code
    DX-5
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    1703.25-59-9380 0065440
    APU
    1703255993800065440

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,565,000
      6.5%
      $1,445,000
      7%
      $1,340,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,889,000
      Market price range: $685k - $1.95M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $2,870,000
      Current use
      OFFICE BUILDING
      $2,350,000
      Change: -18% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Raleigh
    County
    Wake
    State
    North Carolina
    Longitude
    -78.6427
    Latitude
    35.7808
    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
    $18,120
    $2,267,465
    $877,674
    $3,145,139
    -
    $2,267,465
    $877,674
    $3,145,139

    Comparable in this City

    • Value Estimation
      $650,000
      3,376 SF

      120 Boylan Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 3,376 SF
      120 Boylan Ave, Raleigh, NC 27603-1802
      View Details
    • Value Estimation by Request
      2,299 SF

      113 Boylan Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 2,299 SF
      113 Boylan Ave, Raleigh, NC 27603-1422
      View Details
    • Value Estimation by Request
      1,160 SF

      610 Johnson St

      OFFICE/RESIDENTIAL (MIXED USE) • 1,160 SF
      610 Johnson St, Raleigh, NC 27603-1228
      View Details
    • Value Estimation
      $2,670,000
      13,300 SF

      220 Snow Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 13,300 SF
      220 Snow Ave, Raleigh, NC 27603-1535
      View Details
    • Value Estimation
      $1,545,000
      1,466 SF

      1107 Fuller St

      OFFICE/RESIDENTIAL (MIXED USE) • 1,466 SF
      1107 Fuller St, Raleigh, NC 27603-2217
      View Details
    • Value Estimation by Request
      1,872 SF

      2411 Lk Wheeler Rd

      OFFICE/RESIDENTIAL (MIXED USE) • 1,872 SF
      2411 Lk Wheeler Rd, Raleigh, NC 27603-2681
      View Details

    Similar Nearby for Sale

    • $5,500,000
      8.44 Acres

      Prime Development Land in Raleigh

      8+ acres near Downtown Raleigh, NC State, and I-40.
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    • Contact for pricing
      0.68 Acres

      Downtown Raleigh Mixed-Use Opportunity

      Prime Glenwood South location, high-potential development
      618 Hillsborough St, Raleigh, NC 27603
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    • $4,797,000
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      Raleigh Mixed-Use Development Land

      12.3 Acres, Hwy 401 Frontage, Prime Location
      7608 Fayetteville Rd, Raleigh, NC 27603
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    • $2,400,000
      10.00 Acres

      Raleigh Land: Prime Location

      10-acre parcel suitable for residential, commercial, or special use.
      408 Johnston Rd, Raleigh, NC 27603
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    • $4,500,000
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      Downtown Raleigh Retail Duo

      Prime location, high-growth area.
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    • $75,000
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      Vacant Lot Near Downtown Raleigh

      Vacant lot in established subdivision, close to amenities.
      6825 Green Meadow Dr, Raleigh, NC 27603
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    Similar Nearby for Lease

    • $22 SF/Yr
      34,290 SF

      Downtown Raleigh Office Space

      Class A Office Suites, Flexible Sizes
      223 West St, Raleigh, NC 27603
      View Details
    • $17 SF/Yr
      12,000 SF

      Raleigh Flex/Warehouse Space Available

      12,000 SF Industrial Space for Lease
      3101 Garner Station Blvd, Raleigh, NC 27603
      View Details
    • Contact for pricing
      10,024 SF

      Raleigh Executive Office Suites

      Prime Raleigh Office Space Available
      743 Johnson St, Raleigh, NC 27603
      View Details
    • $33 SF/Yr
      79,588 SF

      Frontier Plaza: Raleigh Retail Space

      High-visibility retail space in prime Raleigh location.
      3900 Fayetteville Rd, Raleigh, NC 27603
      View Details
    • $17 SF/Yr
      2,500 SF

      Raleigh Flex/Industrial Space Available

      Flex/industrial space available for lease in Raleigh, North Carolina.
      2204-2208 Associate Dr, Raleigh, NC 27603
      View Details
    • Contact for pricing
      108,840 SF

      Modern Office Space Available

      Newly built-out office space with modern finishes for rent.
      621 Hillsborough St, Raleigh, NC 27603
      View Details
    Request Owner's contact information
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    220 Hillsborough St
    Raleigh, NC 27603-1724
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    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
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