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

    2297 Wendell Fls Pkwy Wendell, NC 27591-6755

    • Drive through restaurants
    • 2,313 SF
    • 1.32 lot acres
    OFF-MARKET
    Last Sale
    Jan 06, 2022
    $1,075,000
    Value Estimations
    $1,165,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-4946331
    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

    • Drive through restaurants

    Property Details for 2297 Wendell Fls Pkwy

    Year built
    2022
    Construction
    FRAME
    Lot size
    1.32 lot acres
    Property size
    2,313 SF
    Zone code
    PUD-15-1
    Property type
    Drive through restaurants
    APN
    1763.02-79-2180 0453636
    APU
    1763027921800453636

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,245,000
      ML approach
      $1,260,000

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $1,250,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $1,275,000
      Change: +2% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Wendell
    County
    Wake
    State
    North Carolina
    Longitude
    -78.436
    Latitude
    35.7795
    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
    $19,342
    $719,313
    $828,433
    $1,547,746
    -
    $719,313
    $828,433
    $1,547,746

    Comparable in this City

    • Value Estimation
      $650,000
      5,494 SF

      2900 Wendell Blvd

      DRIVE-THRU RESTAURANT, FAST FOOD • 5,494 SF
      2900 Wendell Blvd, Wendell, NC 27591-6992
      View Details
    • Value Estimation by Request
      4,718 SF

      2232 Wendell Fls Pkwy

      DRIVE-THRU RESTAURANT, FAST FOOD • 4,718 SF
      2232 Wendell Fls Pkwy, Wendell, NC 27591-6755
      View Details
    • Value Estimation
      $555,000
      3,202 SF

      2877 Wendell Blvd

      DRIVE-THRU RESTAURANT, FAST FOOD • 3,202 SF
      2877 Wendell Blvd, Wendell, NC 27591-6904
      View Details
    • Value Estimation by Request
      1,578 SF

      2901 Nc 97th Hwy

      NIGHTCLUB (COCKTAIL LOUNGE) • 1,578 SF
      2901 Nc 97th Hwy, Wendell, NC 27591-9322
      View Details
    • Value Estimation by Request
      5,700 SF

      18 3rd St

      RESTAURANT • 5,700 SF
      18 3rd St, Wendell, NC 27591
      View Details
    • Value Estimation
      $2,260,000
      8,762 SF

      1505 Banyon Pl

      RETAIL STORES (PERSONAL SERVICES) • 8,762 SF
      1505 Banyon Pl, Wendell, NC 27591
      View Details

    Similar Nearby for Sale

    • $6,695,116
      10.38 Acres

      Wendell Commercial Land - 10.38 Acres

      Prime Commercial Land, Wendell, NC
      0 Kioti Dr, Wendell, NC 27591
      View Details
    • $499,000
      1,520 SF

      Historic Wendell Barbershop Opportunity

      Iconic barbershop in revitalizing downtown Wendell with rental income potential.
      18 N Main St, Wendell, NC 27591
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    • $695,000
      2.90 Acres

      Wendell Commercial Land - $695K

      2.9-acre commercial lot, prime Wendell location.
      2451 Wendell Blvd, Wendell, NC 27591
      View Details
    • $200,000
      Pending

      Wendell, NC Land For Sale

      8.65 acre land parcel in Wendell, North Carolina.
      Lizard Lick Rd, Wendell, NC 27591
      View Details
    • $1,750,000
      13.00 Acres

      Wendell Land Parcel with Income

      13-acre Wendell parcel with income-generating cell tower easement.
      1127 Edgemont Rd, Wendell, NC 27591
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    • $249,900
      4.02 Acres

      Wooded Lot Near Wendell Falls

      4.02-acre wooded lot near Wendell Falls, no HOA, no city taxes.
      1200 Lake Wendell Rd, Wendell, NC 27591
      View Details

    Similar Nearby for Lease

    • $5,866 /Mo
      3,126 SF

      Wendell Commercial Property For Rent

      Historic corner property in downtown Wendell, suitable for retail or office.
      101 S Main St, Wendell, NC 27591
      View Details
    • Contact for pricing
      38,800 SF

      Retail Center at Wendell Falls

      Retail spaces available in Lowes Foods anchored shopping center.
      1236 Wendell Fls Pkwy, Wendell, NC 27591
      View Details
    • Contact for pricing
      2 SF

      Wendell Commerce Center Outparcels

      Retail land, prime location, high traffic.
      0 Wendell Blvd, Wendell, NC 27591
      View Details
    • Contact for pricing
      10,310 SF

      Retail Property in Wendell, NC

      Retail property available for lease in Wendell, North Carolina.
      Taylor Rd, Wendell, NC 27591
      View Details
    • Contact for pricing
      82,000 SF

      Wendell, NC Industrial Flex Space

      Class A flex/warehouse space available. Multiple units, high power.
      716 Old Battle Bridge Rd, Wendell, NC 27591
      View Details
    • $624,360
      106,000 SF

      Wendell NC Commercial Space Available

      60,000+ SF manufacturing/R&D space for lease near Raleigh.
      951 Wendell Blvd, Wendell, NC 27591
      View Details
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    Wendell, NC 27591-6755
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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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