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    2601 Blue Rdg Rd Raleigh, NC 27607-0111
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    Property profile & analytics

    2601 Blue Rdg Rd Raleigh, NC 27607-0111

    View on Map
    • Retail space
    • 9,400 SF
    • 0.97 lot acres
    Off-Market
    Property ID
    US53-1648646
    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
    $2,310,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Wellness Pharmacy and Compounding Center / Pharmacy
    • Erich A. Engel, PharmD / Pharmacy
    • Blue Ridge Eye Center / Physician
    • Bob Morris Opticians / Ophthalmologist / (Bike/Boat/Book/etc) Store
    • Raleigh Medical Supply LLC / Medical Supply Store

    Property Details for 2601 Blue Rdg Rd

    Year built
    1993
    Construction
    BRICK
    Lot size
    0.97 lot acres
    Property size
    9,400 SF
    Zone code
    NX-3
    Property type
    Retail space
    APN
    0785.19-71-2956 0195508
    APU
    785197129560195508

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,620,000
      6.5%
      $2,420,000
      7%
      $2,245,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,582,000
      Market price range: $672k - $1.87M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $3,695,000
      Current use
      COMMERCIAL (GENERAL)
      $3,050,000
      Change: -17% Conversion: Easy
      MEDICAL BUILDING
      $2,965,000
      Change: -20% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Raleigh
    County
    Wake
    State
    North Carolina
    Longitude
    -78.7058
    Latitude
    35.8158
    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
    $25,495
    $730,132
    $1,608,903
    $2,339,035
    -
    $730,132
    $1,608,903
    $2,339,035

    Comparable in this City

    • Value Estimation
      $1,160,000
      6,052 SF

      2420 Hillsborough St

      STORE, RETAIL OUTLET • 6,052 SF
      2420 Hillsborough St, Raleigh, NC 27607-7248
      View Details
    • Value Estimation
      $3,965,000
      18,380 SF

      4035 Lk Boone Trl, Unit 101

      RETAIL STORES (PERSONAL SERVICES) • 18,380 SF
      4035 Lk Boone Trl, Raleigh, NC 27607-2800
      View Details
    • Value Estimation
      $530,000
      3,300 SF

      3050 Medlin Dr

      RETAIL STORES (PERSONAL SERVICES) • 3,300 SF
      3050 Medlin Dr, Raleigh, NC 27607-6628
      View Details
    • Value Estimation
      $1,860,000
      12,159 SF

      608 Germantown Rd

      RETAIL STORES (PERSONAL SERVICES) • 12,159 SF
      608 Germantown Rd, Raleigh, NC 27607-5144
      View Details
    • Value Estimation by Request
      3,600 SF

      2704 Hillsborough St

      RETAIL STORES (PERSONAL SERVICES) • 3,600 SF
      2704 Hillsborough St, Raleigh, NC 27607-7133
      View Details
    • Value Estimation by Request
      1,353 SF

      3823 Hillsborough St

      STORE, RETAIL OUTLET • 1,353 SF
      3823 Hillsborough St, Raleigh, NC 27607-5236
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      7,800 SF

      Retail Space Near NC State

      Retail space near NC State's campus with development potential.
      2510 Hillsborough St, Raleigh, NC 27607
      View Details
    • $1,595,000

      Historic Multifamily Building in Raleigh

      Four-unit multifamily property near NC State and Downtown Raleigh.
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      Residential Land in Prime Location

      0.41-acre lot with potential to build custom dream house.
      3304 Red Bud St, Raleigh, NC 27607
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      Land Opportunity with Custom Build

      Land available for custom pre-sale in Raleigh, North Carolina.
      2112 Saint James Rd, Raleigh, NC 27607
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      Renovated Class A Office Building

      Class A office building in West Raleigh, convenient location.
      1201 Edwards Mill Rd, Raleigh, NC 27607
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      1,363 SF

      Prime Land Near State Fairgrounds

      Two adjacent parcels ideal for development near NC State Fairgrounds.
      103 Gary St, Raleigh, NC 27607
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    Similar Nearby for Lease

    • Contact for pricing
      3,851 SF

      Retail Space in West Raleigh

      Prime ground floor retail space in the heart of West Raleigh.
      5435 Wade Park Blvd, Raleigh, NC 27607
      View Details
    • Contact for pricing
      4,988 SF

      Retail Space Near NC State

      Retail space available adjacent to North Carolina State University.
      2526 Hillsborough St, Raleigh, NC 27607
      View Details
    • Contact for pricing

      Retail Space for Lease

      Retail property available for lease in Raleigh, North Carolina.
      4025 Lake Boone Trl, Raleigh, NC 27607
      View Details
    • Contact for pricing
      48,445 SF

      Office Space with On-Site Amenities

      Office space with cafe, fitness center, and collaborative meeting spaces.
      5400 Trinity Rd, Raleigh, NC 27607
      View Details
    • Contact for pricing

      Class A Office Building Lease

      Class A office building available for lease.
      1511 Sunday Dr, Raleigh, NC 27607
      View Details
    • $33 SF/Yr
      15,458 SF

      Class A Office Building

      Four-story office building in a mixed-use community for rent.
      2235 Gateway Access Pt, Raleigh, NC 27607
      View Details
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    Raleigh, NC 27607-0111
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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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