Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2709 Western Blvd Raleigh, NC 27606-2127

    • Gas stations
    • 1,894 SF
    • 0.34 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-0987205
    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

    • Mission Valley Service Station / Auto Repair Shop

    Property Details for 2709 Western Blvd

    Year built
    1959
    Construction
    BRICK
    Lot size
    0.34 lot acres
    Property size
    1,894 SF
    Zone code
    IX-3
    Property type
    Gas stations
    APN
    0793.07-59-9263 0055293
    APU
    793075992630055293

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Raleigh
    County
    Wake
    State
    North Carolina
    Longitude
    -78.6764
    Latitude
    35.7807
    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
    $4,888
    $370,546
    $77,909
    $448,455
    -
    $370,546
    $77,909
    $448,455

    Comparable in this City

    • Value Estimation
      $1,020,000
      162,400 SF

      914 Partners Way

      PARKING GARAGE, PARKING STRUCTURE • 162,400 SF
      914 Partners Way, Raleigh, NC 27606
      View Details
    • Value Estimation
      $1,040,000
      162,400 SF

      851 Partners Way

      PARKING GARAGE, PARKING STRUCTURE • 162,400 SF
      851 Partners Way, Raleigh, NC 27606
      View Details
    • Value Estimation
      $745,000
      2,000 SF

      3908 Western Blvd

      AUTO REPAIR, GARAGE • 2,000 SF
      3908 Western Blvd, Raleigh, NC 27606-1937
      View Details
    • Value Estimation
      $955,000
      106,874 SF

      1801 Varsity Dr

      PARKING GARAGE, PARKING STRUCTURE • 106,874 SF
      1801 Varsity Dr, Raleigh, NC 27606-2072
      View Details
    • Value Estimation by Request
      1,936 SF

      3925 Western Blvd

      AUTO REPAIR, GARAGE • 1,936 SF
      3925 Western Blvd, Raleigh, NC 27606-1936
      View Details
    • Value Estimation by Request
      1,946 SF

      5611 Hillsborough St

      AUTO REPAIR, GARAGE • 1,946 SF
      5611 Hillsborough St, Raleigh, NC 27606-1534
      View Details

    Similar Nearby for Sale

    • $3,500,000
      1.62 Acres

      Raleigh Development Opportunity: Kent Rd. Duo

      Prime Raleigh location, daycare, development potential.
      1201 Kent Rd, Raleigh, NC 27606
      View Details
    • Contact for pricing

      Residential Lot in Prime Location

      Land for sale in Raleigh, utilities at street, no HOA.
      2512 Prince Dr, Raleigh, NC 27606
      View Details
    • Contact for pricing
      1,400 SF

      Charming Townhouse with Versatile Loft

      2-bedroom, 2.5-bath townhouse with loft in Raleigh.
      4732 Altha St, Raleigh, NC 27606
      View Details
    • New
      $815,000
      4.05 Acres

      Raleigh Land Parcel for Development

      4.05 acre site approved for five residential lots.
      831 Buck Jones Rd, Raleigh, NC 27606
      View Details
    • Contact for pricing
      15,337 SF

      Fully Leased Raleigh Office Building

      Stabilized investment opportunity near NC State University.
      4904 Waters Edge Dr, Raleigh, NC 27606
      View Details
    • $179,000
      Pending

      Residential Land in Raleigh, NC

      One-acre residential lot with building potential in Raleigh, NC.
      4605 Graham Newton Rd, Raleigh, NC 27606
      View Details

    Similar Nearby for Lease

    • $35 SF/Yr
      7,130 SF

      Retail Building Near NC State

      7,130 SF retail building near NC State's South Campus.
      3801 Western Blvd, Raleigh, NC 27606
      View Details
    • Contact for pricing
      117,440 SF

      Raleigh Retail Space - 117,440 SF

      Prime Raleigh storefront, ample parking, opportunity zone.
      4500 Western Blvd, Raleigh, NC 27606
      View Details
    • $39 SF/Yr
      121,792 SF

      Centennial Campus Office Building

      Four-story, 121,792 SF building near dining and retail.
      1801 Varsity Dr, Raleigh, NC 27606
      View Details
    • $967 /Mo
      44,757 SF

      Raleigh Office Space For Lease

      Office space for lease in Waters Edge Office Park.
      4915 Waters Edge Dr, Raleigh, NC 27606
      View Details
    • $20 SF/Yr
      44,757 SF

      Waters Edge Office Park Suites

      Executive office space in West Raleigh.
      4917 Waters Edge Dr, Raleigh, NC 27606
      View Details
    • $23 SF/Yr
      95,088 SF

      Updated Office Building in Raleigh

      Four-story office building with move-in ready suites for lease.
      5540 Centerview Dr, Raleigh, NC 27606
      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.
    2709 Western Blvd
    Raleigh, NC 27606-2127
    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.