Add Listing
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

    2722 Spg Frst Rd Raleigh, NC 27616-1824

    • Assisted living facilities
    • 93,920 SF
    • 5.02 lot acres
    OFF-MARKET
    Last Sale
    Jun 20, 2024
    $26,166,000
    Value Estimations
    $26,165,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-4716888
    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

    • Quick Bad Credit Loans / Loan Service
    • The Willows at Raleigh / Nursing Home / Retirement Community
    • Mike Watson / Nursing Home / Retirement Community

    Property Details for 2722 Spg Frst Rd

    Year built
    2018
    Construction
    FRAME
    Lot size
    5.02 lot acres
    Property size
    93,920 SF
    Zone code
    RX-4
    Property type
    Assisted living facilities
    Property subtype
    Retirement homes
    APN
    1716.12-97-8288 0438165
    APU
    1716129782880438165

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $26,165,000
      ML approach
      $26,165,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Raleigh
    County
    Wake
    State
    North Carolina
    Longitude
    -78.5954
    Latitude
    35.8575
    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
    $225,950
    $4,290,000
    $16,176,967
    $20,466,967
    -
    $4,290,000
    $16,176,967
    $20,466,967

    Comparable in this City

    • Value Estimation
      $12,815,000
      58,734 SF

      5201 Clarks Frk Dr

      HOMES (RETIRED, NURSING) • 58,734 SF
      5201 Clarks Frk Dr, Raleigh, NC 27616-5868
      View Details
    • Value Estimation by Request
      2,986 SF

      2805 Spring Forest Rd

      Medical Office Space • 2,986 SF
      2805 Spring Forest Rd, Raleigh, NC 27616
      View Details
    • Value Estimation by Request
      1,400 SF

      5621 Departure Dr Ste, Unit 109

      MEDICAL BUILDING • 1,400 SF
      5621 Departure Dr Ste, Raleigh, NC 27616-1911
      View Details
    • Value Estimation by Request
      1,400 SF

      5621 Departure Dr Ste, Unit 110

      MEDICAL BUILDING • 1,400 SF
      5621 Departure Dr Ste, Raleigh, NC 27616-1911
      View Details
    • Value Estimation by Request
      9,000 SF

      8504 Darton Way

      Medical Office Space • 9,000 SF
      8504 Darton Way, Raleigh, NC 27616
      View Details
    • Value Estimation
      $890,000
      5,772 SF

      4909 Grn Rd Ste, Unit 132

      MEDICAL BUILDING • 5,772 SF
      4909 Grn Rd Ste, Raleigh, NC 27616-3419
      View Details

    Similar Nearby for Sale

    • $2,600,000

      8.14 Acres on Buffaloe Road

      8.14 acres suitable for daycare or senior living.
      5525 Buffaloe Rd, Raleigh, NC 27616
      View Details
    • $836,000
      2,986 SF

      Raleigh Medical Office Condo

      2,986 SF Medical Office, Owner-User Opportunity
      2805 Spring Forest Rd, Raleigh, NC 27616
      View Details
    • $680,000
      3,358 SF

      Raleigh Townhomes: Leased Investment Opportunity

      Fully leased, new construction townhomes in North Raleigh near I-540.
      4820 Gossamer Ln, Raleigh, NC 27616
      View Details
    • $1,130,000
      1,144 SF

      Raleigh Commercial Land Opportunity

      1.55-acre commercial mixed-use land in a prime Raleigh location.
      4900 Spring Forest Rd, Raleigh, NC 27616
      View Details
    • $375,000
      11.25 Acres

      Granite Ridge Estates Land

      11+ acres in Granite Ridge Estates, Raleigh, NC.
      4050 Granite Ridge Trl, Raleigh, NC 27616
      View Details
    • $425,000
      11.83 Acres

      Raleigh Land Opportunity

      Large 11+ acre lot in Raleigh, North Carolina.
      4010 Granite Ridge Trl, Raleigh, NC 27616
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      8,968 SF

      Forestville Crossing Executive Suites

      Raleigh Office & Retail Space Available
      2902 Forestville Rd, Raleigh, NC 27616
      View Details
    • Contact for pricing

      Retail/Office Space For Lease

      Multi-tenant retail building with spaces suitable for retail or office.
      2900 Spring Forest Rd, Raleigh, NC 27616
      View Details
    • Contact for pricing
      1,243 SF

      Regional Power Center For Rent

      Regional power center serving Northeast Raleigh and Wake Forest.
      27616 Usa, Raleigh, NC 27616
      View Details
    • Contact for pricing
      122,839 SF

      Raleigh Retail Outparcel Opportunity

      High-growth area, Publix-anchored, I-540 access
      0 Buffaloe Rd & Forestville Rd, Raleigh, NC 27616
      View Details
    • Contact for pricing
      478,740 SF

      Triangle Town Center Retail Space

      Upscale retail space, multiple units available.
      5959 Triangle Town Blvd, Raleigh, NC 27616
      View Details
    • $19 SF/Yr

      Versatile Flex Suite in Raleigh

      1,200 SF flex suite with offices, storage, and accessibility.
      4724 Hargrove Rd, Raleigh, NC 27616
      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.
    2722 Spg Frst Rd
    Raleigh, NC 27616-1824
    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.
    Sign Up Successful!
    You now have access to more from Realmo!