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

    2808 Hillsborough St Raleigh, NC 27607-7142

    • Retail space
    • 4,800 SF
    • 0.55 lot acres
    OFF-MARKET
    Value Estimations
    $955,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-1182746
    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

    • College Beverage / Beverage Distributor
    • CoinFlip Bitcoin ATM / Business Banking Service / Business To Business Service
    • Nature's Juice Bar and Cafe / Juice Shop / Açaí Shop
    • College Beverage 1 / Convenience Store
    • State Lot / Parking Lot

    Property Details for 2808 Hillsborough St

    Year built
    1962
    Construction
    BRICK
    Lot size
    0.55 lot acres
    Property size
    4,800 SF
    Zone code
    NX-4
    Property type
    Retail space
    APN
    0794.19-62-5441 0049350
    APU
    794196254410049350

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $680,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,335,000
      6.5%
      $1,235,000
      7%
      $1,145,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $955,000
      Market price range: $343k - $955k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,555,000
      MEDICAL BUILDING
      $1,515,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Raleigh
    County
    Wake
    State
    North Carolina
    Longitude
    -78.6745
    Latitude
    35.7896
    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
    $26,962
    $2,156,220
    $19,805
    $2,176,025
    -
    $2,156,220
    $19,805
    $2,176,025

    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
      $1,065,000
      8,034 SF

      6815 Chapel Hl Rd

      RETAIL STORES (PERSONAL SERVICES) • 8,034 SF
      6815 Chapel Hl Rd, Raleigh, NC 27607-5015
      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 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

    • $2,750,000
      7,800 SF

      Hillsborough Street Restaurant - Raleigh

      Prime Raleigh restaurant space, vacant, 7,800 sq ft.
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    • $850,000
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      Raleigh Retail Investment Opportunity

      High-traffic retail space near NC State.
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      Cary Land Subdivision Opportunity

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      View Details
    • $999,999

      Residential Land in Prime Location

      Two residential lots for sale in Raleigh, North Carolina.
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      View Details
    • $1,250,000

      Custom Pre-Sale Opportunity

      Custom pre-sale opportunity in Raleigh, contact listing agent.
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    • $356,000
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      Prime Land Near NC Fairgrounds

      Two adjacent parcels ideal for development near NC State Fairgrounds.
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    Similar Nearby for Lease

    • Contact for pricing
      3,121 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
    • $34 SF/Yr
      42,489 SF

      Rexwoods III Medical Office Space

      West Raleigh medical office suites available.
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      View Details
    • $27 SF/Yr
      35,876 SF

      Raleigh Medical Office Space for Lease

      Class A medical office suites in prime Raleigh location.
      2417 Atrium Dr, Raleigh, NC 27607
      View Details
    • $35 SF/Yr
      61,060 SF

      Rexwoods V Medical Office Space

      Raleigh, NC medical office building with 15,870 SF available.
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      View Details
    • $20 SF/Yr
      31,540 SF

      Raleigh Medical Office Space for Lease

      Prime Raleigh medical office, 2,251 sq ft available.
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      View Details
    • $9 SF/Yr
      54,250 SF

      Prime Executive Office Space

      Historic Warehouse, Walkable Location
      3701 Neil St, Raleigh, NC 27607
      View Details
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    2808 Hillsborough St
    Raleigh, NC 27607-7142
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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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