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

    2811 Wakefield Pnes Dr Raleigh, NC 27614

    • Grocery and convenience stores
    • 4,872 SF
    • 1.45 lot acres
    OFF-MARKET
    Value Estimations
    $1,580,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-4804896
    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

    • Grocery and convenience stores

    Property Details for 2811 Wakefield Pnes Dr

    Year built
    2019
    Construction
    BRICK
    Lot size
    1.45 lot acres
    Property size
    4,872 SF
    Zone code
    CX-3
    Property type
    Grocery and convenience stores
    APN
    1739.01-08-4642 0460661
    APU
    1739010846420460661

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,360,000
      6.5%
      $1,255,000
      7%
      $1,165,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,413,000
      Market price range: $646k - $1.41M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,915,000
      Current use
      COMMERCIAL (GENERAL)
      $1,580,000
      Change: -17% Conversion: Easy
      MEDICAL BUILDING
      $1,535,000
      Change: -20% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Raleigh
    County
    Wake
    State
    North Carolina
    Longitude
    -78.5593
    Latitude
    35.9435
    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
    $28,439
    $756,049
    $1,853,003
    $2,609,052
    -
    $756,049
    $1,853,003
    $2,609,052

    Comparable in this City

    • Value Estimation
      $1,285,000
      3,936 SF

      13250 Fls Of Neuse Rd

      GROCERY, SUPERMARKET • 3,936 SF
      13250 Fls Of Neuse Rd, Raleigh, NC 27614-8237
      View Details
    • Value Estimation
      $10,880,000
      48,512 SF

      14520 John Rex Blvd

      GROCERY, SUPERMARKET • 48,512 SF
      14520 John Rex Blvd, Raleigh, NC 27614-8592
      View Details
    • Value Estimation by Request
      2,135 SF

      10550 Durant Rd

      GROCERY, SUPERMARKET • 2,135 SF
      10550 Durant Rd, Raleigh, NC 27614-9478
      View Details
    • Value Estimation
      $1,080,000
      2,730 SF

      11716 6th Frks Rd

      GROCERY, SUPERMARKET • 2,730 SF
      11716 6th Frks Rd, Raleigh, NC 27614-9637
      View Details
    • Value Estimation by Request
      768 SF

      11609 6th Frks Rd

      RETAIL STORES (PERSONAL SERVICES) • 768 SF
      11609 6th Frks Rd, Raleigh, NC 27614-9579
      View Details
    • Value Estimation
      $585,000
      7,979 SF

      12700 Spruce Tree Way

      FINANCIAL BUILDING • 7,979 SF
      12700 Spruce Tree Way, Raleigh, NC 27614-6923
      View Details

    Similar Nearby for Sale

    • $1,400,000
      5.09 Acres

      Raleigh Commercial Development Opportunity

      5.09 acres in Raleigh, NC, prime for development.
      11601 Forest Pines Dr, Raleigh, NC 27614
      View Details
    • Contact for pricing
      2,040 SF

      Retail Space For Sale

      Retail space available for purchase.
      10940 Raven Ridge Rd, Raleigh, NC 27614
      View Details
    • $460,000
      2.03 Acres

      Raleigh Land with Green Space

      2.03 acre homesite in Raleigh's Falls Lake watershed area.
      14124 Norwood Rd, Raleigh, NC 27614
      View Details
    • Contact for pricing

      Raleigh Commercial Land Opportunity

      5.09 acres of commercial land in Raleigh, NC for sale.
      11601 Forest Pines Dr, Raleigh, NC 27614
      View Details
    • New
      $780,000
      1.84 Acres

      Estate Homesite in Raleigh Enclave

      1.84-acre homesite in exclusive Avanlea enclave, North Raleigh.
      1121 Erins Way Ln, Raleigh, NC 27614
      View Details
    • $899,900

      Prime Corner Investment Opportunity

      Excellent corner location offering a great investment opportunity.
      10701 Forest Dr, Raleigh, NC 27614
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Shopping Center in Raleigh

      Retail spaces available in a busy Raleigh shopping center.
      13200 Falls Of Neuse Rd, Raleigh, NC 27614
      View Details
    • Contact for pricing

      Outparcel Pads for Development

      Outparcel pads available for development at open-air center.
      Wakefield Commons Dr, Raleigh, NC 27614
      View Details
    • Contact for pricing

      Retail Shopping Center in Raleigh

      Well-positioned retail center with diverse tenant mix near Wake Forest.
      13200 Falls Of Neuse Rd, Raleigh, NC 27614
      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.
    2811 Wakefield Pnes Dr
    Raleigh, NC 27614
    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!