Technical
Financial
Distress signals
Property profile

2902 Forestville Rd Raleigh, NC 27616

OFF-MARKET
Drug stores
Property ID
US53-1008500
13,255 SF 2.88 ac lot Built 2008
Individually Owned 20-yr Hold Absentee Owner ~ Est. High Equity
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Property summary

AI-generated overview

Forestville Crossing, located at 2902 Forestville Rd and 8410-8470 Louisburg Rd, Raleigh, NC 27616, offers exceptional leasing opportunities in a vibrant shopping center anchored by Lowes Foods. This property boasts a total of 8,968 square feet, with a flexible layout accommodating various business needs. Currently, there are two available spaces: one measuring 3,646 square feet and another significantly larger at 5,322 square feet, representing the entire vacant space. The minimum divisible space is 2,661 square feet, while the maximum contiguous space available is 5,322 square feet. The property is classified as Retail, Office, and Restaurant space, with a current subtype focus on Executive Office, Retail, and Medical uses. Multiple tenancies are supported. Ample parking is provided with 817 spaces available for tenants and customers. This prime location presents an excellent chance for businesses seeking high visibility and convenient access within a thriving retail environment. The property's versatile design and substantial square footage make it ideal for a range of businesses, from executive offices to retail establishments and medical practices. Contact us today to learn more about these exceptional leasing opportunities.

Property profile

Verified
Property type Drug stores
Use group DRUG STORE, PHARMACY
Year built 2008
Construction FRAME
Total area 13,255 SF
Lot 2.88 ac (125,453 SF)
Zoning code CX-3
APN 1748.04-50-9909 0358216
UPID US53-1008500

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • (Bike/Boat/Book/etc) Store
  • Atm
  • Crypto Atm Atm
  • Pharmacy
  • Pharmacy

Location

2902 Forestville Rd Raleigh, NC 27616-8774
Raleigh metro Census 54218 RALEIGH-CARY, NC METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
$3.62M
Comparable Approach Comparable
$3.02M
Blend (final) Blend
$3.91M

Owner & transaction history

since 2006
7 recorded transactions
2018
Price N/A
2014
Price N/A
2011
Price N/A
2009
Price N/A
2006
Price N/A
1969
Price N/A
1969
Price N/A

Zoning & alternative use

CX-3 · Raleigh, NC
Zoning description

The CX-3 is intended to provide for a variety of residential, retail, service andcommercial uses

General category MIXED_USE

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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