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

    309 Blount St Raleigh, NC 27601-1007

    • Investment properties
    • 7,248 SF
    • 0.40 lot acres
    OFF-MARKET
    Value Estimations
    $1,520,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-1588605
    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

    • Heck-Andrews House / Historical Place / Tourist Attraction

    Property Details for 309 Blount St

    Year built
    1870
    Construction
    FRAME
    Lot size
    0.40 lot acres
    Property size
    7,248 SF
    Zone code
    DX-3
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    1704.20-70-7598 0061707
    APU
    1704207075980061707

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,670,000
      6.5%
      $1,545,000
      7%
      $1,435,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,046,000
      Market price range: $411k - $1.21M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $2,350,000
      Current use
      MEDICAL BUILDING
      $2,285,000
      Change: -3% Conversion: Easy
      AUTO REPAIR, GARAGE
      $2,135,000
      Change: -9% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Raleigh
    County
    Wake
    State
    North Carolina
    Longitude
    -78.6366
    Latitude
    35.7843
    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
    $14,062
    $1,313,770
    $1,089,466
    $2,403,236
    -
    $1,313,770
    $1,089,466
    $2,403,236

    Comparable in this City

    • Value Estimation by Request
      3,114 SF

      216 Lenoir St Sta, Unit A

      OFFICE/RESIDENTIAL (MIXED USE) • 3,114 SF
      216 Lenoir St Sta, Raleigh, NC 27601-2333
      View Details
    • Value Estimation
      $790,000
      4,414 SF

      215 En St

      OFFICE/RESIDENTIAL (MIXED USE) • 4,414 SF
      215 En St, Raleigh, NC 27601-1041
      View Details
    • Value Estimation by Request
      1,223 SF

      908 Edenton St

      OFFICE/RESIDENTIAL (MIXED USE) • 1,223 SF
      908 Edenton St, Raleigh, NC 27601-1206
      View Details
    • Value Estimation
      $1,100,000
      3,672 SF

      105 Bloodworth St

      OFFICE/RESIDENTIAL (MIXED USE) • 3,672 SF
      105 Bloodworth St, Raleigh, NC 27601-1503
      View Details
    • Value Estimation
      $595,000
      3,890 SF

      417 Blount St

      OFFICE/RESIDENTIAL (MIXED USE) • 3,890 SF
      417 Blount St, Raleigh, NC 27601-1009
      View Details
    • Value Estimation by Request
      1,007 SF

      612 Edenton St

      OFFICE/RESIDENTIAL (MIXED USE) • 1,007 SF
      612 Edenton St, Raleigh, NC 27601-1130
      View Details

    Similar Nearby for Sale

    • $1,520,000

      Luxury Condo in Heart of Raleigh

      Sprawling condo with open floor-plan, high ceilings, and gourmet kitchen.
      523 S West St, Raleigh, NC 27601
      View Details
    • $610,740
      2,435 SF

      Downtown Raleigh Townhome with Rooftop Terrace

      Townhome-style living near restaurants and breweries with skyline views.
      1228 S Person St, Raleigh, NC 27601
      View Details
    • $185,000
      0.11 Acres

      Raleigh Vacant Lot For Sale

      Vacant lot near Downtown Raleigh, Greenway Trails, and I-40.
      1113 S Wilmington St, Raleigh, NC 27601
      View Details
    • $297,000
      0.10 Acres

      Vacant Lot in Downtown Raleigh

      Rare opportunity to build in Raleigh's vibrant downtown.
      207 Heck St, Raleigh, NC 27601
      View Details
    • $450,000
      936 SF

      Updated Duplex in Downtown Raleigh

      Turnkey duplex in downtown Raleigh, ideal for short-term rentals.
      740 Quarry St, Raleigh, NC 27601
      View Details
    • $375,000

      Prime Downtown Raleigh Residential Lot

      Cleared .15-acre lot in the heart of downtown Raleigh.
      923 E Hargett St, Raleigh, NC 27601
      View Details

    Similar Nearby for Lease

    • $28 SF/Yr
      108,938 SF

      Mission Valley Retail Center

      West Raleigh Shopping Center - Spaces Available
      2223 Avent Ferry Rd, Raleigh, NC 27601
      View Details
    • $23 SF/Yr
      55,522 SF

      Iconic Downtown Raleigh Office Landmark

      Historical landmark with modern amenities in vibrant downtown Raleigh.
      16 W Martin St, Raleigh, NC 27601
      View Details
    • $29 SF/Yr
      441,000 SF

      Downtown Raleigh Office Tower

      Prestigious Class A Office Space Available
      434 Fayetteville St, Raleigh, NC 27601
      View Details
    • $31 SF/Yr
      167,580 SF

      Modern Office Space in Raleigh

      Prime downtown Raleigh location with modern amenities and vibrant atmosphere.
      333 Fayetteville St, Raleigh, NC 27601
      View Details
    • $27 SF/Yr
      190,518 SF

      Raleigh Retail Center - Prime Location

      Historic Raleigh retail space, multiple units available.
      400 Fayetteville St, Raleigh, NC 27601
      View Details
    • $11 SF/Yr
      5,921 SF

      Raleigh Office Space: Fayetteville St.

      Flexible Workspaces in Downtown Raleigh
      414 Fayetteville St, Raleigh, NC 27601
      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.
    309 Blount St
    Raleigh, NC 27601-1007
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.