Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    3200 Wake Forest Rd Raleigh, NC 27609

    Property Lookup

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

    3200 Wake Forest Rd Raleigh, NC 27609

    View on Map
    • Office buildings
    • 17,856 SF
    • 1.03 lot acres
    For Lease
    $25 SF/Yr
    View Listing →
    Turnkey Office Space Available For Lease
    $25 SF/Yr
    17,856 SF

    Turnkey Office Space Available

    Turnkey office space with executive offices and conference room.

    3200 Wake Forest Rd, Raleigh, NC 27609
    View Listing
    Property ID
    US53-1837267
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Chad Ross / Real Estate Agency
    • Whitney Chambers / Counselor / Practitioner Service Location
    • Dunn, Dunn & Oakes, CPAs, PLLC / Accounting Firm / Tax Preparation
    • The Sheri Hagerty Group / Real Estate Agency
    • Meredith Little, Hodge & Kittrell Sotheby's International Realty / Real Estate Agency

    Property Details for 3200 Wake Forest Rd

    Year built
    1974
    Lot size
    1.03 lot acres
    Property size
    17,856 SF
    Zone code
    OX-5
    Property type
    Office buildings
    APN
    1715.10-25-5833 0071022
    APU
    1715102558330071022

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $4,395,000
      6.5%
      $4,060,000
      7%
      $3,770,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,043,000
      Market price range: $2.27M - $4.07M
      AI Estimate
      $3,291,000
      Market price range: $2.27M - $4.55M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $3,075,000
      Current use
      AUTO REPAIR, GARAGE
      $5,265,000
      Change: +71% Conversion: Difficult
      MEDICAL BUILDING
      $4,425,000
      Change: +44% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Raleigh
    County
    Wake
    State
    North Carolina
    Longitude
    -78.6204
    Latitude
    35.8262
    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
    $24,606
    $807,606
    $1,449,813
    $2,257,419
    -
    $807,606
    $1,449,813
    $2,257,419

    Comparable in this City

    • Value Estimation by Request
      556 SF

      5620 6th Frks Rd, Unit 206

      OFFICE BUILDING • 556 SF
      5620 6th Frks Rd, Raleigh, NC 27609-0035
      View Details
    • Value Estimation by Request
      1,000 SF

      4010 Barrett Dr, Unit 16B

      OFFICE BUILDING • 1,000 SF
      4010 Barrett Dr, Raleigh, NC 27609-6622
      View Details
    • Value Estimation
      $1,620,000
      10,540 SF

      1109 Dresser Ct

      OFFICE BUILDING • 10,540 SF
      1109 Dresser Ct, Raleigh, NC 27609-7302
      View Details
    • Value Estimation by Request
      1,000 SF

      211 Six Forks Rd, Unit 12A

      OFFICE BUILDING • 1,000 SF
      211 Six Forks Rd, Raleigh, NC 27609-7745
      View Details
    • Value Estimation by Request
      1,000 SF

      5858 Faringdon Pl19a

      OFFICE BUILDING • 1,000 SF
      5858 Faringdon Pl19a, Raleigh, NC 27609-3931
      View Details
    • Value Estimation by Request
      1,000 SF

      211 Six Forks Rd, Unit 5B

      OFFICE BUILDING • 1,000 SF
      211 Six Forks Rd, Raleigh, NC 27609-7745
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      North Raleigh Office Building For Sale

      Two-story office building in a prominent North Raleigh location.
      5909 Falls Of Neuse Rd, Raleigh, NC 27609
      View Details
    • Contact for pricing
      10,780 SF

      Fully Leased Dental Building

      Multi-tenant dental building with long-term leaseback in Raleigh, NC.
      3803 Computer Dr, Raleigh, NC 27609
      View Details
    • $3,640,000

      Medical Building For Sale

      Single-tenant medical building with surgery center build-out.
      3613 Haworth Dr, Raleigh, NC 27609
      View Details
    • $900,000
      3,128 SF

      Medical Office Condo For Sale

      3,128 SF medical office condo in prime Raleigh location.
      3396 Six Forks Rd, Raleigh, NC 27609
      View Details
    • $199,900
      1,036 SF

      Raleigh Office Condo For Sale

      Office condo in North Raleigh, currently leased, great investment opportunity.
      1100 Logger Ct, Raleigh, NC 27609
      View Details
    • Contact for pricing
      6,018 SF

      Raleigh Commercial Space For Sale

      Versatile 6,018 sqft commercial space in Raleigh's Six Forks/Falls.
      1665 N Market Dr, Raleigh, NC 27609
      View Details

    Similar Nearby for Lease

    • $22 SF/Yr
      5,929 SF

      Single-Story Office Buildings For Rent

      Five single-story office buildings totaling ±81,901 rentable square feet.
      5910-6090 Six Forks Rd, Raleigh, NC 27609
      View Details
    • Contact for pricing

      North Hills Office Tower II

      LEED Gold certified office space in Raleigh's North Hills.
      4242 Six Forks Rd, Raleigh, NC 27609
      View Details
    • Contact for pricing
      86,079 SF

      Modern Office Space in Raleigh

      Office space at The Exchange Raleigh, a modern, vibrant crossroads.
      3301 Benson Dr, Raleigh, NC 27609
      View Details
    • $1,800 /Mo
      900 SF

      Raleigh Office Space For Rent

      First-floor office space near North Ridge Shopping Center.
      1100 Logger Ct, Raleigh, NC 27609
      View Details
    • Contact for pricing

      Office Space Available For Rent

      Office space available for rent in Raleigh, North Carolina.
      4407 Bland Rd, Raleigh, NC 27609
      View Details
    • $25 SF/Yr
      24,804 SF

      Raleigh Medical/General Office Space

      Highly accessible Raleigh location, ideal for medical or office use.
      3604 Bush St, Raleigh, NC 27609
      View Details
    View Listing
    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.
    3200 Wake Forest Rd
    Raleigh, NC 27609
    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!