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

    3244 Capital Blvd Raleigh, NC 27604-3338

    • Drive through restaurants
    • 740 SF
    • 0.57 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-0552857
    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

    • Cook Out / Restaurant

    Property Details for 3244 Capital Blvd

    Year built
    1991
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.57 lot acres
    Property size
    740 SF
    Zone code
    IX-3
    Property type
    Drive through restaurants
    APN
    1725.13-24-3965 0097330
    APU
    1725132439650097330

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Raleigh
    County
    Wake
    State
    North Carolina
    Longitude
    -78.5872
    Latitude
    35.8238
    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
    $7,944
    $446,922
    $281,876
    $728,798
    -
    $446,922
    $281,876
    $728,798

    Comparable in this City

    • Value Estimation
      $655,000
      5,440 SF

      1700 Trawick Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 5,440 SF
      1700 Trawick Rd, Raleigh, NC 27604-3835
      View Details
    • Value Estimation by Request
      2,325 SF

      1600 Wake Frst Rdlh

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,325 SF
      1600 Wake Frst Rdlh, Raleigh, NC 27604-1333
      View Details
    • Value Estimation
      $660,000
      4,875 SF

      4621 Capital Blvd

      DRIVE-THRU RESTAURANT, FAST FOOD • 4,875 SF
      4621 Capital Blvd, Raleigh, NC 27604-4479
      View Details
    • Value Estimation
      $560,000
      3,471 SF

      4004 Capital Blvd

      DRIVE-THRU RESTAURANT, FAST FOOD • 3,471 SF
      4004 Capital Blvd, Raleigh, NC 27604-3413
      View Details
    • Value Estimation by Request
      2,768 SF

      3318 Capital Blvd

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,768 SF
      3318 Capital Blvd, Raleigh, NC 27604-3340
      View Details
    • Value Estimation by Request
      1,499 SF

      4648 Atlantic Ave

      DRIVE-THRU RESTAURANT, FAST FOOD • 1,499 SF
      4648 Atlantic Ave, Raleigh, NC 27604-8102
      View Details

    Similar Nearby for Sale

    • $50,000
      0.20 Acres

      Residential Lot with Duplex Potential

      0.20 acre residential lot zoned R6 in Raleigh, NC.
      4200 James Rd, Raleigh, NC 27604
      View Details
    • Contact for pricing

      Raleigh Flex/Warehouse Space For Sale

      13,000 SF flex/warehouse with beltline visibility and easy access.
      2705 Noblin Rd, Raleigh, NC 27604
      View Details
    • Contact for pricing
      1,028 SF

      Prime Commercial Land Opportunity

      1.60 acre commercial property near Capital Blvd in Raleigh.
      3206 Old Buffaloe Rd, Raleigh, NC 27604
      View Details
    • $949,900
      1.60 Acres

      Raleigh Commercial Land Opportunity

      1.6 acre commercial property with mixed-use zoning in Raleigh.
      3206 Old Buffaloe Rd, Raleigh, NC 27604
      View Details
    • Contact for pricing

      Expansive Wooded Lot in Raleigh

      2.85-acre wooded lot for custom home in Lewis Farm.
      1929 Amethyst Ridge Dr, Raleigh, NC 27604
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,185 SF

      Premium ITB Retail Opportunity

      Retail space in Infinity Six Forks near Downtown Raleigh.
      900 East Six Forks Rd, Raleigh, NC 27604
      View Details
    • Contact for pricing

      Mixed-Use Space in Raleigh

      Retail and office spaces available in Raleigh, North Carolina.
      2201 Iron Works Dr, Raleigh, NC 27604
      View Details
    • Contact for pricing

      Retail and Medical Office Spaces

      Retail and medical spaces in Raleigh, estimated delivery Q3 2025.
      5100 Forestville Rd, Raleigh, NC 27604
      View Details
    • Contact for pricing

      Retail Space in Raleigh, NC

      Retail space available at Millbrook Collection in Raleigh, NC.
      4701 Atlantic Ave, Raleigh, NC 27604
      View Details
    • Contact for pricing

      Retail Space For Lease

      Retail space available for lease.
      2822 Capital Blvd, Raleigh, NC 27604
      View Details
    • $9,375 /Mo
      4,346 SF

      Dealership Space on Capital Boulevard

      Dealership space for lease in high-traffic Raleigh corridor.
      3333 Capital Blvd, Raleigh, NC 27604
      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.
    3244 Capital Blvd
    Raleigh, NC 27604-3338
    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!