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    3501 Capital Blvd Raleigh, NC 27604-3366
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    Property profile & analytics

    3501 Capital Blvd Raleigh, NC 27604-3366

    View on Map
    • Strip malls
    • 56,201 SF
    • 8.94 lot acres
    Off-Market
    Property ID
    US53-1929258
    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
    $10,090,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Mayami Restaurant & Lounge / Restaurant
    • Backyard Leisure: Hot Tubs and Pools / (Bike/Boat/Book/etc) Store / Kitchen & Bath Showroom
    • Ollie's Bargain Outlet / Discount Store
    • TNT Development / Construction Company
    • H & L Enterprises Inc / Telecommunications Service / Data Center

    Property Details for 3501 Capital Blvd

    Year built
    1987
    Lot size
    8.94 lot acres
    Property size
    56,201 SF
    Zone code
    IX-3
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    1725.09-26-4453 0150410
    APU
    1725092644530150410

    Description

    Emporium Plaza, located at 3501 Capital Boulevard in Raleigh, North Carolina (zip code 27604), presents a compelling investment opportunity in a thriving retail market. This 108,581 square foot shopping center boasts 21 suites, with six currently available for lease. The available spaces range in size from 1,507 square feet to 4,960 square feet, offering flexibility for a variety of retail businesses. Strategically positioned at the corner of Old Buffalo Road and Capital Boulevard, the center benefits from exceptional visibility and accessibility. Its location within a densely populated area ensures high foot traffic and strong consumer demand. The center is situated blocks from numerous other shopping centers and restaurants, further enhancing its appeal and drawing from a substantial customer base. This prime location serves a population exceeding 70,000 people within a three-mile radius, providing a robust and established market for potential tenants. The property's size and location make it an ideal investment for those seeking a strong return in a high-growth area of Raleigh. Contact us today to learn more about the available spaces and leasing opportunities at Emporium Plaza.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Raleigh
    County
    Wake
    State
    North Carolina
    Longitude
    -78.5869
    Latitude
    35.8278
    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
    $112,881
    $4,556,284
    $5,799,772
    $10,356,056
    -
    $4,556,284
    $5,799,772
    $10,356,056

    Comparable in this City

    • Value Estimation
      $27,730,000
      93,700 SF

      4020 Capital Blvd

      SHOPPING CENTER, STRIP CENTER • 93,700 SF
      4020 Capital Blvd, Raleigh, NC 27604-3450
      View Details
    • Value Estimation
      $1,430,000
      7,560 SF

      3509 Capital Blvd

      SHOPPING CENTER, STRIP CENTER • 7,560 SF
      3509 Capital Blvd, Raleigh, NC 27604-4539
      View Details
    • Value Estimation
      $11,945,000
      34,290 SF

      2215 New Hope Church Rd

      SHOPPING CENTER, STRIP CENTER • 34,290 SF
      2215 New Hope Church Rd, Raleigh, NC 27604-1600
      View Details
    • Value Estimation
      $8,365,000
      45,570 SF

      3300 Capital Blvd

      SHOPPING CENTER, STRIP CENTER • 45,570 SF
      3300 Capital Blvd, Raleigh, NC 27604-3340
      View Details
    • Value Estimation
      $5,485,000
      29,931 SF

      2799 Brentwood Rd, Unit LH

      SHOPPING CENTER, STRIP CENTER • 29,931 SF
      2799 Brentwood Rd, Raleigh, NC 27604-3223
      View Details
    • Value Estimation
      $6,530,000
      35,721 SF

      4510 Capital Blvd

      SHOPPING CENTER, STRIP CENTER • 35,721 SF
      4510 Capital Blvd, Raleigh, NC 27604-4353
      View Details

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      Retail Center on Capital Boulevard

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      Dealership Space on Capital Boulevard

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      Retail Space For Lease

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      2,185 SF

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    Raleigh, NC 27604-3366
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    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
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