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    Property profile & analytics

    3633 Harden Rd Raleigh, NC 27607

    • Medical offices
    • 29,088 SF
    • 3.00 lot acres
    For Lease
    View listing
    $20 SF/Yr
    Last Sale
    Aug 25, 2022
    $11,375,000
    Value Estimations
    $11,935,000
    Cap Rate Potential
    3.5%
    Medical offices
    Location Intelligence
    Property ID
    US53-1989583
    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

    • Carlino Aesthetics, PLLC / Facial Spa / Laser Hair Removal Service
    • Allex Granger, FNP-C / Family Practice Physician
    • Sanjay Daluvoy / Practitioner Service Location / Plastic Surgeon
    • Needledriver / Medical Spa / Training Centre
    • Robert Caudle / Orthopedic Surgeon

    Property Details for 3633 Harden Rd

    Year built
    2000
    Construction
    BRICK
    Lot size
    3.00 lot acres
    Property size
    29,088 SF
    Zone code
    OX-3
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    0785.20-80-2707 0018827
    APU
    785208027070018827

    Description

    This exceptional two-story medical office building, located at 3633 Harden Rd in Raleigh, NC 27607, offers 31,540 square feet of high-end space. Built in 2000, the property features a recently updated lobby and restrooms, reflecting a commitment to modern aesthetics and functionality. The building boasts abundant parking, with a ratio of 3.49 spaces per 1,000 square feet, ensuring ample convenience for patients and staff. Currently, a single suite totaling 2,251 square feet is available for lease, presenting a unique opportunity for medical professionals seeking a well-maintained and conveniently located practice space. Its prime location in Wake County offers excellent accessibility, situated within walking distance of the Market Place at Lake Boone, providing easy access to a variety of restaurants, gyms, and retail establishments. Furthermore, its proximity to UNC Rex Hospital, I-440, I-40, Lake Boone Trail, and Blue Ridge Road ensures seamless connectivity throughout the Raleigh area. This property represents a compelling investment opportunity for those seeking a well-appointed medical office space in a thriving and accessible location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $12,855,000
      ML approach
      $10,465,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $9,173,000
      Market price range: $6.46M - $11.6M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $9,175,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $16,030,000
      Change: +75% Conversion: Difficult
      RESTAURANT
      $15,815,000
      Change: +72% Conversion: Difficult
      RETAIL STORES
      $11,430,000
      Change: +25% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $9,435,000
      Change: +3% Conversion: Easy
      AUTO REPAIR, GARAGE
      $8,575,000
      Change: -7% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Raleigh
    County
    Wake
    State
    North Carolina
    Longitude
    -78.7025
    Latitude
    35.8125
    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
    $69,404
    $1,693,613
    $4,673,698
    $6,367,311
    -
    $1,693,613
    $4,673,698
    $6,367,311

    Comparable in this City

    • Value Estimation
      $735,000
      35,224 SF

      2417 Atrium Dr

      MEDICAL BUILDING • 35,224 SF
      2417 Atrium Dr, Raleigh, NC 27607-0161
      View Details
    • Value Estimation
      $775,000
      20,508 SF

      4505 Fair Mdws Ln

      MEDICAL BUILDING • 20,508 SF
      4505 Fair Mdws Ln, Raleigh, NC 27607-6465
      View Details
    • Value Estimation
      $1,330,000
      63,977 SF

      2605 Blue Rdg Rd

      MEDICAL BUILDING • 63,977 SF
      2605 Blue Rdg Rd, Raleigh, NC 27607-0112
      View Details
    • Value Estimation
      $11,790,000
      40,363 SF

      4301 Lk Boone Trl

      MEDICAL BUILDING • 40,363 SF
      4301 Lk Boone Trl, Raleigh, NC 27607-0103
      View Details
    • Value Estimation
      $13,395,000
      50,220 SF

      4201 Lk Boone Trl

      MEDICAL BUILDING • 50,220 SF
      4201 Lk Boone Trl, Raleigh, NC 27607-7512
      View Details
    • Value Estimation
      $510,000
      10,002 SF

      2615 Lk Dr Ste, Unit 201

      MEDICAL BUILDING • 10,002 SF
      2615 Lk Dr Ste, Raleigh, NC 27607-6694
      View Details

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      Raleigh Medical Office Space for Lease

      Prime Raleigh medical office, 2,251 sq ft available.
      3633 Harden Rd, Raleigh, NC 27607
      View Details
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    Raleigh, NC 27607
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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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