Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3701 Lk Boone Trl Ste, Unit 200 Raleigh, NC 27607-3061

    • Office buildings
    • 5,982 SF
    • 0.01 lot acres
    OFF-MARKET
    Last Sale
    Oct 02, 2020
    $940,000
    Value Estimations
    $1,140,000
    Show details
    Cap Rate Potential
    7.9%
    Office buildings
    Location Intelligence
    Property ID
    US53-5644585
    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

    • Office buildings

    Property Details for 3701 Lk Boone Trl Ste

    Year built
    2002
    Construction
    BRICK
    Lot size
    0.01 lot acres
    Property size
    5,982 SF
    Zone code
    OX-3
    Property type
    Office buildings
    APN
    0795.17-11-1862 0328652
    APU
    795171118620328652

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,120,000
      ML approach
      $1,120,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,475,000
      6.5%
      $1,360,000
      7%
      $1,265,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,348,000
      Market price range: $755k - $1.72M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,235,000
      Current use
      MEDICAL BUILDING
      $1,885,000
      Change: +53% Conversion: Easy
      AUTO REPAIR, GARAGE
      $1,765,000
      Change: +43% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Raleigh
    County
    Wake
    State
    North Carolina
    Longitude
    -78.6925
    Latitude
    35.8153
    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
    $12,597
    $0.00
    $1,155,705
    $1,155,705
    -
    $0.00
    $1,155,705
    $1,155,705

    Comparable in this City

    • Value Estimation
      $6,150,000
      26,858 SF

      250 Hospice Cir

      OFFICE BUILDING • 26,858 SF
      250 Hospice Cir, Raleigh, NC 27607-6372
      View Details
    • Value Estimation
      $42,340,000
      211,080 SF

      5438 Wade Park Blvd

      OFFICE BUILDING (MULTI-STORY) • 211,080 SF
      5438 Wade Park Blvd, Raleigh, NC 27607-3648
      View Details
    • Value Estimation
      $2,950,000
      12,850 SF

      4600 Trinity Rd

      OFFICE BUILDING • 12,850 SF
      4600 Trinity Rd, Raleigh, NC 27607-3924
      View Details
    • Value Estimation
      $1,135,000
      10,483 SF

      7424 Chapel Hl Rd

      OFFICE BUILDING • 10,483 SF
      7424 Chapel Hl Rd, Raleigh, NC 27607-5032
      View Details
    • Value Estimation
      $1,555,000
      6,793 SF

      6505 Chapel Hl Rd

      OFFICE BUILDING • 6,793 SF
      6505 Chapel Hl Rd, Raleigh, NC 27607
      View Details
    • Value Estimation
      $905,000
      3,944 SF

      4005 District Dr

      OFFICE BUILDING • 3,944 SF
      4005 District Dr, Raleigh, NC 27607-6471
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      113,630 SF

      Renovated Class A Office Building

      Class A office building in West Raleigh, convenient location.
      1201 Edwards Mill Rd, Raleigh, NC 27607
      View Details
    • $7,250,000
      30,613 SF

      Leased Office Building Investment Opportunity

      97% leased office building with long-term tenants and stable income.
      6300-6310 Chapel Hill Rd, Raleigh, NC 27607
      View Details
    • Contact for pricing

      Raleigh Office Space For Sale

      Office space for sale in Raleigh's Tanager Center.
      6003 Chapel Hill Rd, Raleigh, NC 27607
      View Details
    • $850,000
      1,961 SF

      Raleigh Retail Investment Opportunity

      High-traffic retail space near NC State.
      2 Dixie Trl, Raleigh, NC 27607
      View Details
    • Contact for pricing
      1,990 SF

      Charming Townhome Near PNC Arena

      Beautifully appointed four-bedroom townhome near PNC Arena and NC State.
      1031 Lake Moraine Pl, Raleigh, NC 27607
      View Details
    • Contact for pricing

      Residential Land in Prime Location

      0.41-acre lot with potential to build custom dream house.
      3304 Red Bud St, Raleigh, NC 27607
      View Details

    Similar Nearby for Lease

    • $18 SF/Yr
      6,375 SF

      Raleigh Executive Office Suite

      Prime Raleigh location, 6,375 sq ft.
      1101 Nowell Rd, Raleigh, NC 27607
      View Details
    • $29 SF/Yr
      62,000 SF

      Arena Centre Executive Suites

      Raleigh, NC Class A Office Space Available
      1511 Sunday Dr, Raleigh, NC 27607
      View Details
    • $37 SF/Yr
      103,500 SF

      Medical Office Space, Raleigh, NC

      Class A Office Suites Available in Prime Location
      4414 Lake Boone Trl, Raleigh, NC 27607
      View Details
    • $29 SF/Yr
      113,630 SF

      Trinity Place Executive Suites

      Premium Raleigh Office Space Available
      1201 Edwards Mill Rd, Raleigh, NC 27607
      View Details
    • $34 SF/Yr
      41,838 SF

      Rexwoods I Medical Office Space

      Prime West Raleigh medical office suites available.
      4301 Lake Boone Trl, Raleigh, NC 27607
      View Details
    • $31 SF/Yr
      120,254 SF

      Lake Boone Trail Executive Suites

      Class A Office Space, West Raleigh
      4101 Lake Boone Trl, Raleigh, NC 27607
      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.
    3701 Lk Boone Trl Ste, Unit 200
    Raleigh, NC 27607-3061
    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!