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

    4004 Barrett Dr, Unit 11A Raleigh, NC 27609-6620

    • Office buildings
    • 1,008 SF
    OFF-MARKET
    Value Estimations
    $220,000
    Show details
    Cap Rate Potential
    5.8%
    Office buildings
    Location Intelligence
    Property ID
    US53-1304384
    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

    • Suzanne Hayes, RCST, PT, MSW / Craniosacral Therapy
    • Barry Barbara A / Acupuncturist
    • Bank of England / Mortgage Lender / Atm
    • GoalMakers / Learning Center
    • Hoop Snake Creative Classes / After School Program / Educational Institution

    Property Details for 4004 Barrett Dr

    Year built
    1986
    Construction
    FRAME
    Property size
    1,008 SF
    Zone code
    OX-3
    Property type
    Office buildings
    APN
    1705.12-97-8143 0149748
    APU
    1705129781430149748

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $255,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $250,000
      6.5%
      $230,000
      7%
      $215,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $171,000
      Market price range: $128k - $230k
      AI Estimate
      $185,000
      Market price range: $128k - $257k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $175,000
      Current use
      RETAIL STORES
      $395,000
      Change: +128% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $325,000
      Change: +88% Conversion: Easy
      AUTO REPAIR, GARAGE
      $295,000
      Change: +71% Conversion: Difficult
      MEDICAL BUILDING
      $250,000
      Change: +44% Conversion: Easy
      WAREHOUSE, STORAGE
      $225,000
      Change: +31% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Raleigh
    County
    Wake
    State
    North Carolina
    Longitude
    -78.6297
    Latitude
    35.8297
    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
    $1,386
    $0.00
    $127,197
    $127,197
    -
    $0.00
    $127,197
    $127,197

    Comparable in this City

    • Value Estimation
      $215,000
      1,000 SF

      4024 Barrett Dr, Unit 4A

      OFFICE BUILDING • 1,000 SF
      4024 Barrett Dr, Raleigh, NC 27609-6625
      View Details
    • Value Estimation
      $225,000
      920 SF

      4050 Barrett Dr, Unit 13B

      OFFICE BUILDING • 920 SF
      4050 Barrett Dr, Raleigh, NC 27609-6604
      View Details
    • Value Estimation
      $815,000
      165,600 SF

      3301 Benson Dr

      OFFICE BUILDING (MULTI-STORY) • 165,600 SF
      3301 Benson Dr, Raleigh, NC 27609-7362
      View Details
    • Value Estimation
      $345,000
      21,372 SF

      3810 Bland Rd

      OFFICE BUILDING • 21,372 SF
      3810 Bland Rd, Raleigh, NC 27609-6239
      View Details
    • Value Estimation
      $195,000
      845 SF

      314 Millbrook Rd Ste, Unit 13

      OFFICE BUILDING • 845 SF
      314 Millbrook Rd Ste, Raleigh, NC 27609-4380
      View Details
    • Value Estimation
      $195,000
      864 SF

      312 Millbrook Rd Ste, Unit 217

      OFFICE BUILDING • 864 SF
      312 Millbrook Rd Ste, Raleigh, NC 27609-4398
      View Details

    Similar Nearby for Sale

    • Contact for pricing

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    • New
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      Raleigh Office Condo For Sale

      Professional office condo near Midtown Raleigh, ideal for service businesses.
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      View Details
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      Raleigh Office Building - $215,000

      Prime 526 sq ft office suite in Raleigh, NC.
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      View Details
    • $900,000
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      Raleigh Medical Office Condo Investment

      High-yield medical office, prime location, leased.
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    • $269,000
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      Office Condo Near North Hills

      Office condo in Midtown Raleigh, near shopping and conveniences.
      4004 Barrett Dr, Raleigh, NC 27609
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    Similar Nearby for Lease

    • Contact for pricing
      133,361 SF

      Mixed-Use Tower with Retail Space

      12-story mixed-use tower with retail and parking.
      1000 Social St, Raleigh, NC 27609
      View Details
    • $24 SF/Yr
      11,050 SF

      Furnished Office Space in Raleigh

      Class A office space in Raleigh's Midtown submarket.
      3610 Bush St, Raleigh, NC 27609
      View Details
    • $93 SF/Yr
      15,357 SF

      North Hills Tower II Office Suites

      Prime Raleigh Office Space: Modern, Convenient, & LEED Gold.
      4242 Six Forks Rd, Raleigh, NC 27609
      View Details
    • $24 SF/Yr
      64,000 SF

      Raleigh Office Space: Campus North

      Prime North Raleigh Office - 2,192 SF Available
      805-811 Spring Forest Rd, Raleigh, NC 27609
      View Details
    • Contact for pricing
      82 SF

      Retail and Office Space Available

      Retail and office spaces available in Raleigh, North Carolina.
      5003 Falls Of Neuse Rd, Raleigh, NC 27609
      View Details
    • $1,995 /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
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    4004 Barrett Dr, Unit 11A
    Raleigh, NC 27609-6620
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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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