Sign Up Successful!
You now have access to more from Realmo!
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

    412 Morson St Raleigh, NC 27601-1558

    • Investment properties
    • 2,308 SF
    • 0.13 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-0873670
    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

    • Nasw Inc. / Association / Organization

    Property Details for 412 Morson St

    Year built
    1910
    Construction
    FRAME
    Lot size
    0.13 lot acres
    Property size
    2,308 SF
    Zone code
    OX-3
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    1703.36-88-9750 0050480
    APU
    1703368897500050480

    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
    -78.6327
    Latitude
    35.7791
    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
    $6,238
    $426,990
    $163,299
    $590,289
    -
    $426,990
    $163,299
    $590,289

    Comparable in this City

    • Value Estimation
      $1,505,000
      7,994 SF

      301 Blount St

      OFFICE/RESIDENTIAL (MIXED USE) • 7,994 SF
      301 Blount St, Raleigh, NC 27601-1007
      View Details
    • Value Estimation by Request
      1,584 SF

      226 Martin St

      OFFICE/RESIDENTIAL (MIXED USE) • 1,584 SF
      226 Martin St, Raleigh, NC 27601-1818
      View Details
    • Value Estimation
      $915,000
      5,920 SF

      105 Wilmington St

      OFFICE/RESIDENTIAL (MIXED USE) • 5,920 SF
      105 Wilmington St, Raleigh, NC 27601-1431
      View Details
    • Value Estimation by Request
      1,644 SF

      444 Blount St Ste, Unit 119

      OFFICE/RESIDENTIAL (MIXED USE) • 1,644 SF
      444 Blount St Ste, Raleigh, NC 27601-2083
      View Details
    • Value Estimation by Request
      1,719 SF

      7 St

      OFFICE/RESIDENTIAL (MIXED USE) • 1,719 SF
      7 St, Raleigh, NC 27601-1109
      View Details
    • Value Estimation
      $885,000
      4,656 SF

      327 Morgan St

      OFFICE/RESIDENTIAL (MIXED USE) • 4,656 SF
      327 Morgan St, Raleigh, NC 27601-3063
      View Details

    Similar Nearby for Sale

    • $1,520,000

      Luxury Condo in Heart of Raleigh

      Sprawling condo with open floor-plan, high ceilings, and gourmet kitchen.
      523 S West St, Raleigh, NC 27601
      View Details
    • $610,740
      2,435 SF

      Downtown Raleigh Townhome with Rooftop Terrace

      Townhome-style living near restaurants and breweries with skyline views.
      1228 S Person St, Raleigh, NC 27601
      View Details
    • $645,000
      0.07 Acres

      Downtown Raleigh Historic Gem

      Charming 2-story, mixed-use potential.
      15 Bloodworth St, Raleigh, NC 27601
      View Details
    • $441,990
      1,576 SF

      Modern Townhome-Style Condo in Raleigh

      Stylish condo with open layout, gourmet kitchen, and private balcony.
      1224 S Person St, Raleigh, NC 27601
      View Details
    • $375,000
      0.10 Acres

      Raleigh Land Investment Opportunity

      Prime land in Raleigh, perfect for investors or homeowners.
      405 Alston St, Raleigh, NC 27601
      View Details
    • $1,800,000
      8,252 SF

      Raleigh Multifamily Investment Opportunity

      Multifamily property in a desirable Raleigh location, close to downtown.
      708 Ellington St, Raleigh, NC 27601
      View Details

    Similar Nearby for Lease

    • $22 SF/Yr
      11,903 SF

      Raleigh City Plaza Office Suites

      Prestigious Office Space, Downtown Raleigh
      421 Fayetteville St, Raleigh, NC 27601
      View Details
    • $28 SF/Yr
      13,125 SF

      Downtown Raleigh Office Space

      Prime location, flexible suites, modern amenities
      107 Fayetteville St, Raleigh, NC 27601
      View Details
    • $11 SF/Yr
      5,921 SF

      Raleigh Office Space: Fayetteville St.

      Flexible Workspaces in Downtown Raleigh
      414 Fayetteville St, Raleigh, NC 27601
      View Details
    • $27 SF/Yr
      190,518 SF

      Raleigh Retail Center - Prime Location

      Historic Raleigh retail space, multiple units available.
      400 Fayetteville St, Raleigh, NC 27601
      View Details
    • $3,100 /Mo
      1,420 SF

      Modern Apartment with Rooftop Terrace

      Stylish apartment with skyline views, chef's kitchen, and fast internet.
      712 E Edenton St, Raleigh, NC 27601
      View Details
    • $1,995 /Mo
      1,440 SF

      Downtown Raleigh Condo with Courtyard

      Unique 2-story condo in the heart of Downtown Raleigh.
      258 E Davie St, Raleigh, NC 27601
      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.
    412 Morson St
    Raleigh, NC 27601-1558
    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.