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    Property profile & analytics

    4600 Old Wake Forest Rd Raleigh, NC 27609

    • Commercial real estate
    • 1.18 lot acres
    For Sale
    View listing
    $895,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-0672956
    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

    • Commercial real estate

    Property Details for 4600 Old Wake Forest Rd

    Lot size
    1.18 lot acres
    Property type
    Commercial real estate

    Description

    This 1.18-acre commercial lot in Raleigh, NC, presents a remarkable investment opportunity. Located at 4600 Old Wake Forest Rd, in Wake County (zip code 27609), this property is zoned for commercial use and offers exceptional visibility and accessibility. The asking price is $1,399,000, translating to approximately $1,399,900 per acre. Its strategic location near established businesses, including popular restaurants like Kanki and Red Lobster, ensures high traffic flow and strong potential for various commercial ventures. Architectural plans are already on file, providing a head start for development, with the option to build to suit individual needs. This site benefits from Raleigh's thriving economy, fueled by its position within the Research Triangle, a major technology and research hub. The city boasts a business-friendly environment, a highly skilled workforce, and excellent infrastructure, including convenient access to major highways and the Raleigh-Durham International Airport. The low unemployment rate and strong growth projections make this a compelling investment in a dynamic and desirable location. An approved site plan is available for review, streamlining the development process. This property represents a rare chance to acquire a prime commercial site in one of Raleigh's most vibrant areas.

    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
    -78.6098331
    Latitude
    35.8431749

    Comparable in this City

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      Raleigh Land Zoned Residential R-6

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      Prime Raleigh Acreage Opportunity

      1.18-acre lot in desirable Raleigh location, suitable for residential or commercial.
      4600 Old Wake Forest Rd, Raleigh, NC 27609
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      Prime covered land assemblage in Raleigh's North Hills submarket.
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      12 SF

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      12.60 acres in desirable North Raleigh, near amenities.
      Old Wake Forest Rd, Raleigh, NC 27609
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      50,501 SF

      Raleigh Industrial Flex Space

      50,001 SF Flex Space - NNN Lease
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    Similar Nearby for Sale

    • $65,000
      Pending

      Raleigh Land Zoned Residential R-6

      Landlocked 0.57 acre residential land in Raleigh, NC.
      5817 N Hills Dr, Raleigh, NC 27609
      View Details
    • $895,000
      1.18 Acres

      Prime Raleigh Acreage Opportunity

      1.18-acre lot in desirable Raleigh location, suitable for residential or commercial.
      4600 Old Wake Forest Rd, Raleigh, NC 27609
      View Details
    • Contact for pricing

      27.89 Acre Development Opportunity

      Prime covered land assemblage in Raleigh's North Hills submarket.
      913 Navaho Dr, Raleigh, NC 27609
      View Details
    • Contact for pricing
      12 SF

      Residential Land in North Raleigh

      12.60 acres in desirable North Raleigh, near amenities.
      Old Wake Forest Rd, Raleigh, NC 27609
      View Details
    • Contact for pricing
      50,501 SF

      Raleigh Industrial Flex Space

      50,001 SF Flex Space - NNN Lease
      1904 New Hope Church Rd, Raleigh, NC 27609
      View Details
    • $285,000
      1,016 SF

      Professional Office Condo Near Midtown

      Professional office condo ideal for service businesses near Midtown.
      4002 Barrett Dr, Raleigh, NC 27609
      View Details

    Similar Nearby for Lease

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      133,361 SF

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      North Hills Tower II Office Suites

      Prime Raleigh Office Space: Modern, Convenient, & LEED Gold.
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      Raleigh Office Space: Campus North

      Prime North Raleigh Office - 2,192 SF Available
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    4600 Old Wake Forest Rd
    Raleigh, NC 27609
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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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