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    4724 Hargrove Rd Raleigh, NC 27616-2801
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    Property profile & analytics

    4724 Hargrove Rd Raleigh, NC 27616-2801

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    • Warehouses
    • 34,665 SF
    • 2.32 lot acres
    For Lease
    $19 SF/Yr
    View Listing →
    Versatile Flex Suite in Raleigh For Lease
    $19 SF/Yr
    34,665 SF

    Versatile Flex Suite in Raleigh

    1,200 SF flex suite with offices, storage, and accessibility.

    4724 Hargrove Rd, Raleigh, NC 27616
    View Listing
    Property ID
    US53-1208455
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Raleigh School of Gymnastics / Gym & Fitness Center
    • Cremation Society-Carolinas / Social Service Agency
    • Think Promotional Group / Marketing & Advertising
    • Business Permanently Closed / Cafe & Coffee Shop
    • AtWork Personnel / Employment Agency

    Property Details for 4724 Hargrove Rd

    Year built
    1998
    Construction
    METAL FRAME
    Lot size
    2.32 lot acres
    Property size
    34,665 SF
    Zone code
    IX-3
    Property type
    Warehouses
    APN
    1726.13-14-2969 0188850
    APU
    1726131429690188850

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $4,490,000
      6.5%
      $4,145,000
      7%
      $3,850,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $2,223,000
      Market price range: $1.60M - $5.22M

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

    Location Insight

    • Map
    • Local Demand
    City
    Raleigh
    County
    Wake
    State
    North Carolina
    Longitude
    -78.5909
    Latitude
    35.8513
    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
    $33,322
    $409,289
    $2,647,754
    $3,057,043
    -
    $409,289
    $2,647,754
    $3,057,043

    Comparable in this City

    • Value Estimation
      $1,760,000
      19,736 SF

      8471 Garvey Dr

      WAREHOUSE, STORAGE • 19,736 SF
      8471 Garvey Dr, Raleigh, NC 27616-3369
      View Details
    • Value Estimation
      $975,000
      8,850 SF

      2712 Discovery Dr

      WAREHOUSE, STORAGE • 8,850 SF
      2712 Discovery Dr, Raleigh, NC 27616-1850
      View Details
    • Value Estimation
      $3,630,000
      31,860 SF

      2609 Discovery Dr

      WAREHOUSE, STORAGE • 31,860 SF
      2609 Discovery Dr, Raleigh, NC 27616-1904
      View Details
    • Value Estimation
      $5,485,000
      49,005 SF

      4940 Capital Blvd

      MINI-WAREHOUSE, STORAGE • 49,005 SF
      4940 Capital Blvd, Raleigh, NC 27616-4407
      View Details
    • Value Estimation
      $14,630,000
      119,840 SF

      8730 Wadford Dr

      WAREHOUSE, STORAGE • 119,840 SF
      8730 Wadford Dr, Raleigh, NC 27616-9027
      View Details
    • Value Estimation by Request
      45,586 SF

      2500 Sumner Blvd

      WAREHOUSE, STORAGE • 45,586 SF
      2500 Sumner Blvd, Raleigh, NC 27616-3235
      View Details

    Similar Nearby for Sale

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      9,840 SF

      Turnkey Flex Property For Sale

      9,840 SF flex property in prime North Raleigh location.
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    • Contact for pricing
      11,200 SF

      Modern Flex Building in Raleigh

      Versatile 11,200 SF flex building suitable for diverse uses.
      4550 Preslyn Dr, Raleigh, NC 27616
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      Northeast Raleigh Warehouse with Dock

      8,000 SF warehouse with convenient access to major highways.
      3501 Spring Forest Rd, Raleigh, NC 27616
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    • $3,900,000
      11,200 SF

      Modern Flex Building in Raleigh

      11,200 SF flex building built in 2021 for sale.
      4550 Preslyn Dr, Raleigh, NC 27616
      View Details
    • $760,000
      1,833 SF

      Commercial Flex Space with Mezzanine

      1833 sq ft flex space with bay door.
      5621 Departure Dr, Raleigh, NC 27616
      View Details
    • $3,900,000
      11,200 SF

      Modern Flex Building in Raleigh

      Built in 2021, suitable for industrial, office, retail.
      4550 Preslyn Dr, Raleigh, NC 27616
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    Similar Nearby for Lease

    • Contact for pricing
      5,400 SF

      North Raleigh Freestanding Flex Building

      5,400 SF flex building with outside storage in Raleigh.
      8460 Garvey Dr, Raleigh, NC 27616
      View Details
    • $16 SF/Yr
      10,800 SF

      North Raleigh Flex Space Available

      Flex and warehouse spaces in North Raleigh with drive-in doors.
      8411 Garvey Dr, Raleigh, NC 27616
      View Details
    • $10,000 /Mo
      Pending

      Raleigh Commercial Flex Space Available

      Commercial flex space with offices, mezzanine, and bay door.
      5621 Departure Dr, Raleigh, NC 27616
      View Details
    • $16 SF/Yr
      11,200 SF

      Raleigh Industrial/Warehouse Space Available

      Move-in ready industrial/warehouse space in a well-located Raleigh corridor.
      4550 Preslyn Dr, Raleigh, NC 27616
      View Details
    View Listing
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    Raleigh, NC 27616-2801
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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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