Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    500 Hargett St Raleigh, NC 27601-1553
    Back to Search
    Property profile & analytics

    500 Hargett St Raleigh, NC 27601-1553

    View on Map
    • Garden apartment buildings
    • 41,550 SF
    • 1.37 lot acres
    Off-Market
    Last Sale Aug 24, 2020
    $7,427,500
    Property ID
    US53-1943542
    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
    $8,215,000
    Show details
    Cap Rate Potential
    4.3%
    Garden apartment buildings
    Location Intelligence

    Current Use by Public Records

    • Capital Flats Apartments / Apartment Building / Apartment Complex
    • Capital Flats & Magnolia Square Apartments / Apartment Complex
    • Raleigh Roofing Experts / Roofing Company / General Contractor
    • Food Distribution Center - Wintershaven / Food Bank / Charitable Organization

    Property Details for 500 Hargett St

    Year built
    1982
    Lot size
    1.37 lot acres
    Property size
    41,550 SF
    Zone code
    RX-3
    Property type
    Garden apartment buildings
    APN
    1703.36-98-1174 0060236
    APU
    1703369811740060236

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $9,735,000
      ML approach
      $9,980,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $7,050,000
      6.5%
      $6,510,000
      7%
      $6,045,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Raleigh
    County
    Wake
    State
    North Carolina
    Longitude
    -78.6319
    Latitude
    35.7776
    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
    $71,911
    $3,843,000
    $2,642,380
    $6,485,380
    -
    $3,843,000
    $2,642,380
    $6,485,380

    Comparable in this City

    • Value Estimation by Request
      3,276 SF

      909 Blount St

      GARDEN APT, COURT APT (5+ UNITS) • 3,276 SF
      909 Blount St, Raleigh, NC 27601-2664
      View Details
    • Value Estimation
      $570,000
      7,154 SF

      102 State St

      GARDEN APT, COURT APT (5+ UNITS) • 7,154 SF
      102 State St, Raleigh, NC 27601-1283
      View Details
    • Value Estimation
      $735,000
      4,698 SF

      909 Davie St

      GARDEN APT, COURT APT (5+ UNITS) • 4,698 SF
      909 Davie St, Raleigh, NC 27601-1655
      View Details
    • Value Estimation by Request
      3,016 SF

      900 Ln St

      GARDEN APT, COURT APT (5+ UNITS) • 3,016 SF
      900 Ln St, Raleigh, NC 27601-1234
      View Details
    • Value Estimation
      $515,000
      4,350 SF

      536 Davie St

      GARDEN APT, COURT APT (5+ UNITS) • 4,350 SF
      536 Davie St, Raleigh, NC 27601-1982
      View Details
    • Value Estimation
      $5,100,000
      74,816 SF

      422 Person St

      GARDEN APT, COURT APT (5+ UNITS) • 74,816 SF
      422 Person St, Raleigh, NC 27601-2680
      View Details

    Similar Nearby for Sale

    • $435,000
      936 SF

      Updated Duplex in Downtown Raleigh

      Turnkey duplex in downtown Raleigh, ideal for short-term rentals.
      740 Quarry St, Raleigh, NC 27601
      View Details
    • $975,000
      2,513 SF

      Updated Duplexes Near Downtown Raleigh

      Four updated units near Chavis Park, walkable to downtown.
      509 Cape Ave, Raleigh, NC 27601
      View Details
    • $425,000
      1,769 SF

      Raleigh Duplex Investment Opportunity

      Income-generating duplex near Downtown Raleigh's parks, schools, and entertainment.
      217 Heck St, Raleigh, NC 27601
      View Details
    • Contact for pricing

      Raleigh Warehouse District Redevelopment Land

      0.61-acre assemblage suitable for multifamily or restaurant/bar development.
      518 W South St, Raleigh, NC 27601
      View Details
    • $425,000
      Pending

      Downtown Mixed-Use Property

      Mixed-use property in unbeatable downtown location, suitable for commercial or residential.
      810 E Edenton St, Raleigh, NC 27601
      View Details
    • $645,000

      Historic Mixed-Use Property in Raleigh

      Charming two-story property zoned for commercial and residential use.
      15 S Bloodworth St, Raleigh, NC 27601
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      NC, Raleigh - Fayetteville St

      Workspaces, services and support to help you grow your business in NC, Raleigh - Fayetteville St
      414 Fayetteville St, Raleigh, NC 27601
      View Details
    • Contact for pricing
      18,091 SF

      Downtown Raleigh Office Sublease Opportunity

      Office space available for sublease in downtown Raleigh.
      411 Fayetteville St, Raleigh, NC 27601
      View Details
    • Contact for pricing
      900 SF

      Downtown Restaurant Space For Rent

      Restaurant space available in downtown Raleigh's City Plaza.
      442 Fayetteville St, Raleigh, NC 27601
      View Details
    • Contact for pricing
      46,078 SF

      Class A Office Tower Space

      Downtown Raleigh Class A office space for sublease.
      421 Fayetteville St, Raleigh, NC 27601
      View Details
    • Contact for pricing

      Raleigh City Plaza

      Discover many ways to work your way in Raleigh City Plaza
      421 Fayetteville St, Raleigh, NC 27601
      View Details
    • Contact for pricing

      Office Space with City Plaza Views

      11th-floor office space in Raleigh's central business district.
      421 Fayetteville 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.
    500 Hargett St
    Raleigh, NC 27601-1553
    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

    Thank You for Inquiry
    500 Hargett St, Raleigh, NC, 27601
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!