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

    5171 Glenwood Ave, Unit 355 Raleigh, NC 27612

    • Office buildings
    • 102,258 SF
    • 6.78 lot acres
    For Lease
    View listing
    $1,900 /Mo
    Last Sale
    Sep 24, 2021
    $11,500,000
    Value Estimations
    $10,995,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-5825057
    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

    • Kurtosys Systems / Software Company
    • Bankers Insurance LLC / Insurance Broker
    • Colonial Webb Contractors / Mechanical Contractor
    • Lung Cancer Initiative / Non-Profit Organization
    • Tejvi Salon / Beauty Salon

    Property Details for 5171 Glenwood Ave

    Year built
    1981
    Lot size
    6.78 lot acres
    Property size
    102,258 SF
    Zone code
    OX-4
    Property type
    Office buildings
    APN
    0796.13-12-6886 0110742
    APU
    796131268860110742

    Description

    This 1,195 square foot office suite, located at 5171 Glenwood Ave, Suite 486, Raleigh, NC 27612, is a single-tenant space ideal for businesses seeking a professional environment. Situated within a larger two-building complex totaling 149,000 square feet, this suite boasts a desirable location in Raleigh's North Carolina Triangle Area, offering easy access to Crabtree Valley Mall, North Hills, and I-440. Built in 1983 and renovated in 2003, the property features modernized amenities including a new conference center, updated lobbies, and a fully-equipped fitness center. The suite itself includes two large private offices, a conference room, a break room, a data/storage room, and a kitchenette complete with a refrigerator and dishwasher. Existing desks and office furniture are negotiable. The property is zoned OX-3 and benefits from proximity to the Raleigh Greenway. This is a fantastic opportunity to establish your business in a convenient and well-amenitized location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $10,805,000
      ML approach
      $10,990,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $15,186,000
      Market price range: $15.2M - $24.7M
      AI Estimate
      $10,181,000
      Market price range: $4.81M - $20.3M

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

    Location Insight

    • Map
    • Local Demand
    City
    Raleigh
    County
    Wake
    State
    North Carolina
    Longitude
    -78.6907
    Latitude
    35.8454
    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
    $130,212
    $2,950,417
    $8,995,616
    $11,946,033
    -
    $2,950,417
    $8,995,616
    $11,946,033

    Comparable in this City

    • Value Estimation
      $15,780,000
      131,354 SF

      3605 Glenwood Ave, Unit LH

      OFFICE BUILDING (MULTI-STORY) • 131,354 SF
      3605 Glenwood Ave, Raleigh, NC 27612-4954
      View Details
    • Value Estimation by Request
      750 SF

      5500 Mcneely Dr Ste, Unit 202

      OFFICE BUILDING • 750 SF
      5500 Mcneely Dr Ste, Raleigh, NC 27612-7623
      View Details
    • Value Estimation
      $2,800,000
      22,732 SF

      8016 Glenwood Ave

      OFFICE BUILDING • 22,732 SF
      8016 Glenwood Ave, Raleigh, NC 27612-1949
      View Details
    • Value Estimation
      $4,960,000
      27,684 SF

      4300 Glenwood Ave

      OFFICE BUILDING • 27,684 SF
      4300 Glenwood Ave, Raleigh, NC 27612-4505
      View Details
    • Value Estimation
      $1,155,000
      5,200 SF

      8541 Glenwood Ave

      OFFICE BUILDING • 5,200 SF
      8541 Glenwood Ave, Raleigh, NC 27612-7358
      View Details
    • Value Estimation
      $9,255,000
      54,972 SF

      3105 Glenwood Ave

      OFFICE BUILDING • 54,972 SF
      3105 Glenwood Ave, Raleigh, NC 27612-5059
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      32,225 SF

      Landmark Office Building For Sale

      Prominent office building at a recognized intersection near Crabtree Valley.
      4801 Glenwood Ave, Raleigh, NC 27612
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    • $423,325
      1 SF

      Office Condo in Glenwood/Creedmoor

      Office condo for sale in convenient Glenwood/Creedmoor submarket.
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      Glenwood Avenue Office Space Available

      Office space with walkable amenities and high visibility on Glenwood.
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    • $700,000
      2,027 SF

      Furnished Office Condo on Creedmoor

      Furnished office condo for sale in North Raleigh.
      5720 Creedmoor Rd, Raleigh, NC 27612
      View Details
    • Contact for pricing

      Raleigh Office Condo For Lease

      Furnished Office Suite, Prime Location
      5500 Mcneely Dr, Raleigh, NC 27612
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    • $500,000
      0.55 Acres

      Raleigh Retail Land Investment Opportunity

      High-growth area, 0.55 acres, 20,909 SF
      5724 Creedmoor Rd, Raleigh, NC 27612
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      11,668 SF

      Raleigh Office Space - Hollyridge Drive

      Prime Office Suite, Glenwood Ave. Location
      5109 Hollyridge Drive Raleigh, NC 27612, Raleigh, NC 27612
      View Details
    • $25 SF/Yr
      92,600 SF

      Class A Office Space Raleigh

      Class A office building in prime North Raleigh location.
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      View Details
    • $25 SF/Yr
      92,600 SF

      Crosspointe II: Premier Office Space

      Executive Suites, North Raleigh, NC
      2840 Plaza Pl, Raleigh, NC 27612
      View Details
    • $1,900 /Mo
      1,059 SF

      Raleigh Office Space Sublet

      Short-term office space available in Raleigh, NC.
      5171 Glenwood Ave, Raleigh, NC 27612
      View Details
    • Contact for pricing
      30,074 SF

      Glenwood Ave Executive Suites

      Raleigh Office Space: Prime Location, Flexible Lease
      5811 Glenwood Ave, Raleigh, NC 27612
      View Details
    • $1,800 /Mo
      7,194 SF

      Raleigh Retail/Office Space Available

      Desirable Raleigh location, convenient to shopping, dining, and major routes.
      6014 Duraleigh Rd, Raleigh, NC 27612
      View Details
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    Raleigh, NC 27612
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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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