Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    5211 Lacy Ave Raleigh, NC 27609-5597
    Back to Search
    Property profile & analytics

    5211 Lacy Ave, Raleigh, NC 27609-5597

    View on Map
    • Auto shops
    • 4,176 SF
    • 0.34 lot acres
    Off-Market
    Property ID
    US53-1146255
    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

    • Henry's Muffler Shop / Auto Repair Shop

    Property Details for 5211 Lacy Ave

    Year built
    2000
    Construction
    CONCRETE BLOCKS
    Lot size
    0.34 lot acres
    Zone code
    IX-3
    Property type
    Auto shops
    APN
    1716.15-74-1727 0053379
    APU
    1716157417270053379

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Aug 12, 2022 — Henry R Tillett — Deed · related $271k · First Citizens Bank & Trust Co
    Aug 6, 2012 $485,000 H Tillett Properties LLC Hartman-davis LLC Warranty Deed $243k · First Citizens Bank & Trust Co
    Sep 7, 2007 $430,000 Hartman-davis LLC Davis,tara H Grant Deed · related —
    — — H Tillett Properties LLC — Deed Of Trust · related $243k · First Citizens Bank & Trust Co
    — — H Tillett Properties LLC — Deed Of Trust · related $243k · First Citizens Bank & Trust Co

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Raleigh
    County
    Wake
    State
    North Carolina
    Longitude
    -78.6048
    Latitude
    35.8507
    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
    $6,470
    $133,290
    $460,311
    $593,601
    -
    $133,290
    $460,311
    $593,601

    Comparable in this City

    • Value Estimation
      $775,000
      7,989 SF

      444 6th Frks Rd

      AUTO REPAIR, GARAGE
      444 6th Frks Rd, Raleigh, NC 27609-7830
      View Details
    • Value Estimation
      $605,000
      3,375 SF

      1821 Millbrook Rd

      AUTO REPAIR, GARAGE
      1821 Millbrook Rd, Raleigh, NC 27609-4911
      View Details
    • Value Estimation
      $1,145,000
      6,800 SF

      5000 Old Wake Frst Rd

      AUTO REPAIR, GARAGE
      5000 Old Wake Frst Rd, Raleigh, NC 27609-4926
      View Details
    • Value Estimation by Request
      1,845 SF

      300 6th Frks Rd

      AUTO REPAIR, GARAGE
      300 6th Frks Rd, Raleigh, NC 27609-7828
      View Details
    • Value Estimation by Request
      10,800 SF

      4901 Craftsman Dr

      AUTO REPAIR, GARAGE
      4901 Craftsman Dr, Raleigh, NC 27609-4902
      View Details
    • Value Estimation by Request
      5,616 SF

      1805 Millbrook Rd

      AUTO REPAIR, GARAGE
      1805 Millbrook Rd, Raleigh, NC 27609-4911
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      54,506 SF

      Raleigh Flex/Warehouse Distribution Center

      Two-property flex/warehouse distribution center in Raleigh's Midtown East.
      2905 Industrial Dr, Raleigh, NC 27609
      View Details
    • Contact for pricing
      2,500 SF

      Freestanding TD Bank Ground Lease

      Ground-leased TD Bank in Raleigh, NC with attractive rent escalations.
      407 E Six Forks Rd, Raleigh, NC 27609
      View Details
    • $589,500

      Land For Sale

      Land available for sale.
      1005 Temple St, Raleigh, NC 27609
      View Details
    • $3,640,000

      Medical Building For Sale

      Single-tenant medical building with surgery center build-out.
      3613 Haworth Dr, Raleigh, NC 27609
      View Details
    • Contact for pricing
      3,128 SF

      Medical Office Condo For Sale

      3,128 SF medical office condo in prime Raleigh location.
      3396 Six Forks Rd, Raleigh, NC 27609
      View Details
    • $274,900
      1,016 SF

      Professional Office Condo Near Midtown

      Second-floor office condo ideal for professional service businesses.
      4002 Barrett Dr, Raleigh, NC 27609
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      7,355 SF

      Retail Space in North Hills

      Retail property available for lease in Raleigh, North Carolina.
      4100 Main At North Hills St, Raleigh, NC 27609
      View Details
    • $28 SF/Yr

      Retail Space in Colony Center

      Retail space for lease in a busy shopping center.
      5400 Six Forks Rd, Raleigh, NC 27609
      View Details
    • Contact for pricing
      133,361 SF

      Mixed-Use Tower with Retail Space

      12-story mixed-use tower with retail and parking.
      1000 Social St, Raleigh, NC 27609
      View Details
    • Contact for pricing

      Mixed-Use and Industrial Buildings

      15 mixed-use and light industrial buildings in Midtown Raleigh.
      3101 Industrial Dr, Raleigh, NC 27609
      View Details
    • Contact for pricing
      3,106 SF

      Retail and Office Spaces Available

      Retail and office spaces for lease in North Raleigh.
      5003 E Millbrook Rd, Raleigh, NC 27609
      View Details
    • Contact for pricing

      Prime Midtown Raleigh Ground Lease

      Ground lease opportunity in high-traffic Midtown Raleigh location.
      5501 Six Forks Rd, Raleigh, NC 27609
      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.
    5211 Lacy Ave
    Raleigh, NC 27609-5597
    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
    5211 Lacy Ave, Raleigh, NC, 27609
    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!