Property profile

5563 Western Blvd Raleigh, NC 27606

OFF-MARKET
Strip malls
Property ID
US53-1659858
16,650 SF 7.64 ac lot Built 1985
Entity Owned 7-yr Hold Free & Clear
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Property summary

AI-generated overview

Plaza West Shopping Center, located at 5563 Western Blvd (Space 10-10A) in Raleigh, NC (Wake County, zip code 27606), offers a prime retail opportunity within a thriving strip center. This established center boasts a total of 62,558 square feet of retail space. Currently, there is 5,000 square feet of vacant space available, perfect for a variety of retail uses. Individual spaces range from a minimum of 2,400 square feet to a maximum contiguous space of 3,600 square feet. The property's location in Wake County provides excellent access to a dense population base and high traffic volume along Western Boulevard. This presents a unique chance for businesses seeking high visibility and convenient access for customers. The property is classified as a multi-tenant retail strip center, offering a dynamic and established commercial environment. Interested parties should note the available space is suitable for businesses requiring between 2,400 and 3,600 square feet. This presents a compelling opportunity for businesses seeking a well-located and established retail space in a high-traffic area of Raleigh.

Property profile

Verified
Property type Strip malls
Use group SHOPPING CENTER, STRIP CENTER
Year built 1985
Construction CONCRETE BLOCKS
Total area 16,650 SF
Lot 7.64 ac (332,798 SF)
Zoning code CX-3
APN 0784.18-20-8493 0133620
UPID US53-1659858

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Discount Store
  • Atm Currency Exchange Service
  • Bank Credit Union
  • Bank Credit Union
  • Atm

Location

5563 Western Blvd Raleigh, NC 27606-1888
Raleigh metro Census 52407 RALEIGH-CARY, NC METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
$4.93M
Comparable Approach Comparable
by Request
Blend (final) Blend
$4.43M

Owner & transaction history

since 2018
3 recorded transactions
2018
$7.9M
2016
Price N/A
1969
Price N/A

Zoning & alternative use

CX-3 · Raleigh, NC
Zoning description

The CX-3 is intended to provide for a variety of residential, retail, service andcommercial uses

General category MIXED_USE

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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