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    5710 Glenwood Ave Raleigh, NC 27612
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    Property profile & analytics

    5710 Glenwood Ave Raleigh, NC 27612

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    • Commercial real estate
    • 1.24 lot acres
    Off-Market
    Property ID
    US53-0792313
    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

    • Commercial real estate

    Property Details for 5710 Glenwood Ave

    Lot size
    1.24 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional 1.24-acre commercial land parcel in Raleigh, North Carolina, presents a prime multifamily development opportunity. Located on Glenwood Avenue, a high-traffic corridor with 39,500 vehicles per day, this property boasts exceptional visibility and convenient access to major thoroughfares. The site is zoned R-4, permitting the development of up to 30 apartment units, aligning with recent city updates. An application for a 26-unit boutique apartment complex was submitted in January 2023 and is anticipated to receive approval within the next 2-3 months. Its strategic location offers proximity to key amenities and employment centers, including Crabtree Valley Mall (a 1.3 million square foot shopping center featuring Belk and Macy's), Pleasant Valley Promenade (a 359,000 square foot shopping center with Dick's Sporting Goods, Ross, and Marshalls), North Hills (10 minutes away), downtown Raleigh (15 minutes away), and Research Triangle Park (20 minutes away). Easy access to I-440 (5 minutes) and I-540 (10 minutes) further enhances its appeal. This property offers a unique chance to create a thriving apartment community in a highly desirable Raleigh location. The asking price is $1,150,000. The address is 5710 Glenwood Ave, Raleigh, NC 27612, in Wake County.

    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
    -78.6958219
    Latitude
    35.8521394

    Comparable in this City

    • $1,200,000
      0.61 Acres

      Prime Lot in Raleigh

      Desirable 0.61-acre lot for residential development or investment.
      6217 Creedmoor Rd, Raleigh, NC 27612
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    • New
      $575,500
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      Raleigh Land with Approved Plans

      Rare opportunity to craft a residence in a private lot.
      4120 Picardy Dr, Raleigh, NC 27612
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      2.28 Acres on West Millbrook

      2.28 acres of land on West Millbrook Road, Raleigh.
      1910 W Millbrook Rd, Raleigh, NC 27612
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    • $450,000
      Pending

      Raleigh Acre for Development

      Rare opportunity for development in established North Raleigh neighborhood.
      1900 Wimbish Ln, Raleigh, NC 27612
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    • $350,000
      0.45 Acres

      Residential Land in Raleigh, NC

      0.45-acre land parcel for residential development in Raleigh, NC.
      4017 Balsam Dr, Raleigh, NC 27612
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    • $2,490,000
      7,196 SF

      Class A Office Space Available

      Premium, updated office condo in West Raleigh submarket for sale.
      3210 Fairhill Dr, Raleigh, NC 27612
      View Details

    Similar Nearby for Sale

    • $1,200,000
      0.61 Acres

      Prime Lot in Raleigh

      Desirable 0.61-acre lot for residential development or investment.
      6217 Creedmoor Rd, Raleigh, NC 27612
      View Details
    • New
      $575,500
      0.60 Acres

      Raleigh Land with Approved Plans

      Rare opportunity to craft a residence in a private lot.
      4120 Picardy Dr, Raleigh, NC 27612
      View Details
    • Contact for pricing

      2.28 Acres on West Millbrook

      2.28 acres of land on West Millbrook Road, Raleigh.
      1910 W Millbrook Rd, Raleigh, NC 27612
      View Details
    • $450,000
      Pending

      Raleigh Acre for Development

      Rare opportunity for development in established North Raleigh neighborhood.
      1900 Wimbish Ln, Raleigh, NC 27612
      View Details
    • $350,000
      0.45 Acres

      Residential Land in Raleigh, NC

      0.45-acre land parcel for residential development in Raleigh, NC.
      4017 Balsam Dr, Raleigh, NC 27612
      View Details
    • $2,490,000
      7,196 SF

      Class A Office Space Available

      Premium, updated office condo in West Raleigh submarket for sale.
      3210 Fairhill Dr, Raleigh, NC 27612
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,000 SF

      Retail and Office Space Available

      Located near Townridge Shopping Center with high visibility and traffic.
      4112 Pleasant Valley Rd, Raleigh, NC 27612
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    • $26 SF/Yr

      Mirrored Glass Office Building

      Four-story office building in desirable Northwest Raleigh location.
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      3,479 SF

      Glenwood Avenue Retail Space

      Retail property available for lease on Glenwood Avenue.
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      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
    • Contact for pricing
      5,432 SF

      Blue Ridge Road Office Space

      Medical or general office space for lease near UNC Rex.
      3126 Blue Ridge Rd, Raleigh, NC 27612
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    • $25 SF/Yr
      13,181 SF

      Glenwood Avenue Office Space Available

      Office space for lease with flexible floor plans.
      5811 Glenwood Ave, Raleigh, NC 27612
      View Details
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    5710 Glenwood Ave
    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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    5710 Glenwood Ave, Raleigh, NC, 27612
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