Property profile

623 Hillsborough St Raleigh, NC 27603

OFF-MARKET
Office buildings
Property ID
US53-1968385
235,458 SF 0.85 ac lot Built 2020
Entity Owned Free & Clear
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Property profile

Verified
Property type Office buildings
Use group OFFICE BUILDING (MULTI-STORY)
Year built 2020
Construction METAL FRAME
Total area 235,458 SF
Lot 0.85 ac (37,026 SF)
Zoning code DX-12
APN 1703.06-49-1193 0020528
UPID US53-1968385

Cap rate & NOI

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

Location

623 Hillsborough St Raleigh, NC 27603-1731
Raleigh metro Census 51000 RALEIGH-CARY, NC METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
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CAP Approach CAP
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Comparable Approach Comparable
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Blend (final) Blend
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Owner & transaction history

since 2026
Last sale
$206.0M
7 recorded transactions
2026
$206.0M
2022
$172.0M
2019
Price N/A
2019
Price N/A
2019
Price N/A
2018
$1.6M
2013
$200,000

Zoning & alternative use

DX-12 · Raleigh, NC
Zoning description

The DX-12 is intended to provide for intense mixed use development of the Citysdowntown area

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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