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    6498 Ray Rd Raleigh, NC 27613-3233
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    Property profile & analytics

    6498 Ray Rd, Raleigh, NC 27613-3233

    View on Map
    • Assisted living facilities
    • 168,852 SF
    • 11.52 lot acres
    Off-Market
    Property ID
    US53-3991095
    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
    $2,715,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Capital Oaks Retirement Resort / Retirement Community

    Property Details for 6498 Ray Rd

    Year built
    2015
    Construction
    BRICK
    Lot size
    11.52 lot acres
    Zone code
    RX-4
    Property type
    Assisted living facilities
    Property subtype
    Retirement homes
    APN
    0787.20-91-9012 0035532
    APU
    787209190120035532

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jul 31, 2025 — Capital Oaks Retirement Community L — Deed · related $116.7M · New York Life Insurance Company
    Sep 18, 2017 — Capital Oaks Retirement Cmnty — Grant Deed · related $56.9M · M&t Rlty Cap
    Aug 2, 2013 $2,600,000 Capital Oaks Retirement Cmnty Stanley,evelyn B Trustees Deed · related $22.2M · Keybank USA

    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
    -78.6965
    Latitude
    35.8681
    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
    $379,170
    $5,850,000
    $28,697,725
    $34,547,725
    -
    $5,850,000
    $28,697,725
    $34,547,725

    Comparable in this City

    • Value Estimation
      $1,850,000
      113,040 SF

      7900 Creedmoor Rd

      HOMES (RETIRED, NURSING)
      7900 Creedmoor Rd, Raleigh, NC 27613-4382
      View Details
    • Value Estimation
      $2,880,000
      13,235 SF

      13300 Strickland Rd

      MEDICAL BUILDING
      13300 Strickland Rd, Raleigh, NC 27613-5220
      View Details
    • Value Estimation
      $2,590,000
      12,000 SF

      13271 Strickland Rd

      MEDICAL BUILDING
      13271 Strickland Rd, Raleigh, NC 27613-5227
      View Details
    • Value Estimation
      $910,000
      2,750 SF

      8015 Creedmoor Rd Ste, Unit 202

      MEDICAL BUILDING
      8015 Creedmoor Rd Ste, Raleigh, NC 27613-4397
      View Details
    • Value Estimation
      $580,000
      3,200 SF

      8001 Creedmoor Rd Ste, Unit 211

      MEDICAL BUILDING
      8001 Creedmoor Rd Ste, Raleigh, NC 27613-5692
      View Details
    • Value Estimation
      $540,000
      2,914 SF

      7209 Creedmoor Rd Ste, Unit 105

      MEDICAL BUILDING
      7209 Creedmoor Rd Ste, Raleigh, NC 27613-1695
      View Details

    Similar Nearby for Sale

    • Contact for pricing

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      Commercial property for sale located on Creedmoor Road.
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      Raleigh Land Building Opportunity

      Building lot in NW Wake County, ready to build.
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    • $600,000
      3.09 Acres

      Raleigh Homesite: 3.09 Acres

      3.09-acre homesite in North Raleigh, ready for construction.
      3028 Mount Vernon Church Rd, Raleigh, NC 27613
      View Details

    Similar Nearby for Lease

    • $30 SF/Yr
      967 SF

      Single-Story Office Building For Lease

      Single-story office building for lease near shopping, banks, and restaurants.
      7101 Creedmoor Rd, Raleigh, NC 27613
      View Details
    • Contact for pricing
      4,319 SF

      Retail Space Anchored by Trader Joe's

      Community shopping center in North Raleigh, anchored by major retailers.
      Creedmoor Rd & Brennan Dr, Raleigh, NC 27613
      View Details
    • Contact for pricing
      1,447 SF

      Raleigh Office Space For Lease

      Office space available for lease in Raleigh, North Carolina.
      7200 Creedmoor Rd, Raleigh, NC 27613
      View Details
    • Contact for pricing

      Retail Space in Leesville Towne

      Prominent retail position in Northwest Raleigh, anchored by Harris Teeter.
      13210 Strickland Rd, Raleigh, NC 27613
      View Details
    • Contact for pricing

      Retail Space Anchored by Harris Teeter

      Retail space available in a busy North Raleigh shopping center.
      8371 Creedmoor Rd, Raleigh, NC 27613
      View Details
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    Raleigh, NC 27613-3233
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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.

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