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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    6840 Glenwood Ave Raleigh, NC 27612-7133

    • Drug stores
    • 10,125 SF
    • 1.00 lot acres
    OFF-MARKET
    Value Estimations
    $2,485,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-0404513
    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.

    Current Use by Public Records

    • Harris Jean A / Physician
    • Juliann Marques / Physician
    • Ke Yang / Pediatrician / Physician
    • William Chapman Jr, RPH / Pharmacy
    • Robert L. Burney, RPH / Pharmacy

    Property Details for 6840 Glenwood Ave

    Year built
    1999
    Construction
    BRICK
    Lot size
    1.00 lot acres
    Property size
    10,125 SF
    Zone code
    CX-3
    Property type
    Drug stores
    APN
    0786.07-59-5193 0013037
    APU
    786075951930013037

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,820,000
      6.5%
      $2,605,000
      7%
      $2,420,000

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $3,980,000
      Current use
      COMMERCIAL (GENERAL)
      $3,285,000
      Change: -17% Conversion: Easy
      MEDICAL BUILDING
      $3,195,000
      Change: -20% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Raleigh
    County
    Wake
    State
    North Carolina
    Longitude
    -78.7111
    Latitude
    35.863
    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
    $38,135
    $752,717
    $2,745,872
    $3,498,589
    -
    $752,717
    $2,745,872
    $3,498,589

    Comparable in this City

    • Value Estimation
      $3,535,000
      14,450 SF

      6901 Glenwood Ave

      DRUG STORE, PHARMACY • 14,450 SF
      6901 Glenwood Ave, Raleigh, NC 27612-7142
      View Details
    • Value Estimation
      $3,725,000
      14,539 SF

      3432 Edwards Ml Rd

      DRUG STORE, PHARMACY • 14,539 SF
      3432 Edwards Ml Rd, Raleigh, NC 27612-5360
      View Details
    • Value Estimation
      $2,880,000
      11,183 SF

      2201 Millbrook Rd

      DRUG STORE, PHARMACY • 11,183 SF
      2201 Millbrook Rd, Raleigh, NC 27612-2297
      View Details
    • Value Estimation
      $1,470,000
      6,400 SF

      6909 Glenwood Ave

      RETAIL STORES (PERSONAL SERVICES) • 6,400 SF
      6909 Glenwood Ave, Raleigh, NC 27612-7100
      View Details
    • Value Estimation
      $1,500,000
      1,827 SF

      4123 Glenwood Ave

      GROCERY, SUPERMARKET • 1,827 SF
      4123 Glenwood Ave, Raleigh, NC 27612-4625
      View Details
    • Value Estimation
      $585,000
      3,800 SF

      4501 Delta Lk Dr

      GROCERY, SUPERMARKET • 3,800 SF
      4501 Delta Lk Dr, Raleigh, NC 27612-7009
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Retail Space Near Glenwood Avenue

      Retail space with high visibility and traffic counts available for sale.
      5910 Duraleigh Rd, Raleigh, NC 27612
      View Details
    • $6,750,000
      2.77 Acres

      Glenwood Ave NNN Investment

      Raleigh, NC: 2 National Tenants
      6425 Glenwood Ave, Raleigh, NC 27612
      View Details
    • $500,000
      0.55 Acres

      Raleigh Retail Land Investment Opportunity

      High-growth area, 0.55 acres, 20,909 SF
      5724 Creedmoor Rd, Raleigh, NC 27612
      View Details
    • $2,897,000
      7 SF

      Restaurant Investment Opportunity Near Mall

      Restaurant property for sale near Crabtree Valley Mall.
      5300 Homewood Banks Dr, Raleigh, NC 27612
      View Details
    • Contact for pricing

      Retail Property Near Crabtree Valley

      Retail property across from Crabtree Valley Mall in North Raleigh.
      4408 Marriott Dr, Raleigh, NC 27612
      View Details
    • Contact for pricing
      1,459 SF

      Mid-Century Condo in West Raleigh

      Updated 3 bed/2.5 bath condo with modern amenities and prime location.
      4649 Edwards Mill Rd, Raleigh, NC 27612
      View Details

    Similar Nearby for Lease

    • $1,800 /Mo
      7,194 SF

      Raleigh Retail/Office Space Available

      Desirable Raleigh location, convenient to shopping, dining, and major routes.
      6014 Duraleigh Rd, Raleigh, NC 27612
      View Details
    • $24 SF/Yr
      19,920 SF

      Retail Space on Duraleigh Road

      Endcap retail space with high visibility and traffic counts.
      5800 Duraleigh Rd, Raleigh, NC 27612
      View Details
    • Contact for pricing
      359,922 SF

      Raleigh Executive Office Suites

      Prime Raleigh location, multiple suites available.
      70 Glenwood Ave. & Pleasant Vly Rd, Raleigh, NC 27612
      View Details
    • $25 SF/Yr
      92,600 SF

      Crosspointe II: Premier Office Space

      Executive Suites, North Raleigh, NC
      2840 Plaza Pl, Raleigh, NC 27612
      View Details
    • $1,900 /Mo
      1,059 SF

      Raleigh Office Space Sublet

      Short-term office space available in Raleigh, NC.
      5171 Glenwood Ave, Raleigh, NC 27612
      View Details
    • Contact for pricing

      Glenwood Ave

      Workspaces, services and support to help you work better in Shelton
      8024 Glenwood Ave, Raleigh, NC 27612
      View Details
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    6840 Glenwood Ave
    Raleigh, NC 27612-7133
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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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