Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    7129 Cheviot Hls Dr Raleigh, NC 27616-5874

    Property Lookup

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

    7129 Cheviot Hls Dr Raleigh, NC 27616-5874

    View on Map
    • Retail space
    • 6,860 SF
    • 3.11 lot acres
    Off-Market
    Last Sale Dec 17, 2025
    $4,500,000
    Property ID
    US53-0689060
    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

    • Retail space

    Property Details for 7129 Cheviot Hls Dr

    Year built
    1971
    Construction
    METAL FRAME
    Lot size
    3.11 lot acres
    Property size
    6,860 SF
    Zone code
    IX-3
    Property type
    Retail space
    APN
    1727.11-66-7455 0005145
    APU
    1727116674550005145

    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
    -78.5721
    Latitude
    35.8827
    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
    $24,202
    $1,082,692
    $1,137,684
    $2,220,376
    -
    $1,082,692
    $1,137,684
    $2,220,376

    Comparable in this City

    • Value Estimation
      $1,380,000
      5,915 SF

      5100 Capital Blvd

      RETAIL STORES (PERSONAL SERVICES) • 5,915 SF
      5100 Capital Blvd, Raleigh, NC 27616-4544
      View Details
    • Value Estimation
      $3,685,000
      20,194 SF

      3611 Spg Frst Rd

      RETAIL STORES (PERSONAL SERVICES) • 20,194 SF
      3611 Spg Frst Rd, Raleigh, NC 27616-4620
      View Details
    • Value Estimation
      $2,305,000
      13,072 SF

      6109 Maddry Oaks Ct

      RETAIL STORES (PERSONAL SERVICES) • 13,072 SF
      6109 Maddry Oaks Ct, Raleigh, NC 27616-3334
      View Details
    • Value Estimation
      $2,900,000
      17,812 SF

      8821 Wadford Dr

      RETAIL STORES (PERSONAL SERVICES) • 17,812 SF
      8821 Wadford Dr, Raleigh, NC 27616-9057
      View Details
    • Value Estimation
      $655,000
      3,705 SF

      7540 Ramble Way Ste, Unit 101

      RETAIL STORES (PERSONAL SERVICES) • 3,705 SF
      7540 Ramble Way Ste, Raleigh, NC 27616-4318
      View Details
    • Value Estimation
      $635,000
      2,628 SF

      2621 Spg Frst Rd Ste, Unit 101

      RETAIL STORES (PERSONAL SERVICES) • 2,628 SF
      2621 Spg Frst Rd Ste, Raleigh, NC 27616-1830
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Retail Space Near Triangle Town

      2,320 SF retail space in Raleigh's growing area.
      7810 Target Cir, Raleigh, NC 27616
      View Details
    • Contact for pricing
      11,200 SF

      Modern Flex Building in Raleigh

      Versatile 11,200 SF flex building suitable for diverse uses.
      4550 Preslyn Dr, Raleigh, NC 27616
      View Details
    • Contact for pricing
      11,200 SF

      Modern Flex Building in Raleigh

      11,200 SF flex building built in 2021 for sale.
      4550 Preslyn Dr, Raleigh, NC 27616
      View Details
    • $430,000
      1 SF

      Mixed-Use Property on Louisburg Road

      High-visibility mixed-use property in rapidly expanding Raleigh corridor.
      4424 Loiusburg Rd, Raleigh, NC 27616
      View Details
    • $3,900,000
      11,200 SF

      Modern Flex Building in Raleigh

      Built in 2021, suitable for industrial, office, retail.
      4550 Preslyn Dr, Raleigh, NC 27616
      View Details
    • Contact for pricing
      12,713 SF

      Retail Spaces Near Triangle Town

      Retail spaces available in Raleigh, near Triangle Town Center.
      5821 Target Cir, Raleigh, NC 27616
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Raleigh Retail Outparcels For Rent

      Retail outparcels available in high-growth Raleigh location.
      Buffaloe Rd & Forestville Rd, Raleigh, NC 27616
      View Details
    • Contact for pricing

      Retail/Office Space For Lease

      Multi-tenant retail building with spaces suitable for retail or office.
      2900 Spring Forest Rd, Raleigh, NC 27616
      View Details
    • Contact for pricing
      154,004 SF

      Retail Space in Raleigh Mall

      154,004 SF retail space available in Raleigh, NC.
      7330 Old Wake Forest Rd, Raleigh, NC 27616
      View Details
    • $16 SF/Yr

      Prime Retail Space on Capital

      Exceptional retail space with high visibility and ample parking.
      5410 Capital Blvd, Raleigh, NC 27616
      View Details
    • $17 SF/Yr
      17,250 SF

      Capital Blvd Retail Opportunity

      Prime retail space with high visibility and ample parking.
      5410 Capital Blvd, Raleigh, NC 27616
      View Details
    • Contact for pricing
      57,534 SF

      Retail Space in Plantation Point

      Retail space available in North Raleigh shopping center.
      6250 Plantation Center Dr, Raleigh, NC 27616
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    7129 Cheviot Hls Dr
    Raleigh, NC 27616-5874
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry

    7129 Cheviot Hls Dr, Raleigh, NC, 27616

    letter with green check mark
    Check your email

    We sent you the

    agent's contact details. yellow underline

    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!