Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    720 Jones St Raleigh, NC 27603-1427

    • Medical offices
    • 2,756 SF
    • 0.19 lot acres
    OFF-MARKET
    Last Sale
    Feb 26, 2021
    $650,000
    Value Estimations
    $820,000
    Show details
    Cap Rate Potential
    5%
    Medical offices
    Location Intelligence
    Property ID
    US53-0406912
    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

    • Khera Gynecology & Wellness / Gynecologist
    • State of the Art / Physical Therapy Clinic

    Property Details for 720 Jones St

    Year built
    1910
    Construction
    FRAME
    Lot size
    0.19 lot acres
    Property size
    2,756 SF
    Zone code
    OX-3
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    1704.18-30-6166 0070576
    APU
    1704183061660070576

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $805,000
      ML approach
      $845,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $665,000
      6.5%
      $615,000
      7%
      $570,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,101,000
      Market price range: $612k - $1.10M
      AI Estimate
      $653,000
      Market price range: $162k - $658k

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $870,000
      Current use
      COMMERCIAL (GENERAL)
      $1,110,000
      Change: +28% Conversion: Easy
      OFFICE BUILDING
      $910,000
      Change: +5% Conversion: Easy
      AUTO REPAIR, GARAGE
      $815,000
      Change: -7% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Raleigh
    County
    Wake
    State
    North Carolina
    Longitude
    -78.6505
    Latitude
    35.7832
    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
    $9,831
    $537,940
    $363,984
    $901,924
    -
    $537,940
    $363,984
    $901,924

    Comparable in this City

    • Value Estimation
      $350,000
      8,664 SF

      320 Gideon Crk Way

      MEDICAL BUILDING • 8,664 SF
      320 Gideon Crk Way, Raleigh, NC 27603-3584
      View Details
    • Value Estimation
      $280,000
      1,280 SF

      3803 Jct Blvd

      MEDICAL BUILDING • 1,280 SF
      3803 Jct Blvd, Raleigh, NC 27603-5264
      View Details
    • Value Estimation
      $450,000
      3,640 SF

      7750 10th 10th Rd

      MEDICAL BUILDING • 3,640 SF
      7750 10th 10th Rd, Raleigh, NC 27603-8852
      View Details
    • Value Estimation
      $1,275,000
      3,873 SF

      8065 10th 10th Rd

      MEDICAL BUILDING • 3,873 SF
      8065 10th 10th Rd, Raleigh, NC 27603-8520
      View Details
    • Value Estimation
      $225,000
      640 SF

      3805 Jct Blvd

      MEDICAL BUILDING • 640 SF
      3805 Jct Blvd, Raleigh, NC 27603-5264
      View Details
    • Value Estimation
      $550,000
      14,080 SF

      7133 Rock Service Sta Rd

      HOMES (RETIRED, NURSING) • 14,080 SF
      7133 Rock Service Sta Rd, Raleigh, NC 27603-8307
      View Details

    Similar Nearby for Sale

    • $3,000,000
      6 SF

      Two-Building Office Property For Sale

      Two office buildings totaling 6,634 SF on 0.42 acres.
      715 W Morgan St, Raleigh, NC 27603
      View Details
    • $2,775,000
      6,342 SF

      Historic Office Building and Duplex

      Two-story historic office building and duplex with parking lot.
      1117 Hillsborough St, Raleigh, NC 27603
      View Details
    • Contact for pricing
      6,104 SF

      Renovated Office Building in Raleigh

      Modern office building in downtown Raleigh's Glenwood South neighborhood.
      107 Glenwood Ave, Raleigh, NC 27603
      View Details
    • Contact for pricing
      12,000 SF

      Warehouse/Office Space For Sale

      11,000 SF warehouse/office space in Southwest Wake County.
      825 Kitchen Dr, Raleigh, NC 27603
      View Details
    • $2,775,000
      6,342 SF

      Historic Office Building and Duplex

      Two-story office building and duplex in Downtown Raleigh.
      1117 W Morgan St, Raleigh, NC 27603
      View Details
    • $4,797,000
      12.30 Acres

      Raleigh Mixed-Use Development Land

      12.3 Acres, Hwy 401 Frontage, Prime Location
      7608 Fayetteville Rd, Raleigh, NC 27603
      View Details

    Similar Nearby for Lease

    • $18 SF/Yr
      8,000 SF

      Modern Workspace Near Transportation Routes

      Premier property with modern amenities, flexible floor plans, and ample parking.
      3125 Garner Station Blvd, Raleigh, NC 27603
      View Details
    • $43 SF/Yr
      281,750 SF

      Raleigh Executive Office Space

      Class A Office Suites, Downtown Raleigh
      621 Hillsborough St, Raleigh, NC 27603
      View Details
    • $14 SF/Yr
      26,000 SF

      Spacious Warehouse with Office/Showroom

      Warehouse with office/showroom, drive-in doors, dock door, outside storage.
      140 Rupert Rd, Raleigh, NC 27603
      View Details
    • $19 SF/Yr
      6,000 SF

      Executive Suites, Raleigh, NC

      Prime Office Space Available Now
      723 Johnson St, Raleigh, NC 27603
      View Details
    • Contact for pricing
      10,024 SF

      Raleigh Executive Office Suites

      Prime Raleigh Office Space Available
      743 Johnson St, Raleigh, NC 27603
      View Details
    • $22 SF/Yr
      34,290 SF

      Downtown Raleigh Office Space

      Class A Office Suites, Flexible Sizes
      223 West St, Raleigh, NC 27603
      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.
    720 Jones St
    Raleigh, NC 27603-1427
    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

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.