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

    7330 Old Wake Forest Rd Raleigh, NC 27616

    • Retail properties
    • 143,824 SF
    • 12.30 lot acres
    For Lease
    View listing
    Last Sale
    Sep 23, 2021
    $5,850,000
    Value Estimations
    $7,110,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-0685622
    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

    • Sears Appliance Repair / Refrigerator Repair Service / Washer & Dryer Repair Service
    • Walsh Eileen M OD / Optometrist
    • Kassan Naheed OD / Optometrist
    • More For Less Restaurant Equipment Outlet / Restaurant Supply Store
    • Melissa McBrien, O.D. / Optometrist / Eye Care Center

    Property Details for 7330 Old Wake Forest Rd

    Year built
    2001
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    12.30 lot acres
    Property size
    143,824 SF
    Zone code
    CX-3
    Property type
    Retail properties
    APN
    1727.19-51-0036 0280478
    APU
    1727195100360280478

    Description

    This exceptional single-tenant retail property, located at 7330 Old Wake Forest Rd in Raleigh, NC (zip code 27616), presents a significant opportunity for a discerning business. The property boasts a substantial 154,004 square feet of vacant space, ready for immediate occupancy. Situated on a generous 12.3-acre lot in Wake County, this location offers unparalleled visibility and accessibility. The building's expansive footprint provides ample room for a wide range of retail operations, allowing for creative design and efficient layout. The property's single-tenant configuration offers streamlined management and control, eliminating the complexities of multi-tenant operations. Its prime location in Raleigh, North Carolina, ensures high traffic volume and exposure to a large consumer base. This is an ideal opportunity for a business seeking a large, high-profile space to establish or expand its operations. The property is currently available for lease and offers a blank canvas for a business to create a truly impactful retail presence. The property's size and location make it a rare find in the competitive Raleigh market. Serious inquiries are encouraged to explore this exceptional retail opportunity. The property is classified as commercial retail and is ready for immediate development. This is a single-tenant property, offering a unique opportunity for a business to establish a significant presence in the Raleigh area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $7,250,000
      ML approach
      $7,575,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $9,035,000
      Market price range: $9.04M - $34.0M

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

    Location Insight

    • Map
    • Local Demand
    City
    Raleigh
    County
    Wake
    State
    North Carolina
    Longitude
    -78.5779
    Latitude
    35.8679
    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
    $94,414
    $6,958,279
    $1,703,535
    $8,661,814
    -
    $6,958,279
    $1,703,535
    $8,661,814

    Comparable in this City

    • Value Estimation
      $24,110,000
      178,616 SF

      7500 Old Wake Frst Rd

      DEPARTMENT STORE • 178,616 SF
      7500 Old Wake Frst Rd, Raleigh, NC 27616-3224
      View Details
    • Value Estimation by Request
      9,996 SF

      8101 Target Side Dr

      Day care centers • 9,996 SF
      8101 Target Side Dr, Raleigh, NC 27616
      View Details
    • Value Estimation
      $24,900,000
      184,416 SF

      3801 Sumner Blvd

      DEPARTMENT STORE • 184,416 SF
      3801 Sumner Blvd, Raleigh, NC 27616-2994
      View Details
    • Value Estimation by Request
      2.82 Acres

      Buffaloe Rd & Forestville Rd

      Land • 122,839 SF
      0 Buffaloe Rd & Forestville Rd, Raleigh, NC 27616
      View Details
    • Value Estimation
      $11,360,000
      82,775 SF

      7700 Old Wake Frst Rd

      DEPARTMENT STORE • 82,775 SF
      7700 Old Wake Frst Rd, Raleigh, NC 27616-3228
      View Details
    • Value Estimation by Request
      3,462 SF

      Rib Shack Franchise For Sale

      Restaurants • 3,462 SF
      0 Rib Shack Franchise For Sale, Raleigh, NC 27616
      View Details

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      Raleigh Retail Outparcel Opportunity

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      Capital Blvd Retail Opportunity

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      Retail Space in Raleigh Mall

      154,004 SF retail space available in Raleigh, NC.
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      Raleigh Retail Outparcels For Rent

      Retail outparcels available in high-growth Raleigh location.
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      Triangle Town Center Retail Spaces

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      Triangle Town Center Retail Space

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      View Details
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    Raleigh, NC 27616
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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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