Add Listing
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

    802 Semart Dr Raleigh, NC 27604-8016

    • Retail space
    • 10,985 SF
    • 1.50 lot acres
    OFF-MARKET
    Value Estimations
    $2,515,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-2106096
    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

    • Peace China / Restaurant
    • Minh's Alteration Shop / (Bike/Boat/Book/etc) Store
    • Seaboard ACE Hardware / Building Supply / Hardware & Home Improvement
    • Renew Wellness / Physician
    • Renew Physiotherapy Raleigh - Seaboard Station / Physician

    Property Details for 802 Semart Dr

    Year built
    1952
    Construction
    CONCRETE BLOCKS
    Lot size
    1.50 lot acres
    Property size
    10,985 SF
    Zone code
    DX-7
    Property type
    Retail space
    APN
    1704.15-62-8864 0026496
    APU
    1704156288640026496

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $3,060,000
      6.5%
      $2,825,000
      7%
      $2,625,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $2,440,000
      Market price range: $856k - $2.44M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $2,485,000
      Current use
      COMMERCIAL (GENERAL)
      $3,565,000
      Change: +43% Conversion: Easy
      MEDICAL BUILDING
      $3,465,000
      Change: +39% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $3,240,000
      Change: +30% Conversion: Difficult
      WAREHOUSE, STORAGE
      $2,490,000
      Change: +0% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Raleigh
    County
    Wake
    State
    North Carolina
    Longitude
    -78.6396
    Latitude
    35.7906
    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
    $106,640
    $5,266,404
    $4,517,121
    $9,783,525
    -
    $5,266,404
    $4,517,121
    $9,783,525

    Comparable in this City

    • Value Estimation
      $14,375,000
      129,115 SF

      3001 Calvary Dr

      RETAIL STORES (PERSONAL SERVICES) • 129,115 SF
      3001 Calvary Dr, Raleigh, NC 27604-2801
      View Details
    • Value Estimation by Request
      1,128 SF

      4008 Capital Blvd Ste, Unit 108

      RETAIL STORES (PERSONAL SERVICES) • 1,128 SF
      4008 Capital Blvd Ste, Raleigh, NC 27604-3476
      View Details
    • Value Estimation by Request
      3,600 SF

      2808 Trawick Rd

      RETAIL STORES (PERSONAL SERVICES) • 3,600 SF
      2808 Trawick Rd, Raleigh, NC 27604-3757
      View Details
    • Value Estimation
      $13,175,000
      59,781 SF

      1101 Whitaker Ml Rd

      RETAIL STORES (PERSONAL SERVICES) • 59,781 SF
      1101 Whitaker Ml Rd, Raleigh, NC 27604-1588
      View Details
    • Value Estimation
      $2,710,000
      10,150 SF

      3601 Capital Blvd Ste, Unit 101

      RETAIL STORES (PERSONAL SERVICES) • 10,150 SF
      3601 Capital Blvd Ste, Raleigh, NC 27604-3397
      View Details
    • Value Estimation by Request
      936 SF

      3204 Capital Blvd

      RETAIL STORES (PERSONAL SERVICES) • 936 SF
      3204 Capital Blvd, Raleigh, NC 27604-3338
      View Details

    Similar Nearby for Sale

    • $949,900
      1.60 Acres

      Raleigh Commercial Land Opportunity

      1.6 acre commercial property with mixed-use zoning in Raleigh.
      3206 Old Buffaloe Rd, Raleigh, NC 27604
      View Details
    • $475,000
      0.11 Acres

      Residential Land in Historic Oakwood

      Land for sale in Raleigh's charming and sought-after Historic Oakwood.
      419 Watauga St, Raleigh, NC 27604
      View Details
    • Contact for pricing

      Expansive Wooded Lot in Raleigh

      2.85-acre wooded lot for custom home in Lewis Farm.
      1929 Amethyst Ridge Dr, Raleigh, NC 27604
      View Details
    • $2,900,000

      Standalone Flex Industrial Building For Sale

      Flex industrial building on 1.54 acres with fenced lot.
      3404 Lake Woodard Dr, Raleigh, NC 27604
      View Details
    • $244,900
      1.62 Acres

      Raleigh Land Parcel For Sale

      1.62 acre parcel in rapidly developing South Raleigh.
      3336 Holly Lake Trl, Raleigh, NC 27604
      View Details
    • $385,000
      0.21 Acres

      Ready-to-Build Lot Near Downtown

      Cleared 0.21-acre lot with utilities in Raleigh, NC.
      109 Plainview Ave, Raleigh, NC 27604
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Space For Rent

      Retail space available for lease in Raleigh, North Carolina.
      11 West Franklin St, Raleigh, NC 27604
      View Details
    • Contact for pricing
      27,000 SF

      Downtown Raleigh Mixed-Use Retail Space

      Urban retail space in a high-profile downtown mixed-use project.
      10 W Franklin St, Raleigh, NC 27604
      View Details
    • Contact for pricing
      211,436 SF

      Tarrytown Square Retail Center

      Raleigh Retail Space Available Now
      3901 Capital Blvd, Raleigh, NC 27604
      View Details
    • Contact for pricing

      Mixed-Use Space in Raleigh

      Retail and office spaces available in Raleigh, North Carolina.
      2201 Iron Works Dr, Raleigh, NC 27604
      View Details
    • Contact for pricing
      2,185 SF

      Premium ITB Retail Opportunity

      Retail space in Infinity Six Forks near Downtown Raleigh.
      900 East Six Forks Rd, Raleigh, NC 27604
      View Details
    • Contact for pricing

      Retail and Medical Office Spaces

      Retail and medical spaces in Raleigh, estimated delivery Q3 2025.
      5100 Forestville Rd, Raleigh, NC 27604
      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.
    802 Semart Dr
    Raleigh, NC 27604-8016
    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.
    Sign Up Successful!
    You now have access to more from Realmo!