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    Property profile & analytics

    951 Wendell Blvd Wendell, NC 27591

    • Manufacturing properties
    • 103,657 SF
    • 45.85 lot acres
    For Sale
    View listing
    $15,000,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-1328275
    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

    • Manufacturing properties

    Property Details for 951 Wendell Blvd

    Year built
    1978
    Lot size
    45.85 lot acres
    Property size
    103,657 SF
    Zone code
    MI
    Property type
    Manufacturing properties
    APN
    1774.01-38-9363 0056404
    APU
    1774013893630056404

    Description

    This exceptional 106,000-square-foot industrial property, located at 951 Wendell Blvd, Wendell, NC 27591, presents a unique investment opportunity. The single-story building, constructed in 1978, boasts a 15-foot ceiling height and is classified as Class C. Currently, 40,000 square feet of space is available for lease, ideal for manufacturing or research and development purposes. The property sits on 17 acres of land and is zoned MI, offering ample room for expansion or outdoor operations. The building features open workspaces and existing offices, providing flexibility for various business needs. The landlord is open to customizing the space to meet specific tenant requirements, including the installation of drive-in dock doors and additional bathrooms. Furthermore, the landlord is willing to subdivide the vacant space to accommodate smaller tenants seeking a more tailored solution. This property offers convenient access to Downtown Raleigh, situated approximately 20 minutes away, and provides ample parking for employees and visitors. This is a rare opportunity to secure substantial industrial space in a prime location within the Greater Raleigh area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $4,344,000
      Market price range: $2.44M - $7.14M

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

    Location Insight

    • Map
    • Local Demand
    City
    Wendell
    County
    Wake
    State
    North Carolina
    Longitude
    -78.4133
    Latitude
    35.8047
    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
    2024
    $119,017
    $1,283,517
    $10,142,216
    $11,425,733
    -
    $1,283,517
    $10,142,216
    $11,425,733

    Comparable in this City

    • Value Estimation
      $1,700,000
      28,765 SF

      430 Industrial Dr

      MANUFACTURING (LIGHT) • 28,765 SF
      430 Industrial Dr, Wendell, NC 27591-7714
      View Details
    • Value Estimation
      $1,200,000
      9,600 SF

      7212 Siemens Rd

      MANUFACTURING (LIGHT) • 9,600 SF
      7212 Siemens Rd, Wendell, NC 27591-8313
      View Details
    • Value Estimation
      $4,640,000
      59,393 SF

      9 Hollybrook Rd

      HEAVY MANUFACTURING • 59,393 SF
      9 Hollybrook Rd, Wendell, NC 27591
      View Details
    • Value Estimation by Request
      3,200 SF

      2920 Nc 97th Hwy

      MANUFACTURING (LIGHT) • 3,200 SF
      2920 Nc 97th Hwy, Wendell, NC 27591
      View Details
    • Value Estimation
      $2,125,000
      34,500 SF

      375 3rd St

      MANUFACTURING (LIGHT) • 34,500 SF
      375 3rd St, Wendell, NC 27591-9708
      View Details
    • Value Estimation
      $13,320,000
      203,148 SF

      7000 Siemens Rd

      HEAVY MANUFACTURING • 203,148 SF
      7000 Siemens Rd, Wendell, NC 27591-8309
      View Details

    Similar Nearby for Sale

    • $15,000,000
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      Wendell Industrial Building For Sale

      106,000 SF industrial building in the heart of the Triangle.
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      View Details
    • Contact for pricing
      21,200 SF

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      82,000 SF

      Class A Flex Buildings

      Two Class A flex buildings totaling 82,000 SF for lease.
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    • $695,000
      2.90 Acres

      Wendell Commercial Land - $695K

      2.9-acre commercial lot, prime Wendell location.
      2451 Wendell Blvd, Wendell, NC 27591
      View Details
    • $200,000
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      Wendell, NC Land For Sale

      8.65 acre land parcel in Wendell, North Carolina.
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    • $1,750,000
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      Wendell Land Parcel with Income

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    Similar Nearby for Lease

    • $624,360
      106,000 SF

      Wendell NC Commercial Space Available

      60,000+ SF manufacturing/R&D space for lease near Raleigh.
      951 Wendell Blvd, Wendell, NC 27591
      View Details
    • $10 SF/Yr
      106,000 SF

      Wendell Industrial Space Available

      106,000 SF Manufacturing/R&D Space in NC
      951 Wendell Blvd, Wendell, NC 27591
      View Details
    • Contact for pricing
      82,000 SF

      Wendell, NC Industrial Flex Space

      Class A flex/warehouse space available. Multiple units, high power.
      716 Old Battle Bridge Rd, Wendell, NC 27591
      View Details
    • Contact for pricing
      38,800 SF

      Retail Center at Wendell Falls

      Retail spaces available in Lowes Foods anchored shopping center.
      1236 Wendell Fls Pkwy, Wendell, NC 27591
      View Details
    • Contact for pricing

      Wendell, NC Commercial Land Opportunity

      1.63 Acres, Prime Commercial Location
      0 Wendell Fls Pkwy & Taylor Rd, Wendell, NC 27591
      View Details
    • Contact for pricing
      13 SF

      Retail Outparcels in Mixed-Use Community

      Retail outparcels for sale or lease in Wendell, NC.
      Wendell Blvd, Wendell, NC 27591
      View Details
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    Wendell, NC 27591
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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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