7601 Glenwood AveRaleigh, NC 27612

Property Details for 7601 Glenwood Ave

Year built

1997

Construction

METAL FRAME

Lot size

8.52 AC

Property size (Sq ft)

18,476 SF

Zone code

CX-3

Property type

Retail properties

Property subtype

Other automotive properties

APN

0787.17-21-2125 0232339

APU

787172121250232339

Description

This exceptional 8.52-acre property, located at 7601 Glenwood Ave in Raleigh, NC, presents a unique redevelopment opportunity. Situated on a corner lot with a median break, it boasts high visibility and accessibility, benefiting from its location halfway between I-440 and I-540 within Raleigh's Western Wake automotive row. The site includes two existing buildings totaling 20,156 square feet: an 18,200 square-foot showroom/service center and a drive-thru car wash and detail shop. Built in 1998 and renovated in 2007, the property features a Class B designation, 18-foot ceilings, and ample parking for approximately 531 vehicles, strategically designed for inventory, customers, and service operations. The property's CX-3-PK zoning allows for diverse development options. Its proximity to downtown Raleigh (15 minutes), Raleigh-Durham International Airport (15 minutes), and downtown Durham (20 minutes) further enhances its appeal. The location benefits from Wake County's strong demographics and North Carolina's robust population growth. This is a prime opportunity to capitalize on a thriving market and a highly visible location. The property offers significant potential for various uses, including hospitality, mixed-use, multifamily, retail, and self-storage, making it an attractive investment for developers seeking a high-impact project in a rapidly growing area.

• CAP approach

  CAP return

  Valuation

  6%

  $6,659,716

  6.5%

  $6,147,430

  7%

  $5,708,328

• Comparable approach

  Method

  Valuation

  Relative Method

  $10,390,226

  Geo Method

  $10,687,272

• Alternative Use

  Use

  Valuation

  Residential

  $5,185,587

  Hospitality

  $4,749,970

  Educational

  $3,951,919

  Medical

  $4,087,832

  Retail

  $6,147,430

Location Insight

City

Raleigh

County

Wake

State

North Carolina

Latitude

35.8685

Longitude

-78.7225

CBSA code

39580

CBSA name

RALEIGH-CARY, NC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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