Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Garner Multifamily Investment Opportunity Title is generated by Realmo AI

    613 Bellhaven Street, Garner, NC 27529

    View on Map
    Claim this Listing
    For Sale
    $800,000

    MULTI_FAMILY - Garner, NC

    Property size:
    4,624 SF
    Lot size:
    0.55 Acres
    Price / SF:
    $173/SF
    Added:
    Mar 5, 2026
    Days on Market:
    92
    Last Refresh:
    Jun 5 at 10:06 pm

    Property Features for 613 Bellhaven Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    MF-A
    Bedrooms
    10
    Bathrooms
    5
    Rooms
    Bathroom 3, Bathroom 1, Bedroom 9, Bedroom 7, Bathroom 4, Bedroom 8, Bedroom 4, Bedroom 1, Bedroom 6, Bathroom 2, Bedroom 10, Bathroom 5, Bedroom 5, Bedroom 3, Bedroom 2
    Parking features
    Parking Lot
    Standard status
    Active
    APN
    171115547419000 0138466
    Size
    4,624 SF
    Lot size
    0.55 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    Lo1 Prop W A Weston Bm1984-1942
    Tax Annual Amount
    4130

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Forced Air
    Water source
    Public

    Building Details

    Year built
    1943
    Floors in Building
    1
    Number of units
    5
    Flooring type
    Carpet, Tile
    Building materials
    Vinyl Siding
    Roof type
    Flat

    We can help!

    Listing Contact
    Purvi Thakar

    Listing agent Purvi Thakar

    Listing office Real Triangle Properties LLC 7231 Carpenter Fire Station Rd, Cary, NC

    Listing date Mar 5, 2026

    MLS# 10150499

    Copyright © 2026 Doorify MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Income‑producing 5‑unit multifamily property with strong rental potential.
    • Excellent location near Garner Performing Arts Center and Amazon warehouse (3 miles).
    • Potential to generate $6,000+ in monthly rental income when fully leased at market rates.
    • Two units are fully renovated.
    • Two units currently rented at $1,150 per month.
    • Convenient access to downtown Garner and Raleigh.

    Overview

    This five-unit multifamily property in Garner presents an investment opportunity. Located behind the Garner Performing Arts Center, the property includes units at 615 A & B, 609 A & B, 617, and 613. Two units are currently rented at $1,150 per month on a month-to-month basis, while three units are ready for immediate occupancy. Two of the units have been fully renovated. The property is situated approximately 3 miles from the Amazon warehouse in Garner and 7 minutes from major shopping and dining areas, with convenient access to downtown Garner and Raleigh. The property, zoned MF-A, sits on a 0.55-acre lot. The property has the potential to generate approximately $6,000+ in monthly rental income. The property is sold as is.

    Local Financial Insights For Apartment 5plus

    Simulate Cap Rate and NOI

    NOI Build-Up
    Vacancy
    income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
    EGI (Effective Gross Income)
    gross rent minus vacancy losses — the realistic income before paying operating costs.
    OpEx (Operating Expenses)
    recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
    NOI (Net Operating Income)
    income a property generates after operating costs but before financing and taxes.

    Component $ $/SF
    Gross rent $91.6k $19.80
    − Vacancy −$5.5k −$1.19
    EGI $86.1k $18.61
    − OpEx −$38.7k −$8.38
    NOI $47.3k $10.24
    4,624 SF · lease $19.80/SF/yr · vacancy 6.00% · expense 45.00%

    Alternative Uses

    Best Use
    Apartment 5plus
    $676.2K
    $591.7K – $788.9K (±1% cap)
    NOI $47,334 @ 7.0% cap · market cap 5.92%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Specialty Retail
    $1.32M
    $1.16M – $1.54M (±1% cap)
    NOI $92,419 @ 7.0% cap · market cap 11.55%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Law Firm Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Garner
    County
    Wake
    State
    North Carolina
    Longitude
    -78.610186
    Latitude
    35.71254

    Nearby Similar for Sale

    • $1,900,000
      9,479 SF

      Office/Retail Condo in Prime Location

      Office/retail condo in a rapidly developing, highly visible area.
      141 Technology Drive, Garner, NC 27529
      View Details
    • $1,200,000
      5,868 SF

      Commercial Building in Developing Area

      Commercial building in a rapidly developing area, visible from I-40.
      143 Technology Drive, Garner, NC 27529
      View Details
    • $419,900
      2,388 SF

      Corner Lot Duplex with Central Air

      Fully rented duplex on a fenced corner lot with central air, in-unit kitchen appliances, and tenant-paid utilities.
      100 Madrid Court, Garner, NC 27529
      View Details
    • $379,720
      1,693 SF

      Downtown Garner Custom Built Townhome

      Custom townhome in downtown Garner, close to shopping and dining.
      109 Pearl Street 1, Garner, NC 27529
      View Details
    • $2,200,000
      8,323 SF

      Established Automotive Business For Sale

      Turn-key automotive business with versatile CMX zoning and high visibility.
      922 US-70, Garner, NC 27529
      View Details
    • Contact for pricing
      26,000 SF

      New Class A Flex Space

      26,000 SF Class A Flex space in Greenfield Business Park.
      3201 Waterfield Drive, Garner, NC 27529
      View Details
    • Contact for pricing
      12,500 SF

      Flex Space with Conditioned Warehouse

      Flex space featuring office and conditioned warehouse areas.
      5305 Raynor Rd, Garner, NC 27529
      View Details
    • $1,900,000
      9,479 SF

      Office/Retail Condo in Developing Area

      Office/retail condo in rapidly developing area near I-40.
      141 Technology, Garner, NC 27529
      View Details
    • $1,200,000
      5,868 SF

      Commercial Building in Developing Area

      Commercial building in a rapidly developing area available for purchase.
      143 Technology, Garner, NC 27529
      View Details
    • Contact for pricing
      236,600 SF

      Industrial Warehouse with Easy US 70 Access

      Large warehouse space offering straightforward connectivity via US 70 near major and future interstate intersections.
      4520 Guy Road, Garner, NC 27529
      View Details
    • Contact for pricing
      236,600 SF

      New Industrial Warehouse in Garner

      236,600 SF warehouse with Q1 2026 delivery date.
      4520 Guy Road, Garner, NC 27529
      View Details
    • Contact for pricing
      57,863 SF

      Garner Plaza Retail Center Offering

      Fully leased retail center in growing Raleigh MSA.
      505-537 Plaza Circle, Garner, NC 27529
      View Details

    FAQs

    What type of property is this?
    Apartment building - Five-unit property with income potential in a growing area.
    Where is this apartment building located?
    The property is located at 613 Bellhaven Street Garner, NC.
    What is the asking price?
    The asking price for this property is $800,000.
    What are key features of this property?
    This property features: Income‑producing 5‑unit multifamily property with strong rental potential.; Excellent location near Garner Performing Arts Center and Amazon warehouse (3 miles).; Potential to generate $6,000+ in monthly rental income when fully leased at market rates.
    (919) 656-5843
    We can help!
    Listing Contact
    Purvi Thakar
    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.
    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

    Thank You for Inquiry
    613 Bellhaven Street, Garner, NC 27529
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!