Add Listing
    For Sale
    • 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

    501 E Gannon Avenue Zebulon, NC 27597

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $460,000

    High-profile lot ideal for commercial development.

    Type:General Commercial
    Added:
    Feb 18, 2021
    Days on Market:
    1873
    Last Refresh:
    Apr 1 at 9:26 pm

    Property Features for 501 E Gannon Avenue

    General Information

    Standard status
    Active
    Property subtype
    General Commercial

    We can help!

    Listing Contact
    CHARLES Corbett

    Listing agent CHARLES Corbett

    Listing office Parrish Realty Company of Zebu

    Listing date Feb 18, 2021

    Source Xome

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Parrish Realty Company of Zebu

    Overview

    Commercial Lot For Sale

    This high-profile lot is situated in a location experiencing rapid change and increasing traffic volume, making it ideal for commercial development. The property is located along the main route to Wal-Mart, presenting numerous opportunities.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Zebulon
    County
    Wake
    State
    North Carolina
    Longitude
    -78.3241571
    Latitude
    35.8203935

    Nearby Similar for Sale

    • $250,000

      Commercial Land in Growing Zebulon

      Versatile 0.68-acre commercial land parcel in Zebulon, North Carolina.
      350 Pony Road, Zebulon, NC 27597
      View Details
    • $475,000

      Wooded Homesite in Zebulon

      Homesite ready for your dream home with no HOA!
      7616 Mitchell Mill Road, Zebulon, NC 27597
      View Details
    • $275,000

      Zebulon Homesite with Acreage

      7.41-acre residential homesite in Zebulon, Wake County, near Raleigh.
      3828 Standing Pine LAne, Zebulon, NC 27597
      View Details
    • $320,000

      Spacious Wooded Land in Zebulon

      10+ acre lot near Flowers Plantation, ideal for custom home.
      285 Old Eason Road lot: 4, Zebulon, NC 27597
      View Details
    • $299,900

      Zebulon Vacant Land Homesite

      7.9-acre homesite in Zebulon, horses allowed, no HOA.
      3829 Standing Pine Lane, Zebulon, NC 27597
      View Details
    • $389,000
      2,422 SF

      Zebulon Duplex Investment Property

      Duplex in Zebulon, walking distance to shopping and restaurants.
      117 E Glenn Street, Zebulon, NC 27597
      View Details
    • $320,000

      Spacious Wooded Land in Zebulon

      10+ acre residential land parcel near Flowers Plantation shopping.
      285 Old Eason Road, Zebulon, NC 27597
      View Details
    • $299,000

      Residential Land in Zebulon, NC

      4.72 acre lot perfect for building your dream home.
      6614 Ridge Spring Road, Zebulon, NC 27597
      View Details
    • $575,000
      2,339 SF

      Commercial Land in Zebulon, NC

      Prime corner lot zoned for heavy commercial use.
      1401 Shepard School Road, Zebulon, NC 27597
      View Details
    • $500,000

      Prime Downtown Zebulon Land

      0.53 acre site in Zebulon's commercial heart.
      405 N Arendell Avenue, Zebulon, NC 27597
      View Details
    • $650,000

      Unrestricted Land in Zebulon, NC

      25.03 acres of unrestricted land in the heart of Zebulon.
      8601 Riley Hill Road, Zebulon, NC 27597
      View Details
    • $285,000

      Land For Sale, Zebulon

      5.12 acre tract near Zebulon, no restrictions.
      01 Massey Road, Zebulon, NC 27597
      View Details

    FAQs

    What type of property is this?
    Commercial land - High-profile lot ideal for commercial development.
    Where is this commercial land located?
    The property is located at 501 E Gannon Avenue Zebulon, NC.
    What is the asking price?
    The asking price for this property is $460,000.
    What are key features of this property?
    This property features: High‑profile lot ideal for commercial development.; Located on the main road leading to Wal‑Mart.; Situated in a rapidly developing area with increasing traffic.
    (919) 269-7439
    We can help!
    Listing Contact
    CHARLES Corbett
    Learn More
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!