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    Historic Corner Retail Building Title is generated by Realmo AI

    117 N Arendell Avenue, Zebulon, NC 27597

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    Claim this Listing
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    For Sale
    $1,600,000

    COMMERCIAL - Zebulon, NC

    Type:Retail
    Property size:
    15,828 SF
    Lot size:
    0.15 Acres
    Price / SF:
    $101/SF
    Added:
    Jun 2, 2026
    Days on Market:
    3
    Last Refresh:
    Jun 4 at 12:06 am

    Property Features for 117 N Arendell Avenue

    General Information

    Property type
    Commercial Sale
    Property subtype
    Retail
    Zoning
    DTC
    Rooms
    Basement
    Exterior features
    Awning(s)
    Fencing
    Chain Link
    Basement
    Concrete, Sump Pump, Unfinished, Block
    Accessibility
    Accessible Elevator Installed
    Standard status
    Active
    APN
    270514345763000 0017616
    Size
    15,828 SF
    Lot size
    0.15 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    Lots Arendell Ave
    Tax Annual Amount
    11601

    Utilities

    Utilities
    Cable Available
    Sewer type
    Public Sewer
    Heating system
    Electric (Heating), Central, Heat Pump (Heating)
    Cooling system
    Heat Pump, Central Air, Electric
    Water source
    Public

    Building Details

    Year built
    1910
    Floors in Building
    2
    Flooring type
    Hardwood, Concrete, Simulated wood
    Building materials
    Brick, Concrete, Glass, Slump Block
    Roof type
    Metal, Flat, Mixed

    We can help!

    Listing Contact
    Robert Terry
    Robert Terry

    Listing agent Robert Terry License #228169

    Listing office Insight Residential Realty LLC 713 N Arendell Ave., Raleigh, NC

    Listing date Jun 2, 2026

    MLS# 10171257

    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

    • 10,000 SF historic corner building in downtown Zebulon at N Arendell Ave frontage near a traffic light
    • Offered at $1,600,000 ($158/SF) with proforma NOI of $147,250 and an 8.42% stabilized cap rate
    • Eligible for Town of Zebulon facade grants
    • Brick, concrete, glass, and slump block construction with a mixed metal/flat roof
    • Accessible elevator installed; includes chain link fencing
    • Utilities include public water and public sewer; cable available with central heating and cooling (heat pump/electric)

    Overview

    This historic corner building was constructed in 1920 and presents a largely blank, adaptive-reuse style layout suited to significant interior reconfiguration. The property is marketed with a large footprint, and the current offering is positioned as a value-add redevelopment opportunity for concepts such as a food hall, microbrewery, coworking hub, or multi-tenant retail.

    Located in downtown Zebulon with street frontage on N Arendell Avenue, the building sits at a traffic light corner, designed to capture visibility from passersby and foot-traffic generators. The property is described as being within the Downtown Core (DTC) area, with the listing noting eligibility for Town of Zebulon facade grants.

    For buyers and investors, the combination of a historic exterior presence, flexible interior re-use potential, and downtown positioning supports a range of ownership and operating strategies, from converting the space into a destination use to structuring it as multiple retail or service tenants. The listing is also presented as suitable for redevelopment planning, including options that fit retail-driven uses where a strong street presence matters. Consider this property if you’re looking for a large-format downtown asset in a DTC context with redevelopment upside.
    Property Profile Location Intelligence

    Current Use by Public Records

    Storefront properties

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Zebulon
    County
    Wake
    State
    North Carolina
    Longitude
    -78.31333
    Latitude
    35.821791

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    FAQs

    What type of property is this?
    Storefront property - 1920 historic corner building offers a sizable adaptive-reuse canvas in a downtown core zoning district.
    Where is this storefront property located?
    The property is located at 117 N Arendell Avenue Zebulon, NC.
    What is the asking price?
    The asking price for this property is $1,600,000.
    What are key features of this property?
    This property features: 10,000 SF historic corner building in downtown Zebulon at N Arendell Ave frontage near a traffic light; Offered at $1,600,000 ($158/SF) with proforma NOI of $147,250 and an 8.42% stabilized cap rate; Eligible for Town of Zebulon facade grants
    (919) 810-3912
    We can help!
    Listing Contact
    Robert Terry
    Robert Terry
    Real Estate License ID: 228169
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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.

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    117 N Arendell Avenue, Zebulon, NC 27597
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