Corner Retail Building with Adaptive
117 N Arendell Avenue Zebulon, NC 27597
117 N Arendell Avenue, Zebulon, NC, 27597
$1,600,000
For Sale
$1,600,000
COMMERCIAL - Zebulon, NC
Property Size15,828 SF
Lot Size0.15 Acres
Price / SF$101.09
Days on Market49
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
- Unfinished, Concrete, Sump Pump, 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
- Central, Electric (Heating), Heat Pump (Heating)
- Cooling system
- Central Air, Heat Pump, Electric
- Water source
- Public
Building Details
- Year built
- 1910
- Floors in Building
- 2
- Flooring type
- Simulated wood, Hardwood, Concrete
- Building materials
- Brick, Concrete, Glass, Slump Block
- Roof type
- Metal, Flat, Mixed
Listing Agency
Insight Residential Realty LLC
(919) 375-4532
713 N Arendell Ave., Raleigh, NC
Listed by
Robert Terry · License #228169
(919) 810-3912
Added: Jun 2 Checked: Jul 20 at 10:06 am
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.
Investment Insights
Based on property information with market context.
This historic corner building, built in 1920, offers a blank-slate footprint suited to adaptive reuse. The property is presented as a large-format, “architectural” shell that can accommodate a variety of concepts, including multi-tenant retail, a food hall, a microbrewery, or a coworking hub, depending on plan and permitting.
Located in the Downtown Core (DTC) zoning district, the building sits on prominent frontage along N Arendell Avenue at a traffic light in downtown Zebulon. The site is positioned at a corner and is described as a downtown presence with investor and developer focus.
The listing notes eligibility for Town of Zebulon facade grants. Interested parties should request additional materials to review layout and underwriting details.
Located in the Downtown Core (DTC) zoning district, the building sits on prominent frontage along N Arendell Avenue at a traffic light in downtown Zebulon. The site is positioned at a corner and is described as a downtown presence with investor and developer focus.
The listing notes eligibility for Town of Zebulon facade grants. Interested parties should request additional materials to review layout and underwriting details.
Key Highlights
- Large corner building in downtown Zebulon at a traffic light with a 10,000 SF historic footprint (117/123 N Arendell Ave)
- Pricing: $1,600,000 ($158/SF) with a proforma NOI of $147,250 and an 8.42% stabilized cap rate
- Accessible Elevator Installed and chain link fencing
Local Financial Insights For Industrial
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 | $155.7k | $9.84 |
| − Vacancy | −$11.0k | −$0.70 |
| EGI | $144.7k | $9.14 |
| − OpEx | −$43.4k | −$2.74 |
| NOI | $101.3k | $6.40 |
15,828 SF · lease $9.84/SF/yr · vacancy 7.08% · expense 30.00%
Alternative Uses
Best Use
Retail
$4.01M
$3.51M – $4.68M
NOI $280,841 @ 7.0% cap · market cap 17.55%
Second Best
Office B
$3.47M
$3.04M – $4.05M
NOI $242,966 @ 7.0% cap · market cap 15.19%
Theoretical Best
Specialty Retail
$4.52M
$3.95M – $5.27M
NOI $316,350 @ 7.0% cap · market cap 19.77%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Retail space
FAQs
What type of property is this?
Retail space - Historic corner building built in 1920 with Downtown Core zoning and prominent frontage at a traffic light.
Where is this retail space 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: Large corner building in downtown Zebulon at a traffic light with a 10,000 SF historic footprint (117/123 N Arendell Ave); Pricing: $1,600,000 ($158/SF) with a proforma NOI of $147,250 and an 8.42% stabilized cap rate; Accessible Elevator Installed and chain link fencing
