Partially Renovated Apartment
For Sale
$775,000
613 Bellhaven St, Garner, NC 27529
Apartment property with renovated units and additional space ready for occupancy.
Property Size4,624 SF
Price / SF$167.60
Days on Market68
Property Features for 613 Bellhaven St
General Information
Standard status
Active
Size
4,624 SF
Property subtype
Multi-Family
Building Details
Year Built
1943
Listing Agency:
Real Triangle Properties LLC
Listed By:
Purvi Thakar
(919) 656-5843
Source:
Rubyhenderson
Added: Aug 10
Changed: Oct 3
Last Checked: Oct 7 at 4:17PM
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 Real Triangle Properties LLC
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This apartment building contains 4,624 square feet and was constructed in 1943. The property includes two fully renovated units, while three additional units are described as ready for occupancy. Two other units are leased on a month-to-month basis, providing existing occupancy alongside available space. The property is offered in as-is condition.
The building sits behind the Garner Performing Arts Center in Garner, North Carolina. It is approximately 3 miles from the Amazon warehouse, about 7 minutes from shopping and dining, and provides access to downtown Garner and Raleigh. The stated unit information includes multiple lettered and numbered residences within the building.
The building sits behind the Garner Performing Arts Center in Garner, North Carolina. It is approximately 3 miles from the Amazon warehouse, about 7 minutes from shopping and dining, and provides access to downtown Garner and Raleigh. The stated unit information includes multiple lettered and numbered residences within the building.
Key Highlights
- 4,624‑square‑foot apartment building constructed in 1943
- Two units are fully renovated
- Three units are ready for immediate occupancy
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$47,334
Cap Rate
6.11%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$946,680
$946.7K
Cap Rate 7%
$676,200
$676.2K
Cap Rate 9%
$525,933
$525.9K
Market Conditions
NOI Build-Up for 4,624 SF
Gross rent
$91.6K $19.80/SF
− Vacancy
−$5.5K −$1.19/SF
EGI
$86.1K $18.61/SF
− OpEx
−$38.7K −$8.38/SF
NOI
$47.3K $10.24/SF
Area
Wake County, NC
Vacancy
6.00%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$946,680
Cap Rate 7%
$676,200
Cap Rate 9%
$525,933
Alternative Uses
Best Use
Apartment 5plus
$676.2K
$591.7K – $788.9K
NOI $47,334 @ 7.0% cap · market cap 6.11%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.32M
$1.16M – $1.54M
NOI $92,419 @ 7.0% cap · market cap 11.93%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
535
Businesses Nearby
Explore this area
Business Placement
Demographics for 27529, NC
54,250
Population
22,089
Households
2.5
Avg Household Size
39
Median Age
41%
College-Educated
93%
High-School Grad
57.7 sq mi
ZIP Area
940
Density / Sq Mi
$86,426
Median Household Income
$47,686
Median Earnings
$1,379
Median Rent
$325,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Apartment property with renovated units and additional space ready for occupancy.
Where is this apartment building located?
The property is located at 613 Bellhaven St Garner, NC.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: 4,624‑square‑foot apartment building constructed in 1943; Two units are fully renovated; Three units are ready for immediate occupancy
