Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    132 Rand Park Dr Garner, NC 27529
    Property profile & analytics

    132 Rand Park Dr, Garner, NC 27529

    View on Map
    • Office Spaces
    • 20,600 SF
    • 2.22 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Spray Foam Genie Raleigh / General Contractor / Renovation Specialist

    Property Details for 132 Rand Park Dr

    Year built
    1999
    Lot size
    2.22 lot acres
    Property type
    Office Spaces
    Property subtype
    Industrial properties

    Description

    This exceptional 2,500-square-foot flex space is situated at 132 Rand Park Drive, Garner, NC, offering immediate occupancy. Located in the Garner submarket of Wake County, this property boasts a convenient location with easy access to US Highway 70. The single-story building, constructed in 1999 and renovated in 2009, totals 20,600 square feet and sits on a 2.22-acre lot. The flex space itself features a 15-foot ceiling height, perfect for various uses. Access is provided by a single drive-in/roll-up door, eliminating the need for loading docks or dock-high doors. Ample parking is available on-site. The building is fully climate-controlled, ensuring a comfortable work environment year-round. The property is zoned HI and is ideal for a single tenant seeking a functional and well-maintained space. This is a rare opportunity to secure a well-located, readily available flex space in a thriving area. Don't miss out on this chance to establish your business in this desirable Garner location. Contact us today to schedule a showing.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Garner
    County
    Wake
    State
    North Carolina
    Longitude
    -78.6003
    Latitude
    35.7032

    Comparable in this City

    • Value Estimation by Request
      800 SF

      313-319 Us-70 Hwy

      Distribution properties
      313-319 Us-70 Hwy, Garner, NC 27529
      View Details
    • Value Estimation by Request
      24,000 SF

      6930 Carolina 42

      Restaurants
      6930 Carolina 42, Garner, NC 27529
      View Details
    • Value Estimation by Request
      42.63 Acres

      425 Technology Dr

      Flex space
      425 Technology Dr, Garner, NC 27529
      View Details
    • Value Estimation by Request
      59,400 SF

      500 Waterfield Ridge Pl

      Distribution properties
      500 Waterfield Ridge Pl, Garner, NC 27529
      View Details
    • Value Estimation by Request
      26,000 SF

      3201 Waterfield Dr

      Flex space
      3201 Waterfield Dr, Garner, NC 27529
      View Details
    • Value Estimation by Request
      8,000 SF

      982 Adams Point Dr

      Flex space
      982 Adams Point Dr, Garner, NC 27529
      View Details

    Similar Nearby for Sale

    • 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
    • Contact for pricing

      New Class A Flex Space

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

      Retail Site at NC HWY 42

      High visibility retail site in high growth Johnston County area.
      42 & Old Drugstore Rd, Garner, NC 27529
      View Details
    • Contact for pricing
      7,631 SF

      Prime Commercial Property in Garner

      1.67 acres in Garner's business district, ready for redevelopment.
      200 Vandora Springs Rd, Garner, NC 27529
      View Details
    • $1,900,000
      9,479 SF

      Office/Retail Condo in Prime Location

      Office/retail condo in a rapidly developing, highly visible area.
      141 Technology Dr, Garner, NC 27529
      View Details
    • Contact for pricing
      9,479 SF

      Office/Retail Condo in Developing Area

      Office/retail condo in rapidly developing area near I-40.
      141 Technology Dr, Garner, NC 27529
      View Details

    Similar Nearby for Lease

    • $15 SF/Yr

      Functional Flex Building in Garner

      Flex building with office, warehouse, and outside storage space.
      1455 Mechanical Blvd, Garner, NC 27529
      View Details
    • Contact for pricing

      New Flex/Warehouse Building

      New construction flex space with storefront office and dock-high loading for a flexible mix of warehousing and operations.
      105 Sigma Dr, Garner, NC 27529
      View Details
    • Contact for pricing

      High-Visibility Flexible Spaces Available

      Customizable warm shell spaces suitable for various businesses.
      982 Adams Point Dr, Garner, NC 27529
      View Details
    • Contact for pricing

      New Flex/Warehouse Facility

      New construction flex/warehouse with 24' clear height, ESFR sprinklers, and extensive dock and grade-level doors.
      500 Waterfield Ridge Pl, Garner, NC 27529
      View Details
    • Contact for pricing

      Flex/Warehouse Space for Lease

      Flex/warehouse space available for lease.
      500 Waterfield Ridge Pl, Garner, NC 27529
      View Details
    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.
    132 Rand Park Dr
    Garner, NC 27529
    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
    132 Rand Park Dr, 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!