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    3708 Old Holly Springs Apex Rd Apex, NC 27539
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    3708 Old Holly Springs Apex Rd, Apex, NC 27539

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    • Lifestyle centers
    • 120,000 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • One Builder LLC / Construction Company / General Contractor

    Property Details for 3708 Old Holly Springs Apex Rd

    Property type
    Lifestyle centers
    Property subtype
    Power centers

    Description

    Carolina Springs Town Center presents a unique investment opportunity in the thriving Holly Springs, NC market. This 120,000 square foot retail development, situated on 21 acres within the larger 400-acre Carolina Springs mixed-use development, offers a completely vacant, 120,000 square foot space ready for immediate occupancy. The property is ideally located at 3708 Old Holly Springs Apex Rd, Apex, NC 27539, in Wake County, providing excellent visibility and accessibility. The development is designed for multiple tenants, allowing for flexibility and customization to suit various retail concepts. The expansive square footage presents a significant opportunity for a large-scale retailer or a collection of smaller businesses. Given its location within a larger mixed-use development, the property benefits from the synergy and increased foot traffic generated by residential and other commercial components. This is a rare chance to establish a prominent retail presence in a rapidly growing area of North Carolina. The property's size and location make it an exceptional investment for those seeking a high-impact retail space in a dynamic and expanding community. The entire 120,000 square feet is currently available, presenting a blank canvas for a visionary developer. This is a prime opportunity to shape the future of retail in this burgeoning area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Apex
    County
    Wake
    State
    North Carolina
    Longitude
    -78.8496
    Latitude
    35.6251

    Comparable in this City

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      $10,085,000
      7,142 SF

      8729 Holly Spgs Rd

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    • Value Estimation by Request
      504 SF

      2260 Williams St

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    • Value Estimation
      $2,255,000
      8,315 SF

      2112 Williams St

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    • Value Estimation
      $570,000
      3,312 SF

      2290 10th 10th Rd

      RETAIL STORES (PERSONAL SERVICES)
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    • Value Estimation
      $590,000
      3,570 SF

      9205 Eisenhower Dr

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      9205 Eisenhower Dr, Apex, NC 27539-7722
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    • Value Estimation
      $580,000
      2,600 SF

      2503 10th 10th Rd

      RETAIL STORES (PERSONAL SERVICES)
      2503 10th 10th Rd, Apex, NC 27539-8122
      View Details

    Similar Nearby for Sale

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      Apex Land Parcel For Sale

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    • $399,000
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    Similar Nearby for Lease

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      1,625 SF

      Retail Space in Mixed-Use Development

      Retail spaces available in Apex, NC, mixed-use development.
      Mcchesney Hl Loop, Apex, NC 27539
      View Details
    • Contact for pricing

      Carolina Springs Town Center Retail

      Retail spaces available within a 21-acre mixed-use development.
      3708 Old Holly Springs Apex Rd, Apex, NC 27539
      View Details
    • $15 SF/Yr
      12,400 SF

      Apex Warehouse and Industrial Space

      Warehouse and industrial spaces available in accessible Apex location.
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      222,121 SF

      Apex Warehouse Space Available

      222,121 SF warehouse with 32' ceilings, available July 2025.
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      208,000 SF

      Apex Warehouse Space Available Soon

      208,000 SF warehouse with ample loading and parking.
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    • Contact for pricing
      183,232 SF

      Apex Warehouse with Ample Loading

      Large warehouse in Apex, NC, available 3Q 2024.
      2170 Production Dr, Apex, NC 27539
      View Details
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    Apex, NC 27539
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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.

    More about this property
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    3708 Old Holly Springs Apex Rd, Apex, NC, 27539
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