Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    935 Airport Blvd Morrisville, NC 27560
    Back to Search
    Property profile & analytics

    935 Airport Blvd Morrisville, NC 27560

    View on Map
    • Land
    • 2.52 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 935 Airport Blvd

    Lot size
    2.52 lot acres
    Property type
    Land

    Description

    This exceptional 2.52-acre commercial land parcel, located at 935 Airport Blvd in Morrisville, NC 27560, presents a unique opportunity for hotel development. Situated just off I-40 (162,000 vehicles per day) and Airport Blvd (31,000 vehicles per day), this strategically positioned site enjoys high visibility and accessibility. Its proximity to Raleigh-Durham International Airport (3.2 miles, 14,000,000 passengers annually in 2023) makes it ideal for a hospitality venture. The property is zoned for Office and Institutional uses and designated as a Regional Activity Center by the Town of Morrisville Land Use Plan. Previously approved (though expired) for an 84-room, 4-story hotel, the site is well-suited for a development ranging from 80 to 114 keys. The site is unencumbered by existing franchise or management contracts, offering developers flexibility in brand selection, with numerous options available from major hotel chains such as Hilton, Wyndham, Choice, and Best Western. The Wake County APN is 0756272265. A site plan is available upon request. This presents a compelling investment opportunity in a high-growth market fueled by the region's thriving technology, healthcare, and research sectors. Note that a new special use permit application will be required. The usable acreage is approximately 1.76 acres.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Morrisville
    County
    Wake
    State
    North Carolina
    Longitude
    -78.8234
    Latitude
    35.8582

    Comparable in this City

    • Value Estimation by Request
      8,500 SF

      611 Church St

      Land • 8,500 SF
      611 Church St, Morrisville, NC 27560
      View Details
    • Value Estimation by Request
      2.45 Acres

      250 Kitty Hawk Dr

      Land • 2.45 Acres
      250 Kitty Hawk Dr, Morrisville, NC 27560
      View Details
    • Value Estimation by Request
      6.63 Acres

      109 Trans Air Dr

      Land • 6.63 Acres
      109 Trans Air Dr, Morrisville, NC 27560
      View Details
    • Value Estimation by Request
      7.54 Acres

      4110 Page Rd

      Land • 7.54 Acres
      4110 Page Rd, Morrisville, NC 27560
      View Details
    • Value Estimation by Request

      419 Airport Blvd

      Land
      419 Airport Blvd, Morrisville, NC 27560
      View Details
    • Value Estimation by Request

      Airtech Dr

      Land
      0 Airtech Dr, Morrisville, NC 27560
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1,867 SF

      Hopson Road Commercial Land Opportunity

      Approximately 0.692-acre site in the heart of RTP.
      4503 Hopson Rd, Morrisville, NC 27560
      View Details
    • Contact for pricing

      Entitlement-Ready Land in Morrisville, NC

      Land in high-growth area, approved for licensed daycare facility.
      611 Church St, Morrisville, NC 27560
      View Details
    • Contact for pricing
      Pending

      Morrisville Commercial Land Opportunity

      3.33 acres of commercial land in thriving Morrisville, NC.
      10416 Chapel Hill Rd, Morrisville, NC 27560
      View Details
    • $549,990
      Pending

      Morrisville Land: Build Your Dream

      0.66-acre lot in Morrisville, ready for your dream home.
      183 Green Dr, Morrisville, NC 27560
      View Details
    • $475,000
      0.67 Acres

      Wooded Lot in Morrisville, NC

      0.67 acre wooded lot with city utilities, no HOA.
      133 Green Dr, Morrisville, NC 27560
      View Details
    • Contact for pricing
      33,000 SF

      Retail and Office Development Land

      Two parcels totaling ±4.585 acres with approved site plan.
      5802 S Miami Blvd, Durham, NC 27560
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      52,000 SF

      Land for Lease or Build-to-Suit

      Land available for lease or build-to-suit opportunities.
      3770 Pleasant Grove Church Rd, Cary, NC 27560
      View Details
    • $30 SF/Yr
      35,350 SF

      703 Slater Road: Class A Office Space

      Morrisville, NC: Premier Office Building, 35,350 SF
      703 Slater Rd, Morrisville, NC 27560
      View Details
    • Contact for pricing

      Commercial Space for Lease

      Commercial space available for lease in Morrisville, North Carolina.
      9400 Globe Center Dr, Morrisville, NC 27560
      View Details
    • Contact for pricing
      7,165 SF

      Morrisville Office Space Available

      7,165 SF coworking and office space for rent.
      5150 Mccrimmon Pkwy, Morrisville, NC 27560
      View Details
    • $28 SF/Yr

      Class A Office Building

      Three-story Class A office building in corporate park setting.
      1500 Perimeter Park Dr, Morrisville, NC 27560
      View Details
    • Contact for pricing
      10,559 SF

      Perimeter Park Lab and Office

      Move-in ready lab and office space in Morrisville, NC.
      2450 Perimeter Park Dr, Morrisville, NC 27560
      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.
    935 Airport Blvd
    Morrisville, NC 27560
    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
    935 Airport Blvd, Morrisville, NC, 27560
    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!