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    100 Blue Spruce Ln Garner, NC 27529-6414

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    100 Blue Spruce Ln Garner, NC 27529-6414

    View on Map
    • Garden apartment buildings
    • 25,200 SF
    • 19.08 lot acres
    Off-Market
    Last Sale Mar 10, 2021
    $3,073,000
    Property ID
    US53-0945694
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $3,520,000
    Show details
    Cap Rate Potential
    6.5%
    Garden apartment buildings
    Location Intelligence

    Current Use by Public Records

    • Garden apartment buildings

    Property Details for 100 Blue Spruce Ln

    Year built
    2023
    Construction
    FRAME
    Lot size
    19.08 lot acres
    Property size
    25,200 SF
    Zone code
    MF-A
    Property type
    Garden apartment buildings
    APN
    1720.15-52-5941 0030537
    APU
    1720155259410030537

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $3,980,000
      ML approach
      $3,500,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $4,300,000
      6.5%
      $3,970,000
      7%
      $3,685,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $2,138,000
      Market price range: $831k - $2.14M

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Garner
    County
    Wake
    State
    North Carolina
    Longitude
    -78.5772
    Latitude
    35.6807
    CBSA code
    39580
    CBSA name
    RALEIGH-CARY, NC METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $3,840
    $4,032,000
    $35,243,721
    $39,275,721
    -
    $4,032,000
    $35,243,721
    $39,275,721

    Comparable in this City

    • Value Estimation
      $1,310,000
      16,524 SF

      1812 Spg Dr

      GARDEN APT, COURT APT (5+ UNITS) • 16,524 SF
      1812 Spg Dr, Garner, NC 27529-3489
      View Details
    • Value Estimation
      $550,000
      7,312 SF

      207 Westcroft Dr

      GARDEN APT, COURT APT (5+ UNITS) • 7,312 SF
      207 Westcroft Dr, Garner, NC 27529-5311
      View Details
    • Value Estimation
      $39,960,000
      24,480 SF

      1200 Deer Hbr Dr

      GARDEN APT, COURT APT (5+ UNITS) • 24,480 SF
      1200 Deer Hbr Dr, Garner, NC 27529-5987
      View Details
    • Value Estimation
      $1,750,000
      22,122 SF

      1600 Evolve Dr

      GARDEN APT, COURT APT (5+ UNITS) • 22,122 SF
      1600 Evolve Dr, Garner, NC 27529-3572
      View Details
    • Value Estimation
      $600,000
      5,596 SF

      905 7th Ave, Unit 34

      GARDEN APT, COURT APT (5+ UNITS) • 5,596 SF
      905 7th Ave, Garner, NC 27529-3654
      View Details
    • Value Estimation by Request
      18,240 SF

      300 Abberly Crst Blvd

      GARDEN APT, COURT APT (5+ UNITS) • 18,240 SF
      300 Abberly Crst Blvd, Garner, NC 27529-6993
      View Details

    Similar Nearby for Sale

    • $800,000
      4,624 SF

      Garner Multifamily Investment Opportunity

      Five-unit property with income potential in a growing area.
      613 Bellhaven St, 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
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    • $379,720
      Pending

      Downtown Garner Custom Built Townhome

      Custom townhome in downtown Garner, close to shopping and dining.
      109 Pearl St, Garner, NC 27529
      View Details
    • $99,999
      1.00 Acre

      Residential Parcel in Growing Area

      Build-ready 0.98-acre residential parcel in Garner, Wake County, NC.
      00-00 Creech Rd, Garner, NC 27529
      View Details
    • 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
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    Similar Nearby for Lease

    • Contact for pricing

      Land Available For Lease

      Land available for lease in Garner, North Carolina.
      70 W Garner Rd, Garner, NC 27529
      View Details
    • $16,800 /Mo

      Landmark Building Office and Event

      Well-maintained office building with suites and event space available.
      12450 Cleveland Rd, Garner, NC 27529
      View Details
    • Contact for pricing
      9,600 SF

      Retail Space in Growing Area

      Retail space available in a rapidly growing area.
      201-267 Timber Dr, Garner, NC 27529
      View Details
    • Contact for pricing

      Retail Space in Garner, NC

      Retail space available in Garner, NC with high traffic.
      Jones Sausage Rd & Integrity Dr, Garner, NC 27529
      View Details
    • $14 SF/Yr
      3,900 SF

      Retail Space on Highway 70

      Retail space with highway access and ample parking.
      1575 W Us 70 Hwy W, Garner, NC 27529
      View Details
    • $18 SF/Yr
      27,500 SF

      Garner, NC Warehouse Space

      Flexible Warehouse Space Available
      1400 Mechanical Blvd, Garner, NC 27529
      View Details
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    Garner, NC 27529-6414
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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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    100 Blue Spruce Ln, Garner, NC, 27529

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