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    101 W Vance St Zebulon, NC 27597
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    101 W Vance St Zebulon, NC 27597

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    • Retail space
    • 20,400 SF
    • 0.29 lot acres
    For Sale
    $5,299,000
    View Listing →
    Redevelopment Opportunity in Growing Town For Sale
    $5,299,000

    Redevelopment Opportunity in Growing Town

    Redevelopment opportunity with multiple buildings in a fast-growing town.

    101 W VanCe Street, Zebulon, NC 27597
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    Property ID
    US53-1074632
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Whitley Furniture / Department Store

    Property Details for 101 W Vance St

    Year built
    1919
    Construction
    BRICK
    Lot size
    0.29 lot acres
    Property size
    20,400 SF
    Zone code
    DTC
    Property type
    Retail space
    APN
    2705.14-34-7420 0021008
    APU
    2705143474200021008

    Description

    This exceptional 1.58-acre property located at 101 W Vance Street in Zebulon, North Carolina, presents a compelling redevelopment opportunity. Situated in one of North Carolina's fastest-growing towns, this site offers significant potential for investors and developers seeking a mixed-use project. The property comprises multiple existing buildings, providing a cost-effective foundation for adaptive reuse or redevelopment. This allows for a flexible approach to project planning, potentially minimizing demolition costs and expediting the development timeline. The substantial lot size offers ample space for expansion or the addition of new structures, catering to a variety of commercial uses. The strategic location within Zebulon ensures high visibility and accessibility, making it an attractive proposition for businesses seeking a thriving market. The asking price for this prime redevelopment opportunity is $5,299,000. Detailed site plans and building specifications are available upon request. This is an exceptional chance to capitalize on the robust growth trajectory of Zebulon and create a significant commercial asset. Serious inquiries only.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,630,000
      Market price range: $3.63M - $10.6M

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

    Location Insight

    • Map
    • Local Demand
    City
    Zebulon
    County
    Wake
    State
    North Carolina
    Longitude
    -78.3127
    Latitude
    35.8209
    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
    $15,878
    $48,002
    $858,613
    $906,615
    -
    $48,002
    $858,613
    $906,615

    Comparable in this City

    • Value Estimation by Request
      2,160 SF

      109 Horton St

      RETAIL STORES (PERSONAL SERVICES) • 2,160 SF
      109 Horton St, Zebulon, NC 27597-2819
      View Details
    • Value Estimation
      $3,930,000
      15,674 SF

      1501 Nc 39th Hwy

      RETAIL STORES (PERSONAL SERVICES) • 15,674 SF
      1501 Nc 39th Hwy, Zebulon, NC 27597-6987
      View Details
    • Value Estimation by Request
      3,200 SF

      836 Pne Rdg Rd

      RETAIL STORES (PERSONAL SERVICES) • 3,200 SF
      836 Pne Rdg Rd, Zebulon, NC 27597-6105
      View Details
    • Value Estimation by Request
      6,110 SF

      202 Arendell Ave

      RETAIL STORES (PERSONAL SERVICES) • 6,110 SF
      202 Arendell Ave, Zebulon, NC 27597-2604
      View Details
    • Value Estimation
      $575,000
      3,400 SF

      225 Arendell Ave

      RETAIL STORES (PERSONAL SERVICES) • 3,400 SF
      225 Arendell Ave, Zebulon, NC 27597-2603
      View Details
    • Value Estimation
      $960,000
      5,828 SF

      117 Arendell Ave

      RETAIL STORES (PERSONAL SERVICES) • 5,828 SF
      117 Arendell Ave, Zebulon, NC 27597-2601
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Ready Land Development

      Prime commercial land for retail development in Zebulon, NC.
      709 E Gannon Ave, Zebulon, NC 27597
      View Details
    • $1,800 /Mo
      1,263 SF

      Downtown Zebulon Office Suite

      Second-floor office suite in historic downtown Zebulon.
      104 E Horton St, Zebulon, NC 27597
      View Details
    View Listing
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    Zebulon, NC 27597
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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.

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