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    105 Commerce Pkwy Garner, NC 27529-7924
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    Property profile & analytics

    105 Commerce Pkwy, Garner, NC 27529-7924

    View on Map
    • Hotels
    • 35,438 SF
    • 1.98 lot acres
    Off-Market
    Last Sale Apr 22, 2022
    $400,000
    Property ID
    US53-1245528
    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
    $530,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Sleep Inn / Hotel & Motel
    • Hope & Deliverance Ministries - Garner NC / Association / Organization

    Property Details for 105 Commerce Pkwy

    Year built
    1999
    Lot size
    1.98 lot acres
    Zone code
    COM
    Property type
    Hotels
    Property subtype
    Motels
    APN
    06E02005J
    APU
    06E02005J

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Apr 22, 2022 — Ajay Hospitality INC Amrutlal N Parmar Warranty Deed $240k · Ks Bank INC
    Feb 11, 2020 $100,050 Department Of Transportation Salambo Properties LLC Grant Deed —
    Oct 23, 2017 — Amrutlal N Parmar — Deed · related $248k · Four Oaks Bk&tr
    Feb 8, 2017 — Amrutal Parmar — Deed · related $500k · Four Oaks Bk&tr
    Jan 5, 2007 $254,500 Amrutlal N Parmar Surti,madhusudan L & Hansa M Warranty Deed —
    Aug 19, 2004 $2,000,000 Amrutlal N Parmar 42 Choice LLC Warranty Deed $1.3M · Branch Banking & Trust Co
    — — Amrutal Parmar — Deed Of Trust · related $500k · Four Oaks Bk&tr
    — — Amrutlal N Parmar — Deed Of Trust · related $248k · Four Oaks Bk&tr

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $395,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $684,000
      Market price range: $674k - $1.27M

    • Alternative Use

      Use
      Estimation
      HOTEL/MOTEL
      $770,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Garner
    County
    Johnston
    State
    North Carolina
    Longitude
    -78.5649
    Latitude
    35.6045
    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
    2024
    $24,901
    $862,490
    $2,211,720
    $3,074,210
    -
    $862,490
    $2,211,720
    $3,074,210

    Comparable in this City

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      $1,030,000
      35,710 SF

      105 Leone Ct

      HOTEL/MOTEL
      105 Leone Ct, Garner, NC 27529-8475
      View Details
    • Value Estimation
      $3,240,000
      34,676 SF

      110 Drexmere St

      HOTEL/MOTEL
      110 Drexmere St, Garner, NC 27529-2531
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    • Value Estimation
      $780,000
      35,350 SF

      126 Cleveland Xing Dr

      HOTEL/MOTEL
      126 Cleveland Xing Dr, Garner, NC 27529-7790
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    • Value Estimation
      $2,245,000
      24,980 SF

      1602 Mechanical Blvd

      HOTEL/MOTEL
      1602 Mechanical Blvd, Garner, NC 27529-2535
      View Details
    • Value Estimation
      $1,130,000
      50,752 SF

      142 Cleveland Xing Dr

      HOTEL/MOTEL
      142 Cleveland Xing Dr, Garner, NC 27529-7790
      View Details
    • Value Estimation
      $5,920,000
      53,471 SF

      565 Us 70th E Hwy

      HOTEL/MOTEL
      565 Us 70th E Hwy, Garner, NC 27529-4046
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      8,323 SF

      Established Automotive Business For Sale

      Turn-key automotive business with versatile CMX zoning and high visibility.
      922 Us Highway 70, Garner, NC 27529
      View Details
    • Contact for pricing

      3.35 Acres Land Package

      Two adjacent lots totaling 3.35 acres for sale.
      10666 Cleveland Rd, Garner, NC 27529
      View Details
    • Contact for pricing

      Retail Site at Signalized Intersection

      High visibility retail site in high growth Johnston County area.
      42 & Old Drugstore Rd, Garner, NC 27529
      View Details
    • $48,000
      0.25 Acres

      Residential Land in Garner, NC

      Residential land available in an established Garner neighborhood.
      4521 Imperial St, Garner, NC 27529
      View Details
    • $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

      Community Shopping Center For Sale

      203,006 SF shopping center at a high-traffic intersection.
      12536 Capital Blvd, Wake Forest, NC 27529
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    Similar Nearby for Lease

    • Contact for pricing

      Garner Warehouse with Multiple Doors

      Warehouse space featuring both grade-level and dock-high loading doors.
      1400 Mechanical Blvd, Garner, NC 27529
      View Details
    • Contact for pricing
      57,411 SF

      Commercial Property for Lease

      Commercial property available for lease in Garner, North Carolina.
      3301 Jones Sausage Rd, Garner, NC 27529
      View Details
    • Contact for pricing

      Greenfield Business Park Flex Space

      Leasing flex/industrial space in Garner's Greenfield Business Park.
      3201 Waterfield Dr, 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 27529-7924
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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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