Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    115 Salem Towne Ct Apex, NC 27502-2311
    Property profile & analytics

    115 Salem Towne Ct, Apex, NC 27502-2311

    View on Map
    • Office buildings
    • 1,155 SF
    • 0.02 lot acres
    Off-Market
    Last Sale Jun 30, 2021
    $190,000
    Property ID
    US53-0142870
    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

    • Lori Aveni, CPA, PLLC / Accounting Firm

    Property Details for 115 Salem Towne Ct

    Year built
    2000
    Construction
    BRICK
    Lot size
    0.02 lot acres
    Zone code
    O&I-CU
    Property type
    Office buildings
    APN
    0742.14-43-7682 0254285
    APU
    742144376820254285

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Sep 19, 2023 — Slpm Properties LLC — Deed · related $195k · North State Bank
    Jun 30, 2021 $190,000 Slpm Properties LLC K & J Investment Properties Of Nc L Warranty Deed $240k · Live Oak Banking Company
    May 31, 2016 $319,000 K & J Investment Props Of Nc LLP Marino,michael Warranty Deed $276k · Branch Bk&tr
    May 24, 2013 — Michael Marino Mrmems LLC Warranty Deed · related $289k · First Citizens Bank & Trust Co
    Apr 16, 2004 $143,500 Mrmems LLC Earp,james W III Warranty Deed $143k · Central Carolina Bank & Trust
    Apr 11, 2003 — James W Earp III — Deed Of Trust · related —
    — — Michael Marino — Deed Of Trust · related $50k · Martin Eye Associates Od Pa
    — — Mrmems LLC — Deed Of Trust · related $309k · Suntrust Bank NA
    — — Mrmems LLC — Deed Of Trust · related $618k · Suntrust Bank NA

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Apex
    County
    Wake
    State
    North Carolina
    Longitude
    -78.8491
    Latitude
    35.7382
    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
    $2,141
    $30,000
    $165,152
    $195,152
    -
    $30,000
    $165,152
    $195,152

    Comparable in this City

    • Value Estimation by Request
      3,192 SF

      1500 Town Side Dr, Unit 3C

      OFFICE BUILDING
      1500 Town Side Dr, Apex, NC 27502-6604
      View Details
    • Value Estimation by Request
      3,344 SF

      315 Salem St Ste, Unit 100

      OFFICE BUILDING
      315 Salem St Ste, Apex, NC 27502-1848
      View Details
    • Value Estimation by Request
      1,080 SF

      501 Salem St Ste, Unit 101

      OFFICE BUILDING
      501 Salem St Ste, Apex, NC 27502-2315
      View Details
    • Value Estimation
      $520,000
      2,097 SF

      1500 Town Side Dr Ste, Unit 301

      OFFICE BUILDING
      1500 Town Side Dr Ste, Apex, NC 27502-6604
      View Details
    • Value Estimation by Request
      15,678 SF

      1460 Chapel Rdg Rd

      OFFICE BUILDING
      1460 Chapel Rdg Rd, Apex, NC 27502-8615
      View Details
    • Value Estimation by Request
      1,320 SF

      111 Salem Towne Ct

      OFFICE BUILDING
      111 Salem Towne Ct, Apex, NC 27502-2311
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      10,912 SF

      Apex Office Building For Sale

      Two-story office building with high visibility and versatile space.
      1701 Center St, Apex, NC 27502
      View Details
    • Contact for pricing

      Apex Mixed-Use Commercial Buildings

      Mixed-use commercial buildings for sale in desirable Apex location.
      1400-1480 Chapel Ridge Rd, Apex, NC 27502
      View Details
    • Contact for pricing
      1,016 SF

      Move-in Ready Office Condo

      Well-maintained office condo in prime, accessible Apex area.
      105 Salem Towne Ct, Apex, NC 27502
      View Details
    • $315,250
      Pending

      Apex Office Condo For Sale

      Townhome-style office condo near downtown Apex, suitable for professional services.
      130 Salem Towne Ct, Apex, NC 27502
      View Details
    • Contact for pricing
      1,477 SF

      Executive Suites Available For Sale

      Executive suites available for sale.
      800 W Williams St, Apex, NC 27502
      View Details
    • Contact for pricing

      Olive Chapel Professional Park

      Professional park property for sale in Apex, North Carolina.
      1400-1480 Chapel Ridge Rd, Apex, NC 27502
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Apex Office Suites for Rent

      Office suites available in a prime Apex location.
      800 W Williams St, Apex, NC 27502
      View Details
    • $15 SF/Yr

      Apex Flex Space Available

      Flex space in prime industrial area, immediate occupancy.
      1000 Investment Blvd, Apex, NC 27502
      View Details
    • Contact for pricing
      1,456 SF

      Apex Office Sublease Opportunity

      Office suite available for sublease in Apex, North Carolina.
      1480 Chapel Ridge Rd, Apex, NC 27502
      View Details
    • Contact for pricing

      Dominant Power Center Sublease Opportunity

      Retail sublease available in a high-traffic Apex shopping center.
      1035 Beaver Creek Commons Dr, Apex, NC 27502
      View Details
    • Contact for pricing
      2,375 SF

      Retail Space in Power Center

      Retail space available in a well-located power center.
      1571 Beaver Crk Cmns Dr, Apex, NC 27502
      View Details
    • $40 SF/Yr

      Prime Retail Space in Apex

      Retail space for lease in Apex, NC with high visibility.
      610 Chessie Sta, Apex, NC 27502
      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.
    115 Salem Towne Ct
    Apex, NC 27502-2311
    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
    115 Salem Towne Ct, Apex, NC, 27502
    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!