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    117 Vance St Zebulon, NC 27597
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    Property profile & analytics

    117 Vance St Zebulon, NC 27597

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    • Warehouses
    • 6,650 SF
    • 0.14 lot acres
    For Sale
    $595,000
    View Listing →
    Downtown Zebulon Brick Building For Sale
    $595,000
    6,498 SF

    Downtown Zebulon Brick Building

    6,498 SF brick building in downtown Zebulon, North Carolina.

    117 W Vance St, Zebulon, NC 27597
    View Listing
    Property ID
    US53-0922768
    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

    • Warehouses

    Property Details for 117 Vance St

    Year built
    1919
    Construction
    BRICK
    Lot size
    0.14 lot acres
    Property size
    6,650 SF
    Zone code
    DTC
    Property type
    Warehouses
    APN
    2705.14-34-5392 0011897
    APU
    2705143453920011897

    Description

    This exceptional 6,498-square-foot storefront property, located at 117 W Vance St in downtown Zebulon, North Carolina, presents a unique investment opportunity. The building, constructed in 1919, boasts a prominent location within the heart of Zebulon's commercial district. Currently vacant, this owner-user property offers significant potential for a variety of retail businesses. The building's solid brick construction reflects its enduring character and quality. The property sits on a 0.14-acre lot and is zoned DTC (Downtown Core), allowing for a range of commercial uses. With a total asking price of $595,000, this translates to a price per square foot of $91.57. The property's Property Identification Number (PIN) is 2705345392. This prime location offers excellent visibility and accessibility, making it an ideal choice for entrepreneurs seeking a well-established space in a thriving community. The property's history and location combine to create a compelling investment opportunity in a rapidly growing area of Wake County. Serious inquiries are encouraged.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $430,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $860,000
      6.5%
      $795,000
      7%
      $740,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Zebulon
    County
    Wake
    State
    North Carolina
    Longitude
    -78.3132
    Latitude
    35.8207
    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
    $4,247
    $24,392
    $320,338
    $344,730
    -
    $24,392
    $320,338
    $344,730

    Comparable in this City

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      16,660 SF

      722 Gannon Ave

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      View Details
    • Value Estimation
      $1,785,000
      11,440 SF

      700 Gannon Ave

      MINI-WAREHOUSE, STORAGE • 11,440 SF
      700 Gannon Ave, Zebulon, NC 27597
      View Details
    • Value Estimation by Request
      4,020 SF

      519 Industrial Dr

      WAREHOUSE, STORAGE • 4,020 SF
      519 Industrial Dr, Zebulon, NC 27597-2756
      View Details
    • Value Estimation by Request
      2,550 SF

      13096 Nc 96th N Hwy

      MINI-WAREHOUSE, STORAGE • 2,550 SF
      13096 Nc 96th N Hwy, Zebulon, NC 27597-7423
      View Details
    • Value Estimation by Request
      2,520 SF

      769 Richardson Rd

      WAREHOUSE, STORAGE • 2,520 SF
      769 Richardson Rd, Zebulon, NC 27597-8081
      View Details
    • Value Estimation
      $1,545,000
      18,176 SF

      112 Church St

      WAREHOUSE, STORAGE • 18,176 SF
      112 Church St, Zebulon, NC 27597-2612
      View Details

    Similar Nearby for Sale

    • $1,450,000
      1,200 SF

      Zebulon Industrial Land For Sale

      8.38 acres of HI zoned land with site plan.
      1437 Mack Todd Rd, Zebulon, NC 27597
      View Details
    • Contact for pricing
      1,200 SF

      Zebulon Industrial Land For Sale

      8.38 acres of HI zoned land with site plan.
      1437 Mack-Todd Rd, Zebulon, NC 27597
      View Details
    • $1,450,000
      8.38 Acres

      Zebulon Industrial Land with Building

      8.38 acres of industrial land with existing building.
      1437 Mack Todd Rd, Zebulon, NC 27597
      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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