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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    118 Vance St Zebulon, NC 27597-2838

    • Auto shops
    • 2,992 SF
    • 0.29 lot acres
    OFF-MARKET
    Value Estimations
    $295,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-5290413
    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.

    Current Use by Public Records

    • Import Autowerks / Auto Repair Shop

    Property Details for 118 Vance St

    Year built
    1973
    Construction
    CONCRETE BLOCKS
    Lot size
    0.29 lot acres
    Property size
    2,992 SF
    Zone code
    DTC
    Property type
    Auto shops
    APN
    2705.14-44-0547 0001165
    APU
    2705144405470001165

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $340,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $244,000
      Market price range: $213k - $560k

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

    Location Insight

    • Map
    • Local Demand
    City
    Zebulon
    County
    Wake
    State
    North Carolina
    Longitude
    -78.3117
    Latitude
    35.8214
    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
    $1,970
    $63,160
    $96,764
    $159,924
    -
    $63,160
    $96,764
    $159,924

    Comparable in this City

    • Value Estimation
      $320,000
      2,013 SF

      6404 Mitchell Ml Rd

      AUTO REPAIR, GARAGE • 2,013 SF
      6404 Mitchell Ml Rd, Zebulon, NC 27597-8409
      View Details
    • Value Estimation
      $400,000
      2,688 SF

      108 Horton St

      AUTO REPAIR, GARAGE • 2,688 SF
      108 Horton St, Zebulon, NC 27597-2654
      View Details
    • Value Estimation
      $190,000
      2,340 SF

      112 Horton St

      AUTO REPAIR, GARAGE • 2,340 SF
      112 Horton St, Zebulon, NC 27597-2628
      View Details
    • Value Estimation
      $360,000
      1,225 SF

      213 Moss Rd

      AUTO REPAIR, GARAGE • 1,225 SF
      213 Moss Rd, Zebulon, NC 27597-9699
      View Details
    • Value Estimation
      $230,000
      2,400 SF

      12150 Nc 96th N Hwy

      AUTO REPAIR, GARAGE • 2,400 SF
      12150 Nc 96th N Hwy, Zebulon, NC 27597-7429
      View Details
    • Value Estimation
      $335,000
      1,288 SF

      100 Barbee St

      AUTO REPAIR, GARAGE • 1,288 SF
      100 Barbee St, Zebulon, NC 27597-2810
      View Details

    Similar Nearby for Sale

    • $395,000
      4,264 SF

      Downtown Zebulon Storefront

      Prime Retail Space, Vacant, High Visibility
      121 Vance St, Zebulon, NC 27597
      View Details
    • $5,299,000
      1.58 Acres

      Zebulon Retail Redevelopment Opportunity

      High-growth town, multiple buildings, 1.58 acres.
      101 Vance St, Zebulon, NC 27597
      View Details
    • $299,296
      3,184 SF

      Downtown Zebulon Storefront

      Prime Retail Space, Vacant, High-Traffic Area
      109 Vance St, Zebulon, NC 27597
      View Details
    • $550,000
      6,350 SF

      Downtown Zebulon Building For Sale

      6,350 SF building in downtown Zebulon with drive-in door.
      124 West Vance St, Zebulon, NC 27597
      View Details
    • $850,000
      41.39 Acres

      Historic Mill Pond Storefront Property

      Storefront and single family residence on a historic mill pond.
      15258 Taylors Mill Rd, Zebulon, NC 27597
      View Details
    • $595,000
      6,498 SF

      Downtown Zebulon Storefront Opportunity

      Historic building, 6,498 sq ft, vacant.
      117 Vance St, Zebulon, NC 27597
      View Details

    Similar Nearby for Lease

    • $2,000 /Mo
      Pending

      Commercial Property on Highway 97

      Retail space for rent near Zebulon on busy Highway 97.
      13577 Nc 97, Zebulon, NC 27597
      View Details
    • $7 SF/Yr
      15 SF

      Warehouse Space Available for Lease

      Warehouse space for lease in Zebulon, North Carolina.
      128 W Vance St, Zebulon, NC 27597
      View Details
    • $7 SF/Yr
      15,625 SF

      Prime Zebulon Warehouse Space

      15,625 SF Warehouse - Available Now
      128 Vance St, Zebulon, NC 27597
      View Details
    • $9 SF/Yr
      148,004 SF

      Prime Zebulon Warehouse Space

      10,000 - 32,000 SF Warehouse Available
      400 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
    • $1.00 SF/Yr
      66,149 SF

      Industrial Building in Zebulon, NC

      66,149 SF industrial building for lease in Zebulon.
      500 E Gannon Ave, Zebulon, NC 27597
      View Details
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    118 Vance St
    Zebulon, NC 27597-2838
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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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