Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    1205 North Salem St, Unit | Apex Apex, NC 27502

    • Commercial real estate
    • 30.95 lot acres
    For Sale
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-2119191
    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

    • Commercial real estate

    Property Details for 1205 North Salem St

    Lot size
    30.95 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional 30.95-acre land parcel presents a remarkable opportunity for a mixed-use development in the thriving Apex, North Carolina market. Located on North Salem Street near US 64 Highway, this highly visible site boasts multiple access points from both All Wheel Drive and North Salem Street, ensuring excellent accessibility. The property's location within Wake County places it in a densely populated and rapidly growing affluent submarket of the Raleigh-Durham metro area. Future land use designations support a blend of medium to high-density residential development alongside commercial uses, including retail and office space. This presents an extraordinary opportunity to create a master-planned community that capitalizes on the area's strong demand for housing and commercial services. The expansive acreage allows for significant flexibility in design and development, catering to a wide range of project visions. The property's strategic location near Downtown Apex and major transportation arteries offers unparalleled convenience and connectivity. This is a truly exceptional opportunity to acquire a large, strategically located parcel in one of North Carolina's fastest-growing areas. The site's size and zoning potential make it ideal for a large-scale development project that will shape the future of Apex. The property is zoned to allow for a variety of uses, offering significant flexibility for developers.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Apex
    County
    Wake
    State
    North Carolina
    Longitude
    -78.851017321305
    Latitude
    35.745239023552

    Comparable in this City

    • $2,500,000

      Apex Estate Lot: 12.8 Acres

      Prime Chatham County land, unrestricted, near RDU.
      557 Olives Chapel Rd, Apex, NC 27502
      View Details
    • $535,000

      New Construction Townhome Near Apex

      New construction townhome featuring modern finishes and upgrades.
      635 Sawcut Ln, Apex, NC 27502
      View Details
    • $535,000
      2,137 SF

      New Construction Townhome Near Apex

      New 3-bedroom townhome with flex space, modern finishes.
      631 Sawcut Ln, Apex, NC 27502
      View Details
    • $382,000
      2,226 SF

      Spacious Home with Open Layout

      Single-family home featuring an open floor plan and modern kitchen.
      102 Darley Dale Loop, Apex, NC 27502
      View Details
    • $529,000
      2,145 SF

      New Construction Townhome Near Downtown

      New 3-bedroom townhome with modern finishes, near downtown Apex.
      633 Sawcut Ln, Apex, NC 27502
      View Details
    • $550,000
      2.17 Acres

      Prime Apex Location Land

      2+ acre lot, build your dream home or subdivide.
      2908 Evans Rd, Apex, NC 27502
      View Details

    Similar Nearby for Sale

    • $2,500,000

      Apex Estate Lot: 12.8 Acres

      Prime Chatham County land, unrestricted, near RDU.
      557 Olives Chapel Rd, Apex, NC 27502
      View Details
    • $535,000
      2,137 SF

      New Construction Townhome Near Apex

      New 3-bedroom townhome with flex space, modern finishes.
      631 Sawcut Ln, Apex, NC 27502
      View Details
    • $535,000

      New Construction Townhome Near Apex

      New construction townhome featuring modern finishes and upgrades.
      635 Sawcut Ln, Apex, NC 27502
      View Details
    • $382,000
      2,226 SF

      Spacious Home with Open Layout

      Single-family home featuring an open floor plan and modern kitchen.
      102 Darley Dale Loop, Apex, NC 27502
      View Details
    • $529,000
      2,145 SF

      New Construction Townhome Near Downtown

      New 3-bedroom townhome with modern finishes, near downtown Apex.
      633 Sawcut Ln, Apex, NC 27502
      View Details
    • $2,900,000
      3 SF

      Apex Land Development Opportunity

      Land development opportunity in Apex, an affluent Raleigh-Durham submarket.
      1400 Center St, Apex, NC 27502
      View Details

    Similar Nearby for Lease

    • $22 SF/Yr
      52,263 SF

      Apex Office Suite - 867 SF

      Prime Apex office space, immediate occupancy.
      800 Williams St, Apex, NC 27502
      View Details
    • Contact for pricing
      1 SF

      Apex Retail Space - Williams St.

      Prime Apex retail location, single tenant, 1 sq ft.
      746 Williams St, Apex, NC 27502
      View Details
    • $18 SF/Yr
      19,203 SF

      Apex Flex Space Sublease

      Flex space available for sublease in SW Wake County.
      2047 Energy Dr, 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.
    1205 North Salem St, Unit | Apex
    Apex, NC 27502
    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

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.