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    Property profile & analytics

    1308 Bobbitt Dr Garner, NC 27529-3040

    • Warehouses
    • 24,000 SF
    • 1.20 lot acres
    OFF-MARKET
    Value Estimations
    $1,745,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-0412656
    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

    • Joe Hudson's Collision Center / Auto Repair Shop

    Property Details for 1308 Bobbitt Dr

    Year built
    1969
    Construction
    METAL FRAME
    Lot size
    1.20 lot acres
    Property size
    24,000 SF
    Zone code
    LI
    Property type
    Warehouses
    APN
    1711.13-14-8963 0057234
    APU
    1711131489630057234

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,339,000
      Market price range: $2.34M - $5.15M

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

    Location Insight

    • Map
    • Local Demand
    City
    Garner
    County
    Wake
    State
    North Carolina
    Longitude
    -78.6232
    Latitude
    35.7139
    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
    $10,626
    $209,088
    $618,508
    $827,596
    -
    $209,088
    $618,508
    $827,596

    Comparable in this City

    • Value Estimation
      $8,205,000
      48,205 SF

      1414 Mechanical Blvd

      WAREHOUSE, STORAGE • 48,205 SF
      1414 Mechanical Blvd, Garner, NC 27529-2539
      View Details
    • Value Estimation by Request
      1,500 SF

      345 Technical Ct

      WAREHOUSE, STORAGE • 1,500 SF
      345 Technical Ct, Garner, NC 27529-2873
      View Details
    • Value Estimation by Request
      1,500 SF

      137 Technical Ct

      WAREHOUSE, STORAGE • 1,500 SF
      137 Technical Ct, Garner, NC 27529
      View Details
    • Value Estimation by Request
      1,500 SF

      141 Technical Ct

      WAREHOUSE, STORAGE • 1,500 SF
      141 Technical Ct, Garner, NC 27529
      View Details
    • Value Estimation
      $1,390,000
      11,050 SF

      5255 Raynor Rd, Unit M

      WAREHOUSE, STORAGE • 11,050 SF
      5255 Raynor Rd, Garner, NC 27529-9448
      View Details
    • Value Estimation
      $3,650,000
      28,988 SF

      5301 Raynor Rd, Unit M

      WAREHOUSE, STORAGE • 28,988 SF
      5301 Raynor Rd, Garner, NC 27529-9450
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      12,500 SF

      Flex Space with Conditioned Warehouse

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      New Class A Flex Space

      26,000 SF Class A Flex space in Greenfield Business Park.
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      6,000 SF

      6,000 SF Flex Building

      Flex building with conditioned warehouse and office space for sale.
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      New Industrial Warehouse in Garner

      236,600 SF warehouse with Q1 2026 delivery date.
      4520 Guy Rd, Garner, NC 27529
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    • $750,000
      3.05 Acres

      Garner, NC: 3 Acre Development Land

      Prime Garner location, high-growth potential, retail zoning.
      Benson Rd, Garner, NC 27529
      View Details
    • $115,000
      0.48 Acres

      Wooded Lot in Meadowbrook Park

      Residential land for custom build near downtown Garner, NC.
      7909 Independent Ct, Garner, NC 27529
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    Similar Nearby for Lease

    • Contact for pricing

      Flex/Warehouse Space for Lease

      Flex/warehouse space available for lease.
      500 Waterfield Ridge Pl, Garner, NC 27529
      View Details
    • $10 SF/Yr

      Warehouse Space Available in 2026

      45,840 SF warehouse space with frontage on US Hwy 70.
      2337 Us 70 Hwy E, Garner, NC 27529
      View Details
    • 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

      New Construction Flex/Warehouse Space

      New construction flex/warehouse space available for lease.
      105 Sigma Dr, Garner, NC 27529
      View Details
    • Contact for pricing

      Industrial Space in Garner, NC

      Available industrial space with office and warehouse components for lease.
      800 N Greenfield Pkwy, Garner, NC 27529
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    • Contact for pricing
      59,400 SF

      New Construction Flex/Warehouse Space

      17,517 RSF flex/warehouse space in Greenfield Business Park.
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      View Details
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    Garner, NC 27529-3040
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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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