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    Property profile & analytics

    1501 Salem St Apex, NC 27502-2933

    • Automotive properties
    • 145,001 SF
    • 20.31 lot acres
    OFF-MARKET
    Value Estimations
    $18,825,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-0926326
    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

    • Mustang Charlie's Diner / Restaurant
    • Crossroads Ford of Apex - Service Department / Auto Repair Shop / Vehicle Inspection Center
    • Crossroads Ford of Apex / Car Dealership
    • Crossroads Ford of Apex - Parts Department / Auto Parts Store

    Property Details for 1501 Salem St

    Year built
    2018
    Construction
    BRICK
    Lot size
    20.31 lot acres
    Property size
    145,001 SF
    Zone code
    PC-CZ
    Property type
    Automotive properties
    APN
    0742.10-37-4226 0055260
    APU
    742103742260055260

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $17,428,000
      Market price range: $11.3M - $34.0M

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

    Location Insight

    • Map
    • Local Demand
    City
    Apex
    County
    Wake
    State
    North Carolina
    Longitude
    -78.8536
    Latitude
    35.7483
    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
    $309,225
    $4,459,657
    $23,728,562
    $28,188,219
    -
    $4,459,657
    $23,728,562
    $28,188,219

    Comparable in this City

    • Value Estimation
      $850,000
      4,940 SF

      1250 Key Ring Dr

      AUTO REPAIR, GARAGE • 4,940 SF
      1250 Key Ring Dr, Apex, NC 27502-7091
      View Details
    • Value Estimation
      $1,515,000
      5,124 SF

      1101 Old Raleigh Rd

      AUTO REPAIR, GARAGE • 5,124 SF
      1101 Old Raleigh Rd, Apex, NC 27502-1498
      View Details
    • Value Estimation
      $1,170,000
      6,630 SF

      548 Williams St

      AUTO REPAIR, GARAGE • 6,630 SF
      548 Williams St, Apex, NC 27502-2151
      View Details
    • Value Estimation
      $800,000
      4,906 SF

      900 Williams St

      CAR WASH • 4,906 SF
      900 Williams St, Apex, NC 27502-2159
      View Details
    • Value Estimation by Request
      2,400 SF

      400 Salem St

      AUTO REPAIR, GARAGE • 2,400 SF
      400 Salem St, Apex, NC 27502-2038
      View Details
    • Value Estimation by Request
      2,100 SF

      205 Williams St

      CAR WASH • 2,100 SF
      205 Williams St, Apex, NC 27502-2144
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      34,000 SF

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      Flex space for lease with US 1 visibility.
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    • $499,000
      Pending

      Apex Ranch Duplex in Orchard Villas

      Well-maintained 55+ ranch duplex with modern amenities and convenient location.
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      Land in Prime Apex Location

      4.03 acres of commercial land in an excellent location.
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      Apex Mixed-Use Commercial Buildings

      Mixed-use commercial buildings for sale in desirable Apex location.
      1400-1480 Chapel Ridge Rd, Apex, NC 27502
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      Apex Commercial Land and Buildings

      Commercial land with office/flex buildings for sale in Apex.
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      Apex Land Development Opportunity

      30.95-acre land development opportunity in Apex, North Carolina.
      1205 North Salem St, Apex, NC 27502
      View Details

    Similar Nearby for Lease

    • $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
    • 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
    • $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
    • $18 SF/Yr

      Apex Flex Space Sublease

      Flex space available for sublease in SW Wake County.
      2047 Energy Dr, Apex, NC 27502
      View Details
    • 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
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    1501 Salem St
    Apex, NC 27502-2933
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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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