Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2230 Grassland Dr Fuquay Varina, NC 27526-6893

    • Commercial land
    • 1.26 lot acres
    OFF-MARKET
    Last Sale
    Apr 03, 2023
    $555,000
    Value Estimations
    $560,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-3953353
    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 land

    Property Details for 2230 Grassland Dr

    Lot size
    1.26 lot acres
    Zone code
    RLI
    Property type
    Commercial land
    APN
    0657.02-69-6191 0368837
    APU
    657026961910368837

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $575,000
      ML approach
      $635,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Fuquay Varina
    County
    Wake
    State
    North Carolina
    Longitude
    -78.8093
    Latitude
    35.6158
    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
    $3,052
    $274,430
    $0.00
    $274,430
    -
    $274,430
    $0.00
    $274,430

    Comparable in this City

    • Value Estimation by Request
      1.88 Acres

      Us 401

      VACANT COMMERCIAL LAND • 1.88 Acres
      Us 401, Fuquay Varina, NC 27526
      View Details
    • Value Estimation by Request
      0.53 Acres

      7845 Us 401st N

      VACANT COMMERCIAL LAND • 0.53 Acres
      7845 Us 401st N, Fuquay Varina, NC 27526-5933
      View Details
    • Value Estimation by Request
      0.12 Acres

      138 Fuquay Ave

      VACANT COMMERCIAL LAND • 0.12 Acres
      138 Fuquay Ave, Fuquay Varina, NC 27526-2211
      View Details
    • Value Estimation by Request
      0.02 Acres

      3212 Chalybeate Spgs Rd

      VACANT COMMERCIAL LAND • 0.02 Acres
      3212 Chalybeate Spgs Rd, Fuquay Varina, NC 27526
      View Details
    • Value Estimation by Request
      0.02 Acres

      30 Baucom Ln

      VACANT COMMERCIAL LAND • 0.02 Acres
      30 Baucom Ln, Fuquay Varina, NC 27526-4275
      View Details
    • Value Estimation by Request
      0.50 Acres

      1031 Oakridge Duncan Rd

      VACANT COMMERCIAL LAND • 0.50 Acres
      1031 Oakridge Duncan Rd, Fuquay Varina, NC 27526-9123
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Commercial Lots Near Highway 55

      Commercial lots available near future 540 expansion.
      Bengal Blvd, Fuquay-Varina, NC 27526
      View Details
    • Contact for pricing

      Land Assemblage on S. Main

      Land assemblage at the intersection of S. Main and Judd Pkwy.
      Fuquay Varina, NC 27526
      View Details
    • $300,000
      Pending

      Land Near Fuquay Varina Amenities

      1.54 acre land parcel near retail and educational facilities.
      10 10 Rd, Fuquay Varina, NC 27526
      View Details
    • $1,700,000
      Pending

      Prime Commercial Land Opportunity

      Two side-by-side parcels in the heart of Fuquay-Varina.
      420 N Main St, Fuquay Varina, NC 27526
      View Details
    • $200,000
      Pending

      Land on US-401 Highway

      Land available on US-401 Highway in Fuquay Varina, NC.
      Us 401 Hwy, Fuquay Varina, NC 27526
      View Details
    • Contact for pricing

      Prime Land in Fuquay-Varina Corridor

      11.12 acre parcel in high-demand area, multiple development options.
      Long St, Fuquay-Varina, NC 27526
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Land for Lease in Fuquay-Varina

      Commercial land available for lease in Fuquay-Varina, North Carolina.
      Nc-55 & Clayton Rd, Fuquay-Varina, NC 27526
      View Details
    • Contact for pricing

      Prime Retail Pad Site Available

      1.00-acre pad for ground lease near Main Street.
      640 Lakestone Commons Ave, Fuquay Varina, NC 27526
      View Details
    • Contact for pricing

      Land For Rent in Fuquay-Varina

      Land available for rent in Fuquay-Varina, North Carolina.
      1950 Cinema Dr, Fuquay-Varina, NC 27526
      View Details
    • Contact for pricing

      Land for Rent in Fuquay-Varina

      Land available for rent in Fuquay-Varina, North Carolina.
      N Main St & Nc 55 Hwy, Fuquay-Varina, NC 27526
      View Details
    • $37 SF/Yr

      Retail Center with Available Space

      Multitenant retail center with spaces available for lease.
      1301 North Judd Pkwy Northeast, Fuquay-Varina, NC 27526
      View Details
    • Contact for pricing

      New Retail Space For Lease

      New ground floor retail space available in Fuquay-Varina, NC.
      200 Alex Ridge Dr, Fuquay-Varina, NC 27526
      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.
    2230 Grassland Dr
    Fuquay Varina, NC 27526-6893
    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.
    Sign Up Successful!
    You now have access to more from Realmo!