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    2236 Old Us 1 Hwy Apex, NC 27502
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    Property profile & analytics

    2236 Old Us 1 Hwy, Apex, NC 27502

    View on Map
    • Retail space
    • 11.68 lot acres
    Off-Market
    Property ID
    US53-0538184
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • R G Landscape / Landscaping / General Contractor

    Property Details for 2236 Old Us 1 Hwy

    Lot size
    11.68 lot acres
    Property type
    Retail space

    Description

    This exceptional 11.68-acre commercial land parcel, located at 2236 Old US 1 Hwy in Apex, NC (zip code 27502), presents a prime investment opportunity within The Summit, a thriving planned mixed-use development. Situated in Wake County, this property boasts a PUD-CZ zoning designation, allowing for up to 76,500 square feet of commercial or retail space. An approved site plan includes five outparcel lots, offering versatile development options for in-line retail or outparcel uses. The site's strategic location at the intersection of Humie Olive Road and Old US 1 Highway provides excellent visibility and accessibility. The Summit community will ultimately encompass 16 single-family homes and 86 townhomes, commencing construction in 2024, creating a strong residential base for supporting commercial ventures. This property benefits from being in one of the Triangle's fastest-growing submarkets, characterized by affluent demographics and significant population growth. The asking price for this exceptional commercial land is $4,088,000. This represents a unique chance to capitalize on the burgeoning Apex market and establish a successful commercial presence within a vibrant, expanding community. The property's size and zoning make it ideal for a variety of retail and commercial developments.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Apex
    County
    Wake
    State
    North Carolina
    Longitude
    -78.89970367831
    Latitude
    35.698686627064

    Comparable in this City

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      Rare .35 acre property in Apex's Small Town Character District.
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      Wooded Lot in Apex Community

      Half-acre lot in Apex, no HOA, convenient location.
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    • $72,000

      Commercial Lot Near Downtown Apex

      0.33 acre commercial lot suitable for small business uses.
      443 Williams St. W Chatham St Apex, Apex, NC 27502
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    • $900,000
      Pending

      Apex Land with Development Potential

      1.99 acres near Bella Casa neighborhood with development potential.
      3020 Holland Rd, Apex, NC 27502
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    Similar Nearby for Sale

    • $3,950,000
      37.40 Acres

      Apex Land Investment Opportunity

      37.4 acres in Apex, NC, bordering Jordan Lake.
      2510 Tody Goodwin Rd, Apex, NC 27502
      View Details
    • $425,000
      0.35 Acres

      Downtown Apex Residential Land Opportunity

      Rare .35 acre property in Apex's Small Town Character District.
      212 Hunter St, Apex, NC 27502
      View Details
    • Contact for pricing

      Wooded Lot in Apex Community

      Half-acre lot in Apex, no HOA, convenient location.
      1023 Irongate Dr, Apex, NC 27502
      View Details
    • $72,000

      Commercial Lot Near Downtown Apex

      0.33 acre commercial lot suitable for small business uses.
      443 Williams St. W Chatham St Apex, Apex, NC 27502
      View Details
    • $900,000
      Pending

      Apex Land with Development Potential

      1.99 acres near Bella Casa neighborhood with development potential.
      3020 Holland Rd, Apex, NC 27502
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,588 SF

      Retail Space Anchored by Lowes

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      2,375 SF

      Retail Space in Power Center

      Retail space available in a well-located power center.
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    • $40 SF/Yr

      Prime Retail Space in Apex

      Retail space for lease in Apex, NC with high visibility.
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      Retail Space in Apex

      Retail property available for lease in Apex, North Carolina.
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      Dominant Power Center Sublease Opportunity

      Retail sublease available in a high-traffic Apex shopping center.
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    • $15 SF/Yr

      Apex Flex Space Available

      Flex space in prime industrial area, immediate occupancy.
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      View Details
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    Apex, NC 27502
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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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