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Property profile & analytics
OFF-MARKET Estimated value $1,170,000
Retail space

2451 Wendell Blvd Wendell, NC 27591-6903

14,301 SF 4.59 ac lot Built 2007
Entity Owned 20-yr Hold ~ Est. High Equity
Property ID
US53-0075519
Property summary
AI-generated overview

This exceptional 2.9-acre commercial land parcel presents a remarkable investment opportunity in the thriving town of Wendell, North Carolina. Located at 2451 Wendell Blvd, this property boasts significant frontage along Business 64/Wendell Boulevard, offering unparalleled visibility and accessibility. Its strategic position between Interstate 87 and downtown Wendell ensures high traffic volume and convenient access to a growing community. The property is zoned CH - Town of Wendell, and is particularly attractive due to its proximity to the future Wake Tech Wendell Campus, less than two miles away. The site is already partially developed, featuring a graded and pad-ready area, along with a partially completed parking lot. Some bioretention is already in place, and importantly, no further road improvements are required as the Fee in Lieu has been paid. The property is subject to subdivision, offering flexibility for various development scenarios. A site plan is available, highlighting potential uses such as a daycare center. This turnkey opportunity combines a desirable location, existing infrastructure, and development-ready features, making it an ideal investment for discerning buyers seeking a high-impact commercial project in a rapidly expanding market. The APN is 1784165487.

Property profile
Verified
Property type Retail space
Use group RETAIL STORES (PERSONAL SERVICES)
Year built 2007
Construction BRICK
Total area 14,301 SF
Lot 4.59 ac (199,940 SF)
Zoning code CH
APN 1784.01-16-5487 0114187
UPID US53-0075519
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$1.53M
Blend (final) Blend
$1.17M
Owner & transaction history
Merrimen Dev Co LLC · 20 yrs held
Merrimen Dev Co LLC
since 2005
6 recorded transactions
2005
$550,000
2005
Price N/A
2002
Price N/A
2002
Price N/A
1969
Price N/A
1969
Price N/A
Zoning & alternative use
CH · Wendell, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description

The intensity of commercial development in the Highway Commercial district is established by the traffic of the fronting thoroughfare. The intent of these regulations is to facilitate convenient access, minimize traffic congestion, and reduce the visual impact of excessive signage and parking lots

Zone name Highway Commercial
General category COMMERCIAL
Zone area 80.84 ac
Source Realmo
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