Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    2908 Optimist Farm Rd Apex, NC 27539
    Back to Search
    Property profile & analytics

    2908 Optimist Farm Rd, Apex, NC 27539

    View on Map
    • Golf courses & driving ranges
    • 2,250 SF
    • 69.00 lot acres
    Off-Market
    Property ID
    US53-1540970
    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

    • The Optimist Club Farm / Food Processing Plant

    Property Details for 2908 Optimist Farm Rd

    Year built
    1965
    Construction
    CONCRETE BLOCKS
    Lot size
    69.00 lot acres
    Zone code
    RA
    Property type
    Golf courses & driving ranges
    APN
    0679.02-86-8387 0090328
    APU
    679028683870090328

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Nov 6, 2017 — Optimist Club Of Raleigh North Ca Cummings,barbara S Grant Deed · related —

    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
    -78.735
    Latitude
    35.6619
    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
    $0.00
    $6,581,760
    $137,284
    $6,719,044
    -
    $6,581,760
    $137,284
    $6,719,044

    Comparable in this City

    • Value Estimation
      $2,335,000
      41,752 SF

      8921 Holly Spgs Rd

      COUNTRY CLUB
      8921 Holly Spgs Rd, Apex, NC 27539-9197
      View Details
    • Value Estimation by Request
      2,650 SF

      2512 10th 10th Rd

      COUNTRY CLUB
      2512 10th 10th Rd, Apex, NC 27539-8121
      View Details
    • Value Estimation
      $2,845,000
      17,268 SF

      2121 Williams St

      WAREHOUSE, STORAGE
      2121 Williams St, Apex, NC 27539-7764
      View Details
    • Value Estimation
      $3,040,000
      23,100 SF

      2131 Williams St

      WAREHOUSE, STORAGE
      2131 Williams St, Apex, NC 27539-7816
      View Details
    • Value Estimation by Request
      504 SF

      2260 Williams St

      RETAIL STORES (PERSONAL SERVICES)
      2260 Williams St, Apex, NC 27539-7715
      View Details
    • Value Estimation
      $3,580,000
      25,000 SF

      1010 Classic Rd

      WAREHOUSE, STORAGE
      1010 Classic Rd, Apex, NC 27539-4401
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Wooded Land Near Highway 540

      3+ acre wooded property near new highway with easement.
      204 Fair Haven St, Apex, NC 27539
      View Details
    • Contact for pricing

      Land for Sale in Apex

      Approximately 6.15 acres of land available in Holly Springs.
      Sunset Lake Rd, Holly Springs, NC 27539
      View Details
    • $1,250,000
      3 SF

      Apex Land Parcel For Sale

      3-acre land parcel available in Apex, North Carolina.
      1537 East Williams St, Apex, NC 27539
      View Details
    • $150,000
      3.00 Acres

      Wooded Land Near Highway 540

      3-acre wooded property near upcoming Highway 540 in Apex, NC.
      204 Fair Haven St, Apex, NC 27539
      View Details
    • $399,000
      Pending

      Land Opportunity in Apex, NC

      Residential land for sale, ideal for building a dream home.
      6509 Ten-Ten Rd, Apex, NC 27539
      View Details

    Similar Nearby for Lease

    • $15 SF/Yr
      12,400 SF

      Apex Warehouse and Industrial Space

      Warehouse and industrial spaces available in accessible Apex location.
      2420 Reliance Ave, Apex, NC 27539
      View Details
    • Contact for pricing

      Carolina Springs Town Center Retail

      Retail spaces available within a 21-acre mixed-use development.
      3708 Old Holly Springs Apex Rd, Apex, NC 27539
      View Details
    • Contact for pricing
      222,121 SF

      Apex Warehouse Space Available

      222,121 SF warehouse with 32' ceilings, available July 2025.
      2161 Production Dr, Apex, NC 27539
      View Details
    • Contact for pricing
      208,000 SF

      Apex Warehouse Space Available Soon

      208,000 SF warehouse with ample loading and parking.
      600 Pristine Water Dr, Apex, NC 27539
      View Details
    • Contact for pricing
      1,625 SF

      Retail Space in Mixed-Use Development

      Retail spaces available in Apex, NC, mixed-use development.
      Mcchesney Hl Loop, Apex, NC 27539
      View Details
    • Contact for pricing
      183,232 SF

      Apex Warehouse with Ample Loading

      Large warehouse in Apex, NC, available 3Q 2024.
      2170 Production Dr, Apex, NC 27539
      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.
    2908 Optimist Farm Rd
    Apex, NC 27539
    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

    Thank You for Inquiry
    2908 Optimist Farm Rd, Apex, NC, 27539
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!