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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    400 Gannon Ave Zebulon, NC 27597

    • Warehouses
    • 46,391 SF
    • 8.80 lot acres
    For Lease
    View listing
    $9 SF/Yr
    Last Sale
    Feb 20, 2024
    $7,618,000
    Value Estimations
    $7,620,000
    Cap Rate Potential
    4.7%
    Warehouses
    Location Intelligence
    Property ID
    US53-1077291
    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

    • DEVIL-DOG Dungarees / Clothing Supplier

    Property Details for 400 Gannon Ave

    Year built
    1954
    Construction
    BRICK
    Lot size
    8.80 lot acres
    Property size
    46,391 SF
    Zone code
    HI
    Property type
    Warehouses
    APN
    2705.10-46-8163 0066152
    APU
    2705104681630066152

    Description

    This exceptional industrial property in Wake County, North Carolina, offers a rare opportunity to lease warehouse space in a prime location. The property consists of four buildings totaling 148,004 square feet, situated on 10.67 acres of land. Currently, 32,000 contiguous square feet are immediately available, with a minimum divisible space of 10,000 square feet. The buildings, constructed in 1954, are well-maintained and feature desirable amenities. Each unit includes two dock doors and a convenient drive-in access point, streamlining loading and unloading operations. For enhanced safety and security, the entire building is equipped with a sprinkler system. Existing racking is in place, providing immediate storage solutions for tenants. This property presents a fantastic opportunity for businesses seeking efficient and well-appointed warehouse space in a thriving location. The property is located in Zebulon, NC, offering excellent access to major transportation routes and a strong local workforce. This is a multi-tenant building, providing a collaborative and dynamic environment.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $7,620,000
      ML approach
      $7,620,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $6,010,000
      6.5%
      $5,545,000
      7%
      $5,150,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $7,693,000
      Market price range: $6.72M - $14.3M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $9,730,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Zebulon
    County
    Wake
    State
    North Carolina
    Longitude
    -78.3084
    Latitude
    35.8256
    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
    $37,212
    $674,657
    $2,345,787
    $3,020,444
    -
    $674,657
    $2,345,787
    $3,020,444

    Comparable in this City

    • Value Estimation by Request
      1,692 SF

      1310 Old Us Hwy 264

      WAREHOUSE, STORAGE • 1,692 SF
      1310 Old Us Hwy 264, Zebulon, NC 27597-6920
      View Details
    • Value Estimation by Request
      3,318 SF

      1413 Arendell Ave

      MINI-WAREHOUSE, STORAGE • 3,318 SF
      1413 Arendell Ave, Zebulon, NC 27597-8735
      View Details
    • Value Estimation
      $785,000
      8,810 SF

      109 Arendell Ave

      WAREHOUSE, STORAGE • 8,810 SF
      109 Arendell Ave, Zebulon, NC 27597-2801
      View Details
    • Value Estimation
      $1,055,000
      11,035 SF

      115 Horton St

      WAREHOUSE, STORAGE • 11,035 SF
      115 Horton St, Zebulon, NC 27597-2627
      View Details
    • Value Estimation by Request
      3,184 SF

      302 Wakefield St

      WAREHOUSE, STORAGE • 3,184 SF
      302 Wakefield St, Zebulon, NC 27597-2539
      View Details
    • Value Estimation by Request
      4,655 SF

      111 Vance St

      WAREHOUSE, STORAGE • 4,655 SF
      111 Vance St, Zebulon, NC 27597-2843
      View Details

    Similar Nearby for Sale

    • $989,500
      14,085 SF

      Zebulon Warehouse: Prime Location

      14,085 SF Warehouse, Owner/User Opportunity
      125 Vance St, Zebulon, NC 27597
      View Details
    • $1,690,000
      1,200 SF

      Zebulon Industrial Property - $1.69M

      Flex/Warehouse, 1200 sq ft, 8.38 acres
      1437 Mack-Todd Rd, Zebulon, NC 27597
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    • $1,425,000
      8,170 SF

      Industrial/Flex Building in Revitalized Downtown

      Freestanding industrial/flex building with vacant lot in downtown Zebulon.
      107 W Horton St, Zebulon, NC 27597
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    • $5,750,000
      52,358 SF

      Downtown Zebulon Buildings For Sale

      Five buildings available in downtown Zebulon, North Carolina.
      W Vance St, Zebulon, NC 27597
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    • $755,000
      5.16 Acres

      Prime Zebulon Industrial Land

      5.16 Acres, Hwy 97 Frontage
      501 Gannon Ave, Zebulon, NC 27597
      View Details
    • $225,000
      1.32 Acres

      Zebulon Industrial Land - $225K

      1.32-acre heavy industrial lot, prime location.
      546 Barbee St, Zebulon, NC 27597
      View Details

    Similar Nearby for Lease

    • $7 SF/Yr
      15,625 SF

      Prime Zebulon Warehouse Space

      15,625 SF Warehouse - Available Now
      128 Vance St, Zebulon, NC 27597
      View Details
    • $7 SF/Yr
      15 SF

      Warehouse Space Available for Lease

      Warehouse space for lease in Zebulon, North Carolina.
      128 W Vance St, Zebulon, NC 27597
      View Details
    • $9 SF/Yr
      148,004 SF

      Prime Zebulon Warehouse Space

      10,000 - 32,000 SF Warehouse Available
      400 Gannon Ave, Zebulon, NC 27597
      View Details
    • $1,800 /Mo
      1,263 SF

      Downtown Zebulon Office Suite

      Second-floor office suite in historic downtown Zebulon.
      104 E Horton St, Zebulon, NC 27597
      View Details
    • $2,000 /Mo
      Pending

      Commercial Property on Highway 97

      Retail space for rent near Zebulon on busy Highway 97.
      13577 Nc 97, Zebulon, NC 27597
      View Details
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    400 Gannon Ave
    Zebulon, NC 27597
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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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