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

    600 Greenfield Pkwy Garner, NC 27529-6947

    • Distribution centers
    • 61,048 SF
    • 9.75 lot acres
    OFF-MARKET
    Value Estimations
    $6,780,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-1081933
    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

    • Black & Veatch / Engineering Consultant / Engineer

    Property Details for 600 Greenfield Pkwy

    Year built
    2006
    Lot size
    9.75 lot acres
    Property size
    61,048 SF
    Zone code
    HI
    Property type
    Distribution centers
    APN
    1720.08-99-0080 0340027
    APU
    1720089900800340027

    Description

    This exceptional 61,792-square-foot warehouse, located at 600 North Greenfield Parkway in Wake County, presents a significant opportunity for industrial tenants. Currently fully vacant, the property offers a single-story building with a minimum divisible space of 30,790 square feet and a maximum contiguous space of 61,792 square feet, providing flexibility for various business needs. The warehouse boasts impressive features including a 21-foot clear ceiling height, allowing for efficient storage and operations. Access is facilitated by 11 dock-high doors and 3 drive-in doors, ensuring smooth loading and unloading processes. The building's layout includes a column spacing of 40 feet by 42 feet and a depth of 122 feet, optimizing space utilization. Modern amenities such as LED lighting and an ESFR sprinkler system are in place, enhancing both efficiency and safety. The property is I-2 zoned, offering a wide range of permitted uses. This prime location provides excellent access to major transportation routes, making it an ideal choice for businesses requiring efficient logistics and distribution capabilities. Contact us today to learn more about this exceptional warehouse opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $7,910,000
      6.5%
      $7,300,000
      7%
      $6,780,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $7,699,000
      Market price range: $5.95M - $13.1M
      AI Estimate
      $5,339,000
      Market price range: $2.49M - $10.8M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $9,080,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Garner
    County
    Wake
    State
    North Carolina
    Longitude
    -78.565
    Latitude
    35.6971
    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
    $70,328
    $553,788
    $4,923,501
    $5,477,289
    -
    $553,788
    $4,923,501
    $5,477,289

    Comparable in this City

    • Value Estimation
      $15,535,000
      166,413 SF

      1201 Greenfield Pkwy

      DISTRIBUTION WAREHOUSE • 166,413 SF
      1201 Greenfield Pkwy, Garner, NC 27529-6960
      View Details
    • Value Estimation
      $8,430,000
      83,000 SF

      1300 Greenfield Pkwy

      DISTRIBUTION WAREHOUSE • 83,000 SF
      1300 Greenfield Pkwy, Garner, NC 27529
      View Details
    • Value Estimation by Request
      2,541,106 SF

      4851 Jones Sausage Rd

      DISTRIBUTION WAREHOUSE • 2,541,106 SF
      4851 Jones Sausage Rd, Garner, NC 27529-9438
      View Details
    • Value Estimation
      $20,235,000
      150,000 SF

      2337 Us 70th E Hwy

      DISTRIBUTION WAREHOUSE • 150,000 SF
      2337 Us 70th E Hwy, Garner, NC 27529-9431
      View Details
    • Value Estimation
      $21,945,000
      150,662 SF

      1001 Greenfield Pkwylh

      DISTRIBUTION WAREHOUSE • 150,662 SF
      1001 Greenfield Pkwylh, Garner, NC 27529-6956
      View Details
    • Value Estimation
      $32,625,000
      225,000 SF

      3001 Garner Business Park Dr

      DISTRIBUTION WAREHOUSE • 225,000 SF
      3001 Garner Business Park Dr, Garner, NC 27529-8735
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      236,600 SF

      New Industrial Warehouse in Garner

      236,600 SF warehouse with Q1 2026 delivery date.
      4520 Guy Rd, Garner, NC 27529
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    • $1,500,000
      6,000 SF

      Garner Flex Building: Prime Location

      6,000 SF Flex Space, $1.5M
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      26,000 SF

      New Class A Flex Space

      26,000 SF Class A Flex space in Greenfield Business Park.
      3201 Waterfield Dr, Garner, NC 27529
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    • $750,000
      3.05 Acres

      Garner, NC: 3 Acre Development Land

      Prime Garner location, high-growth potential, retail zoning.
      Benson Rd, Garner, NC 27529
      View Details
    • Contact for pricing
      1.29 Acres

      Prime Garner Farmland - 3 Parcels

      Three exceptional farm lots in Garner, NC.
      0 Benson Rd & Turner Farms Rd, Garner, NC 27529
      View Details
    • $850,000
      Pending

      7.77 Acres Near White Oak

      7.77 acres of land with development potential in Garner, NC.
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    Similar Nearby for Lease

    • Contact for pricing
      59,400 SF

      Prime Garner Industrial Flex Space

      59,400 SF Flex Warehouse Available
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      View Details
    • Contact for pricing
      213,800 SF

      42 Crossing: Garner Industrial Space

      Modern industrial space, flexible layouts available.
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      View Details
    • $15 SF/Yr
      45,840 SF

      Garner, NC Warehouse Space

      45,840 SF Warehouse, Flexible Sizes
      2337 Us Highway 70, Garner, NC 27529
      View Details
    • $18 SF/Yr
      27,500 SF

      Garner, NC Warehouse Space

      Flexible Warehouse Space Available
      1400 Mechanical Blvd, Garner, NC 27529
      View Details
    • $14 SF/Yr
      31,762 SF

      Garner Industrial Building For Lease

      26,362 SF industrial building in a visible, accessible location.
      101-109 Vandora Springs Rd, Garner, NC 27529
      View Details
    • Contact for pricing
      128,362 SF

      Warehouse Space Near I-40

      Infill warehouse space with outdoor storage near I-40.
      3001 Jones Sausage Rd, Garner, NC 27529
      View Details
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    Garner, NC 27529-6947
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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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