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    616 1st Ave Knightdale, NC 27545-8506
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    Property profile & analytics

    616 1st Ave, Knightdale, NC 27545-8506

    View on Map
    • Investment properties
    • 1,701 SF
    • 0.80 lot acres
    Off-Market
    Last Sale Jul 15, 2022
    $1,200,000
    Property ID
    US53-5827506
    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
    $1,285,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Oak City Brewing Company / Production Facility / Brewery & Distillery

    Property Details for 616 1st Ave

    Year built
    1920
    Construction
    FRAME
    Lot size
    0.80 lot acres
    Zone code
    NMX
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    1754.15-54-2343 0335789
    APU
    1754155423430335789

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jul 29, 2022 — Cone & Keeler Investment Group LLC — Deed · related $483k · Business Expansion Funding Corporation
    Jul 15, 2022 $1,200,000 Cone & Keller Investment Group LLC Whitman Investment Properties LLC Special Warranty Deed $585k · The Fidelity Bank
    Jul 15, 2022 — Cone & Keeler Investment Group LLC — Deed · related $468k · The Fidelity Bank
    Aug 15, 2019 — Whitman Invs Prop LLC — Deed · related $815k · Southern Bk
    Mar 15, 2007 $171,000 Whitman Investment Props LLC Stanley,adam R & Jennifer R Warranty Deed $154k · Rbc Centura Bank
    Nov 18, 2005 $125,000 Adam R Stanley Bmw Builders LLC Warranty Deed $100k · First Horizon Home Loan Corp
    Oct 31, 2005 — Bmw Builders LLC Woodard,branson L JR & Debra A Warranty Deed $153k · North State Bank
    Oct 31, 2005 $180,000 Bmw Builders LLC Woodard,branson L Warranty Deed —
    — — Whitman Invs Prop LLC — Deed Of Trust · related $815k · Southern Bk
    — — Whitman Investment Props LLC — Deed Of Trust · related $900k · Paragon Commercial Bank
    — — Whitman Investment Props LLC — Deed Of Trust · related $999k · Paragon Commercial Bank

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,390,000
      ML approach
      $1,340,000

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $935,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Knightdale
    County
    Wake
    State
    North Carolina
    Longitude
    -78.4765
    Latitude
    35.794
    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
    $4,682
    $175,634
    $245,496
    $421,130
    -
    $175,634
    $245,496
    $421,130

    Comparable in this City

    • Value Estimation by Request
      2,062 SF

      7325 Knightdale Blvd

      OFFICE/RESIDENTIAL (MIXED USE)
      7325 Knightdale Blvd, Knightdale, NC 27545-9270
      View Details
    • Value Estimation by Request
      2,568 SF

      7317 Knightdale Blvd

      OFFICE/RESIDENTIAL (MIXED USE)
      7317 Knightdale Blvd, Knightdale, NC 27545-9270
      View Details
    • Value Estimation
      $1,005,000
      7,811 SF

      8921 Poole Rd

      OFFICE/RESIDENTIAL (MIXED USE)
      8921 Poole Rd, Knightdale, NC 27545-9165
      View Details
    • Value Estimation by Request
      2,568 SF

      7317 Knightdale Blvd

      OFFICE/RESIDENTIAL (MIXED USE)
      7317 Knightdale Blvd, Knightdale, NC 27545-9270
      View Details
    • Value Estimation by Request
      1,800 SF

      100 Smithfield Rd

      OFFICE/RESIDENTIAL (MIXED USE)
      100 Smithfield Rd, Knightdale, NC 27545-7781
      View Details
    • Value Estimation
      $725,000
      1,408 SF

      612 1st Ave

      OFFICE/RESIDENTIAL (MIXED USE)
      612 1st Ave, Knightdale, NC 27545-8506
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1,344 SF

      Prime Development Site on Hwy 64

      2.10-acre site ideal for retail, medical, or mixed-use development.
      3007 S Smithfield Rd, Knightdale, NC 27545
      View Details
    • Contact for pricing

      Corner Property Near Fire Station

      Commercial property with high visibility and potential for various businesses.
      7416 Forestville Rd, Knightdale, NC 27545
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      Prime Knightdale Development Opportunity

      2.10-acre site ideal for retail, medical, or mixed-use development.
      3007 S Smithfield Rd, Knightdale, NC 27545
      View Details
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      Corner Land Parcel For Sale

      3.7 acres with road frontage near new housing developments.
      1937 Hodge Rd, Knightdale, NC 27545
      View Details
    • Contact for pricing

      Knightdale Land Parcel For Sale

      32.69-acre site near future I-540 intersection.
      4800 Clifton Rd, Knightdale, NC 27545
      View Details
    • $2,400,000
      7,527 SF

      Knightdale Office Building Investment

      Thriving location, high-return potential.
      101 Forest Dr, Knightdale, NC 27545
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Versatile Space in Growing Knightdale

      Retail, office, or flex space with roll-up door.
      5007 Village Park Dr, Knightdale, NC 27545
      View Details
    • Contact for pricing

      Prime Retail Space Available

      Retail center with high visibility and diverse customer base.
      102 S 1St Ave, Knightdale, NC 27545
      View Details
    • Contact for pricing

      Knightdale Retail Pad Site

      0.56-acre pad site in front of Kohl's for ground lease.
      302 Hinton Oaks Blvd, Knightdale, NC 27545
      View Details
    • Contact for pricing

      Commercial Land in Growing Area

      Land in rapidly growing Eastern Wake County near established retailers.
      202 Hinton Oaks Blvd, Knightdale, NC 27545
      View Details
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    Knightdale, NC 27545-8506
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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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