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    Property profile & analytics

    877 Gannon Ave Zebulon, NC 27597-9314

    • Retail space
    • 30,800 SF
    • 3.79 lot acres
    OFF-MARKET
    Last Sale
    Oct 17, 2022
    $8,800,000
    Value Estimations
    $9,160,000
    Show details
    Cap Rate Potential
    4.6%
    Retail space
    Location Intelligence
    Property ID
    US53-2101842
    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

    • Dr. Michael Watson / Dental Office
    • Amy R. Kuchenreuther, DDS / Dental Office
    • Christopher Clark / Dental Office
    • Shoe Show / Clothing & Fashion Store / (Bike/Boat/Book/etc) Store
    • Stylez For You / Clothing Store

    Property Details for 877 Gannon Ave

    Year built
    2007
    Construction
    CONCRETE BLOCKS
    Lot size
    3.79 lot acres
    Property size
    30,800 SF
    Zone code
    HC
    Property type
    Retail space
    APN
    2705.08-97-2811 0357253
    APU
    2705089728110357253

    Description

    This exceptional retail property, located at 877 E Gannon Ave in Zebulon, North Carolina (zip code 27597), offers a prime opportunity for businesses seeking a vibrant location in Wake County. The property, known as Zebulon Crossings, is a multi-tenant commercial building with a total of 4,200 square feet. Currently, there is 1,400 square feet of retail space immediately available for lease. This presents a fantastic chance to establish or expand your business in a thriving area. The property's convenient location provides excellent visibility and accessibility for customers. The building's design is well-suited for a variety of retail uses, offering ample space for display, inventory, and customer interaction. The 1,400 square foot vacant space is ready for immediate occupancy, allowing for a quick and efficient start to your business operations. This is an exceptional opportunity to secure a prominent retail presence in a growing community. Contact us today to schedule a viewing and explore the possibilities of establishing your business at this desirable location in Zebulon, NC. The property is classified as retail commercial space.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $12,005,000
      ML approach
      $11,340,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $9,110,000
      6.5%
      $8,410,000
      7%
      $7,805,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $5,593,000
      Market price range: $2.32M - $5.59M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $9,745,000
      Current use
      AUTO REPAIR, GARAGE
      $10,640,000
      Change: +9% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $10,245,000
      Change: +5% Conversion: Easy
      MEDICAL BUILDING
      $10,010,000
      Change: +3% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Zebulon
    County
    Wake
    State
    North Carolina
    Longitude
    -78.2942
    Latitude
    35.8302
    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
    $64,432
    $1,650,920
    $3,578,912
    $5,229,832
    -
    $1,650,920
    $3,578,912
    $5,229,832

    Comparable in this City

    • Value Estimation by Request
      2,160 SF

      109 Horton St

      RETAIL STORES (PERSONAL SERVICES) • 2,160 SF
      109 Horton St, Zebulon, NC 27597-2819
      View Details
    • Value Estimation
      $3,930,000
      15,674 SF

      1501 Nc 39th Hwy

      RETAIL STORES (PERSONAL SERVICES) • 15,674 SF
      1501 Nc 39th Hwy, Zebulon, NC 27597-6987
      View Details
    • Value Estimation by Request
      3,200 SF

      836 Pne Rdg Rd

      RETAIL STORES (PERSONAL SERVICES) • 3,200 SF
      836 Pne Rdg Rd, Zebulon, NC 27597-6105
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    • Value Estimation by Request
      6,110 SF

      202 Arendell Ave

      RETAIL STORES (PERSONAL SERVICES) • 6,110 SF
      202 Arendell Ave, Zebulon, NC 27597-2604
      View Details
    • Value Estimation
      $575,000
      3,400 SF

      225 Arendell Ave

      RETAIL STORES (PERSONAL SERVICES) • 3,400 SF
      225 Arendell Ave, Zebulon, NC 27597-2603
      View Details
    • Value Estimation
      $960,000
      5,828 SF

      117 Arendell Ave

      RETAIL STORES (PERSONAL SERVICES) • 5,828 SF
      117 Arendell Ave, Zebulon, NC 27597-2601
      View Details

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    Similar Nearby for Lease

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      Prime Zebulon Warehouse Space

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    877 Gannon Ave
    Zebulon, NC 27597-9314
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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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