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    Nc 42 Garner, NC 27529

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    Property profile & analytics

    Nc 42 Garner, NC 27529

    View on Map
    • Office buildings
    • 2,791 SF
    • 0.31 lot acres
    Off-Market
    Last Sale Feb 16, 2024
    $535,000
    Property ID
    US53-1179991
    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
    $535,000
    Show details
    Cap Rate Potential
    8.5%
    Office buildings
    Location Intelligence

    Current Use by Public Records

    • Isalis / (Bike/Boat/Book/etc) Store
    • Party City / Party Supply Store / (Bike/Boat/Book/etc) Store
    • Skunk Funk / Big Box & Wholesale Store
    • Carl's Trading Co / Hat Shop
    • Bushka's Kitchen LLC / (Bike/Boat/Book/etc) Store

    Property Details for Nc 42

    Year built
    1997
    Lot size
    0.31 lot acres
    Property size
    2,791 SF
    Zone code
    OFF
    Property type
    Office buildings
    APN
    05E01007O
    APU
    05E01007O

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $535,000
      ML approach
      $535,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $760,000
      6.5%
      $705,000
      7%
      $655,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $351,000
      Market price range: $251k - $664k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $490,000
      Current use
      RETAIL STORES
      $445,000
      Change: -9% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $425,000
      Change: -14% Conversion: Difficult
      WAREHOUSE, STORAGE
      $415,000
      Change: -15% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $410,000
      Change: -17% Conversion: Difficult
      MEDICAL BUILDING
      $405,000
      Change: -17% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Garner
    County
    Johnston
    State
    North Carolina
    Longitude
    -78.4726
    Latitude
    35.6419
    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
    2024
    $4,020
    $84,400
    $220,170
    $304,570
    -
    $84,400
    $220,170
    $304,570

    Comparable in this City

    • Value Estimation
      $2,570,000
      18,036 SF

      800 Benson Rd

      OFFICE BUILDING • 18,036 SF
      800 Benson Rd, Garner, NC 27529-4205
      View Details
    • Value Estimation
      $6,915,000
      35,752 SF

      700 Waterfield Rdg Pl

      OFFICE BUILDING • 35,752 SF
      700 Waterfield Rdg Pl, Garner, NC 27529-3365
      View Details
    • Value Estimation
      $2,040,000
      14,960 SF

      200 New Fidelity Ct

      OFFICE BUILDING • 14,960 SF
      200 New Fidelity Ct, Garner, NC 27529-2896
      View Details
    • Value Estimation by Request
      6,395 SF

      5160 Nc Hwy 42nd W

      OFFICE BUILDING • 6,395 SF
      5160 Nc Hwy 42nd W, Garner, NC 27529-8417
      View Details
    • Value Estimation
      $2,625,000
      23,328 SF

      1027 Us 70th W Hwy

      OFFICE BUILDING • 23,328 SF
      1027 Us 70th W Hwy, Garner, NC 27529-2501
      View Details
    • Value Estimation
      $675,000
      4,344 SF

      1004 Vandora Spgs Rd

      OFFICE BUILDING • 4,344 SF
      1004 Vandora Spgs Rd, Garner, NC 27529-3546
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Retail Site at NC HWY 42

      High visibility retail site in high growth Johnston County area.
      42 & Old Drugstore Rd, Garner, NC 27529
      View Details
    • Contact for pricing
      12,500 SF

      Flex Space with Conditioned Warehouse

      Flex space featuring office and conditioned warehouse areas.
      5305 Raynor Rd, Garner, NC 27529
      View Details
    • Contact for pricing
      6,000 SF

      6,000 SF Flex Building

      Flex building with conditioned warehouse and office space for sale.
      540 Dynamic Dr, Garner, NC 27529
      View Details
    • $1,900,000
      9,479 SF

      Office/Retail Condo in Prime Location

      Office/retail condo in a rapidly developing, highly visible area.
      141 Technology Dr, Garner, NC 27529
      View Details
    • Contact for pricing
      7,631 SF

      Prime Commercial Property in Garner

      1.67 acres in Garner's business district, ready for redevelopment.
      200 Vandora Springs Rd, Garner, NC 27529
      View Details
    • Contact for pricing
      9,479 SF

      Office/Retail Condo in Developing Area

      Office/retail condo in rapidly developing area near I-40.
      141 Technology Dr, Garner, NC 27529
      View Details

    Similar Nearby for Lease

    • $16,800 /Mo

      Landmark Building Office and Event

      Well-maintained office building with suites and event space available.
      12450 Cleveland Rd, Garner, NC 27529
      View Details
    • $45 SF/Yr
      31,720 SF

      Medical Office Space For Lease

      Future medical office space in prime Garner location.
      803 Morris Dr, Garner, NC 27529
      View Details
    • Contact for pricing

      Medical Office Development Opportunity

      1.01-acre site ideal for medical office development in Garner, NC.
      225 Glen Rd, Garner, NC 27529
      View Details
    • $15 SF/Yr

      Functional Flex Building in Garner

      Flex building with office, warehouse, and outside storage space.
      1455 Mechanical Blvd, Garner, NC 27529
      View Details
    • $1,000 /Mo

      Office Space Near Highway 70

      Office space with excellent visibility near shopping and dining.
      1002 Vandora Springs Rd, Garner, NC 27529
      View Details
    • $25 SF/Yr
      1,094 SF

      Garner Retail Space - Highway 70

      High-visibility retail space, 1,094 sq ft.
      1330 5Th Ave, Garner, NC 27529
      View Details
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    Garner, NC 27529
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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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