1930 Salem StApex, NC 27523

Property Details for 1930 Salem St

Year built

1986

Construction

FRAME

Lot size

7.00 AC

Property size (Sq ft)

2,513 SF

Zone code

LI

Property type

Investment properties

Property subtype

Live-work space

APN

0742.08-78-8809 0138783

APU

742087888090138783

Description

This exceptional 7-acre property in Apex, North Carolina, presents a unique investment opportunity. Currently featuring a fully leased building, the site boasts an approved site plan from the Town of Apex for six additional buildings, totaling 61,250 square feet of leasable space. The approved plan includes 200 parking spaces, 50 of which are covered. All buildings are designed for a two-story configuration with convenient elevator access. The property is zoned for Light Industrial use (APN: 0742788809) and offers a flexible space suitable for both traditional office and warehouse tenants. The entire 61,250 square feet is currently vacant and ready for immediate occupancy. Located at 1930 N Salem St, Apex, NC 27523, this prime location offers easy access to historic downtown Apex, Cary, downtown Raleigh, and RDU International Airport. This makes it an ideal location for businesses seeking a blend of accessibility and a thriving community. The property's size and zoning provide significant potential for future development and expansion within one of North Carolina's fastest-growing towns. This is a rare chance to acquire a substantial, versatile property in a high-demand area.

• CAP approach

  CAP return

  Valuation

  6%

  $650,378

  6.5%

  $600,349

  7%

  $557,467

• Comparable approach

  Method

  Valuation

  Relative Method

  $574,246

  Geo Method

  $576,834

• Alternative Use

  Use

  Valuation

  Residential

  $744,433

  Hospitality

  $681,897

  Educational

  $567,330

  Medical

  $586,841

  Retail

  $882,513

Location Insight

City

Apex

County

Wake

State

North Carolina

Latitude

35.7525

Longitude

-78.8389

CBSA code

39580

CBSA name

RALEIGH-CARY, NC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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