709 Gannon AveZebulon, NC 27597

Property Details for 709 Gannon Ave

Year built

1991

Construction

METAL FRAME

Lot size

1.86 AC

Property size (Sq ft)

6,400 SF

Zone code

HC

Property type

Retail properties

Property subtype

Other automotive properties

APN

1795.16-84-0271 0178548

APU

1795168402710178548

Description

This exceptional 34.2-acre commercial land parcel presents a remarkable investment opportunity in the thriving Zebulon, North Carolina market. Strategically located adjacent to a Walmart Superstore, this property boasts over 1400 feet of road frontage on Gannon Avenue (NC Highway 97), providing excellent visibility and accessibility. Its convenient location offers easy access to Highway 264, placing it within a short distance of both the Zebulon Mudcats Stadium (approximately 1.5 miles) and a newly acquired Wake County School system site (approximately 1.3 miles). The property is zoned HC, allowing for a variety of commercial uses, and the seller is open to subdividing the land into parcels of at least 10 acres. This flexibility makes it ideal for a range of development projects, potentially including mixed-use developments. To facilitate a smooth transaction, a Buffer Determination letter from the state of North Carolina and a Phase 1 Environmental Site Assessment are readily available upon request. The asking price for this expansive and well-positioned property is $7,500,000. The property's APN is 2705774662. This is a rare opportunity to acquire a significant commercial land holding in a rapidly growing area with excellent infrastructure and strong retail presence. Don't miss this chance to secure a prime location for your next venture.

• CAP approach

  CAP return

  Valuation

  6%

  $2,280,443

  6.5%

  $2,105,024

  7%

  $1,954,665

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,269,428

  Geo Method

  $3,702,021

• Alternative Use

  Use

  Valuation

  Residential

  $1,775,667

  Hospitality

  $1,626,501

  Educational

  $1,353,230

  Medical

  $1,399,769

  Retail

  $2,105,024

Location Insight

City

Zebulon

County

Wake

State

North Carolina

Latitude

35.8205

Longitude

-78.3319

CBSA code

39580

CBSA name

RALEIGH-CARY, NC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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