200 Rand Mill Road
About This Property
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Jul 23, 2026 | Price Decreased |
$159,900
↓ $5K
(3%) | |
| Price Decreased | |||
| Apr 21, 2026 | Price Decreased |
$164,900
↓ $100
(0.1%) | |
| Price Decreased | |||
| Aug 18, 2025 | Listed by Coldwell Banker HPW | $165,000 | |
| Listed by Coldwell Banker HPW | |||
| Mar 17, 2025 | Listed | $165,000 | |
| Listed | |||
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Prime Investment Opportunity! Seize the chance to invest in a 0.34-acre lot in the heart of Historic Downtown Garner's vibrant business district! Located at 200 Rand Mill Rd, this property offers unparalleled potential for investors looking to renovate or build in a thriving entertainment and cultural hub. Surrounded by restaurants, a bakery, coffee shops, an ice skating rink, and event venues, this site is perfectly positioned for commercial or mixed-use development in Garner's growing traditional business district.
As a potential Qualified Opportunity Zone investment, this property may qualify for significant tax advantages, including capital gains deferral and possible exclusion of appreciation if held for 10 years (consult a tax professional for eligibility). Just minutes from Hwy 70 and I-40, and only 15 minutes from downtown Raleigh, this lot combines small-town charm with big-city accessibility. Don't miss this rare opportunity to shape the future of Garner's dynamic downtown!
Contact us for more details and to explore this exceptional investment in a high-growth area. https://raleigh-wake.org/business-advantages/equitable-economic-development/opportunity-zones
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| Jan 2, 2025 | Sold | ||
| Sold | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017