Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Vacant Lot in Downtown Title is generated by Realmo AI

    116 E Virgil Street, Whiteville, NC 28472

    View on Map
    Claim this Listing
    Picture of Commercial land at 116 E Virgil Street, Whiteville, NC
    For Sale
    Under Contract
    Contact for pricing

    LAND - Whiteville, NC

    Lot size:
    0.30 Acres
    Added:
    Dec 30, 2021
    Days on Market:
    1604
    Last Refresh:
    May 22 at 2:06 pm

    Property Features for 116 E Virgil Street

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    RES
    Standard status
    Active Under Contract
    APN
    4536
    Lot size
    0.30 Acres

    Taxes and HOA fees

    Tax Year
    2021
    Tax Description
    PID: 4536 PIN: 0290.01-09-0192.000

    We can help!

    Listing Contact
    Eric D Hill
    Eric D Hill

    Listing agent Eric D Hill License #250127

    Listing office Atlantic Blue Coast Realty LLC PO Box 975, Whiteville, NC

    Listing date Dec 30, 2021

    MLS# 100306092 Listing URL

    Copyright © 2026 Hive MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Vacant lot ready for development.
    • Located in downtown Whiteville.
    • Convenient to shopping.
    • Convenient to dining.
    • Convenient to schools.
    • Convenient to parks.

    Overview

    This vacant lot is located at 116 E Virgil St in Whiteville, North Carolina. Situated in downtown Whiteville, the property is conveniently located near shopping, dining, schools, parks, churches, and banks. The lot size is approximately 0.3 acres, according to county records. The zoning is RES.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Whiteville
    County
    Columbus
    State
    North Carolina
    Longitude
    -78.701606
    Latitude
    34.324477

    Nearby Similar for Sale

    • $136,900
      700 SF

      Whiteville Office with Fenced Yard

      700 sq ft office near amenities, residential or business use.
      108 S Lee Street, Whiteville, NC 28472
      View Details
    • $255,000
      1,932 SF

      Whiteville Commercial Property For Sale

      Well-located commercial property ideal for professional uses.
      609 Jefferson Street, Whiteville, NC 28472
      View Details
    • $299,900

      Prime Corner Lot in Whiteville

      Large corner lot suitable for business in downtown Whiteville, NC.
      112 N Lee Street, Whiteville, NC 28472
      View Details
    • $199,000

      Commercial Land in Medical Area

      3.75 acres suitable for medical or professional office development.
      Near 659 Evergreen Street, Whiteville, NC 28472
      View Details
    • $60,000

      Buildable Lot Near Hospital

      Wooded lot near hospital, ideal for professional office development.
      615 Pecan Lane, Whiteville, NC 28472
      View Details
    • $60,000

      Commercial Land in Whiteville, NC

      0.67-acre wooded lot in a desirable commercial location.
      Near 615 Pecan Lane, Whiteville, NC 28472
      View Details
    • $325,000

      Commercial Land in Whiteville, NC

      Commercial lot suitable for various business ventures.
      S Madison Street, Whiteville, NC 28472
      View Details
    • $450,000

      Commercial Land on Highway 701

      Commercial property with frontage on Hwy 701 and Duval Street.
      Near 1240 S J K Powell Boulevard, Whiteville, NC 28472
      View Details
    • $34,000

      Vacant Lot in Whiteville, NC

      Vacant lot suitable for stick-built or modular homes.
      002224 Near 217 E Clay Street, Whiteville, NC 28472
      View Details
    • $1,066,000

      Approved Subdivision Land in Whiteville

      27-lot subdivision near Downtown Whiteville, easy access to highways.
      Near 158 Old Wilmington Road, Whiteville, NC 28472
      View Details
    • $550,000
      5,070 SF

      Established Restaurant on Madison Street

      Family-owned restaurant with high visibility in Whiteville, North Carolina.
      1405 S Madison Street, Whiteville, NC 28472
      View Details
    • $29,900

      Residential Lot in Mill Branch

      1.64+/- acre residential lot in Whiteville, NC.
      1834 Harrelsonville Road lot: 7, Whiteville, NC 28472
      View Details

    FAQs

    What type of property is this?
    Commercial land - Vacant land convenient to shopping, dining, schools and parks.
    Where is this commercial land located?
    The property is located at 116 E Virgil Street Whiteville, NC.
    What is the asking price?
    The asking price for this property is Off market.
    What are key features of this property?
    This property features: Vacant lot ready for development.; Located in downtown Whiteville.; Convenient to shopping.
    (910) 625-8199
    We can help!
    Listing Contact
    Eric D Hill
    Eric D Hill
    Real Estate License ID: 250127
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    116 E Virgil Street, Whiteville, NC 28472
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!