Add Listing
    For Sale
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    137 New Street Spring Lake, NC 28390

    View on Map
    Claim this Listing
    For Sale
    $75,000

    COMMERCIAL - Spring Lake, NC

    Lot size:
    0.53 Acres
    Added:
    Dec 6, 2023
    Days on Market:
    877
    Last Refresh:
    May 1 at 4:06 pm

    Property Features for 137 New Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    APN
    0502-50-8694.000
    Lot size
    0.53 Acres

    Taxes and HOA fees

    Tax Description
    J F WILLIAMS PROP LO14 & 15 SE01 PL0013-0080

    We can help!

    Listing Contact
    FRANKLIN JOHNSON

    Listing agent FRANKLIN JOHNSON License #146789

    Listing office FRANKLIN JOHNSON COMMERCIAL REAL ESTATE 2547 RAVENHILL DRIVE SUITE 100, Fayetteville, NC

    Listing date Dec 6, 2023

    MLS# 716820 Listing URL

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

    Overview

    Commercial Land in Spring Lake

    This 0.53-acre commercial land is located in Spring Lake, North Carolina. The property is zoned R6 and has the potential to be rezoned for commercial use. It is situated off the signalized intersection of North Bragg Boulevard and New Street.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Spring Lake
    County
    Cumberland
    State
    North Carolina
    Longitude
    -78.980287
    Latitude
    35.180574

    Nearby Similar for Sale

    • $430,000

      Six-Unit Multifamily Investment Opportunity

      Multifamily asset in a growing Spring Lake corridor.
      1603 Easterling Drive, Spring Lake, NC 28390
      View Details
    • $359,000

      Four Single-Family Homes on One Parcel

      Four-unit multifamily property on 4.8 acres near Fort Liberty.
      560 W Manchester Road, Spring Lake, NC 28390
      View Details
    • $585,000
      4,680 SF

      Retail & Garage/Warehouse on Highway

      Retail and garage/warehouse buildings on 0.8 acres with highway frontage.
      1218 N Bragg Boulevard, Spring Lake, NC 28390
      View Details
    • $268,500
      1,860 SF

      Turnkey Medical Office in Spring Lake

      General practice medical office for sale in Spring Lake, NC.
      224 N Main Street, Spring Lake, NC 28390
      View Details
    • $14,000

      Spring Lake Residential Lot

      Residential lot in Spring Lake, close to amenities.
      1669 Rainey Drive lot: 10, Spring Lake, NC 28390
      View Details
    • $199,000

      Spring Lake Land For Sale

      3.4 acres in Spring Lake, NC, seller financing available.
      105 Micaville Circle, Spring Lake, NC 28390
      View Details
    • $995,000
      2,600 SF

      Former Circle K Redevelopment Opportunity

      1.58-acre parcel suitable for redevelopment or reuse.
      1886 N Bragg Blvd, Spring Lake, NC 28390
      View Details
    • $34,000

      Land Parcel in Spring Lake

      0.28-acre parcel with frontage in Spring Lake, NC.
      4026 Nursery Road, Spring Lake, NC 28390
      View Details
    • $690,000

      High-Visibility Commercial Lot on N. Bragg

      1.34-acre commercial lot on N. Bragg Boulevard in Spring Lake.
      1419 N Bragg Boulevard, Spring Lake, NC 28390
      View Details
    • $72,900

      Residential Lot in Anderson Creek

      Buildable lot in established Spring Lake community with amenities.
      34 Old Pine Court, Spring Lake, NC 28390
      View Details
    • $85,000

      Ready-to-Build Lot with Foundation

      One-acre lot with foundation and approved plans in Spring Lake.
      7986 Overhills Road, Spring Lake, NC 28390
      View Details
    • $52,500

      Residential Land in Spring Lake

      Residential land ready for your dream home in Spring Lake.
      Lanier Drive lot: 3, Spring Lake, NC 28390
      View Details

    FAQs

    What type of property is this?
    Commercial land - Commercial land with potential for rezoning in Spring Lake, NC.
    Where is this commercial land located?
    The property is located at 137 New Street Spring Lake, NC.
    What is the asking price?
    The asking price for this property is $75,000.
    What are key features of this property?
    This property features: Zoned R6 with potential to rezone commercial; Located off signalized intersection of N Bragg Blvd and New Street
    (910) 818-8400
    We can help!
    Listing Contact
    FRANKLIN JOHNSON
    Real Estate License ID: 146789
    Learn More
    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

    137 New Street, Spring Lake, NC 28390

    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!