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    Downtown Brick Office Building Title is generated by Realmo AI

    212 W Water Street, Plymouth, NC 27962

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    For Lease
    $2,000/Mo $7 SF/Yr (calc)

    COMMERCIAL - Plymouth, NC

    Property size:
    3,084 SF
    Lot size:
    0.36 Acres
    Added:
    Jun 4, 2026
    Days on Market:
    2
    Last Refresh:
    Jun 5 at 4:06 pm

    Property Features for 212 W Water Street

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Zoning
    Central Busines
    Standard status
    Active
    APN
    6767.07-57-6506
    Size
    3,084 SF
    Lot size
    0.36 Acres

    Taxes and HOA fees

    Tax Year
    2026
    Tax Description
    Water & Monroe
    Expense value
    2000
    Expense
    SecurityDeposit
    Expense freq.
    One Time

    Utilities

    Heating system
    Heat Pump (Heating), Natural Gas
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1990
    Flooring type
    Carpet
    Building materials
    Shake Siding, Brick, Wood Frame
    Roof type
    Composition

    We can help!

    Listing Contact
    Alex Rich
    Alex Rich

    Listing agent Alex Rich License #261159

    Listing office Rich Company 204 S Poindexter St., Elizabeth City, NC

    Listing date Jun 4, 2026

    MLS# 100579189

    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

    • For lease or sale: lease is $2,000/month plus taxes, insurance, maintenance, and utilities; sale price $220,000
    • Two‑story commercial building with +/- 1,731 SF first floor and +/- 1,007 SF upstairs
    • Large lot: +/-0.365 acres (221' by 70') on Water Street in downtown Plymouth
    • Downtown Plymouth views of the Roanoke River and historic Roanoke River Lighthouse, with many very large windows
    • Construction includes brick, cedar shake siding, and wood frame; roof is composition; central air and heat pump with natural gas
    • Heating/cooling services include central air plus heat pump (heating) and natural gas; water source is public

    Overview

    Charming two-story brick and cedar shake commercial office building offers substantial windowed frontage and a flexible interior layout. The elevated structure sits on a high crawl space and is set on a large lot measuring approximately 221 by 70 feet (about 0.365 acres). The first floor is approximately 1,731 square feet and includes a 9 by 9 foyer, an 18 by 9 office facing the river, and a broadly open area with the exception of the staircase and a restroom under the stairs. The second floor provides approximately 1,007 square feet with a large open 41 by 30 room plus a side bar sink and a small second restroom.

    Located in downtown Plymouth on W Water Street, the building includes a direct view of the Roanoke River and the historic Roanoke River Lighthouse. The property is described as being in an Opportunity Zone, with the “Central Busines” zoning noted in the listing.

    For tenants, the configuration supports a mix of private office space and open-plan work areas across two levels, along with restroom facilities on both floors. For buyers, the offering is presented for lease or sale, with the lease noted at $2,000 per month plus taxes, insurance, maintenance, and utilities, and the property also listed for sale at $220,000.
    Property Profile Location Intelligence

    Current Use by Public Records

    Office buildings

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Plymouth
    County
    Washington
    State
    North Carolina
    Longitude
    -76.753391
    Latitude
    35.865938

    Nearby Similar for Lease

    • $1.84 SF/Yr
      6,000 SF

      Retail Center with Available Spaces

      Retail shopping center with great access and visibility.
      336-368 US Highway 64 E | Plymouth, NC 27962
      View Details
    • Contact for pricing
      3,000 SF

      Retail Space in Plymouth, NC

      3,000 SF retail space available for rent.
      820 US-64, Plymouth, NC
      View Details
    • $8 SF/Yr
      6,000 SF

      Retail Spaces in Plymouth Center

      Retail spaces available in main Plymouth shopping center.
      336-368 US Highway 64 E, Plymouth, NC 27962
      View Details

    FAQs

    What type of property is this?
    Office building - Two-story office building with large windows and sweeping views suited to professional and administrative uses.
    Where is this office building located?
    The property is located at 212 W Water Street Plymouth, NC.
    What is the lease rate?
    The lease rate is $2,000 /Mo.
    What are key features of this property?
    This property features: For lease or sale: lease is $2,000/month plus taxes, insurance, maintenance, and utilities; sale price $220,000; Two‑story commercial building with +/- 1,731 SF first floor and +/- 1,007 SF upstairs; Large lot: +/-0.365 acres (221' by 70') on Water Street in downtown Plymouth
    (252) 256-1279
    We can help!
    Listing Contact
    Alex Rich
    Alex Rich
    Real Estate License ID: 261159
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    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
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