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

    216 Russell Walker Avenue Randleman, NC 27317

    View on Map
    Picture of Industrial land at 216 Russell Walker Avenue, Randleman, NC
    For Sale
    $258,000

    Industrial - Randleman, NC

    Type:Industrial
    Lot size:
    6.80 Acres
    Added:
    Mar 25, 2026
    Days on Market:
    14
    Last Refresh:
    Apr 7 at 6:06 am

    Property Features for 216 Russell Walker Avenue

    General Information

    Property type
    Commercial Sale
    Property subtype
    Industrial
    Zoning
    I-1
    Exterior features
    Dead End, Partially Cleared
    Standard status
    Active
    Lot size
    6.80 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    H.R. Gallimore

    Listing agent H.R. Gallimore

    Listing office RE/MAX Central Realty 231 S. Fayetteville Street, Asheboro, NC

    Listing date Mar 25, 2026

    MLS# 1175642 Listing URL

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

    Overview

    Vacant Land with River Views

    This 6.8-acre vacant land is the site of the historic Worthville Mill, which burned in 2024 and has since been demolished. The property, zoned I-1, features road frontage on both sides of Russell Walker Avenue and offers views of the Deep River. It is located in Randleman, North Carolina, in Randolph County.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Industrial land

    Suggested Use

    Spa & Massage Center Hair Salon Nail Salon Grocery & Convenience Store Nursing Home Nursing Home Pet Grooming Service

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

    Location Insight

    • Map
    • Local Demand
    City
    Randleman
    County
    Randolph
    State
    North Carolina
    Longitude
    -79.77779
    Latitude
    35.801496

    Nearby Similar for Sale

    • $239,500

      Cleared Land with Development Potential

      12.6 acres with road frontage near Level Cross bypass.
      0 HOLDER INMAN Road, Randleman, NC 27317
      View Details
    • $395,000

      Downtown Randleman Industrial/Retail Space

      Industrial/retail space in downtown Randleman with hardwood floors.
      116 W Academy Street, Randleman, NC 27317
      View Details
    • $39,900

      Residential Lot in Randleman, NC

      1.04-acre wooded lot ready for new home construction.
      0 Idlewild Drive Extension, Randleman, NC 27317
      View Details
    • $795,000

      Randleman Salvage Yard Opportunity

      7-acre salvage yard with buildings, easy highway access.
      9316 US Highway 220 Bus N, Randleman, NC 27317
      View Details
    • $20,000

      Serene Wooded Lot in Cana

      0.5-acre lot near Hwy 52, I77, Mount Airy.
      24 Copperhead Rd lot: 300 And 302, Cana, NC 27317
      View Details
    • $395,000

      Randleman, NC Development Land

      Over 14 acres near I73/74 ready for development.
      000 Pineview Street, Randleman, NC 27317
      View Details
    • $8,500,000

      Randleman Acreage Near Toyota Facility

      284-acre tract near major economic drivers and industry.
      9135 US Highway 220 N, Randleman, NC 27317
      View Details
    • $678,000

      Sprawling Land Parcel Near Lake

      Approximately 17-acre land parcel with extensive road frontage near lake.
      00 Little Fox Road, Randleman, NC 27317
      View Details
    • $249,900
      4,000 SF

      Versatile Building on Large Lot

      1.57 acre lot with 4000sf building, rezoning potential.
      1631 Worthville Road, Randleman, NC 27317
      View Details
    • $149,999

      Cleared Industrial Building Lot

      Cleared industrial lot with utilities available in Randleman, NC.
      Lot 3 Southern Drive, Randleman, NC 27317
      View Details
    • $4,215,000
      85,680 SF

      Randleman Industrial Facility For Sale

      85,680 SF industrial facility near I-74 and I-85.
      4524 Tigers Den Rd, Randleman, NC 27317
      View Details
    • $598,000

      Sprawling Land Near Rendleman Lake

      Approximately 17-acre corner parcel near Rendleman Lake.
      00 Tigers Den Road, Randleman, NC 27317
      View Details

    FAQs

    What type of property is this?
    Industrial land - Vacant land with road frontage and Deep River views.
    Where is this industrial land located?
    The property is located at 216 Russell Walker Avenue Randleman, NC.
    What is the asking price?
    The asking price for this property is $258,000.
    What are key features of this property?
    This property features: Road frontage on both sides of Russell Walker Avenue.; Vacant land ready for development.; Beautiful views of the Deep River.
    (336) 626-5560
    We can help!
    Listing Contact
    H.R. Gallimore
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!