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    Southern Pines Office Building For Sale Title is generated by Realmo AI

    285 W New York Avenue, Southern Pines, NC 28387

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    Claim this Listing
    For Sale
    Under Contract
    $1,150,000

    SINGLE_FAMILY - Southern Pines, NC

    Type:Office
    Property size:
    3,914 SF
    Lot size:
    0.34 Acres
    Price / SF:
    $293/SF
    Added:
    Jan 1, 2026
    Days on Market:
    141
    Last Refresh:
    May 22 at 6:06 am

    Property Features for 285 W New York Avenue

    General Information

    Property type
    Residential
    Property subtype
    Office
    Zoning
    CB
    Parking features
    Parking Lot
    Standard status
    Active Under Contract
    APN
    00040580
    Size
    3,914 SF
    Lot size
    0.34 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    BLK L 5 LOT 18-20
    Tax Annual Amount
    4415

    Utilities

    Utilities
    Water Available
    Sewer type
    Public Sewer
    Heating system
    Electric (Heating)
    Water source
    Public

    Building Details

    Year built
    1998
    Flooring type
    Carpet, Laminate, Tile - Ceramic
    Building materials
    Brick Veneer, Synthetic Stucco, Wood Frame
    Roof type
    Composition

    We can help!

    Listing Contact
    Elizabeth Giri

    Listing agent Elizabeth Giri License #206063

    Listing office Seagle & Associates 209 S Fuquay Avenue, Suite 115, Fuqualy-Varina, NC

    Listing date Jan 1, 2026

    MLS# 100553482

    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

    • Prime location in Southern Pines within walking distance to retail, restaurants, banks, and the post office.
    • Roof replaced in 2020.
    • Parking lot paved and relined in 2019.
    • High‑security room inside the building.
    • Recent building inspection with miscellaneous items completed.
    • Lease in place that the owner states can be amended.

    Overview

    Located in Southern Pines, this commercial property offers convenient access to retail establishments, restaurants, banks, the post office, and other amenities. The building features a high-security room. The roof was replaced in 2020, and the parking lot was paved and relined in 2019. Recent building inspections have been conducted, and miscellaneous items have been addressed. The property, situated on a 0.34-acre lot, encompasses a total area of 3,914 square feet. There is currently a lease in place that the owner states can be amended, which will be discussed further with serious buyers. The zoning is CB.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Far Ridgeline Engagements ... Consultant Far Ridgeline Engagements ... Consultant

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Southern Pines
    County
    Moore
    State
    North Carolina
    Longitude
    -79.394822
    Latitude
    35.175279

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    FAQs

    What type of property is this?
    Office building - Office building in Southern Pines, walking distance to amenities.
    Where is this office building located?
    The property is located at 285 W New York Avenue Southern Pines, NC.
    What is the asking price?
    The asking price for this property is $1,150,000.
    What are key features of this property?
    This property features: Prime location in Southern Pines within walking distance to retail, restaurants, banks, and the post office.; Roof replaced in 2020.; Parking lot paved and relined in 2019.
    (910) 315-2250
    We can help!
    Listing Contact
    Elizabeth Giri
    Real Estate License ID: 206063
    Learn More
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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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