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    Highway Commercial Opportunity in Siler Title is generated by Realmo AI

    517 N 2nd Avenue, Siler City, NC 27344

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    For Sale
    $285,000

    COMMERCIAL - Siler City, NC

    Type:Office
    Property size:
    1,775 SF
    Lot size:
    0.28 Acres
    Price / SF:
    $160/SF
    Added:
    Mar 23, 2026
    Days on Market:
    55
    Last Refresh:
    May 16 at 12:06 am

    Property Features for 517 N 2nd Avenue

    General Information

    Property type
    Commercial Sale
    Property subtype
    Office
    Zoning
    H-CHighway Commercial Dis
    Parking
    15
    Accessibility
    Accessible Approach with Ramp
    Standard status
    Active
    APN
    0015322
    Size
    1,775 SF
    Lot size
    0.28 Acres

    Taxes and HOA fees

    Tax Year
    2026
    Tax Description
    103-1-1 Deed Book 1784 Page 173 (Tract 2) Plat Book 90 Page 334
    Tax Annual Amount
    3294

    Building Details

    Year built
    1998
    Floors in Building
    1
    Building materials
    Vinyl Siding

    We can help!

    Listing Contact
    Scott Harris

    Listing agent Scott Harris License #159569

    Listing office Harris Realty & Auction 1325 N Second Ave, Siler City, NC

    Listing date Mar 23, 2026

    MLS# 10155155

    Copyright © 2026 Doorify 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 highway commercial location in Siler City with strong road frontage and excellent visibility.
    • Two buildings: 1,775 sq ft modular building and 1,456 sq ft mobile home converted to office space.
    • Rental income potential from the mobile home office.
    • Versatile property suitable for professional, medical, retail, or service use.
    • Approximately 15 parking spaces.
    • Corner lot with accessible approach via ramp.

    Overview

    This commercial property in Siler City, NC, presents a highway commercial opportunity. The main building is a 1,775 sq ft modular structure originally designed as a chiropractic office. It features a reception area, multiple office spaces, and a half bath on the main level. The upper level includes an additional office, a full bathroom with shower, and a large bonus area suitable for office, meeting, or storage use. A secondary 1,456 sq ft mobile home, currently converted into office space, is located on the property and is producing rental income. The site includes approximately 15 parking spaces and sits on a corner lot with strong road frontage, providing access and exposure. The property offers possibilities for professional, medical, retail, or service use in a high-traffic location. The property is zoned H-CHighway Commercial Dis and sits on a 0.28-acre lot.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Lommel Chiropractic Alternative Medicine Practice Kenneth M. Lommel, ... Alternative Medicine Practice

    Suggested Use

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

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

    Similar Places Nearby

    • Tysor Veterinary Clinic — 1401 N 2nd Ave, Siler City, NC 27344
    • Chatham Veterinary Service — 1114 Greensboro Ave, Siler City, NC 27344

    Location Insight

    • Map
    • Local Demand
    City
    Siler City
    County
    Chatham
    State
    North Carolina
    Longitude
    -79.465525
    Latitude
    35.727962

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    FAQs

    What type of property is this?
    Medical Office Space - Versatile commercial property with income potential in high-traffic location.
    Where is this medical office space located?
    The property is located at 517 N 2nd Avenue Siler City, NC.
    What is the asking price?
    The asking price for this property is $285,000.
    What are key features of this property?
    This property features: Prime highway commercial location in Siler City with strong road frontage and excellent visibility.; Two buildings: **1,775 sq ft modular building** and 1,456 sq ft mobile home converted to office space.; Rental income potential from the mobile home office.
    (919) 498-4077
    We can help!
    Listing Contact
    Scott Harris
    Real Estate License ID: 159569
    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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