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    Sanford, NC Development Opportunity Title is generated by Realmo AI

    Tramway Road, Sanford, NC 27330

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    Claim this Listing
    For Sale
    $550,000

    COMMERCIAL - Sanford, NC

    Lot size:
    5.23 Acres
    Added:
    Dec 18, 2025
    Days on Market:
    168
    Last Refresh:
    Jun 4 at 11:06 am

    Property Features for Tramway Road

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Vegetation
    Wooded
    Exterior features
    CornerLot
    Standard status
    Active
    APN
    9641-87-0255-00
    Lot size
    5.23 Acres

    Taxes and HOA fees

    Tax Description
    TRACT A PC 8/41BMB 17/73

    Utilities

    Sewer type
    Public Sewer
    Water source
    Public

    We can help!

    Listing Contact
    KRISTEN ROGERS
    KRISTEN ROGERS

    Listing agent KRISTEN ROGERS License #289101

    Listing office SMITH GROUP REALTY LLC 131 CHARLOTTE AVENUE SUITE 101, Sanford, NC

    Listing date Dec 18, 2025

    MLS# 754709 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.

    HighLights

    • Prime 5.23 acre corner lot with high visibility on Tramway Road and W Courtland Avenue.
    • Mixed land‑use zoning allows for both commercial and residential development.
    • Located in a rapidly developing corridor connecting Tramway and Jonesboro.
    • Public water and sewer are available.
    • Designated as Neighborhood Center per Plan SanLee, encouraging mixed‑use development.
    • Re‑zoning to all commercial or all residential is an option.

    Overview

    This 5.23-acre parcel presents an exceptional development opportunity. It is located on a high-visibility corner of Tramway Road and W Courtland Avenue, within city limits, in a rapidly developing corridor connecting Tramway and Jonesboro. The area is experiencing strong growth, with new businesses and residential developments underway. The property features unique mixed land-use zoning allowing for both commercial and residential development, making it ideal for a wide range of investment or end-user possibilities. Public water and sewer are available. According to Plan SanLee, the County's adopted long-range land use plan, the property is designated as Neighborhood Center, a classification that encourages a blend of uses including residential such as townhomes, apartments, and mixed-use buildings, and commercial such as retail, personal services, and office-type uses. Re-zoning to all commercial or all residential is an option per Lee County Planning and Zoning. It is located in Sanford, North Carolina.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Sanford
    County
    Lee
    State
    North Carolina
    Longitude
    -79.173687
    Latitude
    35.445167

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    FAQs

    What type of property is this?
    Commercial land - 5.23 acre parcel with mixed-use zoning in growing corridor.
    Where is this commercial land located?
    The property is located at Tramway Road Sanford, NC.
    What is the asking price?
    The asking price for this property is $550,000.
    What are key features of this property?
    This property features: **Prime 5.23 acre corner lot** with high visibility on Tramway Road and W Courtland Avenue.; Mixed land‑use zoning allows for both commercial and residential development.; Located in a rapidly developing corridor connecting Tramway and Jonesboro.
    (704) 467-0866
    We can help!
    Listing Contact
    KRISTEN ROGERS
    KRISTEN ROGERS
    Real Estate License ID: 289101
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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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