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    Freestanding Brick Office Building Title is generated by Realmo AI

    103 W Hill Street, Warsaw, NC 28398

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    For Sale
    $350,000

    A CB-zoned freestanding brick office building with ample parking, drive-through access, and high visibility in Warsaw.

    Type:Office
    Property size:
    3,842 SF
    Lot size:
    0.83 Acres
    Price / SF:
    $91/SF
    Added:
    Jun 2, 2026
    Days on Market:
    2
    Last Refresh:
    Jun 3 at 3:00 am

    Property Features for 103 W Hill Street

    General Information

    Standard status
    Active
    Size
    3,842 SF
    Lot size
    0.83 Acres
    Property subtype
    Office

    We can help!

    Listing Contact
    Will Sherrod, CCIM
    Will Sherrod, CCIM

    Listing agent Will Sherrod, CCIM License #79410

    Listing office NAI | Charleston

    Listing date Jun 2, 2026

    Source Naicharleston

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of NAI | Charleston

    HighLights

    • ±3,842 SF former BB&T freestanding brick building on roughly 0.83 acres across two parcels (±0.62 and ±0.21 acres)
    • Zoned CB – Central Business
    • Ample parking plus drive‑thru access
    • Close proximity to I‑40, linking Raleigh to Wilmington
    • Located in Federal Opportunity Zone districts with potential tax deferral for capital gains and options for reinvestment benefits
    • Includes proximity to attorney offices, financial service groups, restaurants, and retail in the immediate area

    Overview

    The former BB&T free-standing brick building offers approximately 3,842 square feet across two parcels totaling roughly 0.83 acres. The property is positioned as a stand-alone office option with a drive-through feature, ample on-site parking, and street-level presence suited to businesses that benefit from direct customer access.

    Situated in the heart of Warsaw, the location is in close proximity to I-40, the main interstate connecting Raleigh to Wilmington. This visibility supports the surrounding mix of small attorney offices, financial service groups, restaurants, and retail. The property also falls within Federal Opportunity Zone districts, offering potential tax deferral benefits for capital gains and eligibility for tax considerations tied to reinvestment in the Opportunity Zone.

    From an owner-user or investor perspective, the CB - Central Business zoning supports a range of commercial uses, and the existing drive-through and parking configuration can help reduce friction for tenants seeking convenient access. The freestanding brick format and central setting make it a practical candidate for an office conversion, a multi-tenant strategy, or other central business applications where visibility and customer-friendly access matter.
    Location Intelligence

    Current Use by Public Records

    Office buildings

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Warsaw
    County
    Duplin
    State
    North Carolina
    Longitude
    -78.0925153
    Latitude
    35.0014391

    FAQs

    What type of property is this?
    Office building - A CB-zoned freestanding brick office building with ample parking, drive-through access, and high visibility in Warsaw.
    Where is this office building located?
    The property is located at 103 W Hill Street Warsaw, NC.
    What is the asking price?
    The asking price for this property is $350,000.
    What are key features of this property?
    This property features: ±3,842 SF former BB&T freestanding brick building on roughly 0.83 acres across two parcels (±0.62 and ±0.21 acres); Zoned CB – Central Business; Ample parking plus drive‑thru access
    (843) 518-5387
    We can help!
    Listing Contact
    Will Sherrod, CCIM
    Will Sherrod, CCIM
    Real Estate License ID: 79410
    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.

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