Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Property profile & analytics

    401 Myrtle Rd Selma, NC 27576

    • Commercial real estate
    • 8.32 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 401 Myrtle Rd

    Lot size
    8.32 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional 8.32-acre commercial property in Selma, NC, presents a unique investment opportunity. Strategically located off I-95 in Johnston County, a rapidly expanding area, this land is zoned Interstate Business (IB), maximizing its potential for diverse commercial ventures. The property's prime location offers unparalleled accessibility and visibility, making it ideal for a wide range of businesses. Adding to its appeal, this land is situated within an Opportunity Zone, providing significant tax advantages for qualified investors. Further enhancing the property's value is the availability of an adjacent 70-acre tract (MLS # 10036392), offering potential for expansion or synergistic development. The proximity to the railroad adds another layer of logistical advantage for businesses requiring efficient freight transport. This is a rare chance to acquire a substantial parcel of commercial land in a high-growth area with exceptional connectivity and significant development potential. The zoning and location combine to create a compelling investment opportunity for discerning buyers seeking a strategic foothold in a thriving market. Don't miss this chance to secure this valuable asset.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Selma
    County
    Johnston
    State
    North Carolina
    Longitude
    -78.2662
    Latitude
    35.5327

    Comparable in this City

    • Value Estimation by Request
      15,400 SF

      13 District Way

      Retail properties • 15,400 SF
      13 District Way, Selma, NC 27576
      View Details
    • Value Estimation
      $265,000
      1,071 SF

      6366 Nc Hwy 96th N

      COMMERCIAL (GENERAL) • 1,071 SF
      6366 Nc Hwy 96th N, Selma, NC 27576-8792
      View Details
    • Value Estimation
      $170,000
      1,525 SF

      107 Anderson St

      COMMERCIAL (GENERAL) • 1,525 SF
      107 Anderson St, Selma, NC 27576-2565
      View Details
    • Value Estimation
      $295,000
      3,072 SF

      104 Anderson St

      COMMERCIAL (GENERAL) • 3,072 SF
      104 Anderson St, Selma, NC 27576-2827
      View Details
    • Value Estimation
      $110,000
      1,755 SF

      3691 Nc Hwy 39

      COMMERCIAL (GENERAL) • 1,755 SF
      3691 Nc Hwy 39, Selma, NC 27576-8088
      View Details
    • Value Estimation
      $170,000
      1,725 SF

      126 Raiford St

      COMMERCIAL (GENERAL) • 1,725 SF
      126 Raiford St, Selma, NC 27576-2867
      View Details

    Similar Nearby for Sale

    • $1,400,000
      5.00 Acres

      Selma Commercial Land Investment

      High-traffic location, prime development.
      433 Us Highway 70, Selma, NC 27576
      View Details
    • $1,749,900
      5.17 Acres

      Selma, NC Commercial Land

      5.17 Acres, I-95/US 70 Exit 97
      1671 Outlet Center Dr, Selma, NC 27576
      View Details
    • $900,000
      6.61 Acres

      321 Batten Rd, Selma, NC 27576

      Commercial real estate • 6.61 Acres
      321 Batten Rd, Selma, NC 27576
      View Details
    • $1,300,000
      20 SF

      Selma Industrial Land For Sale

      20 acres of industrial land with highway visibility.
      W Oak St, Selma, NC 27576
      View Details
    • $1,080,250
      Pending

      43 Acres on Campground Road

      43-acre land parcel in Selma, North Carolina.
      Campground Rd, Selma, NC 27576
      View Details
    • $1,394,100
      Pending

      Selma, NC Development Land

      46.4-acre development tract in Selma, North Carolina.
      Atkinson Mill Rd, Selma, NC 27576
      View Details

    Similar Nearby for Lease

    • $3,400 /Mo
      2,504 SF

      Downtown Selma Retail Space Available

      Retail space in downtown Selma, suitable for various businesses.
      109 S Raiford St, Selma, NC 27576
      View Details
    • Contact for pricing

      Land Near I-95 and US-70

      Land with excellent visibility and access in growing commercial corridor.
      600-616 Ricks Rd, Selma, NC 27576
      View Details
    • Contact for pricing
      15,400 SF

      Flowers Crossroads Retail Space

      Selma, NC: Prime Retail Opportunity
      13 District Way, Selma, NC 27576
      View Details
    • $84 SF/Yr
      23,685 SF

      Selma Retail Space: I-95 Corridor

      Historic Selma retail, restaurant, showroom spaces available.
      112 Pollock St, Selma, NC 27576
      View Details
    • Contact for pricing
      609,540 SF

      I-42 Commerce Center: Selma, NC

      Class A Warehouse Space Available
      Interchange Baugh Rd At The Us 70 & Buffalo Rd, Selma, NC 27576
      View Details
    • Contact for pricing

      Retail Space in Flowers Crossroads

      Retail space available in mixed-use development, delivery Q4 2024.
      13 District Way, Clayton, NC 27576
      View Details
    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.
    401 Myrtle Rd
    Selma, NC 27576
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.