Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    2401 Erwin Rd Dunn, NC 28334

    Sponsored
    For Sale
    $395,000

    Large Service Garage & Shop - $395K

    Property size:
    4,560 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    358
    This exceptional commercial property at 2401 Erwin Road, Dunn, NC, presents a remarkable opportunity. The 4,560 square foot building sits on a 0.4-acre lot and is ideally suited for automotive service or similar businesses. The structure boasts multiple roll-up doors for easy access and vehicle maneuvering: two 12x12 doors, two 10x10 doors, and one 9x9 door. A key feature is the certified paint room, complete with ventilation and exhaust systems, perfect for a paint and body shop. The property also includes a frame machine, two 7,000 lb. 2-pole hydraulic car lifts, and a stationary floor lift, significantly enhancing operational efficiency. Additional amenities include a comfortable office and reception area, two half bathrooms, and a substantial 25x25 covered shelter. The sale includes a variety of valuable personal property items, such as an auto AC recycle machine, oil can drains, a brake drum & rotor machine, a gas heater, engine stand, grinder, various work tables and stands, and lumber for constructing an additional 74x27 shelter. The property is conveniently located on Dunn-Erwin Road and benefits from city water and sewer connections. It's zoned B2, offering flexibility for various commercial uses. The seller may consider owner financing, making this an even more attractive investment. Don't miss this chance to acquire a well-equipped and versatile commercial building at an affordable price.

    Property Features for 2401 Erwin Rd

    General Information

    Property type
    Other commercial real estate
    Square Feet
    4,560 SF
    Lot Size
    17,424 SF

    Building Details

    Year Built
    1950

    We can help!

    Listing Contact
    John Wayne Hudson

    Learn more

    Property Insight Report
    Property Profile Location Intelligence

    Current Use by Public Records

    Quick Service Inc Oil Change Service Williams Total Victory Repair Service

    Suggested Use

    Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Dunn
    County
    Harnett
    State
    North Carolina
    Longitude
    -78.64965
    Latitude
    35.31711

    Nearby Similar for Sale

    • $469,000
      3,101 SF

      Downtown Dunn Commercial Property

      Commercial property in downtown Dunn with multiple office areas.
      110 S Layton Ave, Dunn, NC 28334
      View Details
    • $1,000,000
      12,500 SF

      Commercial Property on Highway 421

      Multi-use property with high visibility on a busy commercial corridor.
      401 W Cumberland St, Dunn, NC 28334
      View Details
    • $369,900
      3,154 SF

      Versatile Commercial Building on Corner Lot

      3,154 sq ft commercial building suitable for retail or office.
      201 S Orange Ave, Dunn, NC 28334
      View Details
    • $175,000

      Dunn Duplex with Rental Potential

      Duplex with two units, convenient location, and rehab potential.
      707 W Cumberland St, Dunn, NC 28334
      View Details
    • New
      $2,500,000
      127.59 Acres

      Prime Farmland in Dunn, NC

      127 acres of farmland ideal for homestead, farm, or ranch.
      Red Hill Church Rd, Dunn, NC 28334
      View Details
    • $369,900
      3,154 SF

      Corner Lot Commercial Building

      Versatile 3,154 sq ft building suitable for retail or office.
      201 S Orange Ave, Dunn, NC 28334
      View Details
    • New
      $179,000
      Pending

      Brick Ranch Office in Dunn

      Centrally located commercial office with potential for residential rezoning.
      608 N Ellis Ave, Dunn, NC 28334
      View Details
    • $375,000
      2,980 SF

      Remodeled Commercial Building on Corner Lot

      Completely remodeled commercial building on a highly visible corner lot.
      805 S Clinton Ave, Dunn, NC 28334
      View Details
    • $600,000
      5,000 SF

      Medical Offices Near Regional Hospital

      Medical offices for sale, potential for cash flow and appreciation.
      731 Tilghman Dr, Dunn, NC 28334
      View Details
    • $450,000
      1,260 SF

      Corner Lot Retail/Office Building

      Brick building on a high visibility corner lot.
      1206-1208 W Cumberland St, Dunn, NC 28334
      View Details
    • $469,000

      Downtown Dunn Commercial Property

      Commercial property in downtown Dunn with multiple office areas.
      110 S Layton Ave, Dunn, NC 28334
      View Details
    • $375,000

      Remodeled Multi-Use Commercial Building

      Remodeled commercial building on corner lot with versatile service/retail zoning.
      805 S Clinton Ave, Dunn, NC 28334
      View Details

    FAQs

    What type of property is this?
    Commercial real estate - Large Service Garage & Shop - $395K
    Where is this commercial real estate located?
    The property is located at 2401 Erwin Rd Dunn, NC.
    What is the asking price?
    The asking price for this property is $395,000.
    (888) 455-6040
    Request Owner's contact information
    2401 Erwin Rd Dunn, NC 28334
    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.
    2401 Erwin Rd
    Dunn, NC 28334
    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
    2401 Erwin Rd Dunn, NC 28334
    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

    We can help!
    Listing Contact
    John Wayne Hudson
    (888) 455-6040
    Learn more
    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.