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    109 Anchors Way Dr Edenton, NC

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    38,400 SF industrial building on 8.42 acres for sale.

    Type:INDUSTRIAL
    Property size:
    38,400 SF
    Lot size:
    8.42 Acres
    Price / SF:
    $91/SF
    Added:
    Sep 30, 2024
    Days on Market:
    579
    Last Refresh:
    Apr 5 at 10:06 pm

    Property Features for 109 Anchors Way Dr

    General Information

    Standard status
    Active
    Size
    38,400 SF
    Lot size
    8.42 Acres
    Property subtype
    INDUSTRIAL

    We can help!

    Listing Contact
    Ben R Anderson

    Listing agent Ben R Anderson

    Listing office Colliers | Norfolk

    Listing date Sep 30, 2024

    Source Moodyscre

    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 Colliers | Norfolk

    Overview

    Industrial Warehouse with Crane Rails

    This 38,400 square foot industrial property includes approximately 4,824 square feet of office space and is situated on approximately 8.42 acres. The property is zoned IW (Industrial). The warehouse features a 30-foot ceiling height and metal halide lighting fixtures. A wet sprinkler system is in place. Electrical service is 600 AMP, 3-Phase. The building is equipped with one 2-ton and one 4-ton Mid-Atlantic crane, with crane rails installed. The roof system is a rigid frame with a metal deck. There are four drive-in doors: one 19-foot by 20-foot door, one 16-foot by 14-foot door, and two 12-foot by 12-foot doors. The column spacing is clear span, with 60-foot by 320-foot and 80-foot by 180-foot warehouse bays. Water and sewer utilities are available. The office area is served by two heat pumps, while the warehouse is heated with a hot-water boiler. The property offers access to a nearby waterfront and airport.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Daedalus Yachts (Bike/Boat/Book/etc) Store Voltaire Yachts (Bike/Boat/Book/etc) Store

    Suggested Use

    Restaurant Building Supply Auto Repair Shop Gym & Fitness Center Department Store Food Market Grocery & Convenience Store Restaurant

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

    Location Insight

    • Map
    • Local Demand
    City
    Edenton
    County
    Chowan
    State
    North Carolina
    Longitude
    -76.5724
    Latitude
    36.0233

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    FAQs

    What type of property is this?
    Warehouse - 38,400 SF industrial building on 8.42 acres for sale.
    Where is this warehouse located?
    The property is located at 109 Anchors Way Dr Edenton, NC.
    What is the asking price?
    The asking price for this property is $3,500,000.
    What are key features of this property?
    This property features: Large Industrial Space: 38,400 SF facility with 4,824 SF of office space on 8.42 acres.; 30' ceiling height with clear span column spacing (60’ x 320’ and 80’ x 180’ warehouse bays).; Heavy Power and Crane Capacity: 600 AMP, 3‑Phase electrical service and (1) 2‑Ton & (1) 4‑Ton Mid‑Atlantic Cranes.
    (757) 634-9902 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Ben R Anderson
    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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    109 Anchors Way Dr, Edenton, NC

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