Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Commercial/Light Industrial Land For Sale Title is generated by Realmo AI

    Lot 5 Peedin, Smithfield, NC 27577

    View on Map
    Claim this Listing
    For Sale
    $190,000

    Commercial or light industrial land conveniently located near I-95.

    Type:Land or Vacant Lot
    Lot size:
    1.88 Acres
    Added:
    Oct 25, 2024
    Days on Market:
    589
    Last Refresh:
    Apr 5 at 10:25 pm

    Property Features for Lot 5 Peedin

    General Information

    Standard status
    Active
    Lot size
    1.88 Acres
    Property subtype
    Land or Vacant Lot

    We can help!

    Listing Contact
    PERRY HARRIS

    Listing agent PERRY HARRIS License #308749

    Listing office HARRIS REALTY & LAND, LLC

    Listing date Oct 25, 2024

    Source Corcoran

    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 HARRIS REALTY & LAND, LLC

    HighLights

    • Prime location behind Carolina Premium Outlets
    • Convenient access to I‑95 and Highway 70
    • Suitable for Commercial or Light Industrial use
    • Water and Sewer available
    • Partially cleared land

    Overview

    This property is a prime location for a commercial or light industrial site. It is situated behind Carolina Premium Outlets and is partially cleared. Water and sewer services are available. The property offers convenient access to I-95 and Highway 70.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Smithfield
    County
    Johnston
    State
    North Carolina
    Longitude
    -78.3206
    Latitude
    35.5159

    Nearby Similar for Sale

    • $575,000
      1,900 SF

      Smithfield Commercial Redevelopment Opportunity

      High-visibility commercial property in a rapidly growing area.
      1475 W Market Street, Smithfield, NC 27577
      View Details
    • $720,000
      1,836 SF

      High-Visibility Commercial Property in Smithfield

      Commercial property with high visibility and excellent highway access.
      925 N Brightleaf Boulevard, Smithfield, NC 27577
      View Details
    • $1,950,000
      15,616 SF

      Versatile Commercial Building Near Outlets

      15,616 SF building near Carolina Premium Outlets.
      230 N Equity Drive, Smithfield, NC 27577
      View Details
    • $350,000
      4,253 SF

      Historic Office Building For Sale

      Charming 4,253 SF office space in historic Smithfield district.
      201 N Second Street, Smithfield, NC 27577
      View Details
    • $749,000

      Scenic Creekfront Acreage with Farmland

      12.4+ acre tract with privacy, natural beauty, and usable land.
      Eli Olive, Smithfield, NC 27577
      View Details
    • $184,990

      Smithfield Land with Wooded Area

      5-acre tract near Smithfield with wooded and cleared areas.
      980 Barbour Road, Smithfield, NC 27577
      View Details
    • $495,000
      4,112 SF

      Versatile Commercial Space, Smithfield NC

      Commercial space suitable for automotive or retail businesses.
      1896 Mallard, Smithfield, NC 27577
      View Details
    • $299,900

      Smithfield Acreage with Redevelopment Potential

      2.75-acre property in Smithfield, NC, ideal for redevelopment or investment.
      1094 Wilsons Mills Road, Smithfield, NC 27577
      View Details
    • $149,900
      1,008 SF

      Smithfield Duplex with Fenced Yard

      Two-bedroom duplex in central Smithfield with a fenced backyard.
      59 N Sussex Drive, Smithfield, NC 27577
      View Details
    • $875,000
      9,103 SF

      Downtown Smithfield 'Davis Building'

      Historic building suitable for retail and office multi-tenant occupancy.
      219 E Johnston, Smithfield, NC 27577
      View Details
    • $1,950,000
      15,616 SF

      Versatile Building Near Carolina Outlets

      15,616 SF building near I-95 and Carolina Premium Outlets.
      230 N Equity, Smithfield, NC 27577
      View Details
    • $875,000
      9,103 SF

      Historic Davis Building in Smithfield

      Mixed-use property in downtown Smithfield, historic tax credit eligible.
      219 East Johnston Street, Smithfield, NC 27577
      View Details

    FAQs

    What type of property is this?
    Commercial land - Commercial or light industrial land conveniently located near I-95.
    Where is this commercial land located?
    The property is located at Lot 5 Peedin Smithfield, NC.
    What is the asking price?
    The asking price for this property is $190,000.
    What are key features of this property?
    This property features: Prime location behind Carolina Premium Outlets; Convenient access to I‑95 and Highway 70; Suitable for Commercial or Light Industrial use
    (919) 300-1160
    We can help!
    Listing Contact
    PERRY HARRIS
    Real Estate License ID: 308749
    Learn More
    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.
    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

    Thank You for Inquiry
    Lot 5 Peedin, Smithfield, NC 27577
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!