Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    2109 Griffin St Lumberton, NC 28358

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $475,000

    Five-acre property rezoned B2, suitable for diverse development projects.

    Property size:
    2,109 SF
    Lot size:
    5.00 Acres

    Property Features for 2109 Griffin St

    General Information

    Standard status
    Active
    Size
    2,109 SF
    Lot size
    5.00 Acres

    Building Details

    Year built
    1951

    We can help!

    Listing Contact
    Gerry S Cox
    Source: Exitrealty

    Listing Agency: Cox Realty & Appraisal, Inc Listing Agent: Gerry S Cox

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

    Learn more

    Overview

    Versatile Land with Development Potential

    This 5-acre property includes a brick residential home and has been rezoned as B2, allowing for various development opportunities. The property is suitable for multi-family housing, duplexes, apartments, medical facilities, or commercial enterprises, including businesses that require ample parking. It is located less than one mile from Lumberton High School. A preliminary survey for potential duplex construction is on file. The property has a size of 2109 square feet.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Lumberton
    County
    Robeson
    State
    North Carolina
    Longitude
    -78.99676
    Latitude
    34.64027

    Nearby Similar for Sale

    • $369,000
      650 SF

      Lumberton Automotive Sales and Service

      Commercial property suitable for automotive sales and service.
      302 E 2Nd St E, Lumberton, NC 28358
      View Details
    • $145,000
      12,084 SF

      Historic Downtown Retail Opportunity

      Large retail space in Lumberton's historic district.
      305 N Elm St, Lumberton, NC 28358
      View Details
    • $390,000
      3,134 SF

      Mid-Century Modern with In-Law Suite

      Rare Lumberton property with rental income potential and designer elegance.
      3580 Rosewood Dr, Lumberton, NC 28358
      View Details
    • $1,300,000
      6,000 SF

      Retail Property on Fayetteville Road

      Retail property in high-traffic area on Fayetteville Road, Lumberton, NC.
      4555 Fayetteville Rd, Lumberton, NC 28358
      View Details
    • $395,000
      2.14 Acres

      Lumberton Land with Income Potential

      2.14 acres approved for mobile home park development.
      409 Burns Rd, Lumberton, NC 28358
      View Details
    • $267,000
      Pending

      Lumberton Duplex: Income Opportunity

      Income-producing duplex with recent upgrades and move-in ready unit.
      122 Washington St, Lumberton, NC 28358
      View Details
    • $1,500,000

      Turn-Key Multifamily Investment Opportunity

      Four fully furnished single-family properties in Lumberton, NC.
      1103 N Elm St, Lumberton, NC 28358
      View Details
    • $75,000

      Fire-Damaged Commercial Property I-95

      2,704 sq. ft. commercial building off I-95 in Lumberton, NC.
      2017 5Th St, Lumberton, NC 28358
      View Details
    • $449,000

      Warehouse or Distribution Center Potential

      21,000+ sq ft building on 1.22 acres.
      500 1St St, Lumberton, NC 28358
      View Details
    • $1,300,000
      11,800 SF

      Fayetteville Road Retail Opportunity

      High-traffic location, previously an appliance store, now sporting goods.
      4555 Fayetteville Rd, Lumberton, NC 28358
      View Details
    • $325,000
      Pending

      Church with Social Hall Available

      Church featuring social hall, kitchen, office, and seating.
      1106 N Water St, Lumberton, NC 28358
      View Details
    • $650,000

      Lumberton Office Building with Offices

      Professional office building featuring multiple private offices and ample parking.
      1407 E 5Th St, Lumberton, NC 28358
      View Details

    FAQs

    What type of property is this?
    Commercial land - Five-acre property rezoned B2, suitable for diverse development projects.
    Where is this commercial land located?
    The property is located at 2109 Griffin St Lumberton, NC.
    What is the asking price?
    The asking price for this property is $475,000.
    What are key features of this property?
    This property features: - Re-zoned as B2, allowing for diverse development opportunities; - 5-acre property suitable for projects requiring ample space and parking; - Strategically located less than one mile from Lumberton High School
    (910) 608-9263
    Request Owner's contact information
    2109 Griffin St Lumberton, NC 28358
    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.
    2109 Griffin St
    Lumberton, NC 28358
    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
    2109 Griffin St Lumberton, NC 28358
    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
    Gerry S Cox
    Real Estate License ID: 38157
    (910) 608-9263 (910) 738-4817 (910) 863-4817
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!