Add Listing
    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

    1475 W Market St Smithfield, NC 27577

    View on Map
    New
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Commercial property on 0.617 acres with redevelopment potential.

    Property size:
    1,900 SF
    Lot size:
    0.62 Acres

    Property Features for 1475 W Market St

    General Information

    Standard status
    Active
    Size
    1,900 SF
    Lot size
    0.62 Acres

    Building Details

    Year built
    1976

    We can help!

    Listing Contact
    Tracy L Riba
    Source: Corcoran

    Listing Agency: HTR SOUTHERN PROPERTIES Listing Agent: Tracy L Riba

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

    Learn more

    Overview

    Redevelopment Opportunity in Growing Corridor

    This commercial property, previously a cafe, presents a redevelopment opportunity in a growing area. The building, approximately 1900 square feet, is situated on a 0.617-acre lot. The property is suitable for investors looking to customize the space. The site benefits from high visibility, with over 13,500 vehicles passing by daily. Its location is near the Johnston Regional Airport (JNX), the new Amazon distribution plant, and Johnston Health Hospital. The property includes parking and outdoor entertainment areas, featuring an open patio with a firepit and an enclosed patio with a second firepit. Located in a high-growth industrial and retail zone, this property is offered as-is. A 20-foot utility easement is present on the property, which is positioned to benefit from Smithfield's economic expansion. The property is ideal for capitalizing on Smithfield's economic expansion.
    Location Intelligence

    Current Use by Public Records

    CashPoints® ATM Atm Heidi's Two Wheel ... Restaurant

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Big Box & Wholesale Store Auto Repair Shop Gym & Fitness Center Auto Parts Store Department Store Kitchen & Bath Showroom

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

    Location Insight

    • Map
    • Local Demand
    City
    Smithfield
    County
    Johnston
    State
    North Carolina
    Longitude
    -78.368725
    Latitude
    35.530369

    Nearby Similar for Sale

    • New
      $650,000
      1,900 SF

      Smithfield Commercial Redevelopment Opportunity

      High-visibility commercial property in a rapidly growing corridor.
      1475 W Market St, 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 St, Smithfield, NC 27577
      View Details
    • Contact for pricing
      1,620 SF

      Daycare Facility on High-Traffic Road

      1,620 sq ft daycare on 0.788-acre lot for sale.
      651 N Brightleaf Blvd, Smithfield, NC 27577
      View Details
    • $319,900
      2,300 SF

      Downtown Smithfield Office Building

      Renovated Office/Residential Space, High Potential
      510 Bridge St, Smithfield, NC 27577
      View Details
    • $249,500
      1.05 Acres

      Smithfield Commercial Land Opportunity

      High-traffic lot, development potential.
      1803 Brightleaf Blvd, Smithfield, NC 27577
      View Details
    • Contact for pricing
      0.47 Acres

      Historic Smithfield Office Suites

      Charming downtown Smithfield offices, $450+
      709 3Rd St, Smithfield, NC 27577
      View Details
    • $249,500
      2.00 Acres

      Smithfield Commercial Land Opportunity

      Two Acres, Hwy 301 Frontage, Zoned Commercial
      Us 301 Hwy, Smithfield, NC 27577
      View Details
    • $189,900
      1,005 SF

      Downtown Smithfield Office Suite

      Spacious Office, Prime Location, Handicap Accessible
      101 Market St Unit, Smithfield, NC 27577
      View Details
    • $179,000
      0.35 Acres

      Downtown Smithfield Restaurant Opportunity

      High-traffic location, established tenant.
      109 Brightleaf Blvd, Smithfield, NC 27577
      View Details
    • $499,900
      3.15 Acres

      Smithfield Commercial Land Opportunity

      3.15 Acres, US 70 Highway Frontage
      4325 Us 70 Hwy, Smithfield, NC 27577
      View Details
    • $199,000
      2.93 Acres

      Smithfield Commercial Land Opportunity

      2.93 Acres, Prime Location, $199,000
      1 Berkshire Rd, Smithfield, NC 27577
      View Details
    • Contact for pricing
      7,000 SF

      South Smithfield Warehouse Storage Spaces

      Warehouse spaces in South Smithfield, easily accessible from major highways.
      711 E Rose St, Smithfield, NC 27577
      View Details

    FAQs

    What type of property is this?
    Storefront property - Commercial property on 0.617 acres with redevelopment potential.
    Where is this storefront property located?
    The property is located at 1475 W Market St Smithfield, NC.
    What are key features of this property?
    This property features: - Prime redevelopment opportunity in a rapidly growing corridor.; - Exceptional visibility with over 13,500 cars passing daily.; - Strategically located near Johnston Regional Airport (JNX), the new Amazon distribution plant, and Johnston Health Hospital.
    (919) 879-8770
    Request Owner's contact information
    1475 W Market St Smithfield, NC 27577
    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.
    1475 W Market St
    Smithfield, NC 27577
    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
    1475 W Market St Smithfield, NC 27577
    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
    Tracy L Riba
    (919) 879-8770
    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!