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    East Sanford Industrial Land Opportunity Title is generated by Realmo AI

    152 155 E Chisolm, Sanford, NC 27330

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    For Sale
    $950,000

    7.8 acres in East Sanford with industrial zoning.

    Type:Commercial
    Property size:
    20,390 SF
    Lot size:
    7.80 Acres
    Price / SF:
    $46/SF
    Added:
    Jul 22, 2025
    Days on Market:
    304
    Last Refresh:
    Apr 5 at 8:55 pm

    Property Features for 152 155 E Chisolm

    General Information

    Standard status
    Active
    Size
    20,390 SF
    Lot size
    7.80 Acres
    Property subtype
    Commercial

    Building Details

    Year Built
    1910

    We can help!

    Listing Contact
    GAVIN MEKEMSON

    Listing agent GAVIN MEKEMSON

    Listing office WINDJAM PROPERTIES

    Listing date Jul 22, 2025

    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 WINDJAM PROPERTIES

    HighLights

    • 7.8 acres in 8 parcels, including approximately 5.8 acres zoned light industrial in East Downtown Sanford.
    • Located next to the City of Sanford‑owned former Singer furniture factory, near future Greenway development 'Sanford Central Green'.
    • Two brick warehouses on site: 12,550 sf and 7,840 sf.
    • Onsite access to Seaboard Coastline Railway.
    • Historic smokestack built in 1891.
    • Located in East Sanford, near planned community space and farmers market.

    Overview

    This turn-of-the-century old Cotton Mill location is available for purchase in East Downtown Sanford, situated next to the former Singer furniture factory. The property comprises 7.8 acres in 8 separate parcels, with approximately 5.8 acres zoned for light industrial use. Located in downtown East Sanford, the site features an historic smokestack built in 1891. Onsite are two brick warehouses: Warehouse 1 with 12,550 square feet and Warehouse 2 with 7,840 square feet. The warehouses have a height of 16 feet and require a new roof. The Seaboard Coastline Railway is located onsite. In 2017, the City of Sanford acquired neighboring parcels for approximately $209,000 per acre for the future Greenway ''Sanford Central Green'', envisioned as an innovative and inclusive public space for community enjoyment and a farmers market, representing a long-term transformation of downtown and East Sanford.
    Location Intelligence

    Current Use by Public Records

    Warehouses

    Similar Places Nearby

    • Sanford U-Park-It — 413 Chatham St, Sanford, NC 27330
    • Moving Kings NC — 911 Fields Dr, Sanford, NC 27330

    Map

    City
    Sanford
    County
    Lee
    State
    North Carolina
    Longitude
    -79.1725
    Latitude
    35.477

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    FAQs

    What type of property is this?
    Warehouse - 7.8 acres in East Sanford with industrial zoning.
    Where is this warehouse located?
    The property is located at 152 155 E Chisolm Sanford, NC.
    What is the asking price?
    The asking price for this property is $950,000.
    What are key features of this property?
    This property features: 7.8 acres in 8 parcels, including approximately 5.8 acres zoned light industrial in East Downtown Sanford.; Located next to the City of Sanford‑owned former Singer furniture factory, near future Greenway development 'Sanford Central Green'.; Two brick warehouses on site: 12,550 sf and 7,840 sf.
    (919) 883-8528
    We can help!
    Listing Contact
    GAVIN MEKEMSON
    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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