Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Edenton Commercial Building For Lease Title is generated by Realmo AI

    1823 Virginia Road, Edenton, NC 27932

    View on Map
    Claim this Listing
    For Lease
    $4,800/Mo $7 SF/Yr (calc)

    COMMERCIAL - Edenton, NC

    Property size:
    8,000 SF
    Lot size:
    1.73 Acres
    Added:
    May 16, 2025
    Days on Market:
    372
    Last Refresh:
    May 22 at 1:06 pm

    Property Features for 1823 Virginia Road

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Zoning
    A1
    Parking
    40
    Parking features
    Off Street, Parking Lot
    Standard status
    Active
    APN
    689800251579
    Size
    8,000 SF
    Lot size
    1.73 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    Fee Simple
    Tax Annual Amount
    6299
    Expense value
    4800
    Expense
    SecurityDeposit
    Expense freq.
    One Time

    Utilities

    Sewer type
    Septic Tank
    Heating system
    Natural Gas
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    2015
    Number of units
    1
    Flooring type
    Concrete
    Building materials
    Glass, Block, Aluminum Siding, Steel Frame
    Roof type
    Metal

    We can help!

    Listing Contact
    Alex Rich
    Alex Rich

    Listing agent Alex Rich License #261159

    Listing office Rich Company 204 S Poindexter St., Elizabeth City, NC

    Listing date May 16, 2025

    MLS# 100508015

    Copyright © 2026 Hive MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    This commercial building, formerly a Family Dollar, is available for lease. Constructed in 2015, the building is in excellent condition and offers 8,000 square feet of space with ceiling heights between 15 and 20 feet. The property is situated on 1.73 acres and includes 40 parking spaces. Located on Virginia Road (Hwy 32), it is approximately 5 miles north of Edenton, NC, and directly across from White Oak Elementary School in Chowan County, NC. The HVAC units are powered by natural gas.
    Property Profile Location Intelligence

    Current Use by Public Records

    Family Dollar (Bike/Boat/Book/etc) Store

    Suggested Use

    Auto Repair Shop Wine and Liquor Store Pet Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Edenton
    County
    Chowan
    State
    North Carolina
    Longitude
    -76.655949
    Latitude
    36.162286

    Nearby Similar for Lease

    • $1,800/Mo
      2,500 SF

      Edenton Warehouse Unit For Rent

      2,500 sq ft warehouse unit available for rent.
      124 Marine Drive, Edenton, NC 27932
      View Details
    • $900/Mo
      1,250 SF

      Edenton Warehouse Unit For Rent

      1250 sq ft warehouse unit near Edenton Airport.
      124 Marine Drive, Edenton, NC 27932
      View Details
    • $900/Mo
      1,250 SF

      Edenton Warehouse Unit For Rent

      1250 sq ft warehouse unit near Edenton Airport.
      124 Marine Drive, Edenton, NC 27932
      View Details
    • $900/Mo
      1,250 SF

      Edenton Warehouse Unit For Rent

      1250 sq ft warehouse unit near Edenton Airport.
      124 Marine Drive, Edenton, NC 27932
      View Details
    • Contact for pricing
      3,800 SF

      Retail Space in Edenton Village

      Retail shopping center with multiple available units in Edenton, NC.
      1316 N Broad St, Edenton, NC
      View Details
    • Contact for pricing
      107,508 SF

      Retail Shopping Center in Edenton

      107,508 SF retail center with excellent visibility and access.
      1316 N Broad St, Edenton, NC 27932
      View Details

    FAQs

    What type of property is this?
    Storefront property - 8,000 SF commercial building available for lease in Edenton, NC.
    Where is this storefront property located?
    The property is located at 1823 Virginia Road Edenton, NC.
    What is the lease rate?
    The lease rate is $4,800 /Mo.
    (252) 256-1279
    We can help!
    Listing Contact
    Alex Rich
    Alex Rich
    Real Estate License ID: 261159
    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
    1823 Virginia Road, Edenton, NC 27932
    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!