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    Mount Airy Industrial Land Available Title is generated by Realmo AI

    238 Old Highway 601, Mount Airy, NC 27030

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    Picture of Industrial land at 238 Old Highway 601, Mount Airy, NC
    Pending
    $1,250,000

    COMMERCIAL - Mount Airy, NC

    Property size:
    4,500 SF
    Lot size:
    24.86 Acres
    Added:
    May 20, 2026
    Days on Market:
    3
    Last Refresh:
    May 22 at 5:06 am

    Property Features for 238 Old Highway 601

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    M1
    Standard status
    Pending
    Size
    4,500 SF
    Lot size
    24.86 Acres

    Building Details

    Year built
    1998

    We can help!

    Listing Contact
    Mark Rogers
    Mark Rogers

    Listing agent Mark Rogers License #67378

    Listing office Rogers Realty & Auction Co., Inc. Mt. Airy, NC

    Listing date May 20, 2026

    MLS# 1199327

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

    HighLights

    • 24.857 acres of industrial zoned land with development potential.
    • Located between I‑74 and US Hwy. 52, near an Amazon facility.
    • High traffic volume: 17,000‑23,000 cars per day on US Hwy. 601.
    • Existing 4,500 SF metal shop building currently rented.
    • Water available from US Hwy. 601 and Old Hwy. 601; sewer connection possible.
    • Land borders Stewarts Creek.

    Overview

    This property features 24.857 acres of industrial-zoned land, as per a recent survey. Included on the site is a 4,500 square foot metal shop building, which is currently rented. Water access is available from both US Highway 601 and Old Highway 601, and sewer connection is possible. The land borders Stewarts Creek and offers open space suitable for additional buildings or parking. A survey details utility rights of way and flood plain information. The location is situated between Interstate 74 and US Highway 52. Traffic counts show 17,000 to 23,000 vehicles per day on US Highway 601 and approximately 5,700 vehicles per day on Old Highway 601. This site is one of the few available between the city limits of Mount Airy and Interstate 74. The property's location benefits from the recent addition of an Amazon facility in Surry County, attributed to the Interstate system, of which I-74 is a part.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Manufacturing properties

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Hair Salon Auto Repair Shop Nail Salon Pharmacy Auto Parts Store Department Store Food Market

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

    Location Insight

    • Map
    • Local Demand
    City
    Mount Airy
    County
    Surry
    State
    North Carolina
    Longitude
    -80.625722
    Latitude
    36.464421

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    FAQs

    What type of property is this?
    Industrial land - 24.86 acres of industrial land with shop building.
    Where is this industrial land located?
    The property is located at 238 Old Highway 601 Mount Airy, NC.
    What is the asking price?
    The asking price for this property is $1,250,000.
    What are key features of this property?
    This property features: 24.857 acres of industrial zoned land with development potential.; Located between I‑74 and US Hwy. 52, near an Amazon facility.; High traffic volume: 17,000‑23,000 cars per day on US Hwy. 601.
    (336) 409-2272
    We can help!
    Listing Contact
    Mark Rogers
    Mark Rogers
    Real Estate License ID: 67378
    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.

    More about this property
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