Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Commercial Lot Near Highway 264 Title is generated by Realmo AI

    5153 Old Washington Road, Washington, NC 27889

    View on Map
    Claim this Listing
    For Sale
    $110,000

    COMMERCIAL - Washington, NC

    Lot size:
    1.71 Acres
    Added:
    Jun 12, 2023
    Days on Market:
    1088
    Last Refresh:
    Jun 3 at 8:06 am

    Property Features for 5153 Old Washington Road

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Commercial
    Standard status
    Active
    APN
    5648919345
    Lot size
    1.71 Acres

    Taxes and HOA fees

    Tax Year
    2023
    Tax Description
    BOYD

    We can help!

    Listing Contact
    Lauren Daniel Atkins

    Listing agent Lauren Daniel Atkins License #345813

    Listing office The Rich Company 1468 Carolina Ave, Washington, NC

    Listing date Jun 12, 2023

    MLS# 100389163 Listing URL

    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.

    HighLights

    • Conveniently located on Highway 264 between Washington and Greenville.
    • Septic permit on file.
    • Septic field has been flagged.
    • Located in Pitt County.
    • 7 miles from Downtown Washington.
    • 15 miles from Greenville.

    Overview

    This commercial lot is conveniently located between Washington and Greenville on Highway 264. Situated in Pitt County with a Washington address, the property spans 1.71 acres. A septic permit is on file, and the septic field has been flagged. The location is approximately 15 miles from Greenville, 7 miles from Downtown Washington, and 101 miles from Raleigh. The zoning is commercial, allowing for various business opportunities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Building Supply Auto Repair Shop Grocery & Convenience Store Food Market Electrical Service Storage Facility Clothing & Fashion Store Furniture & Home Goods (Bike/Boat/Book/etc) Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Washington
    County
    Beaufort
    State
    North Carolina
    Longitude
    -77.149985
    Latitude
    35.609515

    Nearby Similar for Sale

    • $425,000
      2,219 SF

      Renovated Duplex Near Waterfront

      Turnkey duplex with income potential near downtown waterfront.
      723 & 725 N Market Street, Washington, NC 27889
      View Details
    • $995,000

      76 Acres Near Washington, NC

      76 acres near Washington, NC, ideal for development or resource use.
      Sr 1311 Off Magnolia School Road, Washington, NC 27889
      View Details
    • $350,000

      Prime Land on Highway 17

      Highly visible 15.71 acres with development potential near waterfront.
      5238 Us 17 Highway N, Washington, NC 27889
      View Details
    • $425,000

      Corner Lot Near Medical Hub

      Commercial land opportunity near hospital and medical offices.
      Brown Street, Washington, NC 27889
      View Details
    • $799,000
      2,740 SF

      Commercial Land with Convenience Store

      Commercial land with a leased convenience store and petroleum facility.
      5385 River Road, Washington, NC 27889
      View Details
    • $210,000

      Wooded Land Near Washington, NC

      18.85 acre wooded tract near Washington, NC.
      Keysville Road, Washington, NC 27889
      View Details
    • $375,000

      Scenic Land with Clear Water

      33-acre property near downtown Washington, NC, ideal for development.
      536 Magnolia School Road, Washington, NC 27889
      View Details
    • $825,000

      Commercial Land in Washington, NC

      1.49 acres of commercial land ready for development.
      1328 Carolina Avenue, Washington, NC 27889
      View Details
    • $105,000

      Waterfront Homesite on Tranters Creek

      4.47-acre waterfront homesite with boat ramp access near Washington, NC.
      103 Raccoon, Washington, NC 27889
      View Details
    • $4,650,000
      52,270 SF

      Prime Commercial Space in Washington

      Spacious commercial property with high visibility and income potential.
      844 W 15th Street, Washington, NC 27889
      View Details
    • $18,000

      Washington, NC Land For Sale

      Partially cleared 0.22 acre lot near Washington's Historic District.
      Us 264 lot: #4, Washington, NC 27889
      View Details
    • $585,000

      35 Acres of Farmland

      35+- acres suitable for industrial, commercial, and residential use.
      Leggett Road, Washington, NC 27889
      View Details

    FAQs

    What type of property is this?
    Commercial land - Commercial lot between Washington and Greenville on Highway 264.
    Where is this commercial land located?
    The property is located at 5153 Old Washington Road Washington, NC.
    What is the asking price?
    The asking price for this property is $110,000.
    What are key features of this property?
    This property features: Conveniently located on Highway 264 between Washington and Greenville.; Septic permit on file.; Septic field has been flagged.
    (252) 450-0490
    We can help!
    Listing Contact
    Lauren Daniel Atkins
    Real Estate License ID: 345813
    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
    5153 Old Washington Road, Washington, NC 27889
    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!