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

    814 W 15th Street, Washington, NC 27889

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $1,350,000

    3.5+/- acre commercial land with high traffic and accessibility.

    Type:Commercial/Industrial
    Lot size:
    3.50 Acres
    Added:
    Mar 11, 2026
    Days on Market:
    69
    Last Refresh:
    Apr 6 at 1:35 am

    Property Features for 814 W 15th Street

    General Information

    Standard status
    Active
    Lot size
    3.50 Acres
    Property subtype
    Commercial/Industrial

    We can help!

    Listing Contact
    Christopher H. Respess

    Listing agent Christopher H. Respess License #253328

    Listing office United Country Respess Real Estate

    Listing date Mar 11, 2026

    Source Exitrealty

    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 United Country Respess Real Estate

    HighLights

    • High traffic count (18,500 daily) on 15th Street.
    • Significant road frontage (140 feet) on 15th Street.
    • Generous 3.5+\/- acre lot size.
    • Convenient accessibility with entrances from both 15th Street and Minuteman Lane.
    • Versatile property suitable for various business types (restaurant, shopping center, grocery store, etc.).
    • Willingness to subdivide the property.

    Overview

    This 3.5+/- acre property is located in Washington, NC, offering significant potential due to its location and accessibility. Situated on 15th Street, the property benefits from 140 feet of road frontage and a daily traffic count of 18,500. Entrances from both 15th Street and Minuteman Lane provide convenient access for customers. The property's versatility makes it suitable for various establishments, including a restaurant, shopping center, grocery store, coffee shop, retail outlets, or fast-food location. The property owner is willing to subdivide the land to meet specific needs.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Washington
    County
    Beaufort
    State
    North Carolina
    Longitude
    -77.0553
    Latitude
    35.561

    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
    • $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
    • $425,000

      Corner Lot Near Medical Hub

      Commercial land opportunity near hospital and medical offices.
      Brown Street, 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
    • $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
    • $29,900

      Wooded Lot in Waterfront Community

      Wooded lot in waterfront community with amenities and boat slip.
      Tupelo Lane, 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
    • $65,000

      Wooded Homesite in Waterfront Community

      Homesite in Pamlico Plantation with access to community amenities.
      111 Live Oak Lane, Washington, NC 27889
      View Details
    • $795,000
      4,000 SF

      Commercial Building on High-Traffic Corner

      4,000 SF commercial building on 0.87 acres with B-2 zoning.
      852 W 5th Street, Washington, NC 27889
      View Details

    FAQs

    What type of property is this?
    Commercial land - 3.5+/- acre commercial land with high traffic and accessibility.
    Where is this commercial land located?
    The property is located at 814 W 15th Street Washington, NC.
    What is the asking price?
    The asking price for this property is $1,350,000.
    What are key features of this property?
    This property features: High traffic count (18,500 daily) on 15th Street.; Significant road frontage (140 feet) on 15th Street.; Generous 3.5+\/- acre lot size.
    (252) 623-2060
    We can help!
    Listing Contact
    Christopher H. Respess
    Real Estate License ID: 253328
    Learn More
    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
    814 W 15th Street, 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!