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

    87 NC-24, Cameron, NC 28326

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    Land with retail and multi-family potential in underserved area.

    Type:Land
    Added:
    Jun 20, 2022
    Days on Market:
    1448
    Last Refresh:
    May 12 at 11:38 pm

    Property Features for 87 NC-24

    General Information

    Standard status
    Active
    Property subtype
    Land

    We can help!

    Listing Contact
    Franklin Johnson

    Listing agent Franklin Johnson License #NC 146789

    Listing office Franklin Johnson Commercial Real Estate

    Listing date Jun 20, 2022

    Source Crexi

    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 Franklin Johnson Commercial Real Estate

    HighLights

    • Prime location with unlimited retail and multi‑family potential.
    • High traffic volume: 42,500 vehicles per day.
    • Strong demographics: Over 44,000 households within 5 miles with an average income of $90,000/year.
    • Significant residential growth: A recently approved 6,000 unit subdivision within 200 yards.
    • County Long Range plan calls for commercial/mixed use.
    • Owner willing to subdivide.

    Overview

    This property represents a 75% ownership stake and is situated in a prime location with significant potential for both retail and multi-family development. The area is currently underserved, located more than 15 miles from major retail centers. The site benefits from high traffic volume, with an Average Daily Traffic (ADT) count of 42,500 vehicles per day. The surrounding area has over 44,000 existing households within a 5-mile radius, with an average household income of $90,000 per year. The population is experiencing continuous growth, supported by substantial residential construction activity, including a recently approved 6,000-unit subdivision located within 200 yards of the property. According to the County Long Range plan, the area is designated for commercial and mixed-use development. The owner is open to subdividing the property. Additional frontage and adjacent parcels may be available. Incentives may be negotiated with the County.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Cameron
    County
    Harnett
    State
    North Carolina
    Longitude
    -79.2618
    Latitude
    35.3148

    Nearby Similar for Sale

    • $35,000

      Residential Land in Desirable Subdivision

      Prime lot to build your dream home in Cameron, NC.
      brookridge Drive, Cameron, NC 28326
      View Details
    • $275,000

      6.44 Acre Lot For Sale

      6.44 acre lot with no HOA in Cameron, NC.
      395 Atkins Road, Cameron, NC 28326
      View Details
    • $1,950,000

      Cameron Commercial Land For Sale

      Prime commercial land in a high-traffic area, suitable for development.
      1813 NC 24-87 Highway, Cameron, NC 28326
      View Details
    • $599,000

      Expansive Land with Pond in Cameron

      59.1 acres in Cameron, NC, featuring pond and diverse landscape.
      1474 Hillmon Grove Road, Cameron, NC 28326
      View Details
    • $125,000

      Land Available in Cameron, NC

      4.23 acre land parcel with utilities in Cameron, NC.
      Union Church Road, Cameron, NC 28326
      View Details
    • $275,000

      Cameron, NC 6.44 Acre Lot

      6.44 acre lot with no HOA in Cameron, NC.
      395 Atkins Road lot: 2, Cameron, NC 28326
      View Details
    • $530,000

      Commercial Land in Spout Springs

      1.97-acre commercially zoned tract with high traffic volume.
      70 Garland Drive, Cameron, NC 28326
      View Details
    • $630,000

      9.58 Acre Lot For Sale

      9.58 acre lot with mature trees and pond.
      540 Sanctuary Trail, Cameron, NC 28326
      View Details
    • $630,000

      9.58 Acre Lot in Cameron

      9.58 acre lot with mature trees and spring-fed pond.
      540 Sanctuary Trail lot: 9, Cameron, NC 28326
      View Details
    • $299,000

      Secluded Land Parcel in Cameron

      18.70-acre parcel perfect for private retreat or investment.
      1d Ponderosa Road, Cameron, NC 28326
      View Details
    • $275,000

      Cameron, NC 5.69 Acre Lot

      5.69 acre lot with no HOA in Cameron, NC.
      720 Peele Farm Lane, Cameron, NC 28326
      View Details
    • $275,000

      6.36 Acre Lot For Sale

      6.36 acre lot with county water and fiber internet.
      505 Sanctuary Trail, Cameron, NC 28326
      View Details

    FAQs

    What type of property is this?
    Commercial land - Land with retail and multi-family potential in underserved area.
    Where is this commercial land located?
    The property is located at 87 NC-24 Cameron, NC.
    What is the asking price?
    The asking price for this property is $10,140,000.
    What are key features of this property?
    This property features: Prime location with unlimited retail and multi‑family potential.; High traffic volume: 42,500 vehicles per day.; Strong demographics: Over 44,000 households within 5 miles with an average income of $90,000/year.
    (910) 802-0076 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Franklin Johnson
    Real Estate License ID: NC 146789
    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
    87 NC-24, Cameron, NC 28326
    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!