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    Main St Red Springs, NC 28377

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    For Sale
    Contact for pricing

    Prime Red Springs location, 3,276 sq ft lot

    Property size:
    3,276 SF

    Property Features for 0 Main St

    General Information

    Property type
    Land
    Square Feet
    3,276 SF

    We can help!

    Listing Contact
    Justin Kirk
    Justin Kirk

    Listing Agency: CENTURY 21 Liberty Listing Agent: Justin Kirk

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    This exceptional commercial property, located in the heart of downtown Red Springs, North Carolina, presents a unique investment opportunity. Situated on a 9,268 square foot rectangular lot at 0 N Main Street (NC Hwy 71, 211, and 710), this property boasts over 100 years of history. The existing 3,276 square foot solid masonry structure, while showing its age, benefits from a high-traffic location with steady vehicular flow throughout the day and night. The lot measures approximately 66.75 linear feet along Main Street and extends 137.50 linear feet to a 20-foot paved alley, providing convenient access to a large parking lot adjacent to the nearby fire station. This presents significant potential for redevelopment or repurposing. Note that adjacent properties to the south are also available for purchase, offering the possibility of expanding the property to over 200 linear feet of Main Street frontage. The asking price for this property is $149,900.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Red Springs
    County
    Robeson
    State
    North Carolina
    Longitude
    -79.181699
    Latitude
    34.8171553

    Nearby Similar for Sale

    • $185,000
      1,400 SF

      Red Springs Office Building For Sale

      Office building in Red Springs with ample space and parking.
      919 E 4Th Ave, Red Springs, NC 28377
      View Details
    • $525,000
      8,000 SF

      Red Springs Commercial Investment Property

      Commercial property with 8000+ sqft, 100% occupancy, parking lot.
      314 E 4Th Ave, Red Springs, NC 28377
      View Details

    FAQs

    What type of property is this?
    Land - Prime Red Springs location, 3,276 sq ft lot
    Where is this land located?
    The property is located at Main St Red Springs, NC.
    What is the asking price?
    The asking price for this property is $149,900.
    What are key features of this property?
    This property features: $149,900 asking price.; 3,276 SF special purpose land in Red Springs, NC.; Located on Main Street (NC Hwy 71, 211, and 710) with high daily traffic.
    (910) 964-1777 Call to check price and availability
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    Main St Red Springs, NC 28377
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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
    Main St Red Springs, NC 28377
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    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Justin Kirk
    Justin Kirk
    Real Estate License ID: 307647
    (910) 964-1777 (910) 237-5018 (910) 485-7800
    Learn more
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