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    Prime Industrial Development Opportunity Title is generated by Realmo AI

    0 and 1150 Pea Ridge Road & 190 and 276 Top Chord, New Hill, NC 27562

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    Large industrial park site near US-1 interchange in Chatham County.

    Type:Industrial, Land
    Property size:
    709,275 SF
    Lot size:
    114.29 Acres
    Added:
    Apr 30, 2024
    Days on Market:
    766
    Last Refresh:
    May 12 at 11:35 pm

    Property Features for 0 and 1150 Pea Ridge Road & 190 and 276 Top Chord

    General Information

    Standard status
    Active
    Size
    709,275 SF
    Lot size
    114.29 Acres
    Property subtype
    Industrial, Land

    We can help!

    Listing Contact
    Sarah Godwin
    Sarah Godwin

    Listing agent Sarah Godwin License #270966

    Listing office Foundry Commercial Raleigh

    Listing date Apr 30, 2024

    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 Foundry Commercial Raleigh

    HighLights

    • Large ±114.29‑acre industrial development opportunity in an Opportunity Zone.
    • Located at the US‑1 and Pea Ridge Road interchange with high traffic volume (33,500 VPD) and planned roadway improvements.
    • Proximity to VinFast (3 minutes), I‑540 (9 minutes), and Triangle Innovation Point (TIP) West (0.5 miles).
    • Zoned for light industrial (±107.79 acres) and neighborhood business district (±6.50 acres), suitable for warehouse, distribution, or flex space.
    • Located in Chatham County's easternmost identified industrial node, supporting large industrial developments.
    • Close proximity to RDU International Airport (30 minutes) and RTP (28 minutes).

    Overview

    This ±114.29-acre industrial development opportunity, known as Top Chord Industrial Park, is located at the US-1 and Pea Ridge Road interchange in Chatham County, NC. The property is zoned for light industrial (±107.79 acres) and neighborhood business district (±6.50 acres). Situated adjacent to the high-growth US-1 interchange with 33,500 vehicles per day, it is also in close proximity to Triangle Innovation Point (TIP). Envisioned for various development opportunities, including warehouse, distribution, or flex spaces, initial concept plans suggest approximately 690,000 square feet of warehouse/distribution space and an additional 18,675 square feet of commercial/flex space. The property is located 3 minutes from the future Vinfast facility, 9 minutes from I-540, 10 minutes from Sanford, 28 minutes from RTP, and 30 minutes from RDU International Airport. TIP West, located 0.50 miles south, delivered a 340,000 square foot FedEx facility in late 2Q 2023. The North Carolina Department of Transportation (NCDOT) is in the initial planning phase of major roadway improvements for the US-1/Pea Ridge interchange to accommodate future growth. Chatham County has identified selective areas, including this site, as future employment centers to support large industrial developments. The property is situated within the easternmost industrial node identified by Chatham County, offering visibility and access to the Raleigh-Durham, Pittsboro, and Sanford areas.
    Location Intelligence

    Current Use by Public Records

    Industrial land

    Map

    City
    New Hill
    County
    Wake
    State
    North Carolina
    Longitude
    -78.9462
    Latitude
    35.6554

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    FAQs

    What type of property is this?
    Industrial land - Large industrial park site near US-1 interchange in Chatham County.
    Where is this industrial land located?
    The property is located at 0 and 1150 Pea Ridge Road & 190 and 276 Top Chord New Hill, NC.
    What are key features of this property?
    This property features: Large ±114.29‑acre industrial development opportunity in an Opportunity Zone.; Located at the US‑1 and Pea Ridge Road interchange with high traffic volume (33,500 VPD) and planned roadway improvements.; Proximity to VinFast (3 minutes), I‑540 (9 minutes), and Triangle Innovation Point (TIP) West (0.5 miles).
    (984) 206-7005 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Sarah Godwin
    Sarah Godwin
    Real Estate License ID: 270966
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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.

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