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    1671 Outlet Center Dr Selma, NC 27576

    Sponsored
    For Sale
    $1,749,900

    5.17 Acres, I-95/US 70 Exit 97

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    405
    This exceptional 5.17-acre commercial land parcel, situated at the high-traffic I-95/US 70 interchange (Exit 97) in Selma, North Carolina, presents a prime development opportunity. Zoned IB-Interstate Business, this property boasts convenient access from I-95, US 70, and Outlet Center Drive, placing it within a thriving commercial corridor. The site is ideally positioned near Carolina Premium Outlets, a major shopping destination attracting 7-9 million visitors annually, according to census data. Its proximity to Eastfield Business Park, and numerous established businesses including hotels (La Quinta Inn & Suites, Hampton Inn, Econo Lodge), and restaurants (Dunkin', KFC, Hardee's, Popeye's, Wendy's, Cook Out, Waffle House) underscores its strategic location. The property comprises two parcels and offers significant potential for hotels, retail establishments, restaurants, or other commercial ventures. Utilities including water and sewer are available. With I-95 boasting an average annual daily traffic (AADT) of 43,000 vehicles and US 70 at 26,000 AADT, this location guarantees high visibility and accessibility. The asking price is $1,749,900. Johnston County location and proximity to Raleigh and Goldsboro (30 minutes from each) further enhance its appeal.

    Property Features for 1671 Outlet Center Dr

    General Information

    Property type
    Land
    Lot Size
    225,205 SF

    We can help!

    Listing Contact
    Teresa Daughtry
    Teresa Daughtry

    Learn more

    Property Insight Report

    HighLights

    • Excellent I‑95 visibility at Exit 97 in Selma, NC.
    • High traffic counts: I‑95 boasts 43,000 AADT.
    • US 70 sees 26,000 AADT.
    • Water and sewer utilities available.
    • Ideal for hotel, retail, and restaurant development.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Restaurant Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Selma
    County
    Johnston
    State
    North Carolina
    Longitude
    -78.2953165
    Latitude
    35.5172682

    Nearby Comparable

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    • New
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    • New
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      Selma Multifamily Investment Opportunity

      New multifamily residences in downtown Selma, built between 2023-2025.
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    Nearby Similar for Sale

    • New
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      New Duplex in Selma, NC

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    • New
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      Selma Multifamily Investment Opportunity

      New multifamily residences in downtown Selma, built between 2023-2025.
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    • $120,000
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      Selma Retail Space - I-95 Visibility

      High-traffic I-95 retail space available for lease.
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      View Details
    • $900,000
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      321 Batten Rd, Selma, NC 27576

      Commercial real estate • 6.61 Acres
      321 Batten Rd, Selma, NC 27576
      View Details

    FAQs

    What type of property is this?
    Land - 5.17 Acres, I-95/US 70 Exit 97
    Where is this land located?
    The property is located at 1671 Outlet Center Dr Selma, NC.
    What is the asking price?
    The asking price for this property is $1,749,900.
    What are key features of this property?
    This property features: Excellent I-95 visibility at Exit 97 in Selma, NC.; High traffic counts: I-95 boasts 43,000 AADT.; US 70 sees 26,000 AADT.
    (919) 585-5327
    Request Owner's contact information
    1671 Outlet Center Dr Selma, NC 27576
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    Selma, NC 27576
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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
    1671 Outlet Center Dr Selma, NC 27576
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    We can help!
    Listing Contact
    Teresa Daughtry
    Teresa Daughtry
    Real Estate License ID: NC 189895
    (919) 585-5327
    Learn more
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