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    202 Madison St Plymouth, NC 27962

    • Commercial real estate
    • 2,119 SF
    • 0.16 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-3563057
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 202 Madison St

    Year built
    1901
    Lot size
    0.16 lot acres
    Property size
    2,119 SF
    Property type
    Commercial real estate

    Description

    This exceptional investment opportunity presents a charming, two-unit property located in historic downtown Plymouth, North Carolina. The 2,119 square foot building, constructed in 1901, sits on a 0.16-acre lot (70x100x70x100 feet) and features a wood-frame design with two stories. The property is zoned R and boasts off-street parking, a metal exterior, and a recently updated roof (December 2023). The building comprises two distinct units. Unit A, a ground-floor unit, currently features two bedrooms and one full bath and is currently leased. Unit B, located on the upper level, offers one bedroom and one bath. The property is being offered "as is," providing a canvas for potential upgrades and personalized touches. This presents a rare chance to acquire a piece of Plymouth's history, offering strong potential for rental income and appreciation in this desirable coastal community. The 2022 tax records indicate a total square footage of 2,119 across the two units. This property is ideal for investors seeking a turnkey opportunity or a project to add value.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Plymouth
    County
    Washington
    State
    North Carolina
    Longitude
    -76.747021
    Latitude
    35.8668036

    Comparable in this City

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      Speedway Gas Station Investment Opportunity

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      0.82 Acres

      Plymouth, NC Acreage Lot

      0.82 acre lot with rural charm near Outer Banks.
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      Wooded Land Near Plymouth

      Two wooded parcels totaling approximately 3.92 acres near Plymouth.
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      Waterfront Land Ready to Build

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    Similar Nearby for Sale

    • $209,500
      3.31 Acres

      Mobile Home Park Investment Opportunity

      Mobile home park with income potential near Outer Banks.
      1115 Folly Rd, Plymouth, NC 27962
      View Details
    • $2,000,000
      1.36 Acres

      Highway Retail Investment Opportunity

      High-visibility shopping center on US Highway 64 E with ample parking.
      57 Us Highway 64 E, Plymouth, NC 27962
      View Details
    • $1,051,692
      2,576 SF

      Speedway Gas Station Investment Opportunity

      NNN leased Speedway with rental increases in Plymouth, North Carolina.
      630 Us Highway 64 E, Plymouth, NC 27962
      View Details
    • Contact for pricing
      0.82 Acres

      Plymouth, NC Acreage Lot

      0.82 acre lot with rural charm near Outer Banks.
      1222 Wilson St. Ext, Plymouth, NC 27962
      View Details
    • Contact for pricing

      Wooded Land Near Plymouth

      Two wooded parcels totaling approximately 3.92 acres near Plymouth.
      Lot #5 Roxie Reese Rd, Plymouth, NC 27962
      View Details
    • $39,900
      1.97 Acres

      Waterfront Land Ready to Build

      1.97-acre homesite in Roanoke Shores, ready for your dream home.
      lot 35 & 36 N River Rd, Plymouth, NC 27962
      View Details
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    202 Madison St
    Plymouth, NC 27962
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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
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