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    Property profile & analytics

    1015 Lewis St Oxford, NC 27565-6115

    • Outlet malls
    • 154,180 SF
    • 29.95 lot acres
    OFF-MARKET
    Value Estimations
    $1,105,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-4059928
    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

    • Walmart Garden Center / Garden Center / Landscaping Supply Store
    • Walmart Pharmacy / Herbal Medicine Store / Medical Supply Store
    • Minute Key / Key Duplication Service
    • Walmart Business Center / Office Furniture Store / Computer Service
    • Quick-Tag / Pet Supply Store / Kiosk

    Property Details for 1015 Lewis St

    Year built
    2009
    Lot size
    29.95 lot acres
    Property size
    154,180 SF
    Zone code
    B2
    Property type
    Outlet malls
    APN
    191204608919
    APU
    191204608919

    Description

    The Shoppes at Oxford, a thriving retail center in Granville County, offers exceptional opportunities for businesses seeking high-traffic locations. This 149,235 square foot property is anchored by a Walmart, ensuring consistent customer flow and strong visibility. Currently, three retail spaces are available, ranging from a minimum of 1,600 square feet to a maximum contiguous space of 3,150 square feet. The center boasts a diverse tenant mix, including established businesses such as Cricket Wireless, Dulce Marias Ice Cream & Bakery, Zen Tobacco & Vape, La Rancherita, Verizon, Cato, Dollar Tree, The Internet Cafe, and Highway 55, creating a vibrant and synergistic retail environment. A total of 39,550 square feet of in-line retail space is available for lease. With a current vacancy of 4,750 square feet, this presents a unique chance to establish or expand your business within a well-established and successful shopping center. The property's strategic location ensures high foot traffic and easy accessibility for customers. This is a rare opportunity to secure a prime retail space in a bustling shopping center with a strong anchor tenant and a diverse range of existing businesses. Don't miss out on this chance to become part of a thriving retail community.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $1,105,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Oxford
    County
    Granville
    State
    North Carolina
    Longitude
    -78.6032
    Latitude
    36.2797
    CBSA code
    20500
    CBSA name
    DURHAM-CHAPEL HILL, NC METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $143,945
    $2,814,675
    $9,664,994
    $12,479,669
    -
    $2,814,675
    $9,664,994
    $12,479,669

    Comparable in this City

    • Value Estimation
      $1,395,000
      70,040 SF

      531 Industry Dr

      WHOLESALE OUTLET, DISCOUNT STORE • 70,040 SF
      531 Industry Dr, Oxford, NC 27565-3545
      View Details
    • Value Estimation
      $1,340,000
      9,190 SF

      5561 Culbreth Rd

      WHOLESALE OUTLET, DISCOUNT STORE • 9,190 SF
      5561 Culbreth Rd, Oxford, NC 27565-7786
      View Details
    • Value Estimation
      $280,000
      1,800 SF

      104 Granville Cors

      MINI-MALL • 1,800 SF
      104 Granville Cors, Oxford, NC 27565-4006
      View Details
    • Value Estimation
      $1,295,000
      11,000 SF

      911 Martin Luther King Jr Ave

      MINI-MALL • 11,000 SF
      911 Martin Luther King Jr Ave, Oxford, NC 27565-3683
      View Details
    • Value Estimation
      $1,135,000
      39,844 SF

      1011 Lewis St

      MINI-MALL • 39,844 SF
      1011 Lewis St, Oxford, NC 27565-6174
      View Details
    • Value Estimation
      $270,000
      2,184 SF

      6699 Nc Hwy 96

      AUTO REPAIR, GARAGE • 2,184 SF
      6699 Nc Hwy 96, Oxford, NC 27565-8819
      View Details

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    Similar Nearby for Lease

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    • $5 SF/Yr
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      Modern Manufacturing Facility in Oxford

      90,000 SF manufacturing and warehouse space near I-85.
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    • $6 SF/Yr
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      Oxford Industrial Space For Lease

      Industrial space available for lease in Oxford, North Carolina.
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    • $6 SF/Yr
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      Oxford Industrial Warehouse Space

      Large warehouse space for lease in Oxford, NC.
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    Oxford, NC 27565-6115
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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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