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    409 2Nd St Lumberton, NC 28358

    Sponsored
    For Sale
    $525,000

    7,030 SF Office, $525,000

    Property size:
    7,030 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    403
    This exceptional 7,030 square foot executive office building presents a compelling investment opportunity in the thriving Lumberton, NC market. Located at 409 E 2nd St, Lumberton, NC 28358, this Class C property boasts a prime location within Robeson County and benefits from a B2 zoning designation. Constructed in 1970, the building is currently home to major long-term tenants, providing a stable and consistent income stream for the new owner. The substantial square footage offers ample space for various office configurations, catering to a diverse range of business needs. This established property offers a secure investment with significant potential for long-term growth and profitability. Its strategic location within the bustling Lumberton area ensures high visibility and accessibility, making it an attractive proposition for both current and future tenants. The solid foundation and well-established tenancy provide a strong base for a successful investment, offering peace of mind and a promising return on investment. This is a rare opportunity to acquire a well-positioned commercial property in a dynamic market. The asking price is $525,000. Don't miss this chance to secure a valuable asset in the heart of Lumberton.

    Property Features for 409 2Nd St

    General Information

    Property type
    Office Properties & Spaces
    Square Feet
    7,030 SF
    Class
    C

    Building Details

    Year Built
    1970

    We can help!

    Listing Contact
    Susan Evans
    Susan Evans

    Learn more

    Property Insight Report

    HighLights

    • $525,000 asking price.
    • 7,030 square foot office building.
    • Class C property.
    • Built in 1970.
    • Located at 409 E 2nd St, Lumberton, NC 28358.
    • B2 zoning.
    Property Profile Location Intelligence

    Current Use by Public Records

    Dr. Garry Nelson Chiropractor Nelson & Nelson Chiropractic Chiropractor Tiffany Mcclure Chiropractor

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Lumberton
    County
    Robeson
    State
    North Carolina
    Longitude
    -79.0041083
    Latitude
    34.6179975

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    FAQs

    What type of property is this?
    Office Property / Space - 7,030 SF Office, $525,000
    Where is this office property / space located?
    The property is located at 409 2Nd St Lumberton, NC.
    What is the asking price?
    The asking price for this property is $525,000.
    What are key features of this property?
    This property features: $525,000 asking price.; 7,030 square foot office building.; Class C property.
    (919) 920-2140
    Request Owner's contact information
    409 2Nd St Lumberton, NC 28358
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    Lumberton, NC 28358
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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
    409 2Nd St Lumberton, NC 28358
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    We can help!
    Listing Contact
    Susan Evans
    Susan Evans
    Real Estate License ID: NC 93980
    (919) 920-2140
    Learn more
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