Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    Amity Rd Asheboro, NC 27203

    Sponsored
    For Sale
    $695,000

    Prime Residential Development Land

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    402
    This exceptional 17.87-acre property, located at 0 Amity Road in Asheboro, North Carolina, presents a remarkable opportunity for residential development. Situated in Randolph County, zip code 27203, this fee simple land boasts a highly desirable location. The property is comprised of two parcels and offers significant potential for subdivision. The permitted zoning allows for a variety of residential development options, including RA6, R7.5, and R15 designations. This flexibility ensures a wide range of project possibilities, catering to diverse housing needs. Utilities are readily available, with water and sewer services accessible to the site. The asking price for this expansive tract is $695,000. Given its size, zoning, and convenient location, this land represents a compelling investment for developers seeking to capitalize on the growing residential market in Asheboro. The property's coordinates are 35.7189158 latitude and -79.8178733 longitude. Serious inquiries are encouraged.

    Property Features for 0 Amity Rd

    General Information

    Property type
    Land
    Lot Size
    778,417 SF

    We can help!

    Listing Contact
    Brad Gregory
    Brad Gregory

    Learn more

    HighLights

    • 17.87 acres of land.
    • Two parcels included.
    • Zoning: RA6, R7.5, and R15.
    • Water and sewer available.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Asheboro
    County
    Randolph
    State
    North Carolina
    Longitude
    -79.8178733
    Latitude
    35.7189158

    Nearby Similar for Sale

    • $675,000

      Turnkey Restaurant Opportunity For Sale

      Turnkey restaurant with full kitchen, drive-thru, and indoor/outdoor dining.
      3219 Old Nc Highway 49, Asheboro, NC 27205
      View Details
    • New
      $1,500,000

      Retail Location on East Dixie

      Retail building with high traffic and multi-tenant potential.
      1530 E Dixie Dr, Asheboro, NC 27203
      View Details
    • $2,700,000
      7,341 SF

      Ambulatory Surgery Center For Sale

      Leased to Moses Cone Hospital until December 2027.
      724 Thomas St, Asheboro, NC 27203
      View Details
    • $625,000
      2,554 SF

      Turnkey Restaurant Opportunity For Sale

      Ready-to-go restaurant with full kitchen, drive-thru, and dining areas.
      3219 Nc Highway 49, Asheboro, NC 27205
      View Details
    • $399,000

      Commercial Building with Warehouse Space

      Commercial building suited for service businesses or small-scale manufacturing.
      2244 Us Highway 64, Asheboro, NC 27203
      View Details
    • $8,875,000
      265,944 SF

      Asheboro Manufacturing/Industrial Property For Sale

      Manufacturing/Industrial property in Asheboro, NC, with strategic location.
      515 W Balfour Ave, Asheboro, NC 27203
      View Details
    • $349,900

      Downtown Asheboro Office Building

      Prime Asheboro Office Space - Great Location!
      379 Cox St, Asheboro, NC 27203
      View Details
    • Contact for pricing

      Asheboro Office Suite - Main Floor

      Spacious Office Suite, Great Location, $2500/Month
      515 Salisbury St, Asheboro, NC 27203
      View Details
    • $399,900
      5.40 Acres

      Asheboro Commercial Land Investment

      5.5 Acres, Multifamily Zoning, Owner Financing
      Salisbury St, Asheboro, NC 27203
      View Details
    • $395,000
      0.74 Acres

      Asheboro Industrial Lot - High Traffic

      Prime industrial land, high visibility, I-73/74 access.
      000 Nc Highway 49, Asheboro, NC 27205
      View Details
    • $515,000
      2.29 Acres

      Asheboro Retail Property - High Traffic

      Prime Retail Location, High Visibility, 2.29 Acres
      703 Fayetteville St, Asheboro, NC 27203
      View Details
    • $1,200,000
      2.43 Acres

      Asheboro Commercial Land Investment

      Prime 2.43-Acre Commercial Lot
      Us 64 Hwy, Asheboro, NC 27203
      View Details

    FAQs

    What type of property is this?
    Land - Prime Residential Development Land
    Where is this land located?
    The property is located at Amity Rd Asheboro, NC.
    What is the asking price?
    The asking price for this property is $695,000.
    What are key features of this property?
    This property features: 17.87 acres of land.; Two parcels included.; Zoning: RA6, R7.5, and R15.
    (919) 493-0395
    Request Owner's contact information
    Amity Rd Asheboro, NC 27203
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Amity Rd
    Asheboro, NC 27203
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Amity Rd Asheboro, NC 27203
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Brad Gregory
    Brad Gregory
    Real Estate License ID: NC 246939
    (919) 493-0395
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.