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    509 Market St Smithfield, NC 27577

    Sponsored
    For Sale
    $1,200,000

    2.5 Acres, Prime Location, $1.2M

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 2.5-acre commercial land parcel is ideally situated in the heart of downtown Smithfield, North Carolina, at 509 E Market St, zip code 27577. Boasting 200 feet of road frontage along Market Street, this property offers unparalleled visibility and accessibility. The land is conveniently located for downtown living and shopping, providing easy access to local businesses and amenities. The property comprises two tracts, with one fronting Market Street and the other fronting S. 6th Street. Currently zoned R-8, the property presents a unique opportunity for development. The land value is $11.02 per square foot, totaling an asking price of $1,200,000. Its prime location and substantial road frontage make it an attractive investment for various commercial ventures. This is a rare chance to acquire a significant piece of property in a thriving downtown area, offering exceptional potential for future growth and development. The property's convenient location allows for easy pedestrian access to the downtown area's businesses.

    Property Features for 509 Market St

    General Information

    Property type
    Land
    Lot Size
    108,900 SF

    HighLights

    • $1,200,000 asking price for 2.5 acres of commercial land.
    • Located in the heart of downtown Smithfield, NC.
    • 200 feet of road frontage on Market Street, plus additional frontage on S. 6th Street.
    • R‑8 zoning.
    • $11.02/SF land value.
    Property Profile Location Intelligence

    Current Use by Public Records

    America Salon Beauty Salon

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office 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
    Smithfield
    County
    Johnston
    State
    North Carolina
    Longitude
    -78.34243622
    Latitude
    35.50971176

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    FAQs

    What type of property is this?
    Land - 2.5 Acres, Prime Location, $1.2M
    Where is this land located?
    The property is located at 509 Market St Smithfield, NC.
    What is the asking price?
    The asking price for this property is $1,200,000.
    What are key features of this property?
    This property features: $1,200,000 asking price for 2.5 acres of commercial land.; Located in the heart of downtown Smithfield, NC.; 200 feet of road frontage on Market Street, plus additional frontage on S. 6th Street.
    (919) 585-5327
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    509 Market St Smithfield, NC 27577
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    Smithfield, NC 27577
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    Realmo Value Estimation

    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.

    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.

    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
    509 Market St Smithfield, NC 27577
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