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    Nc 87 Hwy Sanford, NC 27332

    Sponsored
    For Sale
    $325,000

    1.22-acre commercial warehouse site, high traffic.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    403
    This exceptional 1.22-acre commercial property is ideally situated on Highway 87 in Sanford, North Carolina, offering unparalleled visibility and accessibility. Located near the intersection of Highway 87 and Broadway Road, this site benefits from heavy daily traffic flow and excellent visibility. The property's strategic location places it in close proximity to established businesses, including a Dollar General and Hardee's located directly across the intersection. Furthermore, its proximity to Carolina Trace (approximately one mile away) and Fort Bragg Army Base (minutes away) provides significant advantages for potential development. The area is experiencing substantial growth, with several new residential communities and businesses within a five-mile radius. This presents a unique opportunity for investors and developers seeking a high-traffic location with strong potential for future growth. The property is zoned for commercial use and is ready for immediate development. The asking price for this prime commercial land is $325,000. The lot size is 1.22 acres. This is a rare opportunity to acquire a highly visible and strategically located commercial property in a rapidly developing area.

    Property Features for 0 Nc 87 Hwy

    General Information

    Property type
    Distribution properties
    Lot Size
    53,143 SF

    We can help!

    Listing Contact
    Adela Costelow
    Adela Costelow

    Learn more

    HighLights

    • 1.22‑acre commercial lot in Sanford, NC, on Highway 87 with high visibility and traffic.
    • Prime location near Highway 87 and Broadway Road intersection, across from Dollar General and Hardee's.
    • Close proximity to Carolina Trace and Fort Bragg Army Base.
    • Located in a rapidly growing area with new residential and commercial development.
    • Zoned commercial and ready for immediate development.
    • Asking price: $325,000.
    Property Profile Location Intelligence

    Current Use by Public Records

    Distribution centers

    Map

    City
    Sanford
    County
    Lee
    State
    North Carolina
    Longitude
    -79.0876622
    Latitude
    35.3107394

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    FAQs

    What type of property is this?
    Distribution property - 1.22-acre commercial warehouse site, high traffic.
    Where is this distribution property located?
    The property is located at Nc 87 Hwy Sanford, NC.
    What is the asking price?
    The asking price for this property is $325,000.
    What are key features of this property?
    This property features: 1.22-acre commercial lot in Sanford, NC, on Highway 87 with high visibility and traffic.; Prime location near Highway 87 and Broadway Road intersection, across from Dollar General and Hardee's.; Close proximity to Carolina Trace and Fort Bragg Army Base.
    Request Owner's contact information
    Nc 87 Hwy Sanford, NC 27332
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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
    Nc 87 Hwy Sanford, NC 27332
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    We can help!
    Listing Contact
    Adela Costelow
    Adela Costelow
    Real Estate License ID: NC
    Learn more
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