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    Commercial Site Near Camp Lejeune Title is generated by Realmo AI

    945 Old Folkstone Rd, Sneads Ferry, NC 28460

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    11.08 acre commercial site near US Marine Corps Base.

    Type:Land
    Lot size:
    11.08 Acres
    Added:
    Feb 11, 2022
    Days on Market:
    1561
    Last Refresh:
    Mar 17 at 1:14 pm

    Property Features for 945 Old Folkstone Rd

    General Information

    Standard status
    Active
    Lot size
    11.08 Acres
    Property subtype
    Land

    We can help!

    Listing Contact
    Frank Efird Jr.

    Listing agent Frank Efird Jr. License #NC C30323

    Listing office SVN | Efird Commercial Real Estate

    Listing date Feb 11, 2022

    Source Crexi

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of SVN | Efird Commercial Real Estate

    HighLights

    • 11.08 acre commercial site near Sneads Ferry
    • Located in a rapidly growing area (Jacksonville MSA) with over 80% population increase since 2000
    • Proximity to US Marine Corps Base Camp Lejeune South Gate and MARSOC
    • Camp Lejeune has a $3.5 Billion annual economic impact
    • Area population expected to surpass 20,000 by 2030
    • Camp Lejeune supplemented by six satellite facilities including Stone Bay

    Overview

    This 11.08-acre commercial site is located west of Sneads Ferry. The area has experienced a surge in development since 2000, with a population increase of over 80%. Rapid growth is expected to continue at more than 3% annually, adding over 17,000 new residents through 2040, surpassing 20,000 in total population by 2030. This growth has been driven by accessibility to the US Marine Corps Base Camp Lejeune South Gate at the New River Bridge & NC Hwy 172 and the expansion of the US Marine Corps Special Operations Command (MARSOC), which is in the last phase of consolidating all MARSOC personnel and equipment by the end of 2022 to Stone Bay, a satellite facility on the south side of Camp Lejeune off NC Hwy 210, a $220 million construction initiative. Camp Lejeune has a total economic impact of over $3.5 Billion annually. It includes 246 square miles with 14 miles of beaches for amphibious assault training, and its location between two NC deep-water ports, Wilmington & Morehead City, allow for fast deployments. The main base is supplemented by six satellite facilities: Marine Corps Air Station New River, Camp Geiger, Stone Bay, Courthouse Bay, Camp Johnson, and the Greater Sandy Run Training Area.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Hair Salon Nail Salon Auto Parts Store Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Sneads Ferry
    County
    Onslow
    State
    North Carolina
    Longitude
    -77.4401037
    Latitude
    34.5264461

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    FAQs

    What type of property is this?
    Commercial land - 11.08 acre commercial site near US Marine Corps Base.
    Where is this commercial land located?
    The property is located at 945 Old Folkstone Rd Sneads Ferry, NC.
    What is the asking price?
    The asking price for this property is $1,939,000.
    What are key features of this property?
    This property features: 11.08 acre commercial site near Sneads Ferry; Located in a rapidly growing area (Jacksonville MSA) with over 80% population increase since 2000; Proximity to US Marine Corps Base Camp Lejeune South Gate and MARSOC
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Frank Efird Jr.
    Real Estate License ID: NC C30323
    Learn More
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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.

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    945 Old Folkstone Rd, Sneads Ferry, NC 28460
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