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    Property profile & analytics

    102 Morganton Heights Blvd Morganton, NC 28655

    • Commercial real estate
    • 18.14 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-2458771
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Mattress Firm Morganton / Furniture & Home Goods

    Property Details for 102 Morganton Heights Blvd

    Lot size
    18.14 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional 18.14-acre commercial land parcel presents a remarkable investment opportunity in the thriving Morganton, North Carolina market. Located at 102 Morganton Heights Boulevard, in Burke County, zip code 28655 (35.7294647, -81.7074077), this property boasts a highly desirable HID zoning designation, permitting both retail and multi-family development. Its strategic adjacency to the bustling Morganton Heights Shopping Center, a Walmart Supercenter-anchored regional power center, ensures significant daily traffic exposure and strong visibility. The property's proximity to downtown Morganton (just 2.5 miles away), a consistently growing area, further enhances its appeal. This prime location benefits from the advantages of being situated within an Opportunity Zone, offering potential tax incentives for qualified investors. The substantial lot size provides ample space for a large-scale development project, catering to the increasing demand for commercial and residential properties in this dynamic market. This is an exceptional chance to capitalize on the growth trajectory of Morganton and create a significant return on investment. Serious inquiries are encouraged.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Morganton
    County
    Burke
    State
    North Carolina
    Longitude
    -81.7074077
    Latitude
    35.7294647

    Comparable in this City

    • $360,000
      3.46 Acres

      Piedmont Road Commercial Land

      Morganton, NC retail development site.
      1164 Piedmont Rd, Morganton, NC 28655
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      1 SF

      Commercial Land Near I-40 Exit

      Located off I-40 Exit 105, near restaurants and hotels.
      111 Bush Dr, Morganton, NC 28655
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      5.6 Acres in Western NC

      Two adjacent parcels ideal for estate or multi-family compound.
      00 Snowhill Church Rd, Morganton, NC 28655
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      Residential Land in Gated Community

      10.33 acre residential land in gated community near Morganton.
      4027 Skyline Dr, Morganton, NC 28655
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      Secluded Timber Tract Near Park

      Two adjacent parcels ideal for recreation, retreat, or investment.
      00 Rich Mountain Rd, Morganton, NC 28655
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      Industrial Land Ready For Development

      38 acres of vacant industrial land in Morganton, NC.
      Dixie Blvd, Morganton, NC 28655
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    Similar Nearby for Sale

    • $360,000
      3.46 Acres

      Piedmont Road Commercial Land

      Morganton, NC retail development site.
      1164 Piedmont Rd, Morganton, NC 28655
      View Details
    • Contact for pricing
      1 SF

      Commercial Land Near I-40 Exit

      Located off I-40 Exit 105, near restaurants and hotels.
      111 Bush Dr, Morganton, NC 28655
      View Details
    • Contact for pricing

      5.6 Acres in Western NC

      Two adjacent parcels ideal for estate or multi-family compound.
      00 Snowhill Church Rd, Morganton, NC 28655
      View Details
    • Contact for pricing

      Residential Land in Gated Community

      10.33 acre residential land in gated community near Morganton.
      4027 Skyline Dr, Morganton, NC 28655
      View Details
    • Contact for pricing

      Secluded Timber Tract Near Park

      Two adjacent parcels ideal for recreation, retreat, or investment.
      00 Rich Mountain Rd, Morganton, NC 28655
      View Details
    • Contact for pricing

      Industrial Land Ready For Development

      38 acres of vacant industrial land in Morganton, NC.
      Dixie Blvd, Morganton, NC 28655
      View Details

    Similar Nearby for Lease

    • $0.09 SF/Yr
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      Morganton Industrial Property

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      Scenic Land Near Silver Fork Winery

      4.49-acre property with mountain views, near popular winery.
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      60,984 SF

      Morganton Retail Pad - Ground Lease

      High-traffic retail land, build-to-suit options.
      833 Green St, Morganton, NC 28655
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    • $22 SF/Yr
      3,500 SF

      Downtown Morganton Retail Space

      Prime Restaurant Location, Newly Renovated
      309 Green St, Morganton, NC 28655
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      76,665 SF

      Morganton Industrial Space Available

      76,665 SF industrial space with heavy power.
      1000 Chain Dr, Morganton, NC 28655
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      3,500 SF

      Retail/Office Space in Morganton Station

      Versatile space in a vibrant mixed-use complex with high visibility.
      605 S Green St, Morganton, NC 28655
      View Details
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    102 Morganton Heights Blvd
    Morganton, NC 28655
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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
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