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    3737 Us Highway 1 Vass, NC 28394

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    For Sale
    Contact for pricing

    Prime location, high-potential investment.

    Property size:
    23,000 SF

    Property Features for 3737 Us Highway 1

    General Information

    Property type
    Retail properties
    Square Feet
    23,000 SF
    Lot Size
    314,503 SF

    Building Details

    Year Built
    1890
    Buildings
    3
    Stories
    1

    We can help!

    Listing Contact
    Holly Spofford Bell
    Holly Spofford Bell

    Listing Agency: Carolina Summit Group, LLC Listing Agent: Holly Spofford Bell

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

    Learn more

    Overview

    This exceptional mixed-use property in Vass, North Carolina, presents a significant investment opportunity. Located on a highly visible corner lot at the intersection of US Hwy 1 BUS and James Street, across from Vass-Lakeview Elementary School, this property boasts a total of approximately 23,000 square feet across three buildings situated on 7.22 acres of land. The main building, approximately 15,000 square feet, was constructed in 1907 and features multi-cross ventilation fans, a hanging propane heater, and a loading dock. The property also includes a large pavilion. The property benefits from public water and sewer, 3-phase power, two 200-amp services, and sprinklers. It is currently vacant. Zoning is mixed-use, with Parcel ID 00041122 (2.39 acres) and Parcel ID 20060260 (4.83 acres) both designated as Mixed Use. A portion of the rear area near the CSX railroad, which runs behind the property, is zoned R-1 and R-2. Note that a portion of the building sustained fire damage in 2021. This property offers unparalleled access to major transportation routes and is conveniently located within 15 minutes of Southern Pines/Pinehurst, 25 minutes of Fort Bragg, 35 minutes of the future VinFast site, and 60 minutes of the future Toyota site. The asking price is $1,300,000.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Real Estate Agency Law Firm Big Box & Wholesale Store Spa & Massage Center Auto Repair Shop Hair Salon Pharmacy Gym & Fitness Center Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Vass
    County
    Moore
    State
    North Carolina
    Longitude
    -79.28888253
    Latitude
    35.25013273

    Nearby Similar for Sale

    • $300,000
      3,525 SF

      Vass, NC Commercial Property

      Versatile 3,525 sq ft building on 0.73 acres.
      134 Aly St, Vass, NC 28394
      View Details
    • $1,300,000
      15,000 SF

      Prime Vass, NC Commercial Land

      7.22 Acres, 15,000 SF Building
      3737 Bus, Vass, NC 28394
      View Details

    FAQs

    What type of property is this?
    Retail property - Prime location, high-potential investment.
    Where is this retail property located?
    The property is located at 3737 Us Highway 1 Vass, NC.
    What is the asking price?
    The asking price for this property is $1,300,000.
    What are key features of this property?
    This property features: 23,000 SF total building area.; 15,000 SF primary building.; Multi-cross ventilation system.
    (910) 690-1065 Call to check price and availability
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    3737 Us Highway 1 Vass, NC 28394
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    Vass, NC 28394
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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
    3737 Us Highway 1 Vass, NC 28394
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    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Holly Spofford Bell
    Holly Spofford Bell
    Real Estate License ID: 252152
    (910) 690-1065 (910) 684-5353
    Learn more
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