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    Nc-87 Sanford, NC 27332
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    Nc-87 Sanford, NC 27332

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    • Land
    • 13.24 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 0 Nc-87

    Lot size
    13.24 lot acres
    Property type
    Land

    Description

    This exceptional Sanford, NC investment opportunity comprises two strategically positioned parcels totaling 13.24 acres, ideal for retail development. The property boasts a prime location along a high-traffic retail corridor (approximately 22,500 vehicles per day), situated near various national retailers and adjacent to a multifamily development. The parcels offer a unique zoning combination: a significant portion is zoned C-2, while a section in the rear is zoned O&I, providing flexibility for diverse development plans. Parcel 9660-59-1002-00 encompasses approximately 2 acres, while parcel 9660-48-6384-00 covers approximately 11.24 acres. Future infrastructure improvements, including the proximity of the planned I-685, further enhance the long-term value and potential of this site. This location in Sanford, NC (zip code 27332) offers excellent visibility and accessibility, making it an attractive proposition for businesses seeking a strong retail presence. The property's address is NC-87, near Commerce Drive, across from a Subway. Contact for pricing.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Sanford
    County
    Harnett
    State
    North Carolina
    Longitude
    -79.1104
    Latitude
    35.3629

    Comparable in this City

    • Value Estimation by Request
      52.42 Acres

      4506 Lemon Springs Rd

      Land • 52.42 Acres
      4506 Lemon Springs Rd, Sanford, NC 27332
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    • Value Estimation by Request
      1.22 Acres

      Nc 87 Hwy

      Distribution properties • 1.22 Acres
      0 Nc 87 Hwy, Sanford, NC 27332
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    • Value Estimation by Request
      12.64 Acres

      1 Tramway Rd & Hwy

      Land • 1 SF
      1 Tramway Rd & Hwy, Sanford, NC 27332
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    • Value Estimation by Request
      30.00 Acres

      3356 Nc-87

      Land • 30.00 Acres
      3356 Nc-87, Sanford, NC 27332
      View Details
    • Value Estimation by Request
      10.20 Acres

      3905 Nc-87

      Land • 10.20 Acres
      3905 Nc-87, Sanford, NC 27332
      View Details
    • Value Estimation by Request
      8.70 Acres

      Broadway Rd

      Land • 8.70 Acres
      0 Broadway Rd, Sanford, NC 27332
      View Details

    Similar Nearby for Sale

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      Harnett County Acreage For Sale

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    • $36,500
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      Land in Carolina Trace

      Gently sloped lot in gated golf and lake community.
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      Sanford Land Parcel For Sale

      52.42 acres available near Downtown Sanford, Lee County.
      4506 Lemon Springs Rd, Sanford, NC 27332
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      Harnett County Land For Sale

      17 acres in rapidly growing Western Harnett County.
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    • $390,000

      17 Acres Cleared Land Sanford

      17 acres of cleared land with development potential.
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    • $340,000

      Harnett County Land Available

      17 acres in growing area with easy highway access.
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    Similar Nearby for Lease

    • Contact for pricing

      Land for Rent in Sanford

      Land available for rent in Sanford, North Carolina.
      Tramway Rd & Hwy 1, Sanford, NC 27332
      View Details
    • $175,660
      17,566 SF

      Former Acura Dealership For Lease

      Fully equipped automotive center with customer lounge and parts storage.
      3590 Nc 87, Sanford, NC 27332
      View Details
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    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
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