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    1752 Old Morganton Rd Southern Pines, NC 28387
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    1752 Old Morganton Rd, Southern Pines, NC 28387

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    • Retail properties & Spaces
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    • Retail properties & Spaces

    Property Details for 1752 Old Morganton Rd

    Property type
    Retail properties & Spaces
    Property subtype
    Land

    Description

    This exceptional ±0.48-acre outparcel, located at 1752 Old Morganton Road in Southern Pines, North Carolina, presents a unique investment opportunity. Currently zoned for commercial use, this property is ideally suited for a variety of retail developments. The site offers excellent visibility and accessibility from Old Morganton Road, a major thoroughfare in the area. The property is being offered as a ground lease or a build-to-suit opportunity, providing flexibility for potential tenants or developers. This allows for customization to meet specific business needs and ensures a tailored approach to development. The site's location within the thriving Southern Pines market offers strong potential for attracting a diverse range of businesses and customers. The property's size makes it suitable for a single retail tenant or a smaller multi-tenant development. With its prime location and flexible development options, this outparcel represents a compelling investment opportunity in a dynamic and growing market. The property is designated as a commercial outparcel and is currently available for lease or build-to-suit. The zip code is 28387. The property type is retail land, and the tenancy is multiple. One space is currently available. The latitude and longitude coordinates are 35.1739336 and -79.419417 respectively.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Southern Pines
    County
    Moore
    State
    North Carolina
    Longitude
    -79.4194
    Latitude
    35.1739

    Comparable in this City

    • Value Estimation by Request
      7,500 SF

      206 Commerce Ave

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      206 Commerce Ave, Southern Pines, NC 28387
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      1.32 Acres

      704 Morganton Rd

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      704 Morganton Rd, Southern Pines, NC 28387
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    • Value Estimation by Request
      85.00 Acres

      2164 State Rd

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      2164 State Rd, Southern Pines, NC 28387
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      2.86 Acres

      1035 Old Us Highway 1

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      1035 Old Us Highway 1, Southern Pines, NC 28387
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    • Value Estimation by Request
      0.09 Acres

      120 Indiana Ave

      RETAIL STORES (PERSONAL SERVICES)
      120 Indiana Ave, Southern Pines, NC 28387
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    • Value Estimation by Request
      0.61 Acres

      120 Pennsylvania Ave, Unit A

      RETAIL STORES (PERSONAL SERVICES)
      120 Pennsylvania Ave, Southern Pines, NC 28387-5429
      View Details

    Similar Nearby for Sale

    • $1,400,000
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    • $55,000
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    Similar Nearby for Lease

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      8,000 SF

      Retail Building in Morganton Park

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      1752 Old Morganton Rd, Southern Pines, NC 28387
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    • $14,167 /Mo
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      Southern Pines Retail Space Available

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      Retail Space in Southern Pines

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      Commercial Land in Southern Pines

      1.297-acre commercial land site for lease in a high-traffic area.
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      Retail Space in Southern Pines

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    • $825 /Mo
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      Downtown Southern Pines Office Space

      Single office in multi-tenant building, walking distance to amenities.
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    Southern Pines, NC 28387
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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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    1752 Old Morganton Rd, Southern Pines, NC, 28387
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