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    7660 Nc-87 Graham, NC 27253
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    7660 Nc-87, Graham, NC 27253

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    • Self storage facilities
    • 1.70 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Self storage facilities

    Property Details for 7660 Nc-87

    Lot size
    1.70 lot acres
    Property type
    Self storage facilities

    Description

    This 1.7-acre fee-simple property in Alamance County, North Carolina (APN 156663), located at 7660 NC-87, Graham, NC 27253, presents a unique opportunity for self-storage development. Priced at $750,000, the site is zoned for self-storage (buyer to verify zoning). An approved stormwater permit, valid until 2031, is included. The seller provides approved civil and architectural plans for two climate-controlled buildings totaling approximately 34,000 net rentable square feet (NRSF). Significant pre-development work is complete, including surveys and environmental reports (copies provided), and structural drawings for the main building. This high-visibility location along S NC 87 Hwy, near the intersection of Old Greensboro Road, sees 3,785 vehicles daily. A new Dollar General is across the highway. The property benefits from Graham's strong population growth (6.9% increase between April 1, 2020, and July 1, 2023) and projected household growth within a five-mile radius (4.4% increase from 2024 to 2029). The site's proximity to downtown Graham and the Chatham Park planned community further enhances its appeal. No climate-controlled self-storage exists within eight miles, creating significant market demand.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Graham
    County
    Alamance
    State
    North Carolina
    Longitude
    -79.3063
    Latitude
    35.9054

    Comparable in this City

    • Value Estimation
      $2,205,000
      25,092 SF

      516 Maple St

      MINI-WAREHOUSE, STORAGE
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    • Value Estimation
      $1,470,000
      16,279 SF

      2390 Nc Hwy 54

      MINI-WAREHOUSE, STORAGE
      2390 Nc Hwy 54, Graham, NC 27253-9024
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    • Value Estimation
      $2,030,000
      22,100 SF

      513 Maple St

      MINI-WAREHOUSE, STORAGE
      513 Maple St, Graham, NC 27253-2931
      View Details
    • Value Estimation by Request
      5,540 SF

      Nc 54th Hwy

      MINI-WAREHOUSE, STORAGE
      Nc 54th Hwy, Graham, NC 27253
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    • Value Estimation by Request
      2,400 SF

      1050 Ivey Rd

      MINI-WAREHOUSE, STORAGE
      1050 Ivey Rd, Graham, NC 27253-3811
      View Details
    • Value Estimation by Request
      1,440 SF

      Railroad St

      WAREHOUSE, STORAGE
      Railroad St, Graham, NC 27253
      View Details

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      Office and Warehouse Space Available

      2024 SF building with office and warehouse space for sale.
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    • New
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      Graham, NC Industrial Opportunity

      12,740 SF industrial space on 0.78 acres for sale.
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      2,000 SF

      2,000 SQFT Industrial Building

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    Similar Nearby for Lease

    • $27,000
      66,041 SF

      Graham Commercial Property For Rent

      Commercial property available for lease in Graham, North Carolina.
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    • $3,300 /Mo
      2,000 SF

      Office and Warehouse Space Available

      2024 SF office/warehouse space for lease in Graham, NC.
      112 E Gilbreath St, Graham, NC 27253
      View Details
    • Contact for pricing

      Retail Space on Main Street

      Retail space for rent in a growing retail corridor.
      832 S Main St, Graham, NC 27253
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    Graham, NC 27253
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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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