Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    2602 Erwin Rd Dunn, NC 28334

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2602 Erwin Rd Dunn, NC 28334

    View on Map
    • Land
    • 4.50 lot acres
    For Sale
    $450,000
    View Listing →
    Erwin Road Commercial Land For Sale
    $450,000

    Erwin Road Commercial Land

    4.5-acre commercial lot, prime location.

    2602 Erwin Rd, Dunn, NC 28334
    View Listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 2602 Erwin Rd

    Lot size
    4.50 lot acres
    Property type
    Land

    Description

    This exceptional 4.5-acre commercial land parcel, located at 2602 Erwin Road in Dunn, North Carolina (zip code 28334), presents a remarkable investment opportunity. Zoned R-6, this level lot offers significant potential for various development projects. With county water and sewer readily available, the site is conveniently situated within Erwin city limits. The property boasts approximately 196,020 square feet and features public road frontage on a two-lane state-maintained road. Utilities including electricity, gas, cable, and telephone are available on-site. Preliminary engineering plans for a 21-home development are available for review (plans not yet submitted for approval), showcasing the land's potential for residential construction. Alternatively, the expansive acreage could accommodate a variety of commercial ventures, including multi-family dwellings, duplexes, or storage facilities. The property is subject to zoning restrictions. An adjacent 2.5-acre parcel is also available for purchase (MLS#10028035). This property is priced at $450,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Dunn
    County
    Harnett
    State
    North Carolina
    Longitude
    -78.6525
    Latitude
    35.3187

    Comparable in this City

    • Value Estimation by Request
      4.90 Acres

      J And J Ln

      Land • 4.90 Acres
      0 J And J Ln, Dunn, NC 28334
      View Details
    • Value Estimation by Request
      7.03 Acres

      Jonesboro Rd

      Land • 7.03 Acres
      0 Jonesboro Rd, Dunn, NC 28334
      View Details
    • Value Estimation by Request
      30.82 Acres

      441 Long Branch Rd

      Land • 30.82 Acres
      441 Long Branch Rd, Dunn, NC 28334
      View Details
    • Value Estimation by Request
      1.33 Acres

      25 Riley Devereaux Ct

      Land • 1.33 Acres
      25 Riley Devereaux Ct, Plain View, NC 28334
      View Details
    • Value Estimation by Request
      1.17 Acres

      126 Olde Fry Ln

      Land • 1.17 Acres
      126 Olde Fry Ln, Plain View, NC 28334
      View Details
    • Value Estimation by Request
      4.91 Acres

      Pope Rd

      Land • 4.91 Acres
      0 Pope Rd, Dunn, NC 28334
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Land Near Dunn, NC

      Land available near Dunn, NC with utilities nearby.
      Chicken Farm Rd, Dunn, NC 28334
      View Details
    • Contact for pricing

      Land For Sale in Dunn

      Land available on Jonesboro Road, Dunn, North Carolina.
      Jonesboro Rd, Dunn, NC 28334
      View Details
    • $168,000
      5.99 Acres

      Spacious Land Tract in Dunn

      5.99-acre tract with road frontage and versatile potential uses.
      242 Hwy S, Dunn, NC 28334
      View Details
    • $58,000
      1.00 Acre

      Acre Lot in Johnston County

      One-acre lot centrally located between multiple cities.
      275 Raynor Sands Dr, Dunn, NC 28334
      View Details
    • $45,999
      1.67 Acres

      Unrestricted Lot Near Interstate 95

      1.7 acre lot near I-95 in Dunn, NC.
      4258 Us Highway 301, Dunn, NC 28334
      View Details
    • $450,000
      4.50 Acres

      Erwin Road Commercial Land

      4.5-acre commercial lot, prime location.
      2602 Erwin Rd, Dunn, NC 28334
      View Details

    Similar Nearby for Lease

    • $6,000 /Mo
      14,000 SF

      Available Commercial Space For Rent

      Commercial space available for rent in Dunn, North Carolina.
      1008 W Cumberland St, Dunn, NC 28334
      View Details
    • Contact for pricing

      Retail Space in Dunn, NC

      New retail space with high visibility and ample parking.
      2320 W Cumberland St, Dunn, NC 28334
      View Details
    • $7,650 /Mo

      Warehouse with Expansive Outdoor Storage

      5,000 SF warehouse on nearly 6 acres for lease.
      885 Bryant Rd, Dunn, NC 28334
      View Details
    • $2,100 /Mo
      1,800 SF

      Retail/Office Space in Dunn, NC

      Retail or office space for lease in a visible location.
      1004-B W Cumberland St, Dunn, NC 28334
      View Details
    • $6,000 /Mo
      14,000 SF

      Retail Space in Established Center

      14,000 SF space in busy retail center on US Hwy 421.
      1008 W Cumberland St, Dunn, NC 28334
      View Details
    • $60,000
      15,000 SF

      Versatile Commercial Space Available

      Adaptable commercial property suitable for various business operations.
      721 Tilghman Dr, Dunn, NC 28334
      View Details
    View Listing
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2602 Erwin Rd
    Dunn, NC 28334
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry

    2602 Erwin Rd, Dunn, NC, 28334

    letter with green check mark
    Check your email

    We sent you the

    agent's contact details. yellow underline

    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!