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    Plank Brg Rd Camden, NC 27921

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    Plank Brg Rd Camden, NC 27921

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    • Apartment buildings
    • 348,480 SF
    • 13.50 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Apartment buildings

    Property Details for 0 Plank Brg Rd

    Lot size
    13.50 lot acres
    Property size
    348,480 SF
    Property type
    Apartment buildings

    Description

    This exceptional 13.5-acre property presents a unique development opportunity in the heart of Camden, North Carolina. Eight acres comprise buildable uplands, ideally suited for a variety of commercial uses including apartments, offices, medical facilities, or retail establishments. Infrastructure is already in place, including a retention pond, access to natural gas, county water, and sewer services, as well as high-quality internet access. The property is zoned Community Core, offering flexibility for diverse development plans. The land's strategic location provides convenient access to Elizabeth City and Albemarle Regional Medical Center (less than 10 minutes away), and is within an hour's drive of both the Outer Banks and Hampton Roads, Virginia. This significant parcel offers substantial potential for investors seeking a high-impact development project in a rapidly growing area. The asking price is $1,750,000, translating to $218,750 per acre. The total square footage is 348,480 square feet, with a price per square foot of $5.02. The property's APN is 028934012909930000. This is a rare opportunity to acquire a large, well-situated parcel with significant development potential in Camden County.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Camden
    County
    Camden
    State
    North Carolina
    Longitude
    -76.1738
    Latitude
    36.3281

    Comparable in this City

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      2,240 SF

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      BOARDING/ROOMING HOUSE • 2,240 SF
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    • Value Estimation by Request
      1,521 SF

      150 Us Hwy 158th E

      MOBILE HOME PARK, TRAILER PARK • 1,521 SF
      150 Us Hwy 158th E, Camden, NC 27921-7521
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    • Value Estimation by Request

      170 Hwy 158

      Land
      170 Hwy 158, Camden, NC 27921
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    • Value Estimation by Request
      840 SF

      259 Us Hwy 158th E

      GROCERY, SUPERMARKET • 840 SF
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    • Value Estimation by Request
      100 SF

      271 Us Hwy 158th E

      COMMERCIAL (GENERAL) • 100 SF
      271 Us Hwy 158th E, Camden, NC 27921-7524
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    • Value Estimation by Request
      996 SF

      145 Us Hwy 158th W, Unit 2

      COMMERCIAL (GENERAL) • 996 SF
      145 Us Hwy 158th W, Camden, NC 27921-6914
      View Details

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    Camden, NC 27921
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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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    Plank Brg Rd, Camden, NC, 27921

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