Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    117 Tobacco Rd Wallace, NC 28466
    Back to Search
    Property profile & analytics

    117 Tobacco Rd Wallace, NC 28466

    View on Map
    • Land
    • 1.36 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 117 Tobacco Rd

    Lot size
    1.36 lot acres
    Property type
    Land

    Description

    This exceptional 1.36-acre commercial land parcel presents a unique investment opportunity in Wallace, North Carolina. Strategically situated adjacent to the First Bank at the Walmart Supercenter on Highway 41, this property benefits from exceptional visibility and high traffic counts. Its location offers unparalleled access to a substantial customer base, making it ideal for a variety of commercial ventures. The property's convenient proximity to the Interstate 40 interchange (approximately one mile away) further enhances its accessibility and appeal to businesses and customers alike. The address is 117 Tobacco Road, Wallace, NC 28466. The asking price for this prime commercial land is $420,000. This represents a significant opportunity to acquire a well-positioned parcel in a thriving retail corridor. The property is zoned for commercial use (specific zoning details should be independently verified). Given its location and size, this land parcel is suitable for a range of development projects, offering substantial potential for return on investment. Serious inquiries are encouraged to explore this exceptional opportunity further. The property is located in Duplin County.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Wallace
    County
    Duplin
    State
    North Carolina
    Longitude
    -77.9674
    Latitude
    34.7418

    Comparable in this City

    • Value Estimation by Request
      1.37 Acres

      108 Tobacco Rd

      Land • 1.37 Acres
      108 Tobacco Rd, Wallace, NC 28466
      View Details
    • Value Estimation by Request
      2.01 Acres

      112 Strawberry Ln

      Land • 2.01 Acres
      112 Strawberry Ln, Wallace, NC 28466
      View Details
    • Value Estimation by Request
      1.14 Acres

      Nc Hwy 41 & Tobacco Rd

      Land • 1 SF
      0 Nc Hwy 41 & Tobacco Rd, Wallace, NC 28466
      View Details
    • Value Estimation by Request
      10.00 Acres

      Nc-41

      Land • 10.00 Acres
      0 Nc-41, Wallace, NC 28466
      View Details
    • Value Estimation by Request
      1.77 Acres

      5561 Nc-41

      Land • 1.77 Acres
      5561 Nc-41, Wallace, NC 28466
      View Details
    • Value Estimation by Request
      1.14 Acres

      Nc Hwy 41 & Tobacco Rd

      Land • 1.14 Acres
      0 Nc Hwy 41 & Tobacco Rd, Wallace, NC 28466
      View Details

    Similar Nearby for Sale

    • New
      $44,900
      1.70 Acres

      Unrestricted Land in Wallace, NC

      1.7-acre unrestricted lot in Wallace, NC, ideal for building.
      Iron Mine Rd, Wallace, NC 28466
      View Details
    • $41,000

      Corner Lot in Golf Community

      Large corner lot in gated golf community near Wilmington.
      264 Red Fox Run Dr, Wallace, NC 28466
      View Details
    • $65,000
      20.00 Acres

      20 Acres Wooded Land, Wallace

      20-acre wooded tract ideal for building or recreation.
      Stokestown Rd, Wallace, NC 28466
      View Details
    • New
      Contact for pricing
      1.00 Acre

      Wallace, NC Land For Sale

      One acre lot perfect for quiet country living.
      Herring Loop Rd, Wallace, NC 28466
      View Details
    • $435,000
      144.00 Acres

      Wallace, NC Riverfront Woodland

      144 acres of woodland bordering the Northeast Cape Fear River.
      Stokestown Rd, Wallace, NC 28466
      View Details
    • Contact for pricing

      63.8 Acres in Wallace, NC

      Large acreage with road frontage, endless possibilities for development.
      8605 S Nc 41 Hwy, Wallace, NC 28466
      View Details

    Similar Nearby for Lease

    • $1,500 /Mo

      Highway Business Outparcel for Rent

      Outparcel on US Hwy 117 in Wallace Crossing Shopping Center.
      167 E Lanier St, Wallace, NC 28466
      View Details
    • $1,750 /Mo

      US Hwy 117 Outparcel

      Outparcel zoned for highway business with road frontage.
      768 NE Railroad St, Wallace, NC 28466
      View Details
    • $1,750 /Mo

      US Hwy 117 Outparcel

      Outparcel zoned for Highway Business with road frontage.
      724 NE Railroad St, Wallace, NC 28466
      View Details
    • Contact for pricing

      Royal Farms Corner Commercial Site

      10.8-acre commercial site near planned Royal Farms and retail corridor.
      758 E Southerland St - Nc Hwy 41, Wallace, NC 28466
      View Details
    • $10 SF/Yr
      66,000 SF

      Wallace Retail & Office Spaces

      Retail, office, flex warehouse, and RV parking spaces available for rent.
      715-805 N Norwood St, Wallace, NC 28466
      View Details
    • Contact for pricing

      Retail and Office Spaces Available

      Retail, office, flex warehouse, and self-storage spaces for lease.
      715 N Norwood St, Wallace, NC 28466
      View Details
    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.
    117 Tobacco Rd
    Wallace, NC 28466
    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
    117 Tobacco Rd, Wallace, NC, 28466
    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!