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    703 Chief Martin St Madison, NC 27025

    • Retail properties
    • 76,012 SF
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties

    Property Details for 703 Chief Martin St

    Property size
    76,012 SF
    Property type
    Retail properties
    Property subtype
    Retail space

    Description

    This exceptional retail property, located at 703 Chief Martin Street in Madison, North Carolina, offers a unique opportunity for businesses seeking flexible space options. Situated on a substantial 7.14-acre lot in Rockingham County, this multi-tenant storefront boasts a total building area of 76,012 square feet. Currently, there are 31,130 square feet of vacant space available, divisible into units ranging from a minimum of 4,998 square feet to a maximum contiguous space of 20,113 square feet. This presents a versatile opportunity for a single large tenant or multiple smaller businesses seeking a prominent location. The property's prime location in Madison, NC, zip code 27025, ensures high visibility and accessibility for customers. The building's design is well-suited for a variety of retail uses, offering ample space for display, storage, and customer interaction. This is an excellent chance to establish or expand your business in a thriving community. The property's size and layout provide significant potential for growth and customization to meet specific business needs. Serious inquiries are encouraged to explore this exceptional retail opportunity further. Contact us today to schedule a viewing and discuss your business requirements.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Madison
    County
    Rockingham
    State
    North Carolina
    Longitude
    -79.9725
    Latitude
    36.3949

    Comparable in this City

    • Value Estimation
      $70,000
      3,110 SF

      103 Murphy St

      RETAIL STORES (PERSONAL SERVICES) • 3,110 SF
      103 Murphy St, Madison, NC 27025
      View Details
    • Value Estimation
      $255,000
      1,960 SF

      7097 Nc Hwy 704

      RETAIL STORES (PERSONAL SERVICES) • 1,960 SF
      7097 Nc Hwy 704, Madison, NC 27025
      View Details
    • Value Estimation
      $270,000
      1,296 SF

      Hunter St

      RETAIL STORES (PERSONAL SERVICES) • 1,296 SF
      Hunter St, Madison, NC 27025
      View Details
    • Value Estimation
      $310,000
      10,100 SF

      102 Adams St

      RETAIL STORES (PERSONAL SERVICES) • 10,100 SF
      102 Adams St, Madison, NC 27025
      View Details
    • Value Estimation
      $560,000
      26,500 SF

      727 Hwy St

      RETAIL STORES (PERSONAL SERVICES) • 26,500 SF
      727 Hwy St, Madison, NC 27025-1507
      View Details
    • Value Estimation
      $260,000
      4,990 SF

      111 Murphy St

      RETAIL STORES (PERSONAL SERVICES) • 4,990 SF
      111 Murphy St, Madison, NC 27025-1923
      View Details

    Similar Nearby for Sale

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      Us Highway 311, Madison, NC 27025
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    • $560,000
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      108 Franklin St, Madison, NC 27025
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      Prime commercial lot with high visibility and easy access.
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    Similar Nearby for Lease

    • $4 SF/Yr
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      Industrial Space in Madison, NC

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      101,980 SF

      Madison Warehouse and Distribution Space

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      View Details
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    703 Chief Martin St
    Madison, NC 27025
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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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