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    1178 Us-21 State Road, NC 28676
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    1178 Us-21 State Road, NC 28676

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    • Land
    • 1.66 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 1178 Us-21

    Lot size
    1.66 lot acres
    Property type
    Land

    Description

    This exceptional 1.66-acre commercial land parcel presents a unique investment opportunity in Surry County, North Carolina. Strategically located on US Highway 21 in State Road, this property boasts a highly visible position diagonally across from a Dollar General store, ensuring significant exposure to a substantial daily traffic volume. According to the North Carolina Department of Transportation (NCDOT 2021 data), the Average Annual Daily Traffic (AADT) on this stretch of US-21 is 9000 vehicles. The property consists of three adjacent parcels, totaling approximately 1.66 acres, identified by APN numbers 4954-03-01-8387, 4954-03-11-0247, and 4954-03-11-0405. Its zoning is designated as HB. The property's convenient location offers easy access to nearby towns, including Elkin (10 minutes away), Roaring Gap (12 miles), the Blue Ridge Parkway (18 miles), and Sparta (23 miles). This prime commercial land is ideal for a variety of businesses seeking high visibility and convenient access to a large customer base. The asking price for this exceptional property is $69,900.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    State Road
    County
    Surry
    State
    North Carolina
    Longitude
    -80.864
    Latitude
    36.3222

    Comparable in this City

    • Value Estimation
      $1,575,000
      15.13 Acres

      2587 Pleasant Rdg Rd

      COMMERCIAL (GENERAL) • 15.13 Acres
      2587 Pleasant Rdg Rd, State Road, NC 28676-9318
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    • Value Estimation by Request
      648 SF

      1401 Adams Rdg Rd

      RETAIL STORES (PERSONAL SERVICES) • 648 SF
      1401 Adams Rdg Rd, State Road, NC 28676
      View Details
    • Value Estimation by Request
      400 SF

      3306 Poplar Spgs Rd

      RETAIL STORES (PERSONAL SERVICES) • 400 SF
      3306 Poplar Spgs Rd, State Road, NC 28676-8870
      View Details
    • Value Estimation
      $850,000
      5,180 SF

      541 Cc Cp Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 5,180 SF
      541 Cc Cp Rd, State Road, NC 28676
      View Details
    • Value Estimation by Request
      32.40 Acres

      969 Frst Dr

      MOBILE HOME PARK, TRAILER PARK • 32.40 Acres
      969 Frst Dr, State Road, NC 28676
      View Details
    • Value Estimation by Request
      3,000 SF

      143 Sturgill Ln

      WAREHOUSE, STORAGE • 3,000 SF
      143 Sturgill Ln, State Road, NC 28676
      View Details

    Similar Nearby for Sale

    • $49,000

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      Corner lot with open and wooded land near amenities.
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      Corner Lot Ready to Build

      Cleared corner lot ideal for building a dream home.
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      Sloping cleared lot perfect for building a dream home.
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    • $260,000
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      Prime Development Land on US 21

      1.65-acre development opportunity with high visibility on US 21.
      1178 Us Hwy 21, State Road, NC 28676
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      Cleared Lot Near State Road

      Cleared lot ready for building near Elkin and Stone Mountain.
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    State Road, NC 28676
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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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