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    202 Dr Donnie H Jones Jr Blvd Princeton, NC 27569
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    202 Dr Donnie H Jones Jr Blvd Princeton, NC 27569

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    • Retail properties & Spaces
    • 12,400 SF
    • 1.46 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 202 Dr Donnie H Jones Jr Blvd

    Year built
    1984
    Lot size
    1.46 lot acres
    Property size
    12,400 SF
    Property type
    Retail properties & Spaces
    Property subtype
    Grocery and convenience stores

    Description

    This 12,400 square foot former Piggly Wiggly grocery store in Princeton, NC, is available for $995,000. Built in 1984 and renovated in 2021, this single-story building features a steel frame with concrete block walls and a brick exterior. A new roof was installed approximately two years ago. The property sits on a 1.46-acre lot with 75 parking spaces and is zoned C-2. An 11' x 50' metal building (not included in square footage) houses a cooler and freezer. Grocery trade fixtures are available at buyer's discretion, making this a "plug and play" opportunity. Located at 202 Dr Donnie H Jones Jr Blvd W, it's conveniently situated near US 70 Hwy. The seller owns adjacent residential property (206 Elm St) and may include it in the sale. All reasonable offers will be considered. Detailed traffic data is available. Priced well below replacement cost, this property presents a strong investment opportunity with potential for repurposing.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Princeton
    County
    Johnston
    State
    North Carolina
    Longitude
    -78.1597
    Latitude
    35.4678

    Comparable in this City

    • Value Estimation by Request
      10,532 SF

      505 Dr Donnie H Jones Jr Blvd

      Individual retail properties • 10,532 SF
      505 Dr Donnie H Jones Jr Blvd, Princeton, NC 27569
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    • Value Estimation
      $2,555,000
      28,778 SF

      610 Doctor Donnie H Jones Jr E Blvd

      GROCERY, SUPERMARKET • 28,778 SF
      610 Doctor Donnie H Jones Jr E Blvd, Princeton, NC 27569-6809
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    • Value Estimation by Request
      2,016 SF

      9610 Us Hwy 70th Eb

      CONVENIENCE STORE • 2,016 SF
      9610 Us Hwy 70th Eb, Princeton, NC 27569-7400
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    • Value Estimation
      $560,000
      12,300 SF

      202 Doctor Donnie H Jones Jr W Blvd

      GROCERY, SUPERMARKET • 12,300 SF
      202 Doctor Donnie H Jones Jr W Blvd, Princeton, NC 27569-6817
      View Details
    • Value Estimation by Request
      13,000 SF

      620 Dr Donnie H Jones Jr Blvd

      Retail properties & Spaces • 13,000 SF
      620 Dr Donnie H Jones Jr Blvd, Princeton, NC 27569
      View Details
    • Value Estimation by Request
      252 SF

      70 Us Hwy

      BARBER, HAIR SALON • 252 SF
      70 Us Hwy, Princeton, NC 27569
      View Details

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    • Contact for pricing

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      13,000 SF retail building in rapidly growing Princeton, NC.
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    Princeton, NC 27569
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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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