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    3097 Nc-24 Biscoe, NC 27209
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    3097 Nc-24 Biscoe, NC 27209

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

    Current Use by Public Records

    • Land

    Property Details for 3097 Nc-24

    Lot size
    210.00 lot acres
    Property type
    Land
    Property subtype
    Industrial properties

    Description

    This exceptional 210-acre industrial land parcel in Biscoe, North Carolina, presents a unique development opportunity. Located in Montgomery County, near the intersection of NC-24 and NC-27, this site boasts General Industrial zoning and is ideally suited for automotive and battery-related projects. The property features existing water, sewer, and electric utilities, eliminating significant upfront infrastructure costs. With 396 existing parking spaces, the site is ready for immediate development. The planned expansion of Highway 24-27 to four lanes will further enhance accessibility and logistics. This location offers strategic proximity to major automotive manufacturing hubs and the Aberdeen Carolina & Western Railway transload yard in Candor, providing efficient transportation options. The site benefits from a competitive incentives package offered by Montgomery County, making it an even more attractive investment. Furthermore, the potential for future industrial growth is significant, with an additional 2,755 acres slated for development in the surrounding area. This presents a rare opportunity to secure a substantial land holding in a rapidly expanding industrial corridor. The property's size, infrastructure, and strategic location make it an ideal choice for large-scale industrial development. Contact us today to discuss this exceptional opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Biscoe
    County
    Montgomery
    State
    North Carolina
    Longitude
    -79.7565
    Latitude
    35.3606

    Comparable in this City

    • Value Estimation
      $5,215,000
      4.73 Acres

      Nc Hwy 51st E

      INDUSTRIAL (GENERAL) • 4.73 Acres
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    • Value Estimation by Request
      5,000 SF

      138 Coggins Rd

      LUMBERYARD, BUILDING MATERIALS • 5,000 SF
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    • Value Estimation
      $5,235,000
      13,624 SF

      307 Wright Rd

      INDUSTRIAL (GENERAL) • 13,624 SF
      307 Wright Rd, Biscoe, NC 27209-8095
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    • Value Estimation by Request
      8,837 SF

      Oak St

      INDUSTRIAL (GENERAL) • 8,837 SF
      Oak St, Biscoe, NC 27209
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    • Value Estimation
      $5,215,000
      0.27 Acres

      Nc Hwy 51st E

      INDUSTRIAL (GENERAL) • 0.27 Acres
      Nc Hwy 51st E, Biscoe, NC 27209
      View Details
    • Value Estimation by Request
      14.27 Acres

      199 Industrial Park

      INDUSTRIAL (GENERAL) • 14.27 Acres
      199 Industrial Park, Biscoe, NC 27209
      View Details

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    Similar Nearby for Lease

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      Retail Space Near Wal-Mart

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      Retail Space For Lease

      Retail space available for lease.
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    Biscoe, NC 27209
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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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