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    1402 Old Hwy Lake Waccamaw, NC 28450

    • Warehouses
    • 2,512 SF
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Warehouses

    Property Details for 1402 Old Hwy

    Property size
    2,512 SF
    Property type
    Warehouses
    Property subtype
    Land

    Description

    This exceptional 2,512-square-foot warehouse presents a rare opportunity in Lake Waccamaw, North Carolina. Situated at 1402 E Old Highway 74/76, this single-tenant industrial property offers a versatile space ideal for a variety of businesses. The building is conveniently located within the town limits, providing easy access to essential amenities. The property benefits from community water and sewer services, ensuring reliable infrastructure. Its strategic position along the 74/76 corridor offers convenient connectivity between Wilmington and Charlotte, placing it within a 20-45 minute drive of Wilmington, Elizabethtown, Whiteville, and Leland. This location is particularly attractive due to the limited availability of commercial space in Lake Waccamaw, creating high demand. The property's USDA eligibility for qualified buyers provides access to advantageous financing and potential renovation options through participating USDA lenders. This presents a unique opportunity for businesses seeking a well-situated, functional space in a growing community. Showings are available by appointment only for qualified buyers. The property is classified as industrial and land, with a single suite in a single tenancy arrangement. Located in Columbus County, North Carolina, with a zip code of 28450, this property offers a compelling investment prospect.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Lake Waccamaw
    County
    Columbus
    State
    North Carolina
    Longitude
    -78.4979
    Latitude
    34.2534

    Comparable in this City

    • Value Estimation by Request
      9,600 SF

      195 Pecan Ln Near

      WAREHOUSE, STORAGE • 9,600 SF
      195 Pecan Ln Near, Lake Waccamaw, NC 28450-2321
      View Details
    • Value Estimation by Request
      2,400 SF

      107 Dixon St

      MINI-WAREHOUSE, STORAGE • 2,400 SF
      107 Dixon St, Lake Waccamaw, NC 28450
      View Details
    • Value Estimation by Request
      3,000 SF

      201 Dixon St

      MINI-WAREHOUSE, STORAGE • 3,000 SF
      201 Dixon St, Lake Waccamaw, NC 28450
      View Details
    • Value Estimation
      $565,000
      34,995 SF

      345 Pecan Ln

      INDUSTRIAL (GENERAL) • 34,995 SF
      345 Pecan Ln, Lake Waccamaw, NC 28450
      View Details
    • Value Estimation by Request
      159.00 Acres

      600 Pecan Ln

      Land • 159.00 Acres
      600 Pecan Ln, Lake Waccamaw, NC 28450
      View Details
    • Value Estimation
      $1,795,000
      112,020 SF

      204 Top Tobacco Rd

      INDUSTRIAL (GENERAL) • 112,020 SF
      204 Top Tobacco Rd, Lake Waccamaw, NC 28450
      View Details

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    Lake Waccamaw, NC 28450
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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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