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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    111 Bank St Sanford, NC 27332-9721

    • Car washes
    • 3,696 SF
    • 1.47 lot acres
    OFF-MARKET
    Last Sale
    Apr 20, 2023
    $530,000
    Value Estimations
    $535,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-2791439
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • JT Auto Center / Car Detailing Service / Used Car Dealer

    Property Details for 111 Bank St

    Year built
    2004
    Lot size
    1.47 lot acres
    Property size
    3,696 SF
    Property type
    Car washes
    APN
    9652-71-2110-00
    APU
    965271211000

    Description

    This exceptional 4,500-square-foot retail space is ideally situated at 111 Bank Street in Sanford, North Carolina, within Lee County. Currently vacant and ready for immediate occupancy, this single-tenant property presents a unique opportunity for businesses seeking a prominent location. The building's total square footage is 4,500 square feet, offering ample space for a variety of retail ventures. Its convenient location in Sanford provides excellent visibility and accessibility for customers. The property is classified as commercial retail and is perfect for a business seeking a standalone presence. The address is 111 Bank Street, Sanford, NC 27332, with GPS coordinates of 35.4565019 latitude and -79.1437188 longitude. This is a single-tenant space, eliminating the complexities of multi-tenant management. The property is available for lease, offering a blank canvas for a business to establish its brand and presence in a thriving community. The building's size and layout provide flexibility for customization to meet specific business needs. This is an excellent opportunity to secure a high-visibility retail location in a desirable area of Sanford. Serious inquiries are encouraged to explore this exceptional retail space.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $575,000
      ML approach
      $555,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $418,000
      Market price range: $127k - $419k
      AI Estimate
      $453,000
      Market price range: $167k - $453k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $400,000
      RETAIL STORES
      $350,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Sanford
    County
    Lee
    State
    North Carolina
    Longitude
    -79.1437
    Latitude
    35.4565
    CBSA code
    41820
    CBSA name
    SANFORD, NC MICROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $7,341
    $384,200
    $235,300
    $619,500
    -
    $384,200
    $235,300
    $619,500

    Comparable in this City

    • Value Estimation
      $220,000
      3,924 SF

      3120 Horner Blvd

      CAR WASH - AUTOMATED • 3,924 SF
      3120 Horner Blvd, Sanford, NC 27332-8039
      View Details
    • Value Estimation
      $270,000
      2,434 SF

      2835 Dalrymple St

      CAR WASH - SELF-SERVE • 2,434 SF
      2835 Dalrymple St, Sanford, NC 27332
      View Details
    • Value Estimation
      $310,000
      3,454 SF

      422 Main St

      CAR WASH - SELF-SERVE • 3,454 SF
      422 Main St, Sanford, NC 27332-6120
      View Details
    • Value Estimation by Request
      2,400 SF

      4452 Olivia Rd

      AUTO REPAIR, GARAGE • 2,400 SF
      4452 Olivia Rd, Sanford, NC 27332
      View Details
    • Value Estimation
      $245,000
      4,064 SF

      1732 Dixie Farm Rd

      AUTO REPAIR, GARAGE • 4,064 SF
      1732 Dixie Farm Rd, Sanford, NC 27332-6461
      View Details
    • Value Estimation
      $235,000
      1,008 SF

      438 White Hl Rd

      VEHICLE SALES, RENTALS • 1,008 SF
      438 White Hl Rd, Sanford, NC 27332-7542
      View Details

    Similar Nearby for Sale

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      Sanford Commercial Land For Sale

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      10-acre tract suitable for subdivision or residential development.
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    Similar Nearby for Lease

    • $526,980
      17,566 SF

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      Equipped automotive center with lifts, alignment machine, and tire equipment.
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    • $11 SF/Yr
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      View Details
    • $18,000 /Mo
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      Sanford Retail Space For Rent

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      352 Wilson Rd, Sanford, NC 27332
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    • Contact for pricing

      Freestanding Restaurant in Sanford, NC

      Freestanding second-generation restaurant with high visibility and ample parking.
      Sanford, NC 27332
      View Details
    • Contact for pricing
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      Shoppes at Sanford Retail Space

      Walmart-anchored shopping center; multiple spaces available.
      3294 South Pt, Sanford, NC 27332
      View Details
    • Contact for pricing
      1 SF

      Sanford Retail Center - Hwy 1 & Tramway Rd

      Prime Sanford Retail Land, Multiple Spaces Available
      0 Tramway Rd & Hwy 1, Sanford, NC 27332
      View Details
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    111 Bank St
    Sanford, NC 27332-9721
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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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