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    Property profile & analytics

    111 Wises Store Rd Murfreesboro, NC 27855

    • Warehouses
    • 6,000 SF
    • 1.18 lot acres
    For Sale
    View listing
    $799,000
    Last Sale
    Dec 16, 2020
    $320,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-4633555
    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

    • Warehouses

    Property Details for 111 Wises Store Rd

    Year built
    1991
    Construction
    FRAME
    Lot size
    1.18 lot acres
    Property size
    6,000 SF
    Zone code
    I
    Property type
    Warehouses
    APN
    5958-25-6467
    APU
    5958256467

    Description

    This exceptional 1.5-acre commercial lot presents a remarkable investment opportunity in the thriving town of Murfreesboro, North Carolina. Located at 111 WISES STORE Road, this property offers significant potential for a wide range of commercial ventures. The expansive acreage provides ample space for development, allowing for flexibility in design and functionality. The property's strategic location within Murfreesboro ensures high visibility and accessibility, making it an ideal site for businesses seeking a strong presence in a growing community. The asking price of $799,000 reflects the significant value and potential return on investment this property offers. Given the size and location, this land is suitable for a variety of commercial uses, from retail establishments and restaurants to office spaces and light industrial facilities. Prospective buyers are encouraged to conduct their own due diligence to determine the optimal use for this versatile property. The absence of existing structures allows for complete customization, enabling developers to create a space perfectly tailored to their specific needs and vision. This is a rare opportunity to acquire a substantial commercial parcel in a desirable location, offering significant long-term growth potential. Don't miss this chance to secure a prime piece of Murfreesboro real estate. Serious inquiries only.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $455,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Murfreesboro
    County
    Hertford
    State
    North Carolina
    Longitude
    -77.1212
    Latitude
    36.4432

    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
    $1,623
    $0.00
    $0.00
    $193,219
    -
    $0.00
    $0.00
    $193,219

    Comparable in this City

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      105 Ww St

      WAREHOUSE, STORAGE • 2,460 SF
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      313 Darlene St Extex

      WAREHOUSE, STORAGE • 800 SF
      313 Darlene St Extex, Murfreesboro, NC 27855-1438
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    • Value Estimation by Request
      2,750 SF

      Main St

      WAREHOUSE, STORAGE • 2,750 SF
      Main St, Murfreesboro, NC 27855
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    • Value Estimation by Request
      5,400 SF

      105 3rd St

      WAREHOUSE, STORAGE • 5,400 SF
      105 3rd St, Murfreesboro, NC 27855-1701
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    • Value Estimation
      $115,000
      20,736 SF

      522 Broad St

      WAREHOUSE, STORAGE • 20,736 SF
      522 Broad St, Murfreesboro, NC 27855-1502
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    • Value Estimation by Request
      1,800 SF

      225 Wises Store Rd

      WAREHOUSE, STORAGE • 1,800 SF
      225 Wises Store Rd, Murfreesboro, NC 27855
      View Details

    Similar Nearby for Sale

    • Contact for pricing
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    • $60,000
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      Residential Land in Murfreesboro, NC

      3.09 acres of unrestricted residential land for sale.
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    • New
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      483-acre tract with river frontage and timber value.
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    • $799,000
      1.50 Acres

      Prime Murfreesboro Commercial Land

      1.5 Acres, $799,000 - Great Potential
      111 Wises Store Rd, Murfreesboro, NC 27855
      View Details
    • $30,000
      0.90 Acres

      Residential Lot in Murfreesboro, NC

      Residential lot with no restrictions, Murfreesboro, North Carolina.
      Wise Store Rd, Murfreesboro, NC 27855
      View Details
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    111 Wises Store Rd
    Murfreesboro, NC 27855
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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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