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    Property profile & analytics

    112 Garnett St Henderson, NC 27536

    • Retail space
    • 3,531 SF
    • 0.08 lot acres
    For Sale
    View listing
    $179,999
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-4346196
    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

    • Retail space

    Property Details for 112 Garnett St

    Year built
    1885
    Lot size
    0.08 lot acres
    Property size
    3,531 SF
    Property type
    Retail space
    APN
    0001 02011
    APU
    102011

    Description

    This exceptional retail property, located at 112 S Garnett Street in Henderson, North Carolina's historic district, presents a unique investment opportunity. Priced at $179,999, this 0.11-acre lot offers significant potential for redevelopment or renovation. The property is being sold "as-is," reflecting the need for repairs. A recent price reduction of $40,000 acknowledges the necessary work. The building currently features a ground-floor retail space, while the second floor is vacant and lacks electrical service. This presents a chance to add value through renovations and potentially expand the usable square footage. The property's location within the historic district offers considerable charm and potential for attracting a diverse clientele. Investors seeking a project with substantial upside will find this property particularly appealing. The "as-is" condition allows for creative vision and customization, making it ideal for those with a keen eye for renovation and a desire to contribute to the revitalization of a historic area. Serious inquiries are encouraged to explore the possibilities this unique property offers. The absence of electricity on the second floor presents a clear opportunity for improvement and expansion. The property's prime location within the historic district provides a strong foundation for a successful venture.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $290,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $220,000
      Market price range: $114k - $369k

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

    Location Insight

    • Map
    • Local Demand
    City
    Henderson
    County
    Vance
    State
    North Carolina
    Longitude
    -78.4032
    Latitude
    36.3272
    CBSA code
    25780
    CBSA name
    HENDERSON, 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
    2024
    $1,812
    $24,800
    $121,651
    $146,451
    -
    $24,800
    $121,651
    $146,451

    Comparable in this City

    • Value Estimation
      $275,000
      1,760 SF

      215 Williams St

      RETAIL STORES (PERSONAL SERVICES) • 1,760 SF
      215 Williams St, Henderson, NC 27536-4635
      View Details
    • Value Estimation
      $280,000
      3,388 SF

      141 Williams St

      RETAIL STORES (PERSONAL SERVICES) • 3,388 SF
      141 Williams St, Henderson, NC 27536-4633
      View Details
    • Value Estimation
      $275,000
      2,964 SF

      230 Montgomery St

      RETAIL STORES (PERSONAL SERVICES) • 2,964 SF
      230 Montgomery St, Henderson, NC 27536-4233
      View Details
    • Value Estimation
      $315,000
      6,822 SF

      400 Prosperity Dr

      RETAIL STORES (PERSONAL SERVICES) • 6,822 SF
      400 Prosperity Dr, Henderson, NC 27536-3574
      View Details
    • Value Estimation
      $285,000
      1,084 SF

      107 Rockspring St

      RETAIL STORES (PERSONAL SERVICES) • 1,084 SF
      107 Rockspring St, Henderson, NC 27536-3640
      View Details
    • Value Estimation
      $275,000
      1,274 SF

      154 Rose Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,274 SF
      154 Rose Ave, Henderson, NC 27536-4237
      View Details

    Similar Nearby for Sale

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      Popeyes NNN Investment Opportunity

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      Commercial Property in Henderson, NC

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    • $179,999
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      Henderson Retail Opportunity

      Historic District, Needs Repairs, High Potential
      112 Garnett St, Henderson, NC 27536
      View Details
    • $489,000
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      Henderson Retail Corner Lot

      High-traffic location, ample parking, great visibility.
      1202 Andrews Ave, Henderson, NC 27536
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    • Contact for pricing
      0.17 Acres

      Wooded Lot in Henderson, NC

      Gently sloping wooded lot within Henderson city limits.
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    • $150,000
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      Commercial Land in Henderson, NC

      Commercial land with road frontage in Henderson, North Carolina.
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    Similar Nearby for Lease

    • $1,520 /Mo
      2,027 SF

      Retail Space in Henderson, NC

      Retail space available in Food Lion anchored shopping center.
      1600 N Garnett St, Henderson, NC 27536
      View Details
    • $2,767 /Mo
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      Retail Space in Henderson, NC

      Retail space available in Food Lion anchored shopping center.
      1600 N Garnett St, Henderson, NC 27536
      View Details
    • $3,924 /Mo
      7,244 SF

      Retail Space Near I-85

      Retail space for lease in Henderson, North Carolina.
      1600 N Garnett St, Henderson, NC 27536
      View Details
    • $1,496 /Mo
      1,995 SF

      Retail Space in Henderson, NC

      Retail space available in Food Lion anchored shopping center.
      1600 N Garnett St, Henderson, NC 27536
      View Details
    • Contact for pricing

      Retail Space in Henderson, NC

      Fully leased retail property in a major shopping corridor.
      159 North Cooper Dr, Henderson, NC 27536
      View Details
    • Contact for pricing
      50,000 SF

      Cardinal Plaza Retail Space

      Henderson, NC retail center with high traffic.
      1405 Andrews Ave, Henderson, NC 27536
      View Details
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    112 Garnett St
    Henderson, NC 27536
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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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