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    114 Washington St Williamston, NC 27892

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    114 Washington St Williamston, NC 27892

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    • Retail space
    • 21,943 SF
    Off-Market
    Property ID
    US53-4218974
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail space

    Property Details for 114 Washington St

    Property size
    21,943 SF
    Property type
    Retail space
    Property subtype
    Storefront properties

    Description

    This exceptional investment opportunity encompasses three buildings totaling 21,943 square feet situated on a 14,716 square foot lot at 114, 118, and 120 Washington Street in Williamston, North Carolina. Built between 1920 and 1934, these Class C properties are zoned CD and offer a unique blend of retail, creative office, and bar space. The buildings feature charming exposed brick interiors, hardwood flooring, and ample parking in nearby Trade/Commerce Street lots. Previously known as the historic Martin Supply Co. building, this property presents a prime chance to contribute to Williamston's exciting downtown revitalization. The town is actively implementing a comprehensive streetscape project, enhancing alleyways, and creating a walkable social district with green spaces, a community stage, and a plaza, all directly benefiting this property's location. The asking price is $349,900. This is an ideal opportunity for entrepreneurs seeking to establish new businesses, create co-working spaces, or develop housing options within a thriving community undergoing significant positive change. The two-story buildings offer substantial space and potential for a variety of uses. Don't miss this chance to be part of Williamston's exciting future.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Williamston
    County
    Martin
    State
    North Carolina
    Longitude
    -77.0559544
    Latitude
    35.8531428

    Comparable in this City

    • $39,500
      Pending

      Downtown Building with Storefront Showcase

      Downtown Williamston building with versatile potential uses and office space.
      105 W Main St, Williamston, NC 27892
      View Details
    • $445,000
      Pending

      Spacious Downtown Storefront with Warehouse

      Large storefront property with warehouse and ample parking.
      200 W Main St, Williamston, NC 27892
      View Details
    • $280,000
      1,080 SF

      Highly Visible Corner Commercial Lot

      Commercial lot in high-traffic area, suitable for various businesses.
      801 East Blvd, Williamston, NC 27892
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    • $160,000
      Pending

      Commercial Building in Prime Location

      Commercial building in Williamston, NC, with high traffic flow.
      801 Washington St, Williamston, NC 27892
      View Details
    • $445,000
      17,394 SF

      Prime Williamston Commercial Property

      Large lot, high-traffic location, great potential.
      200 Main St, Williamston, NC 27892
      View Details
    • $1,700,000
      Pending

      Commercial Property in Williamston, NC

      Commercial property for sale in Williamston, North Carolina.
      Rodgers School Rd, Williamston, NC 27892
      View Details

    Similar Nearby for Sale

    • $39,500
      Pending

      Downtown Building with Storefront Showcase

      Downtown Williamston building with versatile potential uses and office space.
      105 W Main St, Williamston, NC 27892
      View Details
    • $445,000
      Pending

      Spacious Downtown Storefront with Warehouse

      Large storefront property with warehouse and ample parking.
      200 W Main St, Williamston, NC 27892
      View Details
    • $280,000
      1,080 SF

      Highly Visible Corner Commercial Lot

      Commercial lot in high-traffic area, suitable for various businesses.
      801 East Blvd, Williamston, NC 27892
      View Details
    • $160,000
      Pending

      Commercial Building in Prime Location

      Commercial building in Williamston, NC, with high traffic flow.
      801 Washington St, Williamston, NC 27892
      View Details
    • $445,000
      17,394 SF

      Prime Williamston Commercial Property

      Large lot, high-traffic location, great potential.
      200 Main St, Williamston, NC 27892
      View Details
    • Contact for pricing
      0.48 Acres

      Residential Lot in White Oak

      Cleared 0.48-acre residential lot near Williamston, North Carolina.
      1089 White Oak Dr, Williamston, NC 27892
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,070 SF

      Retail Space in Williamston, NC

      Retail space available in shopping center anchored by Piggly Wiggly.
      908 Washington St, Williamston, NC 27892
      View Details
    • $3,500 /Mo
      3,652 SF

      Retail Building with Lease Option

      3,652 SF retail building with flexible lease and build-out options.
      615 Washington St, Williamston, NC 27892
      View Details
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    Williamston, NC 27892
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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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    114 Washington St, Williamston, NC, 27892

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