Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    115 Sweet Lilac Ln Mount Airy, NC 27030-6374

    • Garden apartment buildings
    • 4,551 SF
    • 1.46 lot acres
    OFF-MARKET
    Last Sale
    Dec 15, 2021
    $500,000
    Value Estimations
    $505,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-0019527
    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

    • Garden apartment buildings

    Property Details for 115 Sweet Lilac Ln

    Year built
    1969
    Lot size
    1.46 lot acres
    Property size
    4,551 SF
    Zone code
    RR
    Property type
    Garden apartment buildings
    APN
    5918-04-83-6829
    APU
    591804836829

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $685,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $516,000
      Market price range: $179k - $516k

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $395,000
      Current use
      COMMERCIAL (GENERAL)
      $485,000
      Change: +23% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $460,000
      Change: +17% Conversion: Difficult
      RETAIL STORES
      $445,000
      Change: +12% Conversion: Difficult
      MEDICAL BUILDING
      $405,000
      Change: +3% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Mount Airy
    County
    Surry
    State
    North Carolina
    Longitude
    -80.6364
    Latitude
    36.4423
    CBSA code
    34340
    CBSA name
    MOUNT AIRY, 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
    $2,890
    $26,280
    $344,790
    $371,070
    -
    $26,280
    $344,790
    $371,070

    Comparable in this City

    • Value Estimation by Request
      2,304 SF

      1101 Granite Rd

      GARDEN APT, COURT APT (5+ UNITS) • 2,304 SF
      1101 Granite Rd, Mount Airy, NC 27030-3615
      View Details
    • Value Estimation by Request
      10,748 SF

      341 Franklin St

      GARDEN APT, COURT APT (5+ UNITS) • 10,748 SF
      341 Franklin St, Mount Airy, NC 27030-4696
      View Details
    • Value Estimation by Request
      3,421 SF

      830 Willow St

      GARDEN APT, COURT APT (5+ UNITS) • 3,421 SF
      830 Willow St, Mount Airy, NC 27030-2866
      View Details
    • Value Estimation
      $975,000
      8,540 SF

      1007 Main St

      GARDEN APT, COURT APT (5+ UNITS) • 8,540 SF
      1007 Main St, Mount Airy, NC 27030-4761
      View Details
    • Value Estimation by Request
      2,453 SF

      209 Oakdale St

      GARDEN APT, COURT APT (5+ UNITS) • 2,453 SF
      209 Oakdale St, Mount Airy, NC 27030-2915
      View Details
    • Value Estimation by Request
      2,969 SF

      830 Willow Hl Cir

      GARDEN APT, COURT APT (5+ UNITS) • 2,969 SF
      830 Willow Hl Cir, Mount Airy, NC 27030-2744
      View Details

    Similar Nearby for Sale

    • $380,000
      0.72 Acres

      Mount Airy Triplex Opportunity

      Multifamily property near downtown Mount Airy with rental potential.
      234 Hylton St, Mount Airy, NC 27030
      View Details
    • $325,000

      Mount Airy Triplex with Garage

      Well-maintained triplex with income potential and detached four-car garage.
      1513 Pittman St, Mount Airy, NC 27030
      View Details
    • $350,000
      1,500 SF

      Mount Airy Office Building For Sale

      1,500 SF office building in Mt. Airy's business district.
      165 Renfro St, Mount Airy, NC 27030
      View Details
    • $295,000
      38.70 Acres

      38.7 Acres in Mount Airy

      38.7-acre homesite with mountain views and spring-fed creek.
      Tbd Doris Ave, Mount Airy, NC 27030
      View Details
    • $2,674,371
      10.29 Acres

      Mount Airy Development Opportunity

      10.29 acre tract with highway frontage in Mount Airy.
      W Pine St, Mount Airy, NC 27030
      View Details
    • Contact for pricing
      1,900 SF

      Mount Airy Medical Office Space

      1900 sq ft medical office space in Mount Airy.
      601 Willow St, Mount Airy, NC 27030
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      117,376 SF

      Mount Airy Retail Center Investment

      High-traffic retail space in NC.
      715 Independence Blvd, Mount Airy, NC 27030
      View Details
    • Contact for pricing
      207,542 SF

      Mayberry Mall: Retail Investment Opportunity

      Enclosed Mall, 16 Suites, 49,871 SF Vacant
      388 Frederick St, Mount Airy, NC 27030
      View Details
    • Contact for pricing

      Mount Airy Retail Space Available

      Retail building near Mt. Airy High School and Veterans Park.
      527 Lebanon St, Mount Airy, NC 27030
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    115 Sweet Lilac Ln
    Mount Airy, NC 27030-6374
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!