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    Property profile & analytics

    118 Pope St Atkinson, NC 28421-8518

    • Warehouses
    • 2,457 SF
    • 3.00 lot acres
    OFF-MARKET
    Value Estimations
    $225,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-2433306
    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 118 Pope St

    Year built
    2002
    Lot size
    3.00 lot acres
    Property size
    2,457 SF
    Zone code
    RA
    Property type
    Warehouses
    APN
    2248-82-1880-0000
    APU
    22488218800000

    Description

    This exceptional commercial property, located at 118 S Pope St in Atkinson, North Carolina, presents a unique investment opportunity. The 2,200 square foot building, constructed in 2002, boasts a versatile layout encompassing 1,200 square feet of office space and 1,000 square feet of warehouse space. Situated on a 0.73-acre lot with 115 feet of frontage on South Pope Street, the property benefits from convenient access to Highway 53. Zoned B-1 Commercial, this property offers flexibility for a variety of commercial or even residential uses. Key features include a new air conditioning system and water heater, fiber optic internet access, and an off-site septic system. The property currently utilizes well water but has the potential to connect to Atkinson's municipal water supply. Deed restrictions are available upon request. The tax ID is 2248-82-1743-0000. Furthermore, there is the possibility of acquiring additional adjacent land. Priced at $198,000, this property offers a compelling combination of space, location, and zoning flexibility. Don't miss this chance to own a well-maintained and adaptable commercial property in a growing area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $225,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $230,000
      Market price range: $91.2k - $253k

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

    Location Insight

    • Map
    • Local Demand
    City
    Atkinson
    County
    Pender
    State
    North Carolina
    Longitude
    -78.175
    Latitude
    34.5252
    CBSA code
    48900
    CBSA name
    WILMINGTON, NC METROPOLITAN 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
    0
    $0.00
    $52,865
    $146,522
    $199,387
    -
    $52,865
    $146,522
    $199,387

    Comparable in this City

    • Value Estimation by Request
      22,858 SF

      300 Henry St

      Distribution properties • 22,858 SF
      300 Henry St, Atkinson, NC 28421
      View Details
    • Value Estimation by Request

      3972 Slocum Trl

      Distribution properties
      3972 Slocum Trl, Atkinson, NC 28421
      View Details
    • Value Estimation
      $580,000
      24,034 SF

      Atkinson, NC 28421

      MANUFACTURING (LIGHT) • 24,034 SF
      Atkinson, NC 28421
      View Details
    • Value Estimation
      $255,000
      1,492 SF

      201 Church St

      SERVICE STATION (FULL SERVICE) • 1,492 SF
      201 Church St, Atkinson, NC 28421-9201
      View Details
    • Value Estimation
      $235,000
      2,800 SF

      110 Main St

      CHARITABLE ORGANIZATION • 2,800 SF
      110 Main St, Atkinson, NC 28421
      View Details
    • Value Estimation
      $130,000
      968 SF

      2205 Pt Caswell Rd

      BOARDING/ROOMING HOUSE • 968 SF
      2205 Pt Caswell Rd, Atkinson, NC 28421-6006
      View Details

    Similar Nearby for Sale

    • $250,000

      Atkinson Commercial Land Opportunity

      .793-acre corner lot, endless potential.
      118 Church St, Atkinson, NC 28421
      View Details
    • $1,998,500

      Sprawling 72-Acre Land Opportunity

      72 acres of open land with homes and amenities.
      5350 Slocum Trl, Atkinson, NC 28421
      View Details
    • $41,727
      2.79 Acres

      Land in Atkinson, North Carolina

      2.79 acres of land ready for your vision.
      Newtown Loop Rd, Atkinson, NC 28421
      View Details
    • $55,500
      7.00 Acres

      Atkinson, NC Land Opportunity

      7 acres near Wilmington and Black River, Atkinson, NC.
      Beattys Bridge Rd, Atkinson, NC 28421
      View Details
    • $99,000

      Atkinson Commercial Land For Sale

      1.83 acres of commercial land with frontage on Highway 53.
      705 West Church St, Atkinson, NC 28421
      View Details
    • $50,000

      Pender County Land with River Access

      Versatile 5+ acre tract with deeded Black River access.
      5.61Ac Ivanhoe, Atkinson, NC 28421
      View Details

    Similar Nearby for Lease

    • $144 SF/Yr
      22,858 SF

      Atkinson Warehouse - 22,858 SF

      Historic NC Warehouse, Huge Potential
      300 Henry St, Atkinson, NC 28421
      View Details
    • $80,000
      8,000 SF

      Retail Opportunity in Atkinson, NC

      Freestanding 8,000 SF retail space available for lease.
      410 W Church St W, Atkinson, NC 28421
      View Details
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    118 Pope St
    Atkinson, NC 28421-8518
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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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