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

    119 S Nc Hwy, NC

    • Strip malls
    • 24,461 SF
    • 2.35 lot acres
    OFF-MARKET
    Last Sale
    Jun 13, 2023
    $3,900,000
    Value Estimations
    $3,885,000
    Show details
    Cap Rate Potential
    4.3%
    Strip malls
    Location Intelligence
    Property ID
    US53-2054003
    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

    • Strip malls

    Property Details for 119 S

    Year built
    2007
    Lot size
    2.35 lot acres
    Property size
    24,461 SF
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    170518
    APU
    170518

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $4,040,000
      ML approach
      $3,850,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,890,000
      6.5%
      $2,665,000
      7%
      $2,475,000

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $4,885,000
      OFFICE BUILDING
      $3,415,000
      COMMERCIAL (GENERAL)
      $3,340,000
      RESTAURANT
      $2,865,000
      AUTO REPAIR, GARAGE
      $2,650,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Nc Hwy
    County
    Alamance
    State
    North Carolina
    Longitude
    -79.3007
    Latitude
    36.0626
    CBSA code
    15500
    CBSA name
    BURLINGTON, 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
    2023
    $27,240
    $669,200
    $2,727,255
    $3,396,455
    -
    $669,200
    $2,727,255
    $3,396,455

    Comparable in this City

    • Value Estimation by Request
      1,680 SF

      Webb, NC

      SHOPPING CENTER, STRIP CENTER • 1,680 SF
      Webb, NC
      View Details
    • Value Estimation by Request
      1,760 SF

      Moring8b, NC

      SHOPPING CENTER, STRIP CENTER • 1,760 SF
      41110, Moring8b, NC
      View Details
    • Value Estimation by Request
      8,060 SF

      4225 A D

      SHOPPING CENTER, STRIP CENTER • 8,060 SF
      4225 A D, Winterville Pw, NC
      View Details
    • Value Estimation
      $825,000
      6,563 SF

      Red Banks Rd, NC

      SHOPPING CENTER, STRIP CENTER • 6,563 SF
      Red Banks Rd, NC
      View Details
    • Value Estimation by Request
      2.09 Acres

      Smythewyck Dr, NC

      SHOPPING CENTER, STRIP CENTER • 2.09 Acres
      Smythewyck Dr, NC
      View Details
    • Value Estimation by Request
      1,340 SF

      Webb, NC

      SHOPPING CENTER, STRIP CENTER • 1,340 SF
      Webb, NC
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      4,484 SF

      Retail Space in University Place

      Retail space with pylon signage in a high-traffic area.
      8700 University Executive Park Dr, Charlotte, NC
      View Details
    • Contact for pricing
      1,400 SF

      Retail Space Near Oak Island

      Retail spaces for lease near Brunswick County beaches.
      Hwy 211, Bolivia, NC
      View Details
    • $1,500,000

      Corner Lot with Highway Business

      High-traffic corner lot suitable for various business ventures.
      4805 Shattalon Dr, Winston-Salem, NC
      View Details
    • Contact for pricing
      6,900 SF

      Retail and Office Center

      Retail, medical, and office center with greenway access.
      5765 Crevice Dr, Charlotte, NC
      View Details
    • Contact for pricing
      18,000 SF

      Retail and Office Center

      Entertainment and service-oriented retail, medical, and office center.
      5864 Coulee Ln, Harrisburg, NC
      View Details
    • Contact for pricing
      5,400 SF

      Retail Center Near Greenway Trails

      Retail center with frontage and connectivity to major roads.
      9241 Harwen Ln, Charlotte, NC
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,000 SF

      Retail Space in Wallace Corridor

      Retail space in Food Lion anchored shopping center for lease.
      5680 Old Nc 41 Hwy, Wallace, NC
      View Details
    • Contact for pricing
      1,400 SF

      Retail Space Near Food Lion

      Retail space available in neighborhood center anchored by Food Lion.
      9548 Mt Holly-Huntersville Rd, Huntersville, NC
      View Details
    • Contact for pricing
      3,007 SF

      Retail Space in Mooresville Commons

      Retail space available in high-traffic Mooresville Town Square.
      134 Mooresville Cmns Way, Davidson, NC
      View Details
    • $32 SF/Yr
      1,893 SF

      New Mixed-Use Development For Lease

      New construction mixed-use development featuring retail and Class-A office space.
      5020 J. Swain Blvd, Southport, NC
      View Details
    • Contact for pricing
      1,225 SF

      Retail Space Near Myrtle Beach

      Retail space in Publix-anchored shopping center near Myrtle Beach.
      200 Pilothouse Pl, Calabash, NC
      View Details
    • Contact for pricing
      2,400 SF

      Mint Hill Retail Space Available

      Retail space for lease in premium Mint Hill location.
      6912-6914 Matthews-Mint Hl Rd, Mint Hill, NC
      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.
    119 S
    Nc Hwy, NC
    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!