Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    120 Pritchard St Asheboro, NC 27203-4761
    Back to Search
    Property profile & analytics

    120 Pritchard St Asheboro, NC 27203-4761

    View on Map
    • Office buildings
    • 12,095 SF
    • 1.78 lot acres
    Off-Market
    Last Sale Mar 21, 2023
    $2,000,000
    Property ID
    US53-1127407
    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

    • QuarTek Corporation / Nanotechnology Engineering Service
    • Vesture Corporation / Industrial Manufacturer / Production Facility
    • Phase Change Solutions, Inc. - (HQ) / Research And Product Development
    • Phase Change Energy Solutions, Inc (HQ) / Industrial Manufacturer / Production Facility
    • Phase Change Energy Solutons, Inc. - (HQ) / Industrial Manufacturer / Production Facility

    Property Details for 120 Pritchard St

    Year built
    1968
    Lot size
    1.78 lot acres
    Property size
    12,095 SF
    Zone code
    I1 (CZ)
    Property type
    Office buildings
    APN
    7751964485
    APU
    7751964485

    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
    Asheboro
    County
    Randolph
    State
    North Carolina
    Longitude
    -79.8099
    Latitude
    35.7161
    CBSA code
    24660
    CBSA name
    GREENSBORO-HIGH POINT, 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
    $17,410
    $350,300
    $963,340
    $1,313,640
    -
    $350,300
    $963,340
    $1,313,640

    Comparable in this City

    • Value Estimation
      $2,690,000
      19,346 SF

      2525 Bank St

      OFFICE BUILDING • 19,346 SF
      2525 Bank St, Asheboro, NC 27203-3087
      View Details
    • Value Estimation by Request
      2,400 SF

      120 Church St

      OFFICE BUILDING • 2,400 SF
      120 Church St, Asheboro, NC 27203-5436
      View Details
    • Value Estimation
      $4,865,000
      138,047 SF

      733 Commerce Pl

      OFFICE BUILDING • 138,047 SF
      733 Commerce Pl, Asheboro, NC 27203-0501
      View Details
    • Value Estimation by Request
      5,118 SF

      231 Fayetteville St

      OFFICE BUILDING • 5,118 SF
      231 Fayetteville St, Asheboro, NC 27203-5724
      View Details
    • Value Estimation
      $885,000
      6,216 SF

      1029 Sunset Ave

      OFFICE BUILDING • 6,216 SF
      1029 Sunset Ave, Asheboro, NC 27203-5259
      View Details
    • Value Estimation by Request
      1,686 SF

      660 Fayetteville St

      OFFICE BUILDING • 1,686 SF
      660 Fayetteville St, Asheboro, NC 27203-4661
      View Details

    Similar Nearby for Sale

    • $349,900
      3,000 SF

      Office Building Near Downtown Asheboro

      Brick office building suitable for various uses near downtown.
      379 S Cox St, Asheboro, NC 27203
      View Details
    • Contact for pricing

      Asheboro Office Buildings For Sale

      Three buildings on over one acre in central business district.
      314 N Fayetteville St, Asheboro, NC 27203
      View Details
    • $1,699,000
      21,950 SF

      Asheboro Investment Property For Sale

      17,000 SF building with 4,900 SF office complex.
      2013 S Fayetteville St, Asheboro, NC 27203
      View Details
    • Contact for pricing

      Medical/Office Space For Lease

      Premier medical complex near Randolph Hospital with ample parking.
      610 N Fayetteville St, Asheboro, NC 27203
      View Details
    • Contact for pricing

      Asheboro Mixed-Use Investment Property

      17,000 SF building in a busy area.
      2013 S Fayetteville St, Asheboro, NC 27203
      View Details
    • Contact for pricing
      7,984 SF

      Retail Outparcel Near Regional Mall

      Retail property with corporate credit tenants and high foot traffic.
      1427 E Dixie Dr, Asheboro, NC 27203
      View Details

    Similar Nearby for Lease

    • New
      Contact for pricing
      4,548 SF

      Renovated Office Building with Canopy

      Spacious, renovated office building with high visibility and ample parking.
      272 Fayetteville St, Asheboro, NC 27203
      View Details
    • Contact for pricing
      6,000 SF

      Medical Office Space Available

      6000 sqft medical office space in downtown Asheboro.
      208 W Salisbury St, Asheboro, NC 27203
      View Details
    • Contact for pricing
      5,200 SF

      Asheboro Retail/Office Space Available

      Retail or office space available for lease in Asheboro.
      1640 Us Highway 64, Asheboro, NC 27203
      View Details
    • Contact for pricing

      Retail Center Near Downtown Asheboro

      Retail and office spaces available near Asheboro's medical district.
      338-372 N Fayetteville St, Asheboro, NC 27203
      View Details
    • Contact for pricing

      Freestanding Restaurant Space For Lease

      6,568 SF restaurant space with parking available for lease.
      2200 N Fayetteville St, Asheboro, NC 27203
      View Details
    • Contact for pricing

      Retail Space with Pylon Signage

      Retail space with high visibility and multiple access points.
      1330 E Dixie Dr, Asheboro, NC 27203
      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.
    120 Pritchard St
    Asheboro, NC 27203-4761
    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

    Thank You for Inquiry
    120 Pritchard St, Asheboro, NC, 27203
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!