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    1203 Chicopee Rd Benson, NC 27504-2121
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    Property profile & analytics

    1203 Chicopee Rd, Benson, NC 27504-2121

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    • Industrial properties
    • 95,656 SF
    • 206.67 lot acres
    Off-Market
    Property ID
    US53-1571903
    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
    $4,775,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Berry Global / Industrial Manufacturer / Production Facility

    Property Details for 1203 Chicopee Rd

    Year built
    1975
    Lot size
    206.67 lot acres
    Zone code
    IND
    Property type
    Industrial properties
    APN
    01E10011B
    APU
    01E10011B

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Oct 7, 2021 — Chicopee INC — Deed · related $125k · Us Bank NA
    Apr 13, 2020 — Chicopee INC — Deed · related $375M · Us Bk
    Oct 18, 2019 — Chicopee INC — Loan Modification · related $1.3M · Credit Suisse Ag
    May 29, 2018 — Chicopee INC — Deed · related $500k · Us Bk
    Mar 20, 2017 — Chicopee INC — Loan Modification · related —
    Mar 30, 2011 — Chicopee INC — Deed Of Trust · related $567.5M · Wilmington Trust Co
    May 13, 2004 — Chicopee INC — Deed Of Trust · related $475M · Citicorp North America
    — — Chicopee INC — Loan Modification · related $30M · Citibank NA
    — — Chicopee INC — Loan Modification · related $862.5M · Wilmington Tr
    — — Chicopee INC — Deed Of Trust · related $1.3M · Us Bk
    — — Chicopee INC — Deed Of Trust · related $3M · Bank Of America
    — — Chicopee INC — Loan Modification · related $375M · Us Bk
    — — Chicopee INC — Loan Modification · related $500k · Us Bk

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $4,560,000
      Market price range: $1.37M - $4.56M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $7,200,000
      RESTAURANT
      $6,930,000
      AUTO REPAIR, GARAGE
      $6,745,000
      WAREHOUSE, STORAGE
      $5,645,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Benson
    County
    Johnston
    State
    North Carolina
    Longitude
    -78.555
    Latitude
    35.3628
    CBSA code
    39580
    CBSA name
    RALEIGH-CARY, 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
    2024
    $128,647
    $1,544,530
    $8,580,380
    $10,124,910
    -
    $1,544,530
    $8,580,380
    $10,124,910

    Comparable in this City

    • Value Estimation by Request
      3.00 Acres

      8957 Nc 96 Hwy

      Industrial properties
      8957 Nc 96 Hwy, Benson, NC 27504
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    • Value Estimation
      $1,325,000
      8,400 SF

      194 Federal Rd Ext

      MIXED USE (COMMERCIAL/INDUSTRIAL)
      194 Federal Rd Ext, Benson, NC 27504-9014
      View Details
    • Value Estimation by Request
      2,560 SF

      1089 Surles Rd

      MIXED USE (COMMERCIAL/INDUSTRIAL)
      1089 Surles Rd, Benson, NC 27504-7939
      View Details
    • Value Estimation by Request
      3,600 SF

      11 Nicole Dr

      MIXED USE (COMMERCIAL/INDUSTRIAL)
      11 Nicole Dr, Benson, NC 27504-8755
      View Details
    • Value Estimation
      $945,000
      6,057 SF

      634 Old Roberts Rd

      MIXED USE (COMMERCIAL/INDUSTRIAL)
      634 Old Roberts Rd, Benson, NC 27504-8006
      View Details
    • Value Estimation
      $1,085,000
      6,886 SF

      600 Old Roberts Rd

      MIXED USE (COMMERCIAL/INDUSTRIAL)
      600 Old Roberts Rd, Benson, NC 27504-8006
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Johnston County Industrial Warehouse

      Vacant warehouse perfect for owner operator; priced below replacement.
      8957 S Nc 96 Hwy, Benson, NC 27504
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      Pad Ready Manufacturing Facility

      270,734 SF pad ready for manufacturing, permits in hand.
      1230 Chicopee Rd, Benson, NC 27504
      View Details
    • Contact for pricing

      Pad-Ready Industrial Warehouse Site

      A large pad-ready industrial development site with permits in hand and strong access to I-95 and I-40 exits.
      1230 Chicopee Rd, Benson, NC 27504
      View Details
    • $139,000
      Pending

      Benson Land with Utilities

      3.63 acres with septic, power, well, and water access.
      471 Turlington Dr, Benson, NC 27504
      View Details
    • Contact for pricing

      Commercial Land in Benson ETJ

      6.45 acre commercial land with B-2 zoning.
      866 Tarheel Rd, Benson, NC 27504
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      Unrestricted Wooded Land For Sale

      5.847 acres of unrestricted wooded land with road frontage.
      2 Benson Hardee Rd, Benson, NC 27504
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    Similar Nearby for Lease

    • Contact for pricing

      Pad Ready Land For Rent

      Pad ready land available for rent with construction permits.
      1230 Chicopee Rd, Benson, NC 27504
      View Details
    • Contact for pricing
      1 SF

      Benson County Commercial Land

      Prime 2.19-acre commercial lot.
      0 Commercial Pkwy & Hwy 210, Benson, NC 27504
      View Details
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    Benson, NC 27504-2121
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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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    1203 Chicopee Rd, Benson, NC, 27504
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