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    1213 Freeman Dr Sanford, NC 27330
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    Property profile & analytics

    1213 Freeman Dr Sanford, NC 27330

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    • Residential income homes
    Off-Market
    Property ID
    US53-2651301
    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

    • Residential income homes

    Property Details for 1213 Freeman Dr

    Property type
    Residential income homes

    Description

    This exceptional investment opportunity presents a portfolio of eight single-family rental homes located in the heart of Sanford, North Carolina. Priced at $1,680,000, this portfolio comprises eight individual buildings, each a one-story, three-bedroom, one-bathroom residence. Currently undergoing complete renovations, these homes boast modern upgrades including new shaker cabinets, granite countertops, laminate flooring, and stainless steel appliances. Two of the properties are slated for completion around the beginning of October, with the remaining homes following shortly thereafter. The convenient Sanford location offers proximity to a variety of amenities, including restaurants, parks, and shopping centers. The portfolio includes properties located at 1201, 1203, 1205, 1207, 1209, 1211, and 1213 Freeman Drive, as well as 610 Pineland Drive. While professional photographs showcase the completed renovation at 1213 Freeman Drive, finishes may vary slightly across the other properties. Staged photos are for illustrative purposes only, highlighting the potential of each home. This is a turnkey investment opportunity ideal for adding significant value to a real estate portfolio. The properties are situated in Lee County, North Carolina, with a zip code of 27330.

    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
    Sanford
    County
    Lee
    State
    North Carolina
    Longitude
    -79.1732167
    Latitude
    35.4676308

    Comparable in this City

    • $450,000

      Lee County Land with Income

      17.6 acres with income-producing mobile homes in Lee County.
      4044 Chris Cole Rd, Sanford, NC 27330
      View Details
    • Contact for pricing

      Land Near Central Carolina Hospital

      1.494 acres of land suitable for office development.
      4 Central Dr, Sanford, NC 27330
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    • $399,900
      3,303 SF

      Commercial Building in Sanford, NC

      Commercial building suitable for daycare, office, wellness, or medical use.
      1480 Mcneill Rd, Sanford, NC 27330
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    • $939,000

      Estate with Pond and Acreage

      Spacious 4-bedroom estate on almost 10 acres with pond.
      2847 Pickard Rd, Sanford, NC 27330
      View Details
    • Contact for pricing

      Commercial Corner Lot on Thoroughfare

      Commercial corner lot with high traffic count in Sanford, NC.
      1707 S Horner Blvd, Sanford, NC 27330
      View Details

    Similar Nearby for Sale

    • $450,000

      Lee County Land with Income

      17.6 acres with income-producing mobile homes in Lee County.
      4044 Chris Cole Rd, Sanford, NC 27330
      View Details
    • Contact for pricing

      Land Near Central Carolina Hospital

      1.494 acres of land suitable for office development.
      4 Central Dr, Sanford, NC 27330
      View Details
    • $399,900
      3,303 SF

      Commercial Building in Sanford, NC

      Commercial building suitable for daycare, office, wellness, or medical use.
      1480 Mcneill Rd, Sanford, NC 27330
      View Details
    • $939,000

      Estate with Pond and Acreage

      Spacious 4-bedroom estate on almost 10 acres with pond.
      2847 Pickard Rd, Sanford, NC 27330
      View Details
    • Contact for pricing

      Commercial Corner Lot on Thoroughfare

      Commercial corner lot with high traffic count in Sanford, NC.
      1707 S Horner Blvd, Sanford, NC 27330
      View Details

    Similar Nearby for Lease

    • $9 SF/Yr

      Sanford Warehouse Space Available

      16,000 SF warehouse space for lease near BUS-421.
      3307 Lee Avenue Ext, Sanford, NC 27330
      View Details
    • Contact for pricing

      Sanford Industrial Facility For Lease

      Versatile industrial facility with warehouse, production, and operational space.
      5825 Clyde Rhyne Dr, Sanford, NC 27330
      View Details
    • $3,350 /Mo

      Unique Downtown Sanford Retail Space

      Renovated retail space with hardwood floors and exposed brick.
      102 S Steele St, Sanford, NC 27330
      View Details
    • Contact for pricing
      5,365 SF

      Free Standing Bank Building

      Bank building with drive-thru and redevelopment potential on 0.90-acre.
      1001 South Horner Blvd, Sanford, NC 27330
      View Details
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    Sanford, NC 27330
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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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