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    Property profile & analytics

    1221 Carolina Ave Elizabeth City, NC 27909-5407

    • Office buildings
    • 1.35 lot acres
    OFF-MARKET
    Value Estimation
    $550,000
    Last Sale
    May 28, 2025
    $650,000
    Location Intelligence
    Property ID
    US53-4539316
    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

    • Office buildings

    Property Details for 1221 Carolina Ave

    Year built
    1968
    Construction
    TYPE NOT SPECIFIED
    Lot size
    1.35 lot acres
    Zone code
    AD1
    Property type
    Office buildings
    APN
    892310363721
    APU
    892310363721

    Description

    This exceptional 1.35-acre commercial property, located at 1221 Carolina Avenue in Elizabeth City, North Carolina, presents a unique investment opportunity. Boasting a substantial 14,295 square feet of space, this property is zoned AD1, offering a wide range of potential uses. The asking price is $650,000, translating to a price per square foot of $45.47. Originally constructed in 1968, the property's existing structure provides a solid foundation for redevelopment or repurposing. The ample lot size allows for significant flexibility in development plans. The property's location in Elizabeth City, Pasquotank County (zip code 27909), offers convenient access to local amenities and transportation routes. The property's Assessor's Parcel Number (APN) is 0010129. Preliminary work has already been undertaken, streamlining the process for future development. This property is ideal for investors seeking a versatile commercial space with significant upside potential. The property's size and zoning make it suitable for a variety of commercial ventures, ensuring a strong return on investment. Contact us today to learn more about this exciting opportunity.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $510,000

    • CAP approach

      CAP return
      Estimation
      6%
      $600,000
      6.5%
      $655,000
      7%
      $655,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $570,000
      Geo Method
      $655,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $515,000
      Retail
      $575,000
      Mixed-Use
      $585,000
      Hospitality
      $470,000
      Educational
      $485,000
      Residential Income
      $645,000
      Energy
      $515,000
      Income-Based Land
      $505,000
      Food Service
      $615,000

    Location Insight

    • Map
    • Local Demand
    City
    Elizabeth City
    County
    Pasquotank
    State
    North Carolina
    Longitude
    -76.2057
    Latitude
    36.292
    CBSA code
    21020
    CBSA name
    ELIZABETH CITY, NC MICROPOLITAN 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
    $0.00
    $0.00
    $0.00
    $721,022
    -
    $122,622
    $598,400
    $721,022

    Comparable in this City

    • Value Estimation by Request
      5.00 Acres

      315 Pritchard St

      OFFICE BUILDING • 5.00 Acres
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      View Details
    • Value Estimation by Request
      0.84 Acres

      135 Rich Blvd

      OFFICE BUILDING • 0.84 Acres
      135 Rich Blvd, Elizabeth City, NC 27909-5518
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    • Value Estimation by Request
      0.11 Acres

      312 Hughes Blvd

      OFFICE BUILDING • 0.11 Acres
      312 Hughes Blvd, Elizabeth City, NC 27909-4525
      View Details
    • Value Estimation by Request
      0.85 Acres

      312 Pritchard St

      OFFICE BUILDING • 0.85 Acres
      312 Pritchard St, Elizabeth City, NC 27909-4640
      View Details
    • Value Estimation by Request
      0.65 Acres

      124 Rich Blvd

      OFFICE BUILDING • 0.65 Acres
      124 Rich Blvd, Elizabeth City, NC 27909-5518
      View Details
    • Value Estimation by Request
      0.38 Acres

      524 Rd St

      OFFICE BUILDING • 0.38 Acres
      524 Rd St, Elizabeth City, NC 27909-4912
      View Details

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    1221 Carolina Ave
    Elizabeth City, NC 27909-5407
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    Realmo Value Estimation

    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.

    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.

    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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