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    1320 Burkemont Ave Morganton, NC 28655
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    1320 Burkemont Ave Morganton, NC 28655

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    • Commercial land
    For Sale
    $299,000
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    Commercial Land Near I-40 For Sale
    $299,000

    Commercial Land Near I-40

    Prime commercial land with high visibility and development potential.

    1320 Burkemont Ave, Morganton, NC 28655
    View Listing
    Property ID
    US53-3943019
    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

    • Commercial land

    Property Details for 1320 Burkemont Ave

    Property type
    Commercial land
    Property subtype
    Commercial real estate

    Description

    Prime commercial land situated in a highly desirable location along a major commercial corridor, just half a mile from I-40. With traffic counts at 20,000+ vpd, this site offers excellent visibility and accessibility. Adjacent to a Dollar General and surrounded by general retail, big box retail, grocery-anchored retail, multifamily, and hospitality, this flat and graded site is ready for immediate development. The owner is also open to considering a build-to-suit arrangement for the right long term tenant.

    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
    Morganton
    County
    Burke
    State
    North Carolina
    Longitude
    -81.6999291
    Latitude
    35.7124389

    Comparable in this City

    • Contact for pricing

      Vacant Lot in Downtown Morganton

      Vacant level lot in downtown Morganton for commercial development.
      S Sterling St S, Morganton, NC 28655
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      0.40 Acres

      Commercial Lot Near I-40

      0.4 acre commercial lot near I-40 and national retailers.
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      Corner Land Parcel For Sale

      3.46-acre corner land parcel suitable for retail uses.
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      Spacious Commercial Building on Large Lot

      30,000+ SQFT commercial building on E Meeting St, Morganton, NC.
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      Downtown Morganton Corner Lot

      Prime 0.79-acre corner lot in Morganton's central business district.
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      2.8 AC Commercial Land Available

      2.8 AC commercial land with high visibility near I-40.
      2006 S Sterling St, Morganton, NC 28655
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    Similar Nearby for Sale

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      Vacant Lot in Downtown Morganton

      Vacant level lot in downtown Morganton for commercial development.
      S Sterling St S, Morganton, NC 28655
      View Details
    • $199,000
      0.40 Acres

      Commercial Lot Near I-40

      0.4 acre commercial lot near I-40 and national retailers.
      Burkemont Ave, Morganton, NC 28655
      View Details
    • Contact for pricing

      Corner Land Parcel For Sale

      3.46-acre corner land parcel suitable for retail uses.
      1164 Piedmont Rd, Morganton, NC 28655
      View Details
    • $599,999

      Spacious Commercial Building on Large Lot

      30,000+ SQFT commercial building on E Meeting St, Morganton, NC.
      618 E Meeting St, Morganton, NC 28655
      View Details
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      Downtown Morganton Corner Lot

      Prime 0.79-acre corner lot in Morganton's central business district.
      E Concord St, Morganton, NC 28655
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    • $2,000,000

      2.8 AC Commercial Land Available

      2.8 AC commercial land with high visibility near I-40.
      2006 S Sterling St, Morganton, NC 28655
      View Details

    Similar Nearby for Lease

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      Prime Retail Pads on Highway

      1.4-acre property with high visibility and flexible options.
      833 N Green St, Morganton, NC 28655
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      Prime Industrial Property on Hwy 181

      9-acre property with industrial building for lease or sale.
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      3,500 SF

      Retail/Office Space in Morganton Station

      Versatile space in a vibrant mixed-use complex with high visibility.
      605 S Green St, Morganton, NC 28655
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    • $21 SF/Yr
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      Restaurant/Retail Space Available For Rent

      5,600 SF restaurant/retail space with tenant improvement allowance.
      115 E Union St, Morganton, NC 28655
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      1,381 SF

      Renovated Office/Retail Space Available

      Newly renovated office/retail space in a prime location.
      109 E Fleming Dr, Morganton, NC 28655
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    • $10 SF/Yr
      202,980 SF

      Fiddler's Run Retail Spaces

      Morganton, NC: Prime Retail Opportunity
      104 Fiddlers Run Blvd, Morganton, NC 28655
      View Details
    View Listing
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    Morganton, NC 28655
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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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