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    Property profile & analytics

    137 New St Spring Lake, NC 28390

    • Commercial real estate
    • 0.53 lot acres
    For Sale
    View listing
    $75,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-5354882
    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

    • Commercial real estate

    Property Details for 137 New St

    Lot size
    0.53 lot acres
    Property type
    Commercial real estate
    APN
    0502-50-8694.000

    Description

    This exceptional 0.53-acre property, located at 137 New Street in Spring Lake, North Carolina, presents a unique development opportunity. Situated in Cumberland County, with APN 0502-50-8694.000, this land parcel is zoned R6-Residential District, offering potential for rezoning to accommodate commercial uses. The property boasts a strategic location off the signalized intersection of N Bragg Boulevard and New Street, ensuring high visibility and accessibility. The lot comprises approximately 0.30 acres of wooded area and 0.23 acres of cleared land, ready for immediate development. Conveniently located near water and sewer lines, this site simplifies infrastructure connections, reducing development costs and timelines. The high traffic count along Bragg Boulevard further enhances the property's commercial viability. This is an ideal investment for developers seeking a versatile site with significant potential in a growing area. The asking price is $75,000. Don't miss this chance to acquire a prime piece of land in a desirable location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Spring Lake
    County
    Cumberland
    State
    North Carolina
    Longitude
    -78.980289
    Latitude
    35.1805809

    Comparable in this City

    • $165,000
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      Bragg Blvd Commercial Land Investment

      High-visibility, 0.46-acre commercial lot.
      1401 Bragg Blvd, Spring Lake, NC 28390
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    • $330,000

      Renovated Triplex Expansion Potential

      Renovated triplex in Spring Lake, NC, with expansion potential.
      310 Old Hertford Ln, Spring Lake, NC 28390
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    • New
      $199,000
      3.40 Acres

      Spring Lake Land For Sale

      3.4 acres in Spring Lake, NC, seller financing available.
      105 Micaville Cir, Spring Lake, NC 28390
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    • $259,900
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      Fairway Point Condo Living

      Move-in ready condo with modern features in gated community.
      260 Gallery Dr, Spring Lake, NC 28390
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    • $1,308,127

      Spring Lake Multifamily Investment Opportunity

      Turn-key, 16-unit property near Fort Liberty on 8 acres.
      1600 Easterling Dr, Spring Lake, NC 28390
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    • $259,900
      1,600 SF

      Fairway Point Condo with Amenities

      Move-in ready condo with fitness center access in gated community.
      260 Gallery Dr, Spring Lake, NC 28390
      View Details

    Similar Nearby for Sale

    • $165,000
      0.46 Acres

      Bragg Blvd Commercial Land Investment

      High-visibility, 0.46-acre commercial lot.
      1401 Bragg Blvd, Spring Lake, NC 28390
      View Details
    • $330,000

      Renovated Triplex Expansion Potential

      Renovated triplex in Spring Lake, NC, with expansion potential.
      310 Old Hertford Ln, Spring Lake, NC 28390
      View Details
    • New
      $199,000
      3.40 Acres

      Spring Lake Land For Sale

      3.4 acres in Spring Lake, NC, seller financing available.
      105 Micaville Cir, Spring Lake, NC 28390
      View Details
    • $259,900
      1,600 SF

      Fairway Point Condo Living

      Move-in ready condo with modern features in gated community.
      260 Gallery Dr, Spring Lake, NC 28390
      View Details
    • $1,308,127

      Spring Lake Multifamily Investment Opportunity

      Turn-key, 16-unit property near Fort Liberty on 8 acres.
      1600 Easterling Dr, Spring Lake, NC 28390
      View Details
    • $259,900
      1,600 SF

      Fairway Point Condo with Amenities

      Move-in ready condo with fitness center access in gated community.
      260 Gallery Dr, Spring Lake, NC 28390
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Land Available Near Fort Liberty

      Multiple outparcels for rent near Fort Liberty.
      Spring Lake, NC 28390
      View Details
    • $2,000 /Mo

      Retail Space in Spring Lake

      Corner retail space in a busy Spring Lake plaza.
      1185 N Bragg Blvd, Spring Lake, NC 28390
      View Details
    • $8 SF/Yr
      30,781 SF

      Spring Lake Retail Center

      Prime Spring Lake location, 30,781 sq ft.
      1060 Lillington Hwy, Spring Lake, NC 28390
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    • $1,600 /Mo

      Retail Space in Southwind Plaza

      1200 SF retail space in thriving Spring Lake plaza.
      1177 N Bragg Blvd, Spring Lake, NC 28390
      View Details
    • $1,800 /Mo

      Retail Space in Spring Lake

      Retail space in a thriving commercial center near Fort Liberty.
      1187 N Bragg Blvd, Spring Lake, NC 28390
      View Details
    • $8,200 /Mo

      Large Retail Space in Plaza

      8200 sqft retail space in busy Spring Lake plaza.
      1137 N Bragg Blvd, Spring Lake, NC 28390
      View Details
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    137 New St
    Spring Lake, NC 28390
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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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