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    1405 Andrews Ave, Unit 1419 Henderson, NC 27536
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    Property profile & analytics

    1405 Andrews Ave, Unit 1419 Henderson, NC 27536

    View on Map
    • Strip malls
    • 55,334 SF
    • 8.69 lot acres
    Off-Market
    Property ID
    US53-4320233
    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
    $1,275,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Strip malls

    Property Details for 1405 Andrews Ave

    Year built
    1999
    Lot size
    8.69 lot acres
    Property size
    55,334 SF
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    0214 03017
    APU
    21403017

    Description

    Cardinal Plaza, located at 1405 E Andrews Ave in Henderson, NC (Vance County, zip code 27536), offers exceptional retail space in a thriving location. This multi-tenant property totals 50,000 square feet and currently has available spaces ranging from 1,500 to 33,000 square feet, perfect for a variety of retail businesses. The center enjoys a prime location in eastern North Carolina, just 40 miles northeast of Raleigh and 16 miles from the Virginia-North Carolina border, ensuring excellent accessibility for customers. Cardinal Plaza benefits from strong anchor tenants including Food Lion, Subway, and State Farm, attracting a significant volume of shoppers. The property boasts impressive customer loyalty, with a remarkable 7.91 visits per person, indicating a high level of repeat business and strong community engagement. This makes Cardinal Plaza an attractive investment opportunity for businesses seeking high visibility and a proven track record of success in a densely populated area. The property's strategic location and established tenant base provide a solid foundation for future growth and profitability. Contact us today to learn more about the available spaces and explore the potential of this exceptional retail center.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $1,105,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,450,000
      Market price range: $1.04M - $2.52M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $1,695,000
      Current use
      WAREHOUSE, STORAGE
      $1,640,000
      Change: -3% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Henderson
    County
    Vance
    State
    North Carolina
    Longitude
    -78.3817
    Latitude
    36.3202
    CBSA code
    25780
    CBSA name
    HENDERSON, 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
    $67,894
    $521,280
    $3,618,599
    $4,139,879
    -
    $521,280
    $3,618,599
    $4,139,879

    Comparable in this City

    • Value Estimation
      $1,865,000
      58,025 SF

      887 Beckford Dr

      SHOPPING CENTER, STRIP CENTER • 58,025 SF
      887 Beckford Dr, Henderson, NC 27536-5910
      View Details
    • Value Estimation
      $2,055,000
      9,720 SF

      401 Prosperity Dr

      SHOPPING CENTER, STRIP CENTER • 9,720 SF
      401 Prosperity Dr, Henderson, NC 27536-3575
      View Details
    • Value Estimation by Request
      15,600 SF

      1535 Dabney Dr

      SHOPPING CENTER, STRIP CENTER • 15,600 SF
      1535 Dabney Dr, Henderson, NC 27536-2907
      View Details
    • Value Estimation
      $1,810,000
      81,065 SF

      1520 Dabney Dr

      SHOPPING CENTER, STRIP CENTER • 81,065 SF
      1520 Dabney Dr, Henderson, NC 27536-2908
      View Details
    • Value Estimation
      $1,250,000
      54,090 SF

      1600 Garnett St

      SHOPPING CENTER, STRIP CENTER • 54,090 SF
      1600 Garnett St, Henderson, NC 27536-2717
      View Details
    • Value Estimation by Request
      8,680 SF

      208 Dabney Dr

      SHOPPING CENTER, STRIP CENTER • 8,680 SF
      208 Dabney Dr, Henderson, NC 27536-4034
      View Details

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      Commercially Zoned Property on Dabney Drive

      4.5-acre commercially zoned property with income-producing buildings.
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      Commercially Zoned Property on Dabney

      4.5-acre commercially zoned property with income-producing buildings.
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    Similar Nearby for Lease

    • Contact for pricing

      Retail Space in Henderson, NC

      Fully leased retail property in a major shopping corridor.
      159 North Cooper Dr, Henderson, NC 27536
      View Details
    • $2,767 /Mo
      4,150 SF

      Retail Space in Henderson, NC

      Retail space available in Food Lion anchored shopping center.
      1600 N Garnett St, Henderson, NC 27536
      View Details
    • $1,520 /Mo
      2,027 SF

      Retail Space in Henderson, NC

      Retail space available in Food Lion anchored shopping center.
      1600 N Garnett St, Henderson, NC 27536
      View Details
    • $3,924 /Mo
      7,244 SF

      Retail Space Near I-85

      Retail space for lease in Henderson, North Carolina.
      1600 N Garnett St, Henderson, NC 27536
      View Details
    • $1,496 /Mo
      1,995 SF

      Retail Space in Henderson, NC

      Retail space available in Food Lion anchored shopping center.
      1600 N Garnett St, Henderson, NC 27536
      View Details
    • $18 SF/Yr

      Prime Commercial Office Space Available

      Premium office spaces in Henderson's thriving commercial district on Dabney Drive.
      510/514 Dabney Drive Ext, Henderson, NC 27536
      View Details
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    Henderson, NC 27536
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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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