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    Property profile & analytics

    1506 Drexel N St Wilson, NC 27893

    • Warehouses
    • 7,360 SF
    • 5.14 lot acres
    OFF-MARKET
    Value Estimations
    $580,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-4162292
    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

    • Warehouses

    Property Details for 1506 Drexel N St

    Year built
    2002
    Lot size
    5.14 lot acres
    Property size
    7,360 SF
    Property type
    Warehouses
    Property subtype
    Self storage facilities
    APN
    3723-01-5889.000
    APU
    3723015889000

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $644,000
      Market price range: $135k - $645k
      AI Estimate
      $480,000
      Market price range: $128k - $481k

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $435,000
      Current use
      AUTO REPAIR, GARAGE
      $815,000
      Change: +88% Conversion: Easy
      RESTAURANT
      $785,000
      Change: +81% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $655,000
      Change: +51% Conversion: Difficult
      OFFICE BUILDING
      $655,000
      Change: +51% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $515,000
      Change: +18% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Wilson
    County
    Wilson
    State
    North Carolina
    Longitude
    -77.9191
    Latitude
    35.7562
    CBSA code
    48980
    CBSA name
    WILSON, 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
    2021
    $0.00
    $604,524
    $1,040,337
    $1,644,861
    -
    $604,524
    $1,040,337
    $1,644,861

    Comparable in this City

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      2,000 SF

      1011 Jordan S St

      MINI-WAREHOUSE, STORAGE • 2,000 SF
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    • Value Estimation by Request
      3,726 SF

      2718 Crabtree Rd

      MINI-WAREHOUSE, STORAGE • 3,726 SF
      2718 Crabtree Rd, Wilson, NC 27893
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    • Value Estimation
      $715,000
      4,800 SF

      4320 Old Raleigh Rd

      MINI-WAREHOUSE, STORAGE • 4,800 SF
      4320 Old Raleigh Rd, Wilson, NC 27893
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    • Value Estimation by Request
      6,144 SF

      715 Ldg S St

      MINI-WAREHOUSE, STORAGE • 6,144 SF
      715 Ldg S St, Wilson, NC 27893-6003
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    • Value Estimation by Request
      6,768 SF

      2710 Crabtree Rd

      MINI-WAREHOUSE, STORAGE • 6,768 SF
      2710 Crabtree Rd, Wilson, NC 27893
      View Details
    • Value Estimation by Request
      5,000 SF

      4227 Harold Rd

      MINI-WAREHOUSE, STORAGE • 5,000 SF
      4227 Harold Rd, Wilson, NC 27893-3286
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1.93 Acres

      Wilson, NC Redevelopment Site

      1.93-Acre Flex Space, High Visibility
      611 Goldsboro St, Wilson, NC 27893
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    • $1,700,000

      Prime Wilson County Land

      8.53 Acres, Commercial/Residential Potential
      6004 St Rose Church Rd, Wilson, NC 27893
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    • $60,000
      0.15 Acres

      Residential Lot in Historic District

      0.15 acre corner lot in Wilson's historic district.
      310 Maplewood Ave NE, Wilson, NC 27893
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    • $250,000
      1.89 Acres

      US-301 Highway Commercial Land

      1.89 Acres, High-Traffic Location, Wilson, NC
      2700 Us Highway 301, Wilson, NC 27893
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    • New
      $139,900
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      Wilson Land with Development Potential

      High-visibility land in Wilson, NC, with development options.
      700 Tarboro St W, Wilson, NC 27893
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    • New
      $45,000
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      Residential Land in Wilson, NC

      Residential land lot for sale in Wilson, North Carolina.
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    Similar Nearby for Lease

    • $4 SF/Yr
      197,366 SF

      Wilson County Warehouse Space

      151,108 SF Warehouse, Excellent Location
      3040 Black Creek Rd, Wilson, NC 27893
      View Details
    • Contact for pricing
      21,700 SF

      New Industrial Building in Wilson

      Class A industrial building with preleasing opportunities in Wilson, NC.
      2111 Industrial Park Dr SE, Wilson, NC 27893
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    • $35 SF/Yr
      1,015 SF

      Retail Space Near Interstate 95

      Retail spaces available near I-95, from 1,015 to 5,955 SF.
      5442 Lamm Rd, Wilson, NC 27893
      View Details
    • $25 SF/Yr
      75,000 SF

      Downtown Wilson Retail Space

      Prime Retail in Downtown Wilson, NC
      101 Pine St, Wilson, NC 27893
      View Details
    • New
      $1,200 /Mo
      1,000 SF

      Downtown Wilson Commercial Space Available

      High-visibility commercial space near stadium, ideal for retail or office.
      1100 Downing St SW, Wilson, NC 27893
      View Details
    • New
      $3,200 /Mo
      1,600 SF

      Spacious Private Office Space

      Turn-key office space in growing downtown Wilson, NC.
      118 Nash St SW, Wilson, NC 27893
      View Details
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    1506 Drexel N St
    Wilson, NC 27893
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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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