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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1605 Herring NE Ave Wilson, NC 27893-6723

    • Grocery and convenience stores
    • 2,080 SF
    • 0.87 lot acres
    OFF-MARKET
    Last Sale
    Dec 13, 2021
    $1,485,000
    Value Estimations
    $1,225,000
    Show details
    Cap Rate Potential
    2%
    Grocery and convenience stores
    Location Intelligence
    Property ID
    US53-4457830
    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

    • Handy Mart / Atm / Coffee Shop
    • Shell / Gas Station / Convenience Store
    • Western Union / Money Transfer Service

    Property Details for 1605 Herring NE Ave

    Year built
    1983
    Lot size
    0.87 lot acres
    Property size
    2,080 SF
    Property type
    Grocery and convenience stores
    APN
    3732-04-1458.000
    APU
    3732041458000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,275,000
      ML approach
      $1,265,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,064,000
      Market price range: $254k - $1.21M

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

    Location Insight

    • Map
    • Local Demand
    City
    Wilson
    County
    Wilson
    State
    North Carolina
    Longitude
    -77.8876
    Latitude
    35.7355
    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
    $2,147
    $170,536
    $134,937
    $305,473
    -
    $170,536
    $134,937
    $305,473

    Comparable in this City

    • Value Estimation
      $185,000
      816 SF

      515 Singletary SE St

      CONVENIENCE STORE • 816 SF
      515 Singletary SE St, Wilson, NC 27893-6261
      View Details
    • Value Estimation
      $245,000
      1,722 SF

      405 Canal NE St

      CONVENIENCE STORE • 1,722 SF
      405 Canal NE St, Wilson, NC 27893-4307
      View Details
    • Value Estimation
      $255,000
      2,192 SF

      5000 Frank Price Church Rd

      CONVENIENCE STORE • 2,192 SF
      5000 Frank Price Church Rd, Wilson, NC 27893-8030
      View Details
    • Value Estimation
      $285,000
      2,648 SF

      6558 Ward Blvd

      CONVENIENCE STORE • 2,648 SF
      6558 Ward Blvd, Wilson, NC 27893-6691
      View Details
    • Value Estimation
      $260,000
      4,971 SF

      2835 Frst Hls SW Rd

      CONVENIENCE STORE • 4,971 SF
      2835 Frst Hls SW Rd, Wilson, NC 27893-9296
      View Details
    • Value Estimation
      $230,000
      1,746 SF

      804 Nash SE St

      CONVENIENCE STORE • 1,746 SF
      804 Nash SE St, Wilson, NC 27893-5206
      View Details

    Similar Nearby for Sale

    • $715,000

      Ten-Unit Apartment Complex For Sale

      Ten-unit apartment complex with all units currently leased.
      506 Maplewood Ave, Wilson, NC 27893
      View Details
    • $199,900
      0.65 Acres

      Commercial Lot in High Traffic

      Commercial lot in Wilson, NC with many possibilities.
      4161 Us 301 Hwy S, Wilson, NC 27893
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    • $954,000
      Pending

      9.54 Acres in Wilson, NC

      9.54 acres of commercial land available in Wilson, NC.
      Lipscomb Rd E, Wilson, NC 27893
      View Details
    • $225,000
      1,950 SF

      Multifamily Property in Wilson, NC

      Two homes on one lot, ideal for income or multigenerational.
      714 Pender St S, Wilson, NC 27893
      View Details
    • $1,999,000
      14.27 Acres

      Wilson County Commercial Land

      14 Acres, Prime Development Site
      Forest Hills Rd, Wilson, NC 27893
      View Details
    • $1,300,000
      10,720 SF

      Wilson, NC Commercial Building

      10,720 SF, 0.5-Acre Lot, $1.3M
      1300 Goldsboro St, Wilson, NC 27893
      View Details

    Similar Nearby for Lease

    • $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
    • $3,000 /Mo
      6,867 SF

      Retail Space in Downtown Wilson

      Retail opportunity in high-traffic area near downtown Wilson.
      310 Nash St NE, Wilson, NC 27893
      View Details
    • $2,400 /Mo
      Pending

      Retail or Restaurant Space Available

      High-traffic shopping center space suitable for retail or restaurant.
      4000 Ward Blvd, Wilson, NC 27893
      View Details
    • $1,200 /Mo
      1,000 SF

      Downtown Wilson Commercial Leasing Opportunity

      High-visibility commercial space near downtown stadium, ideal for diverse businesses.
      1100 Downing St SW, Wilson, NC 27893
      View Details
    • $1,750 /Mo
      1,165 SF

      Restaurant Opportunity in Wilson, NC

      Restaurant space available in high-traffic shopping center near colleges.
      4000 Ward Blvd, 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
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    1605 Herring NE Ave
    Wilson, NC 27893-6723
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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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