Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    1611 Andrews Rd Murphy, NC 28906-5100

    • Medical offices
    • 6,592 SF
    • 3.20 lot acres
    OFF-MARKET
    Last Sale
    Sep 01, 2021
    $2,044,500
    Value Estimations
    $2,200,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-4823896
    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

    • Medical offices

    Property Details for 1611 Andrews Rd

    Year built
    2006
    Construction
    WOOD
    Lot size
    3.20 lot acres
    Property size
    6,592 SF
    Zone code
    HB
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    550303224994000
    APU
    550303224994000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,200,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Murphy
    County
    Cherokee
    State
    North Carolina
    Longitude
    -84.0094
    Latitude
    35.1105

    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
    0
    $0.00
    $0.00
    $0.00
    $1,720,160
    -
    $896,000
    $824,160
    $1,720,160

    Comparable in this City

    • Value Estimation by Request
      7,614 SF

      183 Ledford St

      MEDICAL BUILDING • 7,614 SF
      183 Ledford St, Murphy, NC 28906-6213
      View Details
    • Value Estimation by Request
      4,033 SF

      4111 Us 64th Alt

      MEDICAL BUILDING • 4,033 SF
      4111 Us 64th Alt, Murphy, NC 28906-6845
      View Details
    • Value Estimation by Request
      6,570 SF

      96 Bill Hughes Ave

      MEDICAL BUILDING • 6,570 SF
      96 Bill Hughes Ave, Murphy, NC 28906-3169
      View Details
    • Value Estimation
      $675,000
      4,628 SF

      119 Natural Spgs Dr

      MEDICAL BUILDING • 4,628 SF
      119 Natural Spgs Dr, Murphy, NC 28906-2517
      View Details
    • Value Estimation by Request
      5,311 SF

      4451 Us 64th Alt

      MEDICAL BUILDING • 5,311 SF
      4451 Us 64th Alt, Murphy, NC 28906-6847
      View Details
    • Value Estimation by Request
      1,947 SF

      284 Hl St

      MEDICAL BUILDING • 1,947 SF
      284 Hl St, Murphy, NC 28906-3512
      View Details

    Similar Nearby for Sale

    • $228,800
      1,500 SF

      Commercial Building with Highway Frontage

      Versatile commercial building with excellent road frontage and visibility.
      63 Drew Taylor Rd, Murphy, NC 28906
      View Details
    • $1,150,000
      14,400 SF

      Versatile Commercial Office & Industrial Facility

      Prominent commercial property with office and industrial buildings on 1.52 acres.
      89 Sycamore St, Murphy, NC 28906
      View Details
    • $2,800,000
      177.00 Acres

      Murphy NC Commercial Development Opportunity

      Prime 177-Acre Commercial Land, Stunning Views
      216 Clubhouse Ct, Murphy, NC 28906
      View Details
    • Contact for pricing
      1.30 Acres

      Land with Mountain Views

      Build your dream home with mountain views in Murphy, NC.
      Outlook Rd, Murphy, NC 28906
      View Details
    • $6,500,000
      30 SF

      Prime Commercial Land Near Casino

      30.7 acre commercial property with direct Casino access.
      1-3 Snap-On Dr, Murphy, NC 28906
      View Details
    • $44,900
      1.53 Acres

      Scenic Mountain Getaway Land

      1.53+/- acre parcel for camping, RV, or cabin.
      00 Sol Ln, Murphy, NC 28906
      View Details

    Similar Nearby for Lease

    • $10 SF/Yr
      14,520 SF

      Murphy NC Commercial Space

      Prime Retail/Office Space Available
      1142 Us Highway 64, Murphy, NC 28906
      View Details
    • Contact for pricing
      2,140 SF

      Retail Space Near Walmart

      Retail space in Murphy Plaza, anchored by Walmart.
      2320 Us 19, Murphy, NC 28906
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1611 Andrews Rd
    Murphy, NC 28906-5100
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.