Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1648 Memorial Dr Burlington, NC 27215-3507

    • Office buildings
    • 4,275 SF
    • 0.68 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-1543659
    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

    • Redwallet / Loan Service
    • Great Gold Party / Big Box & Wholesale Store / (Bike/Boat/Book/etc) Store

    Property Details for 1648 Memorial Dr

    Year built
    1975
    Lot size
    0.68 lot acres
    Property size
    4,275 SF
    Zone code
    R OI
    Property type
    Office buildings
    APN
    123562
    APU
    123562

    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
    Burlington
    County
    Alamance
    State
    North Carolina
    Longitude
    -79.461
    Latitude
    36.0941
    CBSA code
    15500
    CBSA name
    BURLINGTON, NC METROPOLITAN 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
    $1,308
    $63,498
    $239,192
    $302,690
    -
    $63,498
    $239,192
    $302,690

    Comparable in this City

    • Value Estimation by Request
      1,584 SF

      3011 Church St

      OFFICE BUILDING • 1,584 SF
      3011 Church St, Burlington, NC 27215-5154
      View Details
    • Value Estimation by Request
      1,746 SF

      2915 Cabin Rd

      OFFICE BUILDING • 1,746 SF
      2915 Cabin Rd, Burlington, NC 27215
      View Details
    • Value Estimation by Request
      3,444 SF

      1109 Tower Dr

      OFFICE BUILDING • 3,444 SF
      1109 Tower Dr, Burlington, NC 27215-4425
      View Details
    • Value Estimation by Request
      3,454 SF

      703 Hermitage Rd

      OFFICE BUILDING • 3,454 SF
      703 Hermitage Rd, Burlington, NC 27215
      View Details
    • Value Estimation by Request
      1,308 SF

      2607 Holly Hl St Ste A

      OFFICE BUILDING • 1,308 SF
      2607 Holly Hl St Ste A, Burlington, NC 27215-5177
      View Details
    • Value Estimation by Request
      2,610 SF

      Kime St

      OFFICE BUILDING • 2,610 SF
      Kime St, Burlington, NC 27215
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      12,500 SF

      Office Building with Warehouse Space

      Office building with warehouse and adjacent pad for future building.
      2716 Troxler Rd, Burlington, NC 27215
      View Details
    • $690,000

      Multi-Office Investment Property in Burlington

      Commercial building with 10+ private offices in downtown Burlington.
      346 S Worth St, Burlington, NC 27215
      View Details
    • $1,750,000
      11,184 SF

      Downtown Burlington Office Building

      Spacious office building in downtown Burlington, North Carolina.
      508 S Lexington Ave, Burlington, NC 27215
      View Details
    • $495,000

      Downtown Two-Story Commercial Building

      Two-story commercial building in Downtown Burlington with B-3 zoning.
      412 S Main St, Burlington, NC 27215
      View Details
    • $99,900

      Versatile Commercial Building in Burlington

      Single-story commercial building with dual-unit potential in prime location.
      509 Trollinger St, Burlington, NC 27215
      View Details
    • $255,000
      1,608 SF

      Burlington Commercial Property For Sale

      Commercial property with office spaces, kitchen, and detached garage.
      2012 Chapel Hill Rd, Burlington, NC 27215
      View Details

    Similar Nearby for Lease

    • $2,708 /Mo
      45,302 SF

      Burlington Office Building For Rent

      Professional office building with great visibility in West Burlington, NC.
      2432 S Church St Unit, Burlington, NC 27215
      View Details
    • $12 SF/Yr
      6,000 SF

      Well-Maintained Office Building For Sale

      8,800 SF office building near hospital and highway.
      2961 Crouse Ln, Burlington, NC 27215
      View Details
    • Contact for pricing
      10,000 SF

      Furnished Office Building For Lease

      Multi-level, furnished office building with parking and easy interstate access.
      813 Chapel Hill Rd, Burlington, NC 27215
      View Details
    • Contact for pricing

      Burlington Office Space For Rent

      42,639 SF built-out office space, former call center.
      309 Huffman Mill Rd, Burlington, NC 27215
      View Details
    • Contact for pricing
      150,275 SF

      Warehouse/Manufacturing/Office Space Available

      150,275 SF warehouse/manufacturing/office space for lease.
      2727 Tucker St, Burlington, NC 27215
      View Details
    • Contact for pricing

      Downtown Burlington Retail/Office Suites

      Versatile commercial property in downtown Burlington, NC.
      346 S Worth St, Burlington, NC 27215
      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.
    1648 Memorial Dr
    Burlington, NC 27215-3507
    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.
    Sign Up Successful!
    You now have access to more from Realmo!