Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    198 Mallard Rd Smithfield, NC 27577-7103
    Property profile & analytics

    198 Mallard Rd, Smithfield, NC 27577-7103

    View on Map
    • Hotels
    • 39,042 SF
    • 12.91 lot acres
    Off-Market
    Last Sale Mar 20, 2024
    $1,511,000
    Property ID
    US53-0114695
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Village Motor Lodge / Hotel & Motel

    Property Details for 198 Mallard Rd

    Year built
    1961
    Lot size
    12.91 lot acres
    Zone code
    COM
    Property type
    Hotels
    Property subtype
    Motels
    APN
    15L11002A
    APU
    15L11002A

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Aug 20, 2018 $1,511,000 198 Mallard INC Vrg LLC Grant Deed $1.2M · Vrg LLC
    Jul 7, 2005 $2,050,000 Vrg LLC Danbar Warranty Deed $1.5M · Business Loan Center INC

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Smithfield
    County
    Johnston
    State
    North Carolina
    Longitude
    -78.3243
    Latitude
    35.5011
    CBSA code
    39580
    CBSA name
    RALEIGH-CARY, 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
    2024
    $19,745
    $1,405,900
    $186,460
    $1,592,360
    -
    $1,405,900
    $186,460
    $1,592,360

    Comparable in this City

    • Value Estimation
      $1,000,000
      41,378 SF

      170 Equity Dr

      HOTEL/MOTEL
      170 Equity Dr, Smithfield, NC 27577
      View Details
    • Value Estimation
      $1,130,000
      50,350 SF

      190 Equity Dr

      HOTEL/MOTEL
      190 Equity Dr, Smithfield, NC 27577-6034
      View Details
    • Value Estimation
      $5,900,000
      33,270 SF

      735 Outlet Ctr Dr

      HOTEL/MOTEL
      735 Outlet Ctr Dr, Smithfield, NC 27577-6015
      View Details
    • Value Estimation by Request
      14,445 SF

      125 Equity Dr

      HOTEL/MOTEL
      125 Equity Dr, Smithfield, NC 27577-6035
      View Details
    • Value Estimation
      $8,895,000
      45,949 SF

      250 Equity Dr

      HOTEL/MOTEL
      250 Equity Dr, Smithfield, NC 27577-6031
      View Details
    • Value Estimation
      $7,195,000
      47,716 SF

      809 Venture Dr

      HOTEL/MOTEL
      809 Venture Dr, Smithfield, NC 27577-4773
      View Details

    Similar Nearby for Sale

    • $249,500
      1.05 Acres

      Smithfield Commercial Land Opportunity

      High-traffic lot, development potential.
      1803 Brightleaf Blvd, Smithfield, NC 27577
      View Details
    • $585,000
      1,900 SF

      Commercial Land For Sale

      Commercial land available for sale in Smithfield, North Carolina.
      1475 W Market St, Smithfield, NC 27577
      View Details
    • Contact for pricing

      Commercial Land Near Carolina Outlets

      Commercial or light industrial land conveniently located near I-95.
      6 Peedin Rd, Smithfield, NC 27577
      View Details
    • Contact for pricing
      4,112 SF

      Versatile Commercial Space, Smithfield NC

      Commercial space suitable for automotive or retail businesses.
      1896 Mallard Rd, Smithfield, NC 27577
      View Details
    • Contact for pricing
      Pending

      New Townhomes in Smithfield Community

      New townhomes with modern amenities in Smithfield, North Carolina.
      137 Holton St, Smithfield, NC 27577
      View Details
    • Contact for pricing
      1,836 SF

      High-Visibility Commercial Property in Smithfield

      Exceptional commercial property with high visibility and excellent highway access.
      925 N Brightleaf Blvd, Smithfield, NC 27577
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Space For Lease

      Retail space available for lease in Smithfield, North Carolina.
      1104 N Brightleaf Blvd, Smithfield, NC 27577
      View Details
    • Contact for pricing
      129,138 SF

      Smithfield Warehouse Space Available

      129,138 sqft warehouse space for rent in Smithfield, NC.
      834 Brogden Rd, Smithfield, NC 27577
      View Details
    • Contact for pricing
      19,000 SF

      Airport Hangar and Office Space

      19,000 SF special purpose building for lease at Johnston County Airport.
      3149-C Swift Creek Rd, Smithfield, NC 27577
      View Details
    • Contact for pricing

      South Smithfield Warehouse Spaces Available

      Warehouse spaces in South Smithfield, easily accessible from major highways.
      711 E Rose St, Smithfield, NC 27577
      View Details
    • Contact for pricing

      Commercial Space in Smithfield, NC

      Spacious commercial property suitable for retail, office, or service tenants.
      134 S 3Rd St, Smithfield, NC 27577
      View Details
    • $9 SF/Yr

      Smithfield Flex Building For Rent

      10,000 SF flex building with office and warehouse space.
      4241 U.S Us Highway 70 E, Smithfield, NC 27577
      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.
    198 Mallard Rd
    Smithfield, NC 27577-7103
    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

    Thank You for Inquiry
    198 Mallard Rd, Smithfield, NC, 27577
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!