Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    201 N 2Nd St Smithfield, NC 27577
    Back to Search
    Property profile & analytics

    201 N 2Nd St, Smithfield, NC 27577

    View on Map
    • Investment properties
    • 4,440 SF
    • 0.25 lot acres
    For Sale
    $350,000
    View Listing →
    Historic Office Building For Sale For Sale
    $350,000
    4,253 SF

    Historic Office Building For Sale

    Charming 4,253 SF office space in historic Smithfield district.

    201 N Second Street, Smithfield, NC 27577
    View Listing
    Property ID
    US53-2207791
    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

    • Holland Jr Andrew / Law Firm
    • Global Insurance Solutions / Insurance Agency

    Property Details for 201 N 2Nd St

    Year built
    1850
    Lot size
    0.25 lot acres
    Zone code
    OFF
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    15019020
    APU
    15019020

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jan 23, 2026 — Madyan LLC — Deed · related $150k · United Community Bank
    Oct 24, 2025 $225,000 Madyan LLC W Andrew Holland JR Warranty Deed —

    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
    -78.3469
    Latitude
    35.5133
    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
    $3,313
    $55,130
    $176,580
    $231,710
    -
    $55,130
    $176,580
    $231,710

    Comparable in this City

    • Value Estimation by Request
      1,590 SF

      717 3rd St

      OFFICE/RESIDENTIAL (MIXED USE)
      717 3rd St, Smithfield, NC 27577-4353
      View Details
    • Value Estimation by Request
      3,186 SF

      141 2nd St

      OFFICE/RESIDENTIAL (MIXED USE)
      141 2nd St, Smithfield, NC 27577-3933
      View Details
    • Value Estimation by Request
      4,536 SF

      212 3rd St

      OFFICE/RESIDENTIAL (MIXED USE)
      212 3rd St, Smithfield, NC 27577-4542
      View Details
    • Value Estimation by Request
      3,142 SF

      902 Brightleaf Blvd

      OFFICE/RESIDENTIAL (MIXED USE)
      902 Brightleaf Blvd, Smithfield, NC 27577-4388
      View Details
    • Value Estimation by Request
      1,248 SF

      4356 Us Hwy 70th E

      OFFICE/RESIDENTIAL (MIXED USE)
      4356 Us Hwy 70th E, Smithfield, NC 27577-8520
      View Details
    • Value Estimation
      $560,000
      5,252 SF

      212 2nd St

      OFFICE/RESIDENTIAL (MIXED USE)
      212 2nd St, Smithfield, NC 27577-3948
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      9,103 SF

      Historic Davis Building in Smithfield

      Mixed-use property in downtown Smithfield, historic tax credit eligible.
      219 East Johnston St, Smithfield, NC 27577
      View Details
    • $1,500,000
      15.60 Acres

      Smithfield Commercial Land Opportunity

      15.6 acres with road frontage, convenient access to I-95.
      705 Whitley Farms Rd, Smithfield, NC 27577
      View Details
    • Contact for pricing

      Acreage for Dream Home

      Partially cleared acreage with easy highway access in a country setting.
      00 Crocker Rd, Smithfield, NC 27577
      View Details
    • Contact for pricing
      9,103 SF

      Downtown Smithfield 'Davis Building'

      Historic building suitable for retail and office multi-tenant occupancy.
      219 E Johnston St, Smithfield, NC 27577
      View Details
    • Contact for pricing
      48,500 SF

      South Smithfield Warehouse Storage Spaces

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

      Smithfield Highway Commercial Land Opportunity

      1.18 acre lot with road frontage and development potential.
      1266 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
    • $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
    • Contact for pricing

      Medical Office Building Near Hospital

      Two-story medical office building near Wilson Medical Center.
      2402 Camden St SW, Wilson, NC 27577
      View Details
    • $18 SF/Yr
      15,616 SF

      Smithfield Retail Opportunity Near Outlets

      Versatile 15,616 SF commercial space near Carolina Premium Outlets.
      230 N Equity Dr, Smithfield, NC 27577
      View Details
    • Contact for pricing
      2,347 SF

      Retail Space in Smithfield, NC

      Retail space for lease in a highly visible shopping center.
      1104 N Brightleaf Blvd, Smithfield, NC 27577
      View Details
    View Listing
    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.
    201 N 2Nd St
    Smithfield, NC 27577
    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
    201 N 2Nd St, 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!