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    Property profile & analytics

    203 Wright Ave, Unit 21 Henderson, NC 27536-5254

    • Warehouses
    • 34,944 SF
    • 3.53 lot acres
    OFF-MARKET
    Last Sale
    Aug 28, 2023
    Value Estimations
    $615,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-4532024
    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

    • Warehouses

    Property Details for 203 Wright Ave

    Year built
    1950
    Lot size
    3.53 lot acres
    Property size
    34,944 SF
    Property type
    Warehouses
    APN
    0083 01013
    APU
    8301013

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $590,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $633,000
      Market price range: $609k - $1.65M

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

    Location Insight

    • Map
    • Local Demand
    City
    Henderson
    County
    Vance
    State
    North Carolina
    Longitude
    -78.3834
    Latitude
    36.3156
    CBSA code
    25780
    CBSA name
    HENDERSON, 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
    2024
    $5,056
    $49,492
    $312,293
    $361,785
    -
    $49,492
    $312,293
    $361,785

    Comparable in this City

    • Value Estimation by Request
      7,584 SF

      Montgomery St

      WAREHOUSE, STORAGE • 7,584 SF
      Montgomery St, Henderson, NC 27536
      View Details
    • Value Estimation
      $3,355,000
      213,673 SF

      Jane Ave

      WAREHOUSE, STORAGE • 213,673 SF
      Jane Ave, Henderson, NC 27536
      View Details
    • Value Estimation by Request
      864 SF

      1823 Garnett St

      WAREHOUSE, STORAGE • 864 SF
      1823 Garnett St, Henderson, NC 27536
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    • Value Estimation by Request
      4,520 SF

      517 Wakefield Ave

      WAREHOUSE, STORAGE • 4,520 SF
      517 Wakefield Ave, Henderson, NC 27536-3151
      View Details
    • Value Estimation by Request
      11,175 SF

      Walnut St

      WAREHOUSE, STORAGE • 11,175 SF
      Walnut St, Henderson, NC 27536
      View Details
    • Value Estimation by Request
      6,242 SF

      1030 Old Norlina Rd

      WAREHOUSE, STORAGE • 6,242 SF
      1030 Old Norlina Rd, Henderson, NC 27536-3412
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      184,170 SF

      Henderson Warehouse with Rail Access

      65,987 SF warehouse with rail access in Henderson, NC.
      599 Raleigh Rd, Henderson, NC 27536
      View Details
    • $666,250
      2.05 Acres

      Henderson Industrial Land - $666,250

      2.05-acre commercial/industrial lot
      0 Poplar Crk Rd. & Technology Ln, Henderson, NC 27536
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    • $92,700
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      Henderson Multifamily Investment Opportunity

      Cash-flowing residential portfolio in Henderson, North Carolina.
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    • $93,800
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      Residential Income Property For Sale

      Cash-flowing residential portfolio in Henderson, NC with long-term tenants.
      631 Marshall St, Henderson, NC 27536
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    • $30,000
      2.08 Acres

      Vacant City Lot in Henderson

      Vacant city lot, ideal for investors or building a home.
      450 Ft, Henderson, NC 27536
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    • Contact for pricing
      0.17 Acres

      Ideal Wooded Lot in Henderson

      Wooded lot for dream home construction in Henderson city limits.
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    Similar Nearby for Lease

    • $2 SF/Yr
      96,207 SF

      Warehouse Space in Henderson, NC

      96,207 RSF warehouse space available for lease in Henderson, NC.
      215 Wright Ave, Henderson, NC 27536
      View Details
    • $4 SF/Yr
      48,000 SF

      Henderson Industrial Warehouse For Sale

      48,000 SF Warehouse in Vance County, NC
      111 Lenora St, Henderson, NC 27536
      View Details
    • $2 SF/Yr
      21,280 SF

      Warehouse Space in Henderson, NC

      21,280 RSF warehouse space for lease in Henderson, NC.
      239 Wilbur St, Henderson, NC 27536
      View Details
    • $3 SF/Yr
      48,000 SF

      48,000 SF Warehouse For Lease

      Warehouse space with office, acreage, and industrial zoning available for lease.
      111 Lenora St, Henderson, NC 27536
      View Details
    • Contact for pricing

      Retail Space in Henderson, NC

      Fully leased retail property in a major shopping corridor.
      159 North Cooper Dr, Henderson, NC 27536
      View Details
    • $1,520 /Mo
      2,027 SF

      Retail Space in Henderson, NC

      Retail space available in Food Lion anchored shopping center.
      1600 N Garnett St, Henderson, NC 27536
      View Details
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    203 Wright Ave, Unit 21
    Henderson, NC 27536-5254
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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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