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
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    215 Pennsylvania Ave Southern Pines, NC 28387-5430

    • Retail space
    • 0.23 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-5200942
    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

    • Berri Bowlful / Restaurant

    Property Details for 215 Pennsylvania Ave

    Year built
    1995
    Lot size
    0.23 lot acres
    Zone code
    CB
    Property type
    Retail space
    APN
    38187
    APU
    38187

    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
    Southern Pines
    County
    Moore
    State
    North Carolina
    Longitude
    -79.393
    Latitude
    35.1754
    CBSA code
    38240
    CBSA name
    PINEHURST-SOUTHERN PINES, 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
    $5,065
    $352,760
    $441,680
    $794,440
    -
    $352,760
    $441,680
    $794,440

    Comparable in this City

    • Value Estimation by Request
      1.61 Acres

      125 Murray Hl Rd

      RETAIL STORES (PERSONAL SERVICES) • 1.61 Acres
      125 Murray Hl Rd, Southern Pines, NC 28387-6354
      View Details
    • Value Estimation by Request
      0.41 Acres

      5374 Niagara Carthage Rd

      RETAIL STORES (PERSONAL SERVICES) • 0.41 Acres
      5374 Niagara Carthage Rd, Southern Pines, NC 28387-2404
      View Details
    • Value Estimation by Request
      0.34 Acres

      167 New Hampshire Ave

      RETAIL STORES (PERSONAL SERVICES) • 0.34 Acres
      167 New Hampshire Ave, Southern Pines, NC 28387-5529
      View Details
    • Value Estimation by Request
      0.04 Acres

      109th Northsouth Ct

      RETAIL STORES (PERSONAL SERVICES) • 0.04 Acres
      109th Northsouth Ct, Southern Pines, NC 28387
      View Details
    • Value Estimation by Request
      0.11 Acres

      111 Maine Ave

      RETAIL STORES (PERSONAL SERVICES) • 0.11 Acres
      111 Maine Ave, Southern Pines, NC 28387
      View Details
    • Value Estimation by Request
      1.01 Acres

      1012 May St

      RETAIL STORES (PERSONAL SERVICES) • 1.01 Acres
      1012 May St, Southern Pines, NC 28387-4206
      View Details

    Similar Nearby for Sale

    • $2,500,000
      7,500 SF

      Southern Pines Shopping Center

      Prime retail center, high occupancy.
      206 Commerce Ave, Southern Pines, NC 28387
      View Details
    • $114,999

      Residential Land for Dream Home

      4.02-acre lot ideal for building a dream home.
      105 S Fort Bragg Rd, Southern Pines, NC 28387
      View Details
    • $1,300,000
      Pending

      Southern Pines Commercial Land Opportunity

      2.86 acres of commercial land for sale near downtown.
      1035-1055 Old Us Highway 1, Southern Pines, NC 28387
      View Details
    • $150,000
      Pending

      Southern Pines Land For Sale

      6.2 acre land suitable for custom home or multi-family investment.
      Mcneill Rd, Southern Pines, NC 28387
      View Details
    • $1,100,000
      18.00 Acres

      Equestrian Land in Southern Pines

      18-acre parcel in the heart of horse country.
      Calloway Pl, Southern Pines, NC 28387
      View Details
    • $394,000
      7.88 Acres

      Southern Pines Industrial Land Available

      7.88 acres of industrial land for sale in Southern Pines.
      200 Grannys Ln, Southern Pines, NC 28387
      View Details

    Similar Nearby for Lease

    • $2,200 /Mo
      456 SF

      Renovated Southern Pines Wellness Space

      Sublease opportunity in renovated Waterworks building, Southern Pines.
      501 Waterworks Dr Unit, Southern Pines, NC 28387
      View Details
    • $2,000 /Mo
      1,100 SF

      Salon Space in Southern Pines

      Salon space for lease near downtown Southern Pines.
      1150 Old Us Highway 1, Southern Pines, NC 28387
      View Details
    • $2,400 /Mo
      1,315 SF

      Downtown Southern Pines Retail Sublease

      Retail sublease in downtown Southern Pines with architectural details.
      162 NW Broad St, Southern Pines, NC 28387
      View Details
    • Contact for pricing
      70,504 SF

      Retail Building in Morganton Park

      Retail space in master-planned community near shopping and amenities.
      1752 Old Morganton Rd, Southern Pines, NC 28387
      View Details
    • $14,167 /Mo
      6,800 SF

      Southern Pines Retail Space Available

      Retail space in a high-traffic shopping center with national co-tenants.
      144 Brucewood Rd, Southern Pines, NC 28387
      View Details
    • $20 SF/Yr
      6,672 SF

      Downtown Southern Pines Office/Retail

      Prime Southern Pines location, flexible space.
      110 Connecticut Ave, Southern Pines, NC 28387
      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.
    215 Pennsylvania Ave
    Southern Pines, NC 28387-5430
    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.