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

    2185 Hanford Rd Burlington, NC 27215-7171

    • Hotels
    • 24,602 SF
    • 2.06 lot acres
    OFF-MARKET
    Value Estimations
    $535,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-0283910
    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

    • Microtel Inn & Suites by Wyndham Burlington / Hotel / Inn

    Property Details for 2185 Hanford Rd

    Year built
    1998
    Lot size
    2.06 lot acres
    Property size
    24,602 SF
    Zone code
    B 2
    Property type
    Hotels
    Property subtype
    Motels
    APN
    132206
    APU
    132206

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $530,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $545,000
      Market price range: $378k - $786k

    • Alternative Use

      Use
      Estimation
      HOTEL/MOTEL
      $605,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Burlington
    County
    Alamance
    State
    North Carolina
    Longitude
    -79.4353
    Latitude
    36.0634
    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
    $13,122
    $409,387
    $2,628,171
    $3,037,558
    -
    $409,387
    $2,628,171
    $3,037,558

    Comparable in this City

    • Value Estimation
      $1,665,000
      62,812 SF

      2935 Saconn Dr

      HOTEL/MOTEL • 62,812 SF
      2935 Saconn Dr, Burlington, NC 27215-8048
      View Details
    • Value Estimation by Request
      8,918 SF

      2155 Hanford Rd

      HOTEL/MOTEL • 8,918 SF
      2155 Hanford Rd, Burlington, NC 27215-7171
      View Details
    • Value Estimation
      $2,160,000
      90,083 SF

      1767 Glidewell Dr

      HOTEL/MOTEL • 90,083 SF
      1767 Glidewell Dr, Burlington, NC 27215-8245
      View Details
    • Value Estimation
      $4,000,000
      80,454 SF

      2444 Maple Ave

      HOTEL/MOTEL • 80,454 SF
      2444 Maple Ave, Burlington, NC 27215-7116
      View Details
    • Value Estimation by Request
      9,686 SF

      802 Huffman Ml Rd

      HOTEL/MOTEL • 9,686 SF
      802 Huffman Ml Rd, Burlington, NC 27215-5151
      View Details
    • Value Estimation
      $1,590,000
      64,830 SF

      3141 Wilson Dr

      HOTEL/MOTEL • 64,830 SF
      3141 Wilson Dr, Burlington, NC 27215-9774
      View Details

    Similar Nearby for Sale

    • $99,000
      2.70 Acres

      Burlington Land For Sale

      2.7 acres, General Business zoning, close to Elon University.
      2214 W Webb Ave, Burlington, NC 27215
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    • $1,200,000

      Commercial Land with Office Buildings

      4.08 acres with two office buildings for lease.
      2771-2779 Alamance Rd, Burlington, NC 27215
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    • $1,700,000
      8,800 SF

      Well-Maintained Office Building For Sale

      8,800 SF office building near hospital and highway.
      2961 Crouse Ln, Burlington, NC 27215
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    • $7,000,000
      101,064 SF

      Functional Warehouse with Office Space

      101,064 SF warehouse with office, priced below replacement value.
      609 Tucker St, Burlington, NC 27215
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    • $278,000
      1,634 SF

      Burlington Townhouse with Fenced Yard

      One-level townhouse with updated features and a private backyard.
      3424 Garden Rd, Burlington, NC 27215
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    • $215,000

      8.3 Acres Wooded Residential Lot

      8.3-acre wooded lot in Southern Alamance, ready for custom build.
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    Similar Nearby for Lease

    • Contact for pricing
      6,870 SF

      2779 Church St

      Retail properties • 6,870 SF
      2779 Church St, Burlington, NC 27215
      View Details
    • $9 SF/Yr
      20,000 SF

      Burlington Warehouse Near I-40/I-85

      20000 SF warehouse with automatic gate, convenient highway access.
      612 Floyd St, Burlington, NC 27215
      View Details
    • $9 SF/Yr
      24,000 SF

      Burlington Industrial Space Available

      24,000 square foot industrial property for lease.
      2832 Troxler Rd, Burlington, NC 27215
      View Details
    • Contact for pricing

      Class A Office Space Available

      Class A office property for rent with customizable build-out options.
      3060 S Church St, Burlington, NC 27215
      View Details
    • $4 SF/Yr
      250,000 SF

      Available Industrial Space Near I-85

      Up to 250,000 SF available near I-85 in Burlington, NC.
      2516 Industry Dr, Burlington, NC 27215
      View Details
    • $14 SF/Yr
      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

    Property Visit Statistics

    • Visits by month
      2.8k
    • Visitors by month
      986
    • Avg Time on site
      415 min
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    2185 Hanford Rd
    Burlington, NC 27215-7171
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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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