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    2459 Allen Rd Greenville, NC 27858

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    2459 Allen Rd Greenville, NC 27858

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    • Commercial land
    • 72,745 SF
    Off-Market
    Property ID
    US53-1094071
    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

    • Commercial land

    Property Details for 2459 Allen Rd

    Property size
    72,745 SF
    Property type
    Commercial land
    Property subtype
    Retail properties & Spaces

    Description

    This Property Provides Tremendous Opportunity for Business Users in the Economically Growing Area of Greenville. Situated in Between Dickinson Ave and Stantonsburg Rd, With Easy Access to the Vidant Medical District, the Opportunities Are Endless. This Property Would Be a Ideal Fit for a Restaurant User, Convenient Store User, Other Retail or Even Hospitality User. The Adjacent Users Are Speedway Gas Station and a Dollar General That is Within a 1/4 Mile of the Property. Mcdonalds Real Estate Owns Property Directly Across the Street on Allen Road. With Residential Developments on the Rise in the Area, Along With the Ease of Access to Multiple Highways (Highway 264, Highway 11 Bypass, Highway 13), This Property Has the Demand and Need for Business.

    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
    Greenville
    County
    Pitt
    State
    North Carolina
    Longitude
    -77.43197
    Latitude
    35.577356

    Comparable in this City

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      1,886 SF

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    • $550,000
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      Versatile Commercial Property in Greenville

      1.86 acres in high-traffic area, ideal for development.
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      Corner Parcel on Arlington Boulevard

      Highly visible commercial land for sale in Greenville, NC.
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      Commercial Land Near Bells Fork

      Outparcels available near high-traffic intersection with strong commercial presence.
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      Commercial Land on Fire Tower

      8.27 acres of commercial land with road frontage.
      2350 E Fire Tower Rd, Greenville, NC 27858
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    • $1,000,000

      Commercial Land Near Bells Fork

      Outparcel near high-traffic intersection in growing commercial district.
      Charles Blvd, Greenville, NC 27858
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    Similar Nearby for Sale

    • $1,500,000
      1,886 SF

      Redevelopment Site with Drive-Thru

      Prime location for retail, restaurant, or service-oriented businesses.
      700 E Arlington Blvd, Greenville, NC 27858
      View Details
    • $550,000
      1.86 Acres

      Versatile Commercial Property in Greenville

      1.86 acres in high-traffic area, ideal for development.
      4575 Nc-43, Greenville, NC 27858
      View Details
    • Contact for pricing

      Corner Parcel on Arlington Boulevard

      Highly visible commercial land for sale in Greenville, NC.
      Mulberry Ln, Greenville, NC 27858
      View Details
    • Contact for pricing

      Commercial Land Near Bells Fork

      Outparcels available near high-traffic intersection with strong commercial presence.
      3900 Charles Blvd, Greenville, NC 27858
      View Details
    • Contact for pricing

      Commercial Land on Fire Tower

      8.27 acres of commercial land with road frontage.
      2350 E Fire Tower Rd, Greenville, NC 27858
      View Details
    • $1,000,000

      Commercial Land Near Bells Fork

      Outparcel near high-traffic intersection in growing commercial district.
      Charles Blvd, Greenville, NC 27858
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Space on Greenville Boulevard

      Prime retail leasing opportunity in Greenville's commercial corridor.
      611 Greenville Blvd SE, Greenville, NC 27858
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      Mixed-Use Space in Downtown Greenville

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      2,999 SF

      Premier Mixed-Use Property in Uptown

      Retail, restaurant, or office spaces in Greenville's vibrant Uptown District.
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      Premier Mixed-Use Property in Greenville

      Retail, restaurant, and office spaces in Greenville's vibrant Uptown District.
      630 Cotanche St, Greenville, NC 27858
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      Restaurant Space in Vibrant Area

      Restaurant space in a high-traffic location with diverse businesses.
      610 Red Banks Rd, Greenville, NC 27858
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      Retail Space For Lease

      Retail property available for lease in Greenville, North Carolina.
      2120 East Fire Tower Rd, Greenville, NC 27858
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    2459 Allen Rd
    Greenville, NC 27858
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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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    2459 Allen Rd, Greenville, NC, 27858

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