Add Listing
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

    2515 Watson Ave Sanford, NC 27332-6173

    • Office properties & Spaces
    • 6,364 SF
    • 0.22 lot acres
    OFF-MARKET
    Last Sale
    Jul 13, 2022
    $410,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-2596568
    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

    • YBS INCOMETAX SERVICES #2 / Tax Preparation
    • Be Well With Meehwa / Physician
    • Channeled Energies / Hair Salon
    • Kaove Flooring / General Contractor / Renovation Specialist
    • Peak Professional Group -Sanford Office / Counselor

    Property Details for 2515 Watson Ave

    Year built
    1965
    Lot size
    0.22 lot acres
    Property size
    6,364 SF
    Zone code
    OFFICE & INSTITUTIONAL
    Property type
    Office properties & Spaces
    APN
    9652-51-5443-00
    APU
    965251544300

    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
    Sanford
    County
    Lee
    State
    North Carolina
    Longitude
    -79.1493
    Latitude
    35.4574
    CBSA code
    41820
    CBSA name
    SANFORD, 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
    2023
    $3,262
    $38,400
    $420,400
    $458,800
    -
    $38,400
    $420,400
    $458,800

    Comparable in this City

    • Value Estimation
      $3,080,000
      17,368 SF

      2410 Tramway Rd

      OFFICE (GENERAL) • 17,368 SF
      2410 Tramway Rd, Sanford, NC 27332-9174
      View Details
    • Value Estimation by Request
      1,904 SF

      3000 Airport Rd

      OFFICE (GENERAL) • 1,904 SF
      3000 Airport Rd, Sanford, NC 27332-9135
      View Details
    • Value Estimation by Request
      2,629 SF

      2502 Dalrymple St

      OFFICE (GENERAL) • 2,629 SF
      2502 Dalrymple St, Sanford, NC 27332-6102
      View Details
    • Value Estimation by Request
      1,232 SF

      2903 Jefferson Davis Hwy

      OFFICE (GENERAL) • 1,232 SF
      2903 Jefferson Davis Hwy, Sanford, NC 27332-7113
      View Details
    • Value Estimation by Request
      1,214 SF

      7256 Lemon Spgs Rd

      OFFICE (GENERAL) • 1,214 SF
      7256 Lemon Spgs Rd, Sanford, NC 27332
      View Details
    • Value Estimation by Request
      512 SF

      5448 Cox Ml Rd

      OFFICE (GENERAL) • 512 SF
      5448 Cox Ml Rd, Sanford, NC 27332-2446
      View Details

    Similar Nearby for Sale

    • $645,000

      Highway Frontage Commercial Land

      Prime commercial land with high traffic and development potential.
      5142 Nc 87 N, Sanford, NC 27332
      View Details
    • $700,000
      3,550 SF

      Historic Home Zoned Commercial

      Restored historic home suitable for office or event space.
      202 W Main St, Sanford, NC 27332
      View Details
    • $645,000
      3.18 Acres

      Sanford Commercial Land For Sale

      Highway frontage in high-traffic area suitable for retail or office.
      5142 Nc 87 Hwy N, Sanford, NC 27332
      View Details
    • $700,000
      3,550 SF

      Historic Home in Jonesboro Heights

      Restored historic home suitable for office or event space.
      202 W Main St, Sanford, NC 27332
      View Details
    • $175,000
      Pending

      Sanford, NC 10-Acre Land Parcel

      10-acre track suitable for subdivision or residential construction.
      Love Grove Church Rd, Sanford, NC 27332
      View Details
    • $225,000
      5.14 Acres

      Sanford Land for Residential Development

      5.14 acre lot suitable for building a home.
      Sheriff Watson Rd, Sanford, NC 27332
      View Details

    Similar Nearby for Lease

    • $48,000
      3,550 SF

      Historic Sanford Home For Rent

      Restored historic home suitable for office or event space.
      202 W Main St, Sanford, NC 27332
      View Details
    • $60 SF/Yr
      1,500 SF

      Prime Office Suites, 7.5 Acres

      Modern Executive Offices & Coworking
      413 Cox Maddox Rd, Sanford, NC 27332
      View Details
    • Contact for pricing
      8,400 SF

      Sanford Industrial Space with Storage

      7,400 SF industrial space with fenced laydown storage.
      3105 Hal Siler Dr, Sanford, NC 27332
      View Details
    • Contact for pricing

      Industrial Space Near Highway 87

      Functional industrial space with highway access, available December 2025.
      546 Harvey Faulk Rd, Sanford, NC 27332
      View Details
    • Contact for pricing

      Walmart Anchored Retail Space Available

      Retail space for lease in a Walmart-anchored shopping center.
      3294 South Pt South, Sanford, NC 27332
      View Details
    • Contact for pricing
      1 SF

      Retail Development Land For Lease

      1.02 acre commercial land for lease in Sanford, NC.
      5110 Nc Highway 87, Sanford, NC 27332
      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.
    2515 Watson Ave
    Sanford, NC 27332-6173
    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.
    Sign Up Successful!
    You now have access to more from Realmo!