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    2602 Nc 41 Hwy Chinquapin, NC 28521
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    2602 Nc 41 Hwy Chinquapin, NC 28521

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    • Commercial real estate
    • 5,800 SF
    • 12.74 lot acres
    For Sale
    $109,900
    View Listing →
    Historic Storefront with Acreage For Sale
    $109,900
    5,800 SF

    Historic Storefront with Acreage

    Iconic store with 12 acres of wooded recreational land.

    2602 Nc 41, Chinquapin, NC 28521
    View Listing
    Property ID
    US53-5276494
    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 real estate

    Property Details for 2602 Nc 41 Hwy

    Year built
    1890
    Lot size
    12.74 lot acres
    Property size
    5,800 SF
    Property type
    Commercial real estate

    Description

    This exceptional commercial property, located at 2602 NC 41 in Chinquapin, North Carolina, presents a significant investment opportunity. The property encompasses a substantial 12.74 acres of land, providing ample space for expansion, development, or outdoor operations. The existing building offers a generous 5,800 square feet of usable space, adaptable to a wide range of commercial ventures. Its versatile layout allows for customization to suit specific business needs. The property's strategic location along NC 41 ensures high visibility and convenient access for customers and employees. Given its size and location, this property is well-suited for businesses requiring significant space and prominent road frontage. The asking price of $129,900 represents exceptional value for a property of this scale and potential in the thriving Chinquapin market. This is a rare opportunity to acquire a substantial commercial property in a desirable location, offering significant potential for growth and return on investment. Serious inquiries are encouraged to explore the possibilities this property presents. The property is ready for immediate occupancy, allowing for a swift transition to begin operations. Don't miss this chance to secure a prime commercial asset in a growing area.

    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
    Chinquapin
    County
    Duplin
    State
    North Carolina
    Longitude
    -77.80834
    Latitude
    34.83065

    Comparable in this City

    • $109,900
      5,800 SF

      Historic Storefront with Acreage

      Iconic store with 12 acres of wooded recreational land.
      2602 Nc 41 Hwy, Chinquapin, NC 28521
      View Details
    • $175,000
      9.00 Acres

      Waterfront Land in Duplin County

      9-acre waterfront land for sale in Chinquapin, North Carolina.
      196 Quiet Water Dr, Chinquapin, NC 28521
      View Details
    • $125,000
      10.30 Acres

      Residential Land in Quiet Location

      Two adjacent parcels totaling 10.3 acres in Duplin County, NC.
      176 Quiet Water Dr, Chinquapin, NC 28521
      View Details
    • $144,900
      896 SF

      Renovated Commercial Building in Chinquapin

      High-traffic location with limitless business possibilities in a friendly town.
      2735 Nc-41, Chinquapin, NC 28521
      View Details
    • $70,000
      6.34 Acres

      Chinquapin Vacant Land For Sale

      6.34-acre vacant land near Muddy Creek and Northeast Cape Fear River.
      176 Quiet Water Dr, Chinquapin, NC 28521
      View Details
    • $1,510,870
      Pending

      Value-Add Mobile Home Park Investment

      Two mobile home parks in Eastern North Carolina for sale.
      109 Smiths Mhp Ln, Chinquapin, NC 28521
      View Details

    Similar Nearby for Sale

    • $109,900
      5,800 SF

      Historic Storefront with Acreage

      Iconic store with 12 acres of wooded recreational land.
      2602 Nc 41 Hwy, Chinquapin, NC 28521
      View Details
    • $175,000
      9.00 Acres

      Waterfront Land in Duplin County

      9-acre waterfront land for sale in Chinquapin, North Carolina.
      196 Quiet Water Dr, Chinquapin, NC 28521
      View Details
    • $125,000
      10.30 Acres

      Residential Land in Quiet Location

      Two adjacent parcels totaling 10.3 acres in Duplin County, NC.
      176 Quiet Water Dr, Chinquapin, NC 28521
      View Details
    • $144,900
      896 SF

      Renovated Commercial Building in Chinquapin

      High-traffic location with limitless business possibilities in a friendly town.
      2735 Nc-41, Chinquapin, NC 28521
      View Details
    • $70,000
      6.34 Acres

      Chinquapin Vacant Land For Sale

      6.34-acre vacant land near Muddy Creek and Northeast Cape Fear River.
      176 Quiet Water Dr, Chinquapin, NC 28521
      View Details
    • $1,510,870
      Pending

      Value-Add Mobile Home Park Investment

      Two mobile home parks in Eastern North Carolina for sale.
      109 Smiths Mhp Ln, Chinquapin, NC 28521
      View Details
    View Listing
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    Chinquapin, NC 28521
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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.

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