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

    2609 Macgregor Downs Rd Greenville, NC 27834-5903

    • Garden apartment buildings
    • 12,522 SF
    • 1.14 lot acres
    OFF-MARKET
    Value Estimations
    $1,090,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-1812852
    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

    • Garden apartment buildings

    Property Details for 2609 Macgregor Downs Rd

    Year built
    1990
    Construction
    FRAME
    Lot size
    1.14 lot acres
    Property size
    12,522 SF
    Zone code
    MR
    Property type
    Garden apartment buildings
    APN
    13754
    APU
    13754

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,300,000
      6.5%
      $1,200,000
      7%
      $1,110,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,166,000
      Market price range: $671k - $2.00M
      AI Estimate
      $913,000
      Market price range: $329k - $1.89M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $1,245,000
      Current use
      MEDICAL BUILDING
      $1,550,000
      Change: +24% Conversion: Moderate
      NEIGHBORHOOD: SHOPPING CENTER
      $1,170,000
      Change: -6% Conversion: Difficult
      OFFICE BUILDING
      $1,035,000
      Change: -17% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Greenville
    County
    Pitt
    State
    North Carolina
    Longitude
    -77.4162
    Latitude
    35.6113
    CBSA code
    24780
    CBSA name
    GREENVILLE, 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
    $8,508
    $51,300
    $448,723
    $500,023
    -
    $51,300
    $448,723
    $500,023

    Comparable in this City

    • Value Estimation
      $895,000
      7,996 SF

      200 Orlando Way

      GARDEN APT, COURT APT (5+ UNITS) • 7,996 SF
      200 Orlando Way, Greenville, NC 27834-4685
      View Details
    • Value Estimation by Request
      3,712 SF

      1202 Clark St

      GARDEN APT, COURT APT (5+ UNITS) • 3,712 SF
      1202 Clark St, Greenville, NC 27834-4108
      View Details
    • Value Estimation
      $2,615,000
      19,314 SF

      3296 Colony Ct

      GARDEN APT, COURT APT (5+ UNITS) • 19,314 SF
      3296 Colony Ct, Greenville, NC 27834-4512
      View Details
    • Value Estimation
      $920,000
      6,809 SF

      140 Concord Dr

      GARDEN APT, COURT APT (5+ UNITS) • 6,809 SF
      140 Concord Dr, Greenville, NC 27834-6495
      View Details
    • Value Estimation
      $750,000
      6,654 SF

      596 Sq St

      GARDEN APT, COURT APT (5+ UNITS) • 6,654 SF
      596 Sq St, Greenville, NC 27834
      View Details
    • Value Estimation
      $830,000
      6,148 SF

      2852 Holly Gln Dr

      GARDEN APT, COURT APT (5+ UNITS) • 6,148 SF
      2852 Holly Gln Dr, Greenville, NC 27834-8834
      View Details

    Similar Nearby for Sale

    • New
      $430,000
      4,544 SF

      Greenville Multi-Unit Investment Opportunity

      Three duplexes on one parcel, offering income and renovation potential.
      519 Mckinley Ave, Greenville, NC 27834
      View Details
    • $190,000
      Pending

      Greenville Multifamily Investment Opportunity

      Multifamily property in Greenville, NC with income potential.
      804 Imperial St, Greenville, NC 27834
      View Details
    • $165,000
      1,245 SF

      Duplex Near ECU and Vidant

      1245 SF duplex near ECU/Vidant, 3 beds, 2.5 baths.
      2506 Bluff View Ct, Greenville, NC 27834
      View Details
    • $255,000
      Pending

      Greenville Multifamily Investment Opportunity

      Turnkey multifamily property in Greenville, NC with income potential.
      403 Paris Ave, Greenville, NC 27834
      View Details
    • New
      $165,000
      2,312 SF

      Greenville Duplex: Investment Opportunity

      Duplex in high-demand Greenville rental area near ECU and downtown.
      306 Watauga Ave, Greenville, NC 27834
      View Details
    • $275,000
      Pending

      Greenville Multifamily Investment Opportunity

      Turnkey multifamily property with income potential in Greenville, NC.
      1505 Halifax St, Greenville, NC 27834
      View Details

    Similar Nearby for Lease

    • $1,400 /Mo
      1,453 SF

      Spacious Townhome Near Medical Center

      Three-bedroom, 2.5-bath townhome near medical center and ECU.
      1015 Spring Forest Rd, Greenville, NC 27834
      View Details
    • $72,000
      67,082 SF

      Prime Pitt County Commercial Land

      1.54 Acres, High Visibility, QSR Potential
      2611 Dickinson Ave, Greenville, NC 27834
      View Details
    • $15 SF/Yr
      3,000 SF

      Downtown Greenville Restaurant Space

      Prime Arts District location, 3,000 sq ft, single tenant.
      622 Pitt St, Greenville, NC 27834
      View Details
    • Contact for pricing

      Retail Building on Greenville Boulevard

      3,382 SF retail building on 0.91 acres for lease.
      128 Greenville Blvd Southwest, Greenville, NC 27834
      View Details
    • Contact for pricing

      Prime Corner Lot For Rent

      1.02 AC corner lot with high traffic in Greenville.
      Memorial Dr & Airport Rd, Greenville, NC 27834
      View Details
    • $8 SF/Yr
      11,730 SF

      Greenville Flex Space Available

      11,730 SF flex space in Greenville's industrial district.
      801 Mumford Rd, Greenville, NC 27834
      View Details
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    Greenville, NC 27834-5903
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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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