Sign Up Successful!
You now have access to more from Realmo!
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

    28 1st St Lexington, NC 27292-3402

    • Commercial real estate
    • 1,128 SF
    • 0.10 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-0881516
    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

    • Stable Farm and Tack / (Bike/Boat/Book/etc) Store / Pet Store & Service
    • Davidson Apparel / Textile Manufacturer / Factory
    • Lisa Jester / Orthotics & Prosthetics Service

    Property Details for 28 1st St

    Year built
    1930
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.10 lot acres
    Property size
    1,128 SF
    Zone code
    U
    Property type
    Commercial real estate
    APN
    11-060-0-00D-0005
    APU
    11060000D0005

    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
    Lexington
    County
    Davidson
    State
    North Carolina
    Longitude
    -80.2516
    Latitude
    35.8241
    CBSA code
    49180
    CBSA name
    WINSTON-SALEM, 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
    $576
    $0.00
    $0.00
    $38,150
    -
    $21,530
    $16,620
    $38,150

    Comparable in this City

    • Value Estimation by Request
      5.00 Acres

      Us Highway 64

      Commercial real estate • 5.00 Acres
      Us Highway 64, Lexington, NC 27292
      View Details
    • Value Estimation by Request
      3,628 SF

      41 1st Ave

      COMMERCIAL (GENERAL) • 3,628 SF
      41 1st Ave, Lexington, NC 27292-3301
      View Details
    • Value Estimation by Request
      1,344 SF

      101 1st Ave Ste A

      COMMERCIAL (GENERAL) • 1,344 SF
      101 1st Ave Ste A, Lexington, NC 27292-3365
      View Details
    • Value Estimation by Request
      1,976 SF

      24 2nd Ave

      COMMERCIAL (GENERAL) • 1,976 SF
      24 2nd Ave, Lexington, NC 27292-3350
      View Details
    • Value Estimation by Request
      2,344 SF

      403 5th Ave

      COMMERCIAL (GENERAL) • 2,344 SF
      403 5th Ave, Lexington, NC 27292-2907
      View Details
    • Value Estimation by Request
      2,790 SF

      1401 Main St Ste A

      COMMERCIAL (GENERAL) • 2,790 SF
      1401 Main St Ste A, Lexington, NC 27292-3171
      View Details

    Similar Nearby for Sale

    • $325,000

      Lexington Commercial Space - High Visibility

      Prime location, high traffic, investment opportunity.
      406 National Blvd, Lexington, NC 27292
      View Details
    • $375,000
      5.00 Acres

      Lexington Commercial Land Opportunity

      Five-Acre Commercial/Industrial Lot
      Us Highway 64, Lexington, NC 27292
      View Details
    • $295,000

      Lexington Highway Commercial Property

      High-traffic location, versatile building, great potential.
      10235 Nc Highway 8, Lexington, NC 27292
      View Details
    • $2,500,000
      16.00 Acres

      Lexington Commercial Land - Hwy 64/85

      16 Acres, High Visibility, Development Ready
      3638 Us Highway 64, Lexington, NC 27292
      View Details
    • $179,900

      Lexington Retail Investment Opportunity

      High-traffic retail lot, two parcels included.
      1702 Main St, Lexington, NC 27292
      View Details
    • Contact for pricing
      10 SF

      Lexington Land Parcel For Sale

      10+/- acre land parcel within Lexington city limits.
      1407 Cotton Grove Rd, Lexington, NC 27292
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      270,650 SF

      Lexington Parkway Plaza Retail Space

      Prime Lexington, NC retail space available.
      19 Plaza Pkwy, Lexington, NC 27292
      View Details
    • $2.00 SF/Yr
      4,959 SF

      Downtown Lexington Storage Space Available

      Unfinished top and basement level space for business storage needs.
      318 N Main St, Lexington, NC 27292
      View Details
    • Contact for pricing
      3,747,000 SF

      Lexington Industrial Warehouse For Sale

      Class A warehouse, 272,000 SF available
      2330 New Bowers Rd, Lexington, NC 27292
      View Details
    • Contact for pricing
      284,349 SF

      Lexington Warehouse with Conveyor System

      Large industrial space featuring multi-floor warehouse and conveyor system.
      100 United Furniture Dr, Lexington, NC 27292
      View Details
    • Contact for pricing
      375,310 SF

      Lexington Industrial Space For Lease/Sale

      Large industrial space, flexible lease options.
      100 United Furniture Dr, Lexington, NC 27292
      View Details
    • Contact for pricing

      Industrial Space with Rail Potential

      Industrial space for lease with excellent connectivity and rail potential.
      Lexington, NC 27292
      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.
    28 1st St
    Lexington, NC 27292-3402
    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.