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

    2960 Industrial Dr, Unit 2972 Sanford, NC 27332-6030

    • Retail space
    • 5,400 SF
    • 0.67 lot acres
    OFF-MARKET
    Last Sale
    Apr 04, 2022
    Value Estimations
    $830,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-4920902
    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

    • Taqueria La Michoacana / Mexican Restaurant

    Property Details for 2960 Industrial Dr

    Year built
    2000
    Lot size
    0.67 lot acres
    Property size
    5,400 SF
    Zone code
    C-2
    Property type
    Retail space
    APN
    9651-68-2012-00
    APU
    965168201200

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,065,000
      6.5%
      $985,000
      7%
      $915,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $790,000
      Market price range: $234k - $875k
      AI Estimate
      $707,000
      Market price range: $184k - $708k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $510,000
      Current use
      COMMERCIAL (GENERAL)
      $590,000
      Change: +15% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Sanford
    County
    Lee
    State
    North Carolina
    Longitude
    -79.147
    Latitude
    35.4481
    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
    $8,750
    $55,500
    $682,900
    $738,400
    -
    $55,500
    $682,900
    $738,400

    Comparable in this City

    • Value Estimation by Request
      780 SF

      1805 Broadway Rd

      RETAIL STORES (PERSONAL SERVICES) • 780 SF
      1805 Broadway Rd, Sanford, NC 27332-7714
      View Details
    • Value Estimation
      $775,000
      3,850 SF

      2901 Horner Blvd

      RETAIL STORES (PERSONAL SERVICES) • 3,850 SF
      2901 Horner Blvd, Sanford, NC 27332-9756
      View Details
    • Value Estimation by Request
      2,520 SF

      2711 Jefferson Davis Hwy

      RETAIL STORES (PERSONAL SERVICES) • 2,520 SF
      2711 Jefferson Davis Hwy, Sanford, NC 27332-7110
      View Details
    • Value Estimation
      $875,000
      9,120 SF

      2425 Jefferson Davis Hwy, Unit 2437

      RETAIL STORES (PERSONAL SERVICES) • 9,120 SF
      2425 Jefferson Davis Hwy, Sanford, NC 27332-7104
      View Details
    • Value Estimation by Request
      3,000 SF

      510 Main St

      RETAIL STORES (PERSONAL SERVICES) • 3,000 SF
      510 Main St, Sanford, NC 27332-5926
      View Details
    • Value Estimation
      $1,390,000
      8,504 SF

      4530 Nc 87th S, Unit 4554

      RETAIL STORES (PERSONAL SERVICES) • 8,504 SF
      4530 Nc 87th S, Sanford, NC 27332-0212
      View Details

    Similar Nearby for Sale

    • $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
    • $375,000
      10.00 Acres

      Sanford, NC 10-Acre Homesite

      10-acre homesite with pastures and pond near US 1.
      Cedar Lane Rd, Sanford, NC 27332
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    • $375,000
      10.01 Acres

      Sanford, NC 10-Acre Land Parcel

      10-acre parcel suitable for subdivision or residential development.
      Love Grove Church Rd, Sanford, NC 27332
      View Details
    • Contact for pricing

      US-501 & Tramway Rd Land

      Commercial land available at US-501 & Tramway Rd.
      Us-501 & Tramway Rd, Sanford, NC 27332
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    • $1,048,400
      52 SF

      Sanford Land For Sale

      52.42 acres in Lee County, five miles from Downtown.
      4506 Lemon Springs Rd, Sanford, NC 27332
      View Details
    • New
      $40,000
      0.69 Acres

      Sanford, NC Vacant Lot

      Vacant lot in established community near shopping and dining.
      Timberlake Trl, Sanford, NC 27332
      View Details

    Similar Nearby for Lease

    • $18,000 /Mo
      1,000 SF

      Sanford Retail Space For Rent

      1,000 sq ft retail space near Walmart and Hwy 87.
      352 Wilson Rd, Sanford, NC 27332
      View Details
    • New
      $351,320
      17,566 SF

      Former Acura Dealership For Lease

      Fully equipped automotive center with customer lounge and parts storage.
      3590 Nc 87, Sanford, NC 27332
      View Details
    • $11 SF/Yr
      2,687 SF

      Sanford Retail Gas Station For Lease

      High-visibility gas station with ample parking.
      1269 Greenwood Rd, Sanford, NC 27332
      View Details
    • Contact for pricing

      Freestanding Restaurant in Sanford, NC

      Freestanding second-generation restaurant with high visibility and ample parking.
      Sanford, NC 27332
      View Details
    • Contact for pricing
      1 SF

      Sanford Retail Center - Hwy 1 & Tramway Rd

      Prime Sanford Retail Land, Multiple Spaces Available
      0 Tramway Rd & Hwy 1, Sanford, NC 27332
      View Details
    • Contact for pricing
      196,021 SF

      Shoppes at Sanford Retail Space

      Walmart-anchored shopping center; multiple spaces available.
      3294 South Pt, Sanford, NC 27332
      View Details
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    2960 Industrial Dr, Unit 2972
    Sanford, NC 27332-6030
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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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