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

    298 Pipers Gap Rd Mount Airy, NC 27030

    • Warehouses
    • 1,296 SF
    • 0.27 lot acres
    For Sale
    View listing
    $156,000
    Last Sale
    Aug 17, 2023
    $90,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-4277934
    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

    • Warehouses

    Property Details for 298 Pipers Gap Rd

    Year built
    1955
    Construction
    CONCRETE BLOCKS
    Lot size
    0.27 lot acres
    Property size
    1,296 SF
    Zone code
    CB
    Property type
    Warehouses
    APN
    5010-08-77-8911
    APU
    501008778911

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $95,000
      ML approach
      $90,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $70,000
      Market price range: $43.3k - $103k
      AI Estimate
      $66,000
      Market price range: $26.6k - $112k

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $75,000
      Current use
      COMMERCIAL (GENERAL)
      $120,000
      Change: +58% Conversion: Difficult
      RETAIL STORES
      $110,000
      Change: +43% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $100,000
      Change: +27% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Mount Airy
    County
    Surry
    State
    North Carolina
    Longitude
    -80.6402
    Latitude
    36.5084
    CBSA code
    34340
    CBSA name
    MOUNT AIRY, 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
    2024
    $216
    $12,000
    $21,450
    $33,450
    -
    $12,000
    $21,450
    $33,450

    Comparable in this City

    • Value Estimation
      $275,000
      4,000 SF

      680 Riverside Dr

      WAREHOUSE, STORAGE • 4,000 SF
      680 Riverside Dr, Mount Airy, NC 27030-3117
      View Details
    • Value Estimation
      $295,000
      5,280 SF

      1688 Sparger Rd

      WAREHOUSE, STORAGE • 5,280 SF
      1688 Sparger Rd, Mount Airy, NC 27030-7563
      View Details
    • Value Estimation
      $995,000
      196,655 SF

      200 Altec Way

      WAREHOUSE, STORAGE • 196,655 SF
      200 Altec Way, Mount Airy, NC 27030-9934
      View Details
    • Value Estimation
      $275,000
      2,700 SF

      174 Greg Truitt Ln

      WAREHOUSE, STORAGE • 2,700 SF
      174 Greg Truitt Ln, Mount Airy, NC 27030-6919
      View Details
    • Value Estimation
      $250,000
      3,360 SF

      Mckinney Rd

      WAREHOUSE, STORAGE • 3,360 SF
      Mckinney Rd, Mount Airy, NC 27030
      View Details
    • Value Estimation
      $240,000
      2,400 SF

      851 Old Us 52nd S

      MINI-WAREHOUSE, STORAGE • 2,400 SF
      851 Old Us 52nd S, Mount Airy, NC 27030
      View Details

    Similar Nearby for Sale

    • $156,000

      Mount Airy Warehouse Redevelopment Opportunity

      Three warehouse buildings on a 0.268-acre lot for sale.
      298 Pipers Gap Rd, Mount Airy, NC 27030
      View Details
    • $695,000
      1.35 Acres

      Mount Airy Industrial Land - $695K

      Prime 1.35-acre industrial lot, ideal for development.
      0 Pine St, Mount Airy, NC 27030
      View Details
    • $1,250,000
      24.86 Acres

      Mount Airy Industrial Land Available

      24.86 acres of industrial land with shop building for sale.
      238 Old Highway 601, Mount Airy, NC 27030
      View Details
    • Contact for pricing

      Unrestricted Land Near Downtown

      Unrestricted 1.09 acre land near downtown Mount Airy.
      00 Paynetown Rd, Mount Airy, NC 27030
      View Details
    • $42,900
      0.45 Acres

      Cleared Corner Lot in Airy

      Cleared corner lot with city water meter in place.
      112 Centerwood Dr, Mount Airy, NC 27030
      View Details
    • $115,000
      14.45 Acres

      Unrestricted Land with Abandoned Store

      Two joining tracts of land with no restrictions and old store.
      3309 E Pine St, Mount Airy, NC 27030
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      117,376 SF

      Mount Airy Retail Center Investment

      High-traffic retail space in NC.
      715 Independence Blvd, Mount Airy, NC 27030
      View Details
    • Contact for pricing
      207,542 SF

      Mayberry Mall: Retail Investment Opportunity

      Enclosed Mall, 16 Suites, 49,871 SF Vacant
      388 Frederick St, Mount Airy, NC 27030
      View Details
    • New
      Contact for pricing

      Mount Airy Building For Lease

      High-profile building near Mt. Airy High School and Veterans Park.
      527 Lebanon St, Mount Airy, NC 27030
      View Details
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    Mount Airy, NC 27030
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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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