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    Property profile & analytics

    308 Bickett Blvd Louisburg, NC 27549

    • Office buildings
    • 5,220 SF
    • 0.34 lot acres
    For Lease
    View listing
    Last Sale
    Jun 07, 2021
    $790,000
    Value Estimations
    $820,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-2212992
    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

    • Office buildings

    Property Details for 308 Bickett Blvd

    Year built
    1952
    Lot size
    0.34 lot acres
    Property size
    5,220 SF
    Zone code
    B 2
    Property type
    Office buildings
    APN
    19011
    APU
    19011

    Description

    This exceptional 757-square-foot executive office suite is available for lease in Louisburg, North Carolina. Located at 308 S Bickett Blvd, Unit 5, this single-tenant space offers a prime opportunity for businesses seeking a modern and efficient workspace. The property is zoned B2, providing flexibility for a variety of commercial uses. The entire 757 square feet is currently vacant and ready for immediate occupancy. Situated in Franklin County, this location offers convenient access to local amenities and transportation routes. The property's classification as both retail and office space reflects its versatility and potential for a range of businesses. The building's size and layout are ideal for a small business or professional office needing a dedicated space. This is a single-tenant occupancy, ensuring privacy and control over the environment. The address is easily accessible and visible from the street, providing excellent visibility for your business. This turnkey solution allows for immediate move-in and focus on business operations. Interested parties are encouraged to inquire about lease terms and conditions. The property is located in a thriving area of Louisburg, offering a blend of convenience and accessibility. The zip code is 27549. This is a fantastic opportunity to establish a presence in a desirable location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $905,000
      ML approach
      $845,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $781,000
      Market price range: $278k - $792k

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

    Location Insight

    • Map
    • Local Demand
    City
    Louisburg
    County
    Franklin
    State
    North Carolina
    Longitude
    -78.3004
    Latitude
    36.0911
    CBSA code
    39580
    CBSA name
    RALEIGH-CARY, 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
    2024
    $7,230
    $180,100
    $528,350
    $708,450
    -
    $180,100
    $528,350
    $708,450

    Comparable in this City

    • Value Estimation by Request
      3,720 SF

      303 Swansons Rd

      OFFICE BUILDING • 3,720 SF
      303 Swansons Rd, Louisburg, NC 27549-9492
      View Details
    • Value Estimation
      $2,145,000
      11,000 SF

      216 Bickett Blvd

      OFFICE BUILDING • 11,000 SF
      216 Bickett Blvd, Louisburg, NC 27549-2473
      View Details
    • Value Estimation by Request
      3,100 SF

      105 Main St

      OFFICE BUILDING • 3,100 SF
      105 Main St, Louisburg, NC 27549-2519
      View Details
    • Value Estimation
      $800,000
      5,135 SF

      222 Bickett Blvd

      OFFICE BUILDING • 5,135 SF
      222 Bickett Blvd, Louisburg, NC 27549-2404
      View Details
    • Value Estimation
      $530,000
      3,128 SF

      107 Church St

      OFFICE BUILDING • 3,128 SF
      107 Church St, Louisburg, NC 27549-2528
      View Details
    • Value Estimation by Request
      2,550 SF

      482 Main St

      OFFICE BUILDING • 2,550 SF
      482 Main St, Louisburg, NC 27549-2685
      View Details

    Similar Nearby for Sale

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      2.07 Acres

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      Prime NC commercial land near Walmart.
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      Residential Land in Pondview Subdivision

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      13 SF

      13.28 Acres Highway Business Land

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    • $147,400

      Waterfront Lot with Dock

      Waterfront .21 acre lot with bulkhead, dock, and shed.
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    Similar Nearby for Lease

    • Contact for pricing
      757 SF

      Louisburg Executive Office Suite

      757 SF Office Space For Lease
      308 Bickett Blvd, Louisburg, NC 27549
      View Details
    • $19,800 /Mo
      1,800 SF

      Louisburg Executive Office Space

      1800 sq ft, updated office/retail space
      614B Bickett Blv, Louisburg, NC 27549
      View Details
    • $17 SF/Yr
      19,322 SF

      Prime Louisburg Medical Office

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    • Contact for pricing
      1,980 SF

      Executive Office Suite Louisburg, NC

      Prime Louisburg Office Space - 1,980 SF
      142 Bickett Blvd, Louisburg, NC 27549
      View Details
    • Contact for pricing
      2,036 SF

      Prime Louisburg Executive Office Space

      2,036 sq ft, Single Tenant Office Available
      216 Bickett Blvd, Louisburg, NC 27549
      View Details
    • Contact for pricing
      20,000 SF

      Louisburg Plaza Retail Space Available

      Prime Retail Strip Center, Hwy 401 & NC 56
      0 Walmart Supercenter Anchored Shopping Ctr, Louisburg, NC 27549
      View Details
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    Louisburg, NC 27549
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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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