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

    315 Burke Dr Morganton, NC 28655

    • Manufacturing properties
    • 7,920 SF
    • 2.99 lot acres
    For Sale
    View listing
    Last Sale
    Jun 02, 2023
    $400,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-1678846
    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

    • PDQ Workholding / General Contractor

    Property Details for 315 Burke Dr

    Year built
    1964
    Construction
    WOOD FRAME
    Lot size
    2.99 lot acres
    Property size
    7,920 SF
    Zone code
    EXCLUSIVE INDUSTRIAL DIST
    Property type
    Manufacturing properties
    APN
    31861
    APU
    31861

    Description

    This exceptional single-tenant property at 315 Burke Dr, Morganton, NC 28655, offers a versatile 12,888 square foot space ideal for a variety of businesses. The building boasts a strategic blend of office and warehouse areas, perfectly suited for companies needing both administrative and storage capabilities. The warehouse component encompasses 8,919 square feet, providing ample room for inventory, equipment, or production. Complementing this substantial warehouse space is a well-appointed 4,224 square foot office area. This office space includes twelve individual offices, two conference rooms, and four bathrooms, ensuring comfortable and efficient operations. The property's location in the heart of Morganton offers excellent accessibility and visibility, making it an attractive option for businesses seeking a central location. This property is a single-tenant building, providing a streamlined and efficient operational environment. The property is classified as Retail, Office, and Industrial, reflecting its adaptability to diverse business needs. A floor plan is available upon request. This is a rare opportunity to secure a well-designed and strategically located property in a thriving North Carolina market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $435,000
      ML approach
      $385,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $461,000
      Market price range: $72.1k - $474k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $715,000
      AUTO REPAIR, GARAGE
      $640,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Morganton
    County
    Burke
    State
    North Carolina
    Longitude
    -81.6634
    Latitude
    35.7488
    CBSA code
    25860
    CBSA name
    HICKORY-LENOIR-MORGANTON, 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
    $3,127
    $89,700
    $468,682
    $558,382
    -
    $89,700
    $468,682
    $558,382

    Comparable in this City

    • Value Estimation
      $225,000
      792 SF

      2232 Magnolia Pl

      MANUFACTURING (LIGHT) • 792 SF
      2232 Magnolia Pl, Morganton, NC 28655-4562
      View Details
    • Value Estimation
      $965,000
      250,292 SF

      1500 Un St

      MANUFACTURING (LIGHT) • 250,292 SF
      1500 Un St, Morganton, NC 28655-5325
      View Details
    • Value Estimation
      $1,540,000
      185,612 SF

      647 Hopewell Rd, Unit A

      MANUFACTURING (LIGHT) • 185,612 SF
      647 Hopewell Rd, Morganton, NC 28655-8267
      View Details
    • Value Estimation
      $1,990,000
      138,572 SF

      307 Burke Dr

      MANUFACTURING (LIGHT) • 138,572 SF
      307 Burke Dr, Morganton, NC 28655-5306
      View Details
    • Value Estimation
      $975,000
      299,860 SF

      1103 Jamestown Rd

      MANUFACTURING (LIGHT) • 299,860 SF
      1103 Jamestown Rd, Morganton, NC 28655-9285
      View Details
    • Value Estimation
      $535,000
      25,008 SF

      2735 Adventist Cir

      MANUFACTURING (LIGHT) • 25,008 SF
      2735 Adventist Cir, Morganton, NC 28655-9584
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      0.75 Acres

      Morganton Commercial Property

      Retail & Industrial Land, Hwy 181
      833 Green St, Morganton, NC 28655
      View Details
    • Contact for pricing

      Morganton Industrial Land For Sale

      7.63 acres of industrial land with retail potential.
      114 Wamsutta Mill Rd, Morganton, NC 28655
      View Details
    • Contact for pricing
      12,888 SF

      Morganton Flex Space with Warehouse

      12,888 SF flex space with office and warehouse.
      315 Burke Dr, Morganton, NC 28655
      View Details
    • $837,000
      19.48 Acres

      Morganton Land: 19.4 Acres Downtown

      Prime Downtown Morganton development land.
      1527 Union St, Morganton, NC 28655
      View Details
    • $149,000
      1.80 Acres

      Rutherfordton Metal Building with Living

      Metal building with living area on almost 2 acres.
      825 Maple Creek Rd, Rutherfordton, NC 28655
      View Details
    • $499,000
      1.10 Acres

      Historic Morganton Commercial Property

      Renovated Church, Prime Downtown Location
      318 Bouchelle St, Morganton, NC 28655
      View Details

    Similar Nearby for Lease

    • $0.09 SF/Yr
      37,823 SF

      Morganton Industrial Property

      9-Acre Industrial Site, Flexible Space
      833 Green St, Morganton, NC 28655
      View Details
    • $7,252,145
      76,665 SF

      Morganton Industrial Space Available

      76,665 SF industrial space with heavy power.
      1000 Chain Dr, Morganton, NC 28655
      View Details
    • $22 SF/Yr
      3,500 SF

      Downtown Morganton Retail Space

      Prime Restaurant Location, Newly Renovated
      309 Green St, Morganton, NC 28655
      View Details
    • $15 SF/Yr
      5,000 SF

      Morganton Office Space For Lease

      Prime Downtown Morganton Office, 1250-2000 sqft
      200 College St, Morganton, NC 28655
      View Details
    • Contact for pricing

      Retail Space in Morganton, NC

      Retail space available for lease in Morganton, North Carolina.
      Morganton, NC 28655
      View Details
    • Contact for pricing
      1,381 SF

      Renovated Office/Retail Space Available

      Newly renovated office/retail space in a prime location.
      109 E Fleming Dr, Morganton, NC 28655
      View Details
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    315 Burke Dr
    Morganton, NC 28655
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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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