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

    315 Spring St Oxford, NC 27565

    • Commercial real estate
    • 4,191 SF
    • 0.13 lot acres
    For Sale
    View listing
    $689,000
    Last Sale
    Sep 24, 2024
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-3207985
    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

    • C & C INNOVATIONS LLC / Daycare Center / Foster Care Service

    Property Details for 315 Spring St

    Year built
    1955
    Lot size
    0.13 lot acres
    Property size
    4,191 SF
    Zone code
    R6
    Property type
    Commercial real estate
    APN
    192317011227
    APU
    192317011227

    Description

    This exceptional commercial property, located at 315 W Spring Street in Oxford, North Carolina, presents a fantastic investment opportunity. The completely renovated building boasts five individual rental units, each equipped with its own utility meters and a private restroom, providing maximum flexibility and efficiency for tenants. The property sits on a 0.13-acre lot and offers ample parking with over twelve designated spaces, supplemented by readily available street parking. Its prime location places it within convenient walking distance to downtown Oxford, ensuring high visibility and accessibility for businesses. The versatile nature of the building makes it suitable for a wide range of commercial ventures. The asking price is $689,000. This is a rare chance to acquire a turn-key commercial property in a thriving downtown area, offering immediate income potential and significant long-term growth prospects. The building's recent renovation ensures modern amenities and low maintenance costs, making it an attractive investment for both seasoned and new commercial property owners. The high number of parking spaces and the central location are key advantages in a competitive market. Don't miss this opportunity to own a piece of Oxford's vibrant commercial landscape.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $320,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $702,000
      Market price range: $193k - $703k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $490,000
      Current use
      OFFICE BUILDING
      $455,000
      Change: -8% Conversion: Easy
      MEDICAL BUILDING
      $445,000
      Change: -9% Conversion: Easy
      RETAIL STORES
      $430,000
      Change: -12% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Oxford
    County
    Granville
    State
    North Carolina
    Longitude
    -78.5923
    Latitude
    36.3079
    CBSA code
    20500
    CBSA name
    DURHAM-CHAPEL HILL, 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
    2020
    $1,052
    $40,473
    $271,403
    $311,876
    -
    $40,473
    $271,403
    $311,876

    Comparable in this City

    • Value Estimation by Request
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    • Value Estimation by Request
      0.16 Acres

      Broad St At W Mcclanahan St St

      COMMERCIAL (GENERAL) • 0.16 Acres
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    • Value Estimation by Request
      720 SF

      15 Hwy Hwy

      COMMERCIAL (GENERAL) • 720 SF
      15 Hwy Hwy, Oxford, NC 27565
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      209 Broad St

      COMMERCIAL (GENERAL) • 2,981 SF
      209 Broad St, Oxford, NC 27565-2903
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      114 Peace St

      COMMERCIAL (GENERAL) • 832 SF
      114 Peace St, Oxford, NC 27565-3726
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    • Value Estimation by Request
      3.83 Acres

      Industry Dr

      Land • 3.83 Acres
      0 Industry Dr, Oxford, NC 27565
      View Details

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      Oxford Commercial Building - 5 Units

      Downtown Oxford, 5 renovated units, high parking.
      315 Spring St, Oxford, NC 27565
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    Similar Nearby for Lease

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    315 Spring St
    Oxford, NC 27565
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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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