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

    4038 Nc Hwy 62 Burlington, NC 27215

    • Grocery and convenience stores
    • 2,800 SF
    • 0.77 lot acres
    OFF-MARKET
    Last Sale
    Aug 02, 2023
    $500,000
    Value Estimations
    $470,000
    Show details
    Cap Rate Potential
    3.8%
    Grocery and convenience stores
    Location Intelligence
    Property ID
    US53-1134470
    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

    • Grocery and convenience stores

    Property Details for 4038 Nc Hwy 62

    Year built
    1974
    Lot size
    0.77 lot acres
    Property size
    2,800 SF
    Zone code
    MU
    Property type
    Grocery and convenience stores
    APN
    112179
    APU
    112179

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $520,000
      ML approach
      $485,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $334,000
      Market price range: $213k - $1.11M

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

    Location Insight

    • Map
    • Local Demand
    City
    Burlington
    County
    Alamance
    State
    North Carolina
    Longitude
    -79.4851
    Latitude
    36.0361
    CBSA code
    15500
    CBSA name
    BURLINGTON, 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
    2023
    $1,846
    $39,723
    $241,650
    $281,373
    -
    $39,723
    $241,650
    $281,373

    Comparable in this City

    • Value Estimation
      $260,000
      4,480 SF

      4214 Nc Hwy 49

      CONVENIENCE STORE • 4,480 SF
      4214 Nc Hwy 49, Burlington, NC 27215-8644
      View Details
    • Value Estimation
      $280,000
      2,400 SF

      3503 Church St

      CONVENIENCE STORE • 2,400 SF
      3503 Church St, Burlington, NC 27215-9100
      View Details
    • Value Estimation by Request
      4.00 Acres

      3802 Rural Retreat Rd

      Individual retail properties • 4.00 Acres
      3802 Rural Retreat Rd, Burlington, NC 27215
      View Details
    • Value Estimation
      $525,000
      26,950 SF

      1801 Church St

      GROCERY, SUPERMARKET • 26,950 SF
      1801 Church St, Burlington, NC 27215-5553
      View Details
    • Value Estimation
      $1,245,000
      2,923 SF

      5673 Nc Hwy 49

      CONVENIENCE STORE • 2,923 SF
      5673 Nc Hwy 49, Burlington, NC 27215-8695
      View Details
    • Value Estimation
      $260,000
      2,250 SF

      1115 Maple Ave

      CONVENIENCE STORE • 2,250 SF
      1115 Maple Ave, Burlington, NC 27215
      View Details

    Similar Nearby for Sale

    • $6,250,000
      4.00 Acres

      Burlington NC Retail Land Opportunity

      ±4.5 Acres, High-Traffic Location, Prime Development
      3802 Rural Retreat Rd, Burlington, NC 27215
      View Details
    • Contact for pricing

      Burlington Retail Site For Sale

      Retail site with high visibility and cross-access in Burlington.
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    • $859,900
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      Downtown Burlington Redevelopment Opportunity

      High-visibility showroom/warehouse with redevelopment potential in downtown Burlington, NC.
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    • $495,000
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      Downtown Burlington Retail/Office Opportunity

      Versatile retail/office space in downtown Burlington with build-out potential.
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    • $375,000
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      Two-Story Commercial Building For Sale

      Two-story commercial building with retail, office, and residential potential.
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    • $145,000
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      Quaint Shop in Burlington, NC

      Established shop suitable for salon, boutique, or pet grooming.
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    Similar Nearby for Lease

    • $2,800 /Mo
      2,200 SF

      Retail Space in Burlington, NC

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      View Details
    • Contact for pricing
      6,870 SF

      2779 Church St

      Retail properties • 6,870 SF
      2779 Church St, Burlington, NC 27215
      View Details
    • Contact for pricing
      5,313 SF

      Burlington Retail Space For Lease

      Prime Burlington Retail, High Visibility
      537 Huffman Mill Rd, Burlington, NC 27215
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    • Contact for pricing
      41,000 SF

      Huffman Mill Plaza Retail Space

      Burlington, NC retail space available.
      0 Huffman Ml Plz Shopping Ctr, Burlington, NC 27215
      View Details
    • Contact for pricing
      904,659 SF

      Burlington Power Center Retail Space

      High-traffic NC retail space, single tenant.
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      View Details
    • Contact for pricing
      855,000 SF

      Alamance Crossing Retail Center

      Burlington, NC Shopping Center Space Available
      1080 Piper Ln, Burlington, NC 27215
      View Details
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    4038 Nc Hwy 62
    Burlington, NC 27215
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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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