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

    405 Dixie Dr Asheboro, NC 27203-6800

    • Strip malls
    • 21,530 SF
    • 2.76 lot acres
    OFF-MARKET
    Last Sale
    Jun 29, 2023
    $4,100,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-0965621
    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

    • El Ranchero Meat Market / Take-out & Catering / Butcher
    • Lisa Blackwell - State Farm Insurance Agent / Insurance Agency
    • Farmers Insurance Group / Financial Advisor / Insurance Agency
    • Don Julio Cocina Mexicana / Restaurant
    • Sarkus Express #3 / Restaurant

    Property Details for 405 Dixie Dr

    Year built
    2005
    Lot size
    2.76 lot acres
    Property size
    21,530 SF
    Zone code
    B2
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    7750868742
    APU
    7750868742

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Asheboro
    County
    Randolph
    State
    North Carolina
    Longitude
    -79.8119
    Latitude
    35.6892
    CBSA code
    24660
    CBSA name
    GREENSBORO-HIGH POINT, 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
    $49,681
    $2,232,000
    $1,516,670
    $3,748,670
    -
    $2,232,000
    $1,516,670
    $3,748,670

    Comparable in this City

    • Value Estimation
      $1,265,000
      84,298 SF

      1422 Dixie Dr

      SHOPPING CENTER, STRIP CENTER • 84,298 SF
      1422 Dixie Dr, Asheboro, NC 27203-8800
      View Details
    • Value Estimation by Request
      25,620 SF

      1007 Fayetteville St

      SHOPPING CENTER, STRIP CENTER • 25,620 SF
      1007 Fayetteville St, Asheboro, NC 27203-6809
      View Details
    • Value Estimation
      $1,335,000
      75,251 SF

      1218 Dixie Dr

      SHOPPING CENTER, STRIP CENTER • 75,251 SF
      1218 Dixie Dr, Asheboro, NC 27203-8856
      View Details
    • Value Estimation by Request
      15,000 SF

      1406 Fayetteville St

      SHOPPING CENTER, STRIP CENTER • 15,000 SF
      1406 Fayetteville St, Asheboro, NC 27203-3969
      View Details
    • Value Estimation by Request
      8,180 SF

      2419 Fayetteville St

      SHOPPING CENTER, STRIP CENTER • 8,180 SF
      2419 Fayetteville St, Asheboro, NC 27203-3084
      View Details
    • Value Estimation by Request
      10,200 SF

      1809 Fayetteville St

      SHOPPING CENTER, STRIP CENTER • 10,200 SF
      1809 Fayetteville St, Asheboro, NC 27203-3127
      View Details

    Similar Nearby for Sale

    • $1,500,000

      Retail Location on East Dixie

      Retail building with high traffic and multi-tenant potential.
      1530 E Dixie Dr, Asheboro, NC 27203
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    • $855,000

      Highway 64 Commercial Opportunity

      0.45 acres on high-traffic corridor, suitable for various businesses.
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      1.30 Acres

      Industrial Building with Extra Lot

      Versatile building with extra lot in Asheboro city limits.
      1449 Old Liberty Rd, Asheboro, NC 27203
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    • $3,042,100
      10,881 SF

      Asheboro CVS Pharmacy Investment

      High-yield CVS Net Lease, NC
      440 Dixie Dr, Asheboro, NC 27203
      View Details
    • $515,000
      2.29 Acres

      Asheboro Retail Property - High Traffic

      Prime Retail Location, High Visibility, $515,000
      703 Fayetteville St, Asheboro, NC 27203
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    • Contact for pricing

      Asheboro Retail Space - High Traffic

      Prime retail space, high visibility location.
      603 Fayetteville St, Asheboro, NC 27203
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    Similar Nearby for Lease

    • $12 SF/Yr
      48,971 SF

      Asheboro Plaza: Prime Retail Space

      Retail, office, medical space available.
      338-372 Fayetteville St, Asheboro, NC 27203
      View Details
    • $1.00 SF/Yr
      4,022 SF

      Restaurant Space For Rent

      Restaurant space available for lease in Asheboro, North Carolina.
      1106 E Dixie Dr, Asheboro, NC 27203
      View Details
    • $12 SF/Yr
      3,591 SF

      Office/Retail Space For Rent

      3,591 SF office/retail space with abundant parking.
      1064 E Dixie Dr, Asheboro, NC 27203
      View Details
    • Contact for pricing

      Retail Building at Busy Intersection

      Retail building with showroom, sales, and warehouse space for rent.
      603 N Fayetteville St, Asheboro, NC 27203
      View Details
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    Asheboro, NC 27203-6800
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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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