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    505 Red Banks Rd Ste B Greenville, NC 27858-5734
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    Property profile & analytics

    505 Red Banks Rd Ste B Greenville, NC 27858-5734

    View on Map
    • Strip malls
    • 3,050 SF
    • 0.07 lot acres
    Off-Market
    Property ID
    US53-1744406
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • LOFT / Clothing & Fashion Store
    • Grant Barker- Atlantic Bay Mortgage Group NMLS 810737 / Loan Service / Bank
    • Pink a Lilly Pulitzer Signature Store / Clothing & Fashion Store
    • The Shave on Fifth at Coffman’s / Barber Shop
    • Coffman's Men's Wear / Clothing & Fashion Store

    Property Details for 505 Red Banks Rd Ste B

    Year built
    1989
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.07 lot acres
    Property size
    3,050 SF
    Zone code
    CG
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    48892
    APU
    48892

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Greenville
    County
    Pitt
    State
    North Carolina
    Longitude
    -77.3723
    Latitude
    35.5819
    CBSA code
    24780
    CBSA name
    GREENVILLE, 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
    $4,343
    $120,764
    $249,334
    $370,098
    -
    $120,764
    $249,334
    $370,098

    Comparable in this City

    • Value Estimation
      $2,870,000
      28,342 SF

      518 Greenville SE Blvd

      SHOPPING CENTER, STRIP CENTER • 28,342 SF
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    • Value Estimation
      $965,000
      9,990 SF

      1011 Cotanche St

      SHOPPING CENTER, STRIP CENTER • 9,990 SF
      1011 Cotanche St, Greenville, NC 27858
      View Details
    • Value Estimation
      $3,965,000
      40,720 SF

      4420 10th St

      SHOPPING CENTER, STRIP CENTER • 40,720 SF
      4420 10th St, Greenville, NC 27858-0925
      View Details
    • Value Estimation by Request
      3,672 SF

      608 Arlington Blvd

      SHOPPING CENTER, STRIP CENTER • 3,672 SF
      608 Arlington Blvd, Greenville, NC 27858-5837
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    • Value Estimation by Request
      7,521 SF

      317 Arlington Blvd

      SHOPPING CENTER, STRIP CENTER • 7,521 SF
      317 Arlington Blvd, Greenville, NC 27858-5017
      View Details
    • Value Estimation by Request
      3,162 SF

      600 Arlington Blvd

      SHOPPING CENTER, STRIP CENTER • 3,162 SF
      600 Arlington Blvd, Greenville, NC 27858-5837
      View Details

    Similar Nearby for Sale

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    • $75,000
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      Residential Lot in Oak Hill

      Wooded 0.67 acre lot in established Greenville subdivision.
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      9,800 SF

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    Similar Nearby for Lease

    • $20 SF/Yr
      1,216 SF

      Retail Space in Lynndale Shoppes

      3,050 SF retail space in a busy commercial corridor.
      505 Red Banks Rd, Greenville, NC 27858
      View Details
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      2,800 SF

      Greenville Retail Space For Rent

      Retail space available in Cedar Pointe strip center.
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      Walmart Anchored Retail Center

      Shopping center with inline retail and outparcel opportunities.
      4600 East 10Th St, Greenville, NC 27858
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    • Contact for pricing
      2,999 SF

      Premier Mixed-Use Property in Uptown

      Retail, restaurant, or office spaces in Greenville's vibrant Uptown District.
      630 Cotanche St, Greenville, NC 27858
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    • Contact for pricing
      1 SF

      High-Visibility Retail Corner Site

      Freestanding building or ground lease opportunity in Greenville, NC.
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      Retail Space For Lease

      Retail property available for lease in Greenville, North Carolina.
      2120 East Fire Tower Rd, Greenville, NC 27858
      View Details

    Property Visit Statistics

    • Visits by month
      2.5k
    • Visitors by month
      2.3k
    • Avg Time on site
      31 min
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    Greenville, NC 27858-5734
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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.

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    505 Red Banks Rd Ste B, Greenville, NC, 27858
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