Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    506 Harris Ave Raeford, NC 28376-3114

    • Office buildings
    • 840 SF
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-4568870
    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

    • Raeford Automotives LLC / Car Dealership

    Property Details for 506 Harris Ave

    Year built
    2013
    Construction
    FRAME
    Property size
    840 SF
    Property type
    Office buildings
    APN
    694340901138
    APU
    694340901138

    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
    Raeford
    County
    Hoke
    State
    North Carolina
    Longitude
    -79.2323
    Latitude
    34.9772
    CBSA code
    22180
    CBSA name
    FAYETTEVILLE, 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
    $1,412
    $66,600
    $126,770
    $193,370
    -
    $66,600
    $126,770
    $193,370

    Comparable in this City

    • Value Estimation
      $625,000
      7,500 SF

      3029 Fayetteville Rd

      OFFICE BUILDING • 7,500 SF
      3029 Fayetteville Rd, Raeford, NC 28376-8073
      View Details
    • Value Estimation by Request
      1,722 SF

      310 Birch St

      OFFICE BUILDING • 1,722 SF
      310 Birch St, Raeford, NC 28376-3297
      View Details
    • Value Estimation by Request
      8,079 SF

      129 Elwood Ave

      OFFICE BUILDING • 8,079 SF
      129 Elwood Ave, Raeford, NC 28376-2801
      View Details
    • Value Estimation by Request
      1,700 SF

      121 Elwood Ave

      OFFICE BUILDING • 1,700 SF
      121 Elwood Ave, Raeford, NC 28376-2801
      View Details
    • Value Estimation by Request
      2,057 SF

      712 Lk Rdg Rd

      OFFICE BUILDING • 2,057 SF
      712 Lk Rdg Rd, Raeford, NC 28376-7002
      View Details
    • Value Estimation by Request
      2,876 SF

      121 Main St

      OFFICE BUILDING • 2,876 SF
      121 Main St, Raeford, NC 28376-2807
      View Details

    Similar Nearby for Sale

    • $625,000
      1.00 Acre

      Prime Raeford Office Building

      7,185 SF Office, 1 Acre Lot
      3505 Us 401 Hwy, Raeford, NC 28376
      View Details
    • Contact for pricing

      Prime Raeford Office Space

      2,000 sq ft Office/Retail, Hwy 401
      220 Gridley Ln, Raeford, NC 28376
      View Details
    • $2,000,000
      9.81 Acres

      Prime Development Opportunity in Raeford

      9.815 acre commercial land parcel on Fayetteville Road/401.
      6415 Fayetteville Rd, Raeford, NC 28376
      View Details
    • $342,000
      11.40 Acres

      Residential Land in Raeford, NC

      11-acre residential land perfect for building or development.
      Kendrick Rd, Raeford, NC 28376
      View Details
    • $150,000
      0.46 Acres

      Raeford Land on Popular Corridor

      0.46 acre commercial land parcel in Raeford, North Carolina.
      1003 Fayetteville Rd, Raeford, NC 28376
      View Details
    • $46,500
      0.35 Acres

      Cleared Lot Near Ft. Liberty

      Cleared 0.35 acre lot near shopping and Ft. Liberty.
      Rockfish Rd, Raeford, NC 28376
      View Details

    Similar Nearby for Lease

    • $13 SF/Yr

      Raeford Office Suite with Balcony

      Second floor office suite with balcony available for lease.
      3505 Business, Raeford, NC 28376
      View Details
    • $18 SF/Yr
      2,000 SF

      Raeford Retail/Office Space Available

      High-visibility retail/office space in Raeford, near Ft. Bragg.
      220 Gridley Ln, Raeford, NC 28376
      View Details
    • $18 SF/Yr
      10,000 SF

      Prime Raeford Creative Office Space

      2,000 SF Available, Modern Office
      220 Gridley Ln, Raeford, NC 28376
      View Details
    • $22 SF/Yr
      12,000 SF

      Monroe's Crossing: Office Suites Available

      New Construction Office/Retail Space in Raeford
      1230 Fayetteville Rd, Raeford, NC 28376
      View Details
    • $27 SF/Yr
      10,400 SF

      The Shoppes at Bedford: Retail Opportunity

      High-traffic Raeford retail center; suites available
      101 Great Ln, Raeford, NC 28376
      View Details
    • $4,045 /Mo

      Retail Development Pre-Leasing Opportunity

      Planned retail development with high visibility, available for pre-leasing.
      3698 Johnson Mill Rd, Raeford, NC 28376
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    506 Harris Ave
    Raeford, NC 28376-3114
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!