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    507 Main St Havelock, NC 28532-2203

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    507 Main St Havelock, NC 28532-2203

    View on Map
    • Retail space
    • 3,600 SF
    • 0.46 lot acres
    Off-Market
    Property ID
    US53-3606800
    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
    $715,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • El mercadito mexican store 2 / Food Market / Farmer's Market
    • Vigo / Bank / Credit Union

    Property Details for 507 Main St

    Year built
    1955
    Lot size
    0.46 lot acres
    Property size
    3,600 SF
    Property type
    Retail space
    APN
    6-067 -061-A
    APU
    6067061A

    Description

    This exceptional commercial property, located at 507 E MAIN Street in Havelock, NC, presents a compelling investment opportunity. The building boasts a substantial 3,600 square feet of space, offering ample room for a variety of commercial uses. Situated on a 0.46-acre lot, the property provides ample parking and potential for expansion or outdoor uses. The asking price is $650,000. The property's prime location on Main Street ensures high visibility and accessibility, making it an ideal choice for businesses seeking a strong presence in the Havelock market. The building's size and layout offer flexibility for customization to suit diverse business needs. This is a rare opportunity to acquire a well-positioned commercial property in a thriving community. The property is classified as "Other" in terms of property type, suggesting versatility in its potential applications. Serious inquiries are encouraged to explore the possibilities this property offers. Further details regarding the building's internal layout and zoning regulations are available upon request. Don't miss this chance to secure a valuable asset in a growing area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $899,000
      Market price range: $242k - $1.04M
      AI Estimate
      $490,000
      Market price range: $189k - $549k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $660,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $750,000
      Change: +14% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $670,000
      Change: +2% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $640,000
      Change: -3% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Havelock
    County
    Craven
    State
    North Carolina
    Longitude
    -76.9006
    Latitude
    34.8701
    CBSA code
    35100
    CBSA name
    NEW BERN, NC MICROPOLITAN 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
    $4,470
    $77,110
    $310,000
    $387,110
    -
    $77,110
    $310,000
    $387,110

    Comparable in this City

    • Value Estimation by Request
      1,912 SF

      708 Main St

      RETAIL STORES (PERSONAL SERVICES) • 1,912 SF
      708 Main St, Havelock, NC 28532-2314
      View Details
    • Value Estimation
      $1,340,000
      8,000 SF

      130 Main St

      RETAIL STORES (PERSONAL SERVICES) • 8,000 SF
      130 Main St, Havelock, NC 28532-2218
      View Details
    • Value Estimation by Request
      1,312 SF

      304 Main St

      RETAIL STORES (PERSONAL SERVICES) • 1,312 SF
      304 Main St, Havelock, NC 28532-2214
      View Details
    • Value Estimation by Request
      1,914 SF

      211 Main St

      RETAIL STORES (PERSONAL SERVICES) • 1,914 SF
      211 Main St, Havelock, NC 28532-2653
      View Details
    • Value Estimation
      $2,865,000
      20,000 SF

      402 Main St

      RETAIL STORES (PERSONAL SERVICES) • 20,000 SF
      402 Main St, Havelock, NC 28532-2612
      View Details
    • Value Estimation
      $585,000
      7,737 SF

      237 Main St

      RETAIL STORES (PERSONAL SERVICES) • 7,737 SF
      237 Main St, Havelock, NC 28532-2678
      View Details

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      Havelock Retail/Restaurant Opportunity For Sale

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    • $799,000
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      Investment Opportunity in Havelock

      Generating $5,300 monthly rental income; both sides occupied.
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    • $325,000
      1.08 Acres

      Commercial Land in Havelock, NC

      Commercial land suitable for gas station, supermarket, or mini mart.
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    Similar Nearby for Lease

    • $12 SF/Yr

      Prime Retail Space in Havelock

      Exceptional retail space with offices, ample parking, and high visibility.
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    • $12 SF/Yr

      Prime Retail Space in Havelock

      Exceptional retail space with offices, ample parking, and high visibility.
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      View Details
    • Contact for pricing
      5,100 SF

      Retail Space in Havelock, NC

      5,100 SF retail property available for lease.
      1413 E Main St, Havelock, NC 28532
      View Details
    • Contact for pricing

      Commercial Land Near US 70

      Cleared commercial land tract near US 70 in Havelock, NC.
      234 Us Highway 70 W, Havelock, NC 28532
      View Details
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    Havelock, NC 28532-2203
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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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    507 Main St, Havelock, NC, 28532

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