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    Property profile & analytics

    516 West St Pittsboro, NC 27312

    • Grocery and convenience stores
    • 1,787 SF
    • 0.30 lot acres
    For Sale
    View listing
    $49,000
    Last Sale
    Sep 29, 2021
    $510,000
    Value Estimations
    Cap Rate Potential
    5.8%
    Grocery and convenience stores
    Location Intelligence
    Property ID
    US53-5736516
    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

    • Top Notch Detailing LLC / Car Detailing Service
    • RockItCoin Bitcoin ATM / Atm
    • Luke's CITGO Corner Store / Gas Station
    • Luke's Corner Convenience & Gas / Gas Station / Convenience Store

    Property Details for 516 West St

    Year built
    1950
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.30 lot acres
    Property size
    1,787 SF
    Zone code
    C-2
    Property type
    Grocery and convenience stores
    APN
    8101
    APU
    8101

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $420,000
      ML approach
      $465,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $405,000
      6.5%
      $370,000
      7%
      $345,000

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $265,000
      RETAIL STORES
      $260,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Pittsboro
    County
    Chatham
    State
    North Carolina
    Longitude
    -79.1866
    Latitude
    35.721
    CBSA code
    20500
    CBSA name
    DURHAM-CHAPEL HILL, 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
    $3,298
    $99,000
    $194,173
    $293,173
    -
    $99,000
    $194,173
    $293,173

    Comparable in this City

    • Value Estimation
      $870,000
      48,725 SF

      630 Ee St

      GROCERY, SUPERMARKET • 48,725 SF
      630 Ee St, Pittsboro, NC 27312-9475
      View Details
    • Value Estimation
      $245,000
      4,900 SF

      43 Lifestyle Pl

      CONVENIENCE STORE • 4,900 SF
      43 Lifestyle Pl, Pittsboro, NC 27312-4944
      View Details
    • Value Estimation
      $13,620,000
      35,336 SF

      70 Ballentrae Ct

      GROCERY, SUPERMARKET • 35,336 SF
      70 Ballentrae Ct, Pittsboro, NC 27312-5456
      View Details
    • Value Estimation
      $210,000
      1,215 SF

      New Chatham Rd

      CONVENIENCE STORE • 1,215 SF
      New Chatham Rd, Pittsboro, NC 27312
      View Details
    • Value Estimation
      $245,000
      1,568 SF

      196 Sanford Rd

      CONVENIENCE STORE • 1,568 SF
      196 Sanford Rd, Pittsboro, NC 27312
      View Details
    • Value Estimation
      $270,000
      2,000 SF

      1161 Ee St

      CONVENIENCE STORE • 2,000 SF
      1161 Ee St, Pittsboro, NC 27312-8819
      View Details

    Similar Nearby for Sale

    • $500,000
      Pending

      Prime Location in Chatham County

      High visibility land with retail potential in Pittsboro, NC.
      3449 Us Hwy 15 501 N, Pittsboro, NC 27312
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    • Contact for pricing
      14.17 Acres

      Northwood Landing Retail Outparcel

      Prime Chatham Park retail land, ±14 acres.
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    • $49,000
      0.30 Acres

      Pittsboro Retail Space For Lease

      Profitable Convenience Store & Gas Station
      516 West St, Pittsboro, NC 27312
      View Details
    • $600,000
      5.80 Acres

      Pittsboro Land: Development or Homesite

      5.8 acres in Pittsboro, convenient to Hwy 64 and Chatham Park.
      Alston Horton Service Rd, Pittsboro, NC 27312
      View Details
    • $180,000
      4.96 Acres

      Wooded Land Near Pittsboro

      Nearly 5-acre wooded lot convenient to Pittsboro and Siler City.
      Wildwood Dr, Pittsboro, NC 27312
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    • $499,900
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      Prime Land in Pittsboro, NC

      Corner lot suitable for investors in growing Pittsboro downtown.
      Nc Hwy 902 & Richardson Rd, Pittsboro, NC 27312
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      14,000 SF

      Retail Center in Chatham Park

      Multi-tenant retail center with immediate availability in Pittsboro, NC.
      114 Russet Run, Pittsboro, NC 27312
      View Details
    • $4,700 /Mo
      2,960 SF

      Versatile Commercial Space in Pittsboro

      Flexible commercial space in downtown Pittsboro, suitable for various businesses.
      121 Thompson St, Pittsboro, NC 27312
      View Details
    • Contact for pricing
      8,235 SF

      Retail/Office Space in Mosaic

      Second-generation retail/office and restaurant spaces with great visibility.
      60 Mosaic Blvd, Pittsboro, NC 27312
      View Details
    • Contact for pricing
      35,000 SF

      Retail Spaces in Mosaic Community

      Retail spaces available for lease in mixed-use Mosaic community.
      Mosaic Blvd, Pittsboro, NC 27312
      View Details
    • Contact for pricing
      126,036 SF

      MOSAIC Office Space: Pittsboro, NC

      Modern Office Suites in Thriving Chatham Park
      0 Mosaic Blvd, Pittsboro, NC 27312
      View Details
    • Contact for pricing
      14,000 SF

      Penguin Place

      Neighborhood centers • 14,000 SF
      35 Suttles Rd, Pittsboro, NC 27312
      View Details
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    516 West St
    Pittsboro, NC 27312
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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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