Sign Up Successful!
You now have access to more from Realmo!
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

    602 Vance NE St Wilson, NC 27893-3063

    • Garden apartment buildings
    • 2,475 SF
    • 0.53 lot acres
    OFF-MARKET
    Value Estimations
    $260,000
    Show details
    Cap Rate Potential
    6.8%
    Garden apartment buildings
    Location Intelligence
    Property ID
    US53-4208775
    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

    • Garden apartment buildings

    Property Details for 602 Vance NE St

    Year built
    1965
    Lot size
    0.53 lot acres
    Property size
    2,475 SF
    Property type
    Garden apartment buildings
    APN
    3722-23-2772.000
    APU
    3722232772000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $275,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $310,000
      6.5%
      $285,000
      7%
      $265,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $210,000
      Market price range: $131k - $280k
      AI Estimate
      $212,000
      Market price range: $131k - $231k

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $175,000
      Current use
      AUTO REPAIR, GARAGE
      $275,000
      Change: +59% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $220,000
      Change: +28% Conversion: Moderate
      OFFICE BUILDING
      $220,000
      Change: +28% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Wilson
    County
    Wilson
    State
    North Carolina
    Longitude
    -77.9141
    Latitude
    35.7337
    CBSA code
    48980
    CBSA name
    WILSON, 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
    2021
    $0.00
    $29,396
    $129,224
    $158,620
    -
    $29,396
    $129,224
    $158,620

    Comparable in this City

    • Value Estimation
      $340,000
      7,862 SF

      200 Atlantic Christian Col W Dr

      GARDEN APT, COURT APT (5+ UNITS) • 7,862 SF
      200 Atlantic Christian Col W Dr, Wilson, NC 27893-3062
      View Details
    • Value Estimation
      $390,000
      4,290 SF

      1101 Corbett N Ave

      GARDEN APT, COURT APT (5+ UNITS) • 4,290 SF
      1101 Corbett N Ave, Wilson, NC 27893-1907
      View Details
    • Value Estimation
      $175,000
      3,048 SF

      903 Crawford S St

      GARDEN APT, COURT APT (5+ UNITS) • 3,048 SF
      903 Crawford S St, Wilson, NC 27893-5957
      View Details
    • Value Estimation
      $275,000
      2,430 SF

      1611 Fikewood E St

      GARDEN APT, COURT APT (5+ UNITS) • 2,430 SF
      1611 Fikewood E St, Wilson, NC 27893-5587
      View Details
    • Value Estimation
      $815,000
      4,008 SF

      4626 Ward Blvd

      GARDEN APT, COURT APT (5+ UNITS) • 4,008 SF
      4626 Ward Blvd, Wilson, NC 27893-4370
      View Details
    • Value Estimation
      $100,000
      4,258 SF

      306 Maplewood NE Ave

      GARDEN APT, COURT APT (5+ UNITS) • 4,258 SF
      306 Maplewood NE Ave, Wilson, NC 27893-3267
      View Details

    Similar Nearby for Sale

    • $715,000

      Ten-Unit Apartment Complex For Sale

      Ten-unit apartment complex with all units currently leased.
      506 Maplewood Ave, Wilson, NC 27893
      View Details
    • New
      $225,000
      1,950 SF

      Multifamily Property in Wilson, NC

      Two homes on one lot, ideal for income or multigenerational.
      714 Pender St S, Wilson, NC 27893
      View Details
    • New
      $50,000
      Pending

      Wilson, NC Triplex For Sale

      Triplex with rental income potential in Wilson, North Carolina.
      104 Parkview St W, Wilson, NC 27893
      View Details
    • New
      $75,000
      Pending

      Duplex in Wilson, North Carolina

      Duplex with solid rental history, great investment opportunity.
      628 Viola St E, Wilson, NC 27893
      View Details
    • $50,000
      Pending

      Wilson, NC Triplex For Sale

      Triplex with existing rental income in Wilson, North Carolina.
      102 Parkview St W, Wilson, NC 27893
      View Details
    • $50,000
      Pending

      Wilson, NC Triplex For Sale

      Triplex with two of three units currently rented.
      104 Parkview St W, Wilson, NC 27893
      View Details

    Similar Nearby for Lease

    • $4 SF/Yr
      197,366 SF

      Wilson County Warehouse Space

      151,108 SF Warehouse, Excellent Location
      3040 Black Creek Rd, Wilson, NC 27893
      View Details
    • $8 SF/Yr
      21,700 SF

      New Industrial Building in Wilson

      Class A industrial building with preleasing opportunities in Wilson, NC.
      2111 Industrial Park Dr SE, Wilson, NC 27893
      View Details
    • $35 SF/Yr
      1,015 SF

      Retail Space Near Interstate 95

      Retail spaces available near I-95, from 1,015 to 5,955 SF.
      5442 Lamm Rd, Wilson, NC 27893
      View Details
    • $3,000 /Mo
      6,867 SF

      Retail Space in Downtown Wilson

      Retail opportunity in high-traffic area near downtown Wilson.
      310 Nash St NE, Wilson, NC 27893
      View Details
    • $2,400 /Mo
      Pending

      Retail or Restaurant Space Available

      High-traffic shopping center space suitable for retail or restaurant.
      4000 Ward Blvd, Wilson, NC 27893
      View Details
    • New
      $950 /Mo
      1,635 SF

      Commercial Space in Wilson, NC

      Office or retail space near downtown Wilson, close to attractions.
      606 Fairview Ave SW, Wilson, NC 27893
      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.
    602 Vance NE St
    Wilson, NC 27893-3063
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.