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    624 Lillington Hwy Spring Lake, NC 28390-2266
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    Property profile & analytics

    624 Lillington Hwy, Spring Lake, NC 28390-2266

    View on Map
    • Super regional malls
    • 6,500 SF
    • 0.69 lot acres
    Off-Market
    Property ID
    US53-0663032
    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
    $755,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Osaka Japanese Express / Restaurant
    • US Tobacco and Vape / (Bike/Boat/Book/etc) Store
    • Sweetie Paws Dog Grooming / Pet Grooming Service
    • My Nails & Spa Salon / Nail Salon
    • BiBi's / Clothing & Fashion Store / (Bike/Boat/Book/etc) Store

    Property Details for 624 Lillington Hwy

    Year built
    2010
    Lot size
    0.69 lot acres
    Zone code
    CP
    Property type
    Super regional malls
    Property subtype
    Shopping centers
    APN
    0501-98-4175
    APU
    501984175

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Nov 20, 2019 $1,590,000 Y & B Property LLC Nlv Investment LLC Special Warranty Deed $1.1M · Pinnacle Bank
    Dec 22, 2015 $1,400,000 Nlv Investment LLC A North Carolina James J Cardi Realty Management LLC Warranty Deed $1M · Newbridge Bank
    Apr 3, 2012 $1,140,000 James J Cardi Realty Mgmt LLC Spring Lake Retail LLC Grant Deed $815k · Intervest National Bank
    May 3, 2010 $225,000 Spring Lake Retail LLC Wal-mart Realty Co Grant Deed $668k · Vista Bank
    Oct 9, 2007 $325,000 Wal-mart Realty Co Wal-mart R/e Busn Trust Warranty Deed · related —

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,085,000
      6.5%
      $1,000,000
      7%
      $930,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $546,000
      Market price range: $228k - $640k

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $860,000
      Current use
      MEDICAL BUILDING
      $1,105,000
      Change: +29% Conversion: Difficult
      OFFICE BUILDING
      $1,020,000
      Change: +19% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $985,000
      Change: +15% Conversion: Difficult
      RETAIL STORES
      $770,000
      Change: -10% Conversion: Easy
      COMMERCIAL (GENERAL)
      $735,000
      Change: -14% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Spring Lake
    County
    Cumberland
    State
    North Carolina
    Longitude
    -78.9683
    Latitude
    35.1737
    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
    2023
    $11,255
    $225,421
    $547,393
    $772,814
    -
    $225,421
    $547,393
    $772,814

    Comparable in this City

    • Value Estimation
      $1,060,000
      10,800 SF

      103 Sleepy Dr

      REGIONAL SHOPPING CENTER, MALL
      103 Sleepy Dr, Spring Lake, NC 28390-3324
      View Details
    • Value Estimation
      $845,000
      7,380 SF

      630 Bragg Blvd

      REGIONAL SHOPPING CENTER, MALL
      630 Bragg Blvd, Spring Lake, NC 28390-3598
      View Details
    • Value Estimation
      $1,515,000
      12,320 SF

      404 Bragg Blvd

      REGIONAL SHOPPING CENTER, MALL
      404 Bragg Blvd, Spring Lake, NC 28390-3354
      View Details
    • Value Estimation
      $980,000
      9,070 SF

      1006 Bragg Blvd

      REGIONAL SHOPPING CENTER, MALL
      1006 Bragg Blvd, Spring Lake, NC 28390-3366
      View Details
    • Value Estimation by Request
      1.81 Acres

      Watercliff Dr

      REGIONAL SHOPPING CENTER, MALL
      Watercliff Dr, Spring Lake, NC 28390
      View Details
    • Value Estimation
      $1,085,000
      12,500 SF

      501 Nc 210th N

      REGIONAL SHOPPING CENTER, MALL
      501 Nc 210th N, Spring Lake, NC 28390-2709
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      2,600 SF

      Former Circle K Redevelopment Opportunity

      1.58-acre parcel suitable for redevelopment or reuse.
      1886 N Bragg Blvd, Spring Lake, NC 28390
      View Details
    • Contact for pricing

      Commercial Land on Heavily Traveled Highway

      Over 5 acres with high traffic, near Fort Liberty.
      14230 Nc 210 S, Spring Lake, NC 28390
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    • Contact for pricing

      Redevelopment Opportunity with Double Drive-Thru

      0.70 acre site with existing drive-thru in Spring Lake.
      1105 N Bragg Blvd, Spring Lake, NC 28390
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    • Contact for pricing
      1,528 SF

      Commercial Land with Highway Frontage

      Commercially zoned property with high visibility and road frontage.
      1401 N Bragg Blvd, Spring Lake, NC 28390
      View Details
    • Contact for pricing
      736 SF

      Retail Space on Corner Lot

      Retail space in Spring Lake with high traffic count.
      601 Lillington Hwy, Spring Lake, NC 28390
      View Details
    • Contact for pricing

      Retail & Garage/Warehouse Building

      Retail and warehouse buildings on Bragg Blvd with high visibility.
      1218 N Bragg Blvd, Spring Lake, NC 28390
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Spring Lake Retail Space Available

      Retail spaces available in well-located Spring Lake shopping center.
      1139 N Bragg Blvd, Spring Lake, NC 28390
      View Details
    • Contact for pricing

      Retail Space Near Fort Bragg

      Retail space in Spring Lake, minutes from Fort Bragg.
      1060 Lillington Hwy, Spring Lake, NC 28390
      View Details
    • $62 SF/Yr
      6,000 SF

      Prime Spring Lake Warehouse

      6,000 SF Warehouse - Ideal Location
      212 Main St, Spring Lake, NC 28390
      View Details
    • Contact for pricing

      Land Available Near Fort Liberty

      Multiple outparcels for rent near Fort Liberty.
      Spring Ave, Spring Lake, NC 28390
      View Details
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    Spring Lake, NC 28390-2266
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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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