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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    700 Ehringhaus St Elizabeth City, NC 27909

    • Commercial real estate
    • 1.18 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-4792702
    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

    • Commercial real estate

    Property Details for 700 Ehringhaus St

    Lot size
    1.18 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional 1.18-acre commercial land parcel presents a rare development opportunity in Elizabeth City, North Carolina. Located at the highly visible corner of West Ehringhaus and Westover Streets, this property boasts 146 feet of frontage on West Ehringhaus Street and benefits from a substantial daily traffic count of 21,000 vehicles. The site is comprised of five individual lots, two of which currently feature residential structures situated towards the rear. The property's strategic location offers excellent visibility and accessibility, enhanced by five existing curb cuts. All necessary infrastructure is in place, with water and sewer taps already available. The property is zoned for General Business use, making it suitable for a wide range of commercial developments. A survey is readily available for review. This is one of the last remaining undeveloped corner lots on West Ehringhaus Street, representing a unique chance to capitalize on a prime location with significant development potential. The asking price for this exceptional property is $449,000. Don't miss this opportunity to acquire a highly desirable commercial land parcel in a thriving area. The property is located in Pasquotank County, North Carolina, with a zip code of 27909.

    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
    Elizabeth City
    County
    Pasquotank
    State
    North Carolina
    Longitude
    -76.2302
    Latitude
    36.2961

    Comparable in this City

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      Elizabeth City Commercial Road Frontage

      1.5 acre commercial lot with high traffic volume.
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    • $69,900
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      Elizabeth City Commercial Road Frontage

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    • $890,000
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      Waterfront Land on Pasquotank River

      19.91 acres of I-2 zoned land on the river.
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    • $199,000
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      Commercial Land on Heavily Traveled Thoroughfare

      0.90 acre commercial vacant lot in Elizabeth City, NC.
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    • $75,000
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      Land Near ECSU and USCG

      Residential land available near ECSU and USCG Base.
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    • New
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      Waterfront Lot in Sunset Pointe

      1.71 acre waterfront lot with community amenities in Elizabeth City.
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    Similar Nearby for Sale

    • $64,900
      65,340.00 Acres

      Elizabeth City Commercial Road Frontage

      1.5 acre commercial lot with high traffic volume.
      108 Northside Park Dr, Elizabeth City, NC 27909
      View Details
    • $69,900
      65,340.00 Acres

      Elizabeth City Commercial Road Frontage

      1.5 acre road frontage lot with high visibility.
      112 Northside Park Dr, Elizabeth City, NC 27909
      View Details
    • $890,000
      19.91 Acres

      Waterfront Land on Pasquotank River

      19.91 acres of I-2 zoned land on the river.
      191 Knobbs Creek Dr, Elizabeth City, NC 27909
      View Details
    • $199,000
      0.90 Acres

      Commercial Land on Heavily Traveled Thoroughfare

      0.90 acre commercial vacant lot in Elizabeth City, NC.
      120 E Ehringhaus St, Elizabeth City, NC 27909
      View Details
    • $75,000
      0.71 Acres

      Land Near ECSU and USCG

      Residential land available near ECSU and USCG Base.
      Halstead Boulevard Ext, Elizabeth City, NC 27909
      View Details
    • New
      $70,000
      1.71 Acres

      Waterfront Lot in Sunset Pointe

      1.71 acre waterfront lot with community amenities in Elizabeth City.
      401 Pointe Vista Dr, Elizabeth City, NC 27909
      View Details

    Similar Nearby for Lease

    • $9 SF/Yr
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      Roses Plaza Retail Space - Elizabeth City, NC

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      Retail Space in Elizabeth City

      1,400 SF retail space for lease in Elizabeth City.
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      Elizabeth City Medical Office Space

      3,375 SF medical office space for lease.
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      Elizabeth City Retail Space Available

      3,000 SF commercial space with drive-thru in Elizabeth City.
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    • $149,864
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      Elizabeth City Medical/Office Building

      Three-story building suitable for medical or office use.
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    700 Ehringhaus St
    Elizabeth City, NC 27909
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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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