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

    702 Main St Havelock, NC 28532-2314

    • Auto shops
    • 4,068 SF
    • 0.46 lot acres
    OFF-MARKET
    Last Sale
    Sep 14, 2021
    $689,000
    Value Estimations
    $1,065,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-3501448
    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

    • Strickland Brothers 10 Minute Oil Change and Inspection Station / Oil Change Service

    Property Details for 702 Main St

    Year built
    1997
    Lot size
    0.46 lot acres
    Property size
    4,068 SF
    Property type
    Auto shops
    APN
    6-067 -047
    APU
    6067047

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,445,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,220,000
      Market price range: $315k - $1.22M
      AI Estimate
      $832,000
      Market price range: $334k - $833k

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $760,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $850,000
      Change: +12% Conversion: Difficult
      RETAIL STORES
      $745,000
      Change: -2% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $725,000
      Change: -4% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Havelock
    County
    Craven
    State
    North Carolina
    Longitude
    -76.9006
    Latitude
    34.8677
    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
    2023
    $6,893
    $96,390
    $516,400
    $612,790
    -
    $96,390
    $516,400
    $612,790

    Comparable in this City

    • Value Estimation by Request
      1,445 SF

      2860 Nc Hwy 101

      AUTO REPAIR, GARAGE • 1,445 SF
      2860 Nc Hwy 101, Havelock, NC 28532-9244
      View Details
    • Value Estimation by Request
      0.40 Acres

      102 Ketner Blvd

      AUTO REPAIR, GARAGE • 0.40 Acres
      102 Ketner Blvd, Havelock, NC 28532-9642
      View Details
    • Value Estimation by Request
      2,550 SF

      901 Main St

      AUTO REPAIR, GARAGE • 2,550 SF
      901 Main St, Havelock, NC 28532-2340
      View Details
    • Value Estimation
      $840,000
      10,506 SF

      174 Us Hwy 70th W

      AUTO REPAIR, GARAGE • 10,506 SF
      174 Us Hwy 70th W, Havelock, NC 28532-9506
      View Details
    • Value Estimation by Request
      3,280 SF

      Smith Farm Rd

      AUTO REPAIR, GARAGE • 3,280 SF
      Smith Farm Rd, Havelock, NC 28532
      View Details
    • Value Estimation by Request
      768 SF

      4180 Nc Hwy 101

      AUTO REPAIR, GARAGE • 768 SF
      4180 Nc Hwy 101, Havelock, NC 28532-9270
      View Details

    Similar Nearby for Sale

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      1.08 Acres

      Commercial Land in Havelock, NC

      Commercial lot suitable for gas station, supermarket, or mini-mart.
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    • $895,000
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      Havelock Retail Frontage Investment

      High-traffic, 8,000 SF vacant storefront.
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    • $185,000

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      Nearly 1 acre of commercial land across from MCAS Cherry Point.
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    • $3,110,506
      13,813 SF

      Freestanding Walgreens in Havelock, NC

      Single tenant Walgreens with absolute NNN lease and zero responsibilities.
      101 W Main St, Havelock, NC 28532
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    • $679,000
      2,694 SF

      Havelock Restaurant - Hwy 70 East

      Prime Restaurant Space, Hwy 70, Havelock NC
      413 Main St, Havelock, NC 28532
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    • $75,000
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      Residential Lot in Havelock, NC

      Residential lot available for building a custom home.
      325 Farina Dr, Havelock, NC 28532
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    Similar Nearby for Lease

    • Contact for pricing

      Prime Retail Space in Havelock

      Exceptional retail space with offices, ample parking, and high visibility.
      Havelock, NC 28532
      View Details
    • $12 SF/Yr

      Prime Retail Space in Havelock

      Exceptional retail space with offices, ample parking, and high visibility.
      208 Roosevelt Blvd, Havelock, NC 28532
      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
    • $12 SF/Yr
      1,740 SF

      Retail Space in Havelock, NC

      Retail space in thriving Havelock market near Cherry Point.
      206 E Main St, Havelock, NC 28532
      View Details
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    702 Main St
    Havelock, NC 28532-2314
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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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