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    Property profile & analytics

    702 S Main St Randleman, NC 27317

    • Medical offices
    • 2,948 SF
    • 0.73 lot acres
    For Sale
    View listing
    $329,000
    Last Sale
    Dec 07, 2021
    $235,000
    Value Estimations
    Cap Rate Potential
    5%
    Medical offices
    Location Intelligence
    Property ID
    US53-2123597
    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

    • Labcorp / Medical Laboratory
    • Jernejcic Tara C / Nursing Agency
    • Dr. Jerome I. Davis, MD / Family Practice Physician
    • Dr. Kathleen E. Zeller, MD / Obstetrician-Gynecologist
    • Regina York / Nurse Practitioner

    Property Details for 702 S Main St

    Year built
    1962
    Construction
    WOOD
    Lot size
    0.73 lot acres
    Property size
    2,948 SF
    Zone code
    B2
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    7764193848
    APU
    7764193848

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $200,000
      ML approach
      $190,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $170,000
      6.5%
      $155,000
      7%
      $145,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $135,000
      Market price range: $74.8k - $284k

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $195,000
      Current use
      COMMERCIAL (GENERAL)
      $325,000
      Change: +67% Conversion: Easy
      RETAIL STORES
      $275,000
      Change: +42% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $235,000
      Change: +20% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Randleman
    County
    Randolph
    State
    North Carolina
    Longitude
    -79.8047
    Latitude
    35.808
    CBSA code
    24660
    CBSA name
    GREENSBORO-HIGH POINT, 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
    $3,307
    $62,120
    $230,550
    $292,670
    -
    $62,120
    $230,550
    $292,670

    Comparable in this City

    • Value Estimation
      $220,000
      2,394 SF

      604 Academy St

      MEDICAL BUILDING • 2,394 SF
      604 Academy St, Randleman, NC 27317-9748
      View Details
    • Value Estimation
      $225,000
      4,576 SF

      670 Academy St

      MEDICAL BUILDING • 4,576 SF
      670 Academy St, Randleman, NC 27317-9748
      View Details
    • Value Estimation
      $220,000
      2,678 SF

      109 Naomi St

      MEDICAL BUILDING • 2,678 SF
      109 Naomi St, Randleman, NC 27317-1731
      View Details
    • Value Estimation
      $485,000
      4,271 SF

      107 Naomi St

      MEDICAL BUILDING • 4,271 SF
      107 Naomi St, Randleman, NC 27317-1731
      View Details
    • Value Estimation
      $220,000
      4,326 SF

      101 Stout St

      MEDICAL BUILDING • 4,326 SF
      101 Stout St, Randleman, NC 27317-1540
      View Details
    • Value Estimation
      $235,000
      5,000 SF

      608 Academy St

      MEDICAL BUILDING • 5,000 SF
      608 Academy St, Randleman, NC 27317-9748
      View Details

    Similar Nearby for Sale

    • $329,000

      Medical Office on S Main

      Medical office with multiple exam rooms and large parking lot.
      702 S Main St, Randleman, NC 27317
      View Details
    • $299,000
      2.47 Acres

      High-Visibility Randleman Commercial Lot

      Prime 2.47-Acre Commercial Land
      1113 Main St, Randleman, NC 27317
      View Details
    • $165,000
      1.31 Acres

      Randleman Industrial Lot - 1.31 Acres

      Prime industrial land, ready for development.
      113 Central Piedmont Ct, Randleman, NC 27317
      View Details
    • Contact for pricing
      0.50 Acres

      Serene Wooded Lot in Cana

      0.5-acre lot near Hwy 52, I77, Mount Airy.
      24 And 302, Randleman, NC 27317
      View Details
    • $8,500,000

      284 Acres of Undeveloped Land

      Over 284 acres of land ideal for multiple development purposes.
      9135 Us Highway 220, Randleman, NC 27317
      View Details
    • $649,000

      Land Overlooking Deep River

      Land ideal for multifamily project near Randleman Greenway.
      E Naomi St, Randleman, NC 27317
      View Details
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    702 S Main St
    Randleman, NC 27317
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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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