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    704 W Morganton Rd Southern Pines, NC 28388
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    704 W Morganton Rd Southern Pines, NC 28388

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    • Commercial land
    For Sale
    $700,000
    View Listing →
    Prime Land For Sale For Sale
    $700,000

    Prime Land For Sale

    1.32 acre commercial land in high retail development area.

    704 W Morganton Rd, Southern Pines, NC 28387
    View Listing
    Property ID
    US53-5233372
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial land

    Property Details for 704 W Morganton Rd

    Property type
    Commercial land
    Property subtype
    Commercial real estate

    Description

    Prime location for sale with 1.32 +/- acres near corner of W Morganton Rd and S Henley St in a high retail development area. Property is located less than 2 miles from Southern Pines Village, Pinecrest Plaza, Morganton Park South and US-1. Currently zoned FRR and property will need to go through rezoning process if any commercial application is envisioned.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Southern Pines
    County
    Moore
    State
    North Carolina
    Longitude
    -79.4668172
    Latitude
    35.1843598

    Comparable in this City

    • $165,000
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      Southern Pines Commercial Land Opportunity

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      375 Rothney Ave, Southern Pines, NC 28387
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    • $120,000
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      Industrial Land in Southern Pines

      Half-acre industrial lot near Southern Pines Brewery.
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    • $165,000

      Commercial Land Ready For Redevelopment

      Vacant land parcel for redevelopment in high-growth market.
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    • $44,900
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      Land in Southern Pines, NC

      Land opportunity in a great Southern Pines location.
      W Indiana Ave, Southern Pines, NC 28387
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    • $1,400,000
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      Southern Pines Commercial Investment Opportunity

      Prime commercial land near downtown Southern Pines and Pinehurst.
      Southern Rd, Southern Pines, NC 28387
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    • $3,500,000

      Prime Commercial Land in Southern Pines

      5+/- acre commercial land parcel ideal for retail development.
      285 W Morganton Rd, Southern Pines, NC 28387
      View Details

    Similar Nearby for Sale

    • $165,000
      0.75 Acres

      Southern Pines Commercial Land Opportunity

      Commercial land for sale in a growing Southern Pines market.
      375 Rothney Ave, Southern Pines, NC 28387
      View Details
    • $120,000
      0.47 Acres

      Industrial Land in Southern Pines

      Half-acre industrial lot near Southern Pines Brewery.
      520 Air Tool Dr, Southern Pines, NC 28387
      View Details
    • $165,000

      Commercial Land Ready For Redevelopment

      Vacant land parcel for redevelopment in high-growth market.
      375 Rothney Ave, Southern Pines, NC 28387
      View Details
    • $44,900
      0.12 Acres

      Land in Southern Pines, NC

      Land opportunity in a great Southern Pines location.
      W Indiana Ave, Southern Pines, NC 28387
      View Details
    • $1,400,000
      2.05 Acres

      Southern Pines Commercial Investment Opportunity

      Prime commercial land near downtown Southern Pines and Pinehurst.
      Southern Rd, Southern Pines, NC 28387
      View Details
    • $3,500,000

      Prime Commercial Land in Southern Pines

      5+/- acre commercial land parcel ideal for retail development.
      285 W Morganton Rd, Southern Pines, NC 28387
      View Details

    Similar Nearby for Lease

    • $3,500 /Mo
      56,628 SF

      Commercial Land in Southern Pines

      1.297-acre commercial land site for lease in a high-traffic area.
      Pinehurst Ave, Southern Pines, NC 28387
      View Details
    • Contact for pricing

      Retail Building in Morganton Park

      Retail space in master-planned community near shopping and amenities.
      1752 Old Morganton Rd, Southern Pines, NC 28387
      View Details
    • $825 /Mo
      112 SF

      Downtown Southern Pines Office Space

      Single office in multi-tenant building, walking distance to amenities.
      250 W Pennsylvania Ave, Southern Pines, NC 28387
      View Details
    • Contact for pricing

      Multi-Tenant Commercial Property For Rent

      Multi-tenant commercial property near downtown Southern Pines available for rent.
      1295 Old Us Highway 1, Southern Pines, NC 28387
      View Details
    • Contact for pricing

      Retail Space in Southern Pines

      Community shopping center anchored by Belk and Food Lion.
      1 Pinecrest Plz, Southern Pines, NC 28387
      View Details
    • $5,500 /Mo
      3,000 SF

      Southern Pines Professional Office Space

      Multi-tenanted building perfect for medical or health care services.
      340 Commerce Ave, Southern Pines, NC 28387
      View Details
    View Listing
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    Southern Pines, NC 28388
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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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