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

    707 E Webb Ave Burlington, NC 27217

    • Warehouses
    • 9,669 SF
    • 0.26 lot acres
    For Lease
    View listing
    $7 SF/Yr
    Last Sale
    Aug 26, 2024
    Value Estimations
    $310,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-2047960
    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

    • Mt Zion. Apostolic Pentecostal. Church / Place Of Worship

    Property Details for 707 E Webb Ave

    Year built
    1910
    Lot size
    0.26 lot acres
    Property size
    9,669 SF
    Zone code
    I 3
    Property type
    Warehouses
    APN
    136896
    APU
    136896

    Description

    This exceptional 13,961 square foot building, situated on a 0.39-acre lot at 707 E Webb Ave, Burlington, NC, presents a unique leasing opportunity. The property, originally constructed in 1910, boasts a rich history and offers adaptable space suitable for retail, office, or warehouse use. The two-story building features 10,714 square feet of above-grade space and 3,247 square feet of below-grade space, divisible to a minimum of 2,500 square feet. The property includes one loading dock with one dock-high door and ample parking for 15 vehicles. Located in Alamance County, this prime location on Webb Avenue offers high visibility and convenient access to major transportation routes. It's within easy reach of Durham, Chapel Hill, Greensboro, Raleigh, and Winston-Salem, making it ideal for businesses seeking a central location. The building retains historic charm with hardwood floors throughout much of the space and features hanging gas heaters. The below-grade space offers significant storage potential, with the possibility of adding a cargo elevator for enhanced accessibility. This adaptable space, previously used as a mill, church, and thrift store, offers a unique blend of character and practicality. The property is currently fully vacant and ready for immediate occupancy.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $245,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $374,000
      Market price range: $184k - $1.14M
      AI Estimate
      $366,000
      Market price range: $211k - $961k

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

    Location Insight

    • Map
    • Local Demand
    City
    Burlington
    County
    Alamance
    State
    North Carolina
    Longitude
    -79.4298
    Latitude
    36.0877
    CBSA code
    15500
    CBSA name
    BURLINGTON, 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
    $605
    $8,745
    $131,407
    $140,152
    -
    $8,745
    $131,407
    $140,152

    Comparable in this City

    • Value Estimation
      $265,000
      1.36 Acres

      1547 Graham Hopedale Rd

      STORAGE YARD, OPEN STORAGE • 1.36 Acres
      1547 Graham Hopedale Rd, Burlington, NC 27217-1819
      View Details
    • Value Estimation
      $265,000
      4,800 SF

      49 Nc Hwy

      WAREHOUSE, STORAGE • 4,800 SF
      49 Nc Hwy, Burlington, NC 27217
      View Details
    • Value Estimation
      $260,000
      2,800 SF

      226 Cobb Ave

      WAREHOUSE, STORAGE • 2,800 SF
      226 Cobb Ave, Burlington, NC 27217-4210
      View Details
    • Value Estimation
      $255,000
      3,520 SF

      Hawkins St

      WAREHOUSE, STORAGE • 3,520 SF
      Hawkins St, Burlington, NC 27217
      View Details
    • Value Estimation
      $190,000
      1,360 SF

      215 Church St

      WAREHOUSE, STORAGE • 1,360 SF
      215 Church St, Burlington, NC 27217-2613
      View Details
    • Value Estimation
      $4,800,000
      119,700 SF

      1737 Flora Ave

      WAREHOUSE, STORAGE • 119,700 SF
      1737 Flora Ave, Burlington, NC 27217
      View Details

    Similar Nearby for Sale

    • $400,000
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      Burlington Industrial Building with Loading

      Industrial building near downtown Burlington with loading dock.
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      View Details
    • $22,080,000
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      Large industrial campus with redevelopment potential in a growing region.
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    • $99,000
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      Burlington Commercial Land - $99K

      2.7-acre commercial lot, prime location.
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      View Details
    • Contact for pricing
      1.05 Acres

      NC State Retail Development Site

      1.05-acre vacant lot, prime location.
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      Pending

      Wooded Lot in Burlington, NC

      Residential land with road frontage in Alamance County.
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    • Contact for pricing
      Pending

      Wooded Lot in Burlington, NC

      Wooded 0.58 acre lot with road frontage in Burlington.
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    Similar Nearby for Lease

    • Contact for pricing
      18,750 SF

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    • $4 SF/Yr
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      Burlington Industrial Property For Sale

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    • $25,550
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      Burlington Manufacturing and Warehouse Space

      Manufacturing and warehouse space with highway access in Burlington, NC.
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      View Details
    • $4 SF/Yr
      30,000 SF

      Burlington Warehouse Space Available

      30,000 SF warehouse space for lease in Burlington.
      2119 Webb Ave, Burlington, NC 27217
      View Details
    • $7 SF/Yr
      13,961 SF

      Versatile Burlington Building For Lease

      Adaptable commercial space suitable for office, warehouse, or retail use.
      707 E Webb Ave, Burlington, NC 27217
      View Details
    • $12 SF/Yr
      12,000 SF

      Flex Industrial Building For Rent

      12,000 SF flex industrial building with flexible layouts available.
      160 Greenwood Dr, Burlington, NC 27217
      View Details
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    707 E Webb Ave
    Burlington, NC 27217
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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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