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

    707 Elm St Burlington, NC 27217

    • Retail space
    • 1,200 SF
    • 0.52 lot acres
    OFF-MARKET
    Last Sale
    Jun 23, 2020
    $115,000
    Value Estimations
    $105,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-1721574
    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

    • Lakeside Carwash / Car Wash

    Property Details for 707 Elm St

    Year built
    1956
    Lot size
    0.52 lot acres
    Property size
    1,200 SF
    Zone code
    R 6
    Property type
    Retail space
    APN
    126385
    APU
    126385

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $105,000
      ML approach
      $145,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $120,000
      Market price range: $58.7k - $154k
      AI Estimate
      $160,000
      Market price range: $55.5k - $243k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $110,000
      Current use
      AUTO REPAIR, GARAGE
      $140,000
      Change: +31% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $130,000
      Change: +21% Conversion: Easy
      OFFICE BUILDING
      $115,000
      Change: +7% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Burlington
    County
    Alamance
    State
    North Carolina
    Longitude
    -79.4444
    Latitude
    36.1087
    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
    2024
    $374
    $36,949
    $42,802
    $79,751
    -
    $36,949
    $42,802
    $79,751

    Comparable in this City

    • Value Estimation
      $260,000
      1,590 SF

      2642 Nc Hwy 49

      RETAIL STORES (PERSONAL SERVICES) • 1,590 SF
      2642 Nc Hwy 49, Burlington, NC 27217-9198
      View Details
    • Value Estimation
      $230,000
      644 SF

      702 Rauhut St

      RETAIL STORES (PERSONAL SERVICES) • 644 SF
      702 Rauhut St, Burlington, NC 27217-2464
      View Details
    • Value Estimation
      $245,000
      4,624 SF

      415 Church St, Unit 421

      RETAIL STORES (PERSONAL SERVICES) • 4,624 SF
      415 Church St, Burlington, NC 27217-2617
      View Details
    • Value Estimation
      $265,000
      360 SF

      2417 Webb Ave

      RETAIL STORES (PERSONAL SERVICES) • 360 SF
      2417 Webb Ave, Burlington, NC 27217-1071
      View Details
    • Value Estimation
      $225,000
      3,000 SF

      Webb Ave

      RETAIL STORES (PERSONAL SERVICES) • 3,000 SF
      Webb Ave, Burlington, NC 27217
      View Details
    • Value Estimation
      $240,000
      704 SF

      325 Elmira St

      RETAIL STORES (PERSONAL SERVICES) • 704 SF
      325 Elmira St, Burlington, NC 27217-1323
      View Details

    Similar Nearby for Sale

    • $895,900
      1.19 Acres

      Hopedale Road Commercial Property

      Burlington, NC Mixed-Use Redevelopment
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    • $85,000

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      High-traffic corner lot, versatile space for various business ventures.
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    • $389,000
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      Main Street Mixed-Use Building

      Remodeled mixed-use building with retail and residential potential.
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    • Contact for pricing
      1.05 Acres

      NC State Retail Development Site

      1.05-acre vacant lot, prime location.
      0 Bagwell Ave. & Hillsborough St, Burlington, NC 27217
      View Details
    • $56,000

      Residential Lot with Existing Building

      Subdivided 0.84-acre lot with septic system in Burlington, NC.
      904 Boone Rd, Burlington, NC 27217
      View Details
    • New
      $125,000
      Pending

      Burlington Land For Sale

      3.03 acres of land zoned for multi-family development.
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      View Details

    Similar Nearby for Lease

    • $9 SF/Yr
      10,625 SF

      Downtown Burlington Building For Rent

      Office and retail space in downtown Burlington with parking.
      707 S Main St, 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
    • Contact for pricing
      1,170 SF

      Retail Space in New Market

      Retail space available in New Market Square.
      2753-2781 S Church St, Burlington, NC 27217
      View Details
    • $4 SF/Yr
      68,135 SF

      Burlington Industrial Property For Sale

      68,135 SF Manufacturing/Warehouse in NC
      201 Cobb Ave, Burlington, NC 27217
      View Details
    • $25,550
      68,135 SF

      Burlington Manufacturing and Warehouse Space

      Manufacturing and warehouse space with highway access in Burlington, NC.
      201 N Cobb Ave, Burlington, NC 27217
      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
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    707 Elm St
    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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