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

    708 Park St Elizabeth City, NC 27909-5734

    • Commercial land
    • 0.06 lot acres
    OFF-MARKET
    Last Sale
    Apr 04, 2022
    $500
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-4449580
    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

    • Commercial land

    Property Details for 708 Park St

    Lot size
    0.06 lot acres
    Zone code
    R-6
    Property type
    Commercial land
    APN
    892309063100
    APU
    892309063100

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Elizabeth City
    County
    Pasquotank
    State
    North Carolina
    Longitude
    -76.2162
    Latitude
    36.2906
    CBSA code
    21020
    CBSA name
    ELIZABETH CITY, 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
    $0.00
    $0.00
    $0.00
    $46,000
    -
    $46,000
    $0.00
    $46,000

    Comparable in this City

    • Value Estimation by Request
      0.54 Acres

      1208 Main St

      VACANT COMMERCIAL LAND • 0.54 Acres
      1208 Main St, Elizabeth City, NC 27909-3761
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    • Value Estimation by Request
      0.04 Acres

      800 Martin St

      VACANT COMMERCIAL LAND • 0.04 Acres
      800 Martin St, Elizabeth City, NC 27909-5248
      View Details
    • Value Estimation by Request
      0.06 Acres

      508 Mcmorrine St

      VACANT COMMERCIAL LAND • 0.06 Acres
      508 Mcmorrine St, Elizabeth City, NC 27909-4954
      View Details
    • Value Estimation by Request
      1.00 Acre

      106 Ml End Ct

      VACANT COMMERCIAL LAND • 1.00 Acre
      106 Ml End Ct, Elizabeth City, NC 27909-8986
      View Details
    • Value Estimation by Request
      0.49 Acres

      104 Nance Ct

      VACANT COMMERCIAL LAND • 0.49 Acres
      104 Nance Ct, Elizabeth City, NC 27909-6992
      View Details
    • Value Estimation by Request
      1.50 Acres

      101 Northside Park

      VACANT COMMERCIAL LAND • 1.50 Acres
      101 Northside Park, Elizabeth City, NC 27909-9338
      View Details

    Similar Nearby for Sale

    • $84,900
      65,434.00 Acres

      Elizabeth City Commercial Land For Sale

      1.5 acre lot with high traffic and road frontage.
      106 Northside Park Dr, Elizabeth City, NC 27909
      View Details
    • $89,900
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      Commercial Land with Highway Frontage

      High-visibility commercial land near SECU in Elizabeth City, NC.
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    • $149,900
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      Corner Lot with Highway Frontage

      High-visibility commercial land with highway frontage in Elizabeth City, NC.
      101 Northside Park Dr, Elizabeth City, NC 27909
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    • $95,000
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      Commercial Lot on US 17

      1.408 acre commercial lot with high visibility.
      Us Highway 17 S, Elizabeth City, NC 27909
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    • $35,000
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      Corner Lot on Highway 17

      Highway Business zoned corner lot on US Highway 17.
      831 Trinkaloe Rd, Elizabeth City, NC 27909
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    • $150,000
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      Elizabeth City Land For Sale

      One acre of land in a high-traffic area.
      P120-36 W Church Ext, Elizabeth City, NC 27909
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    Similar Nearby for Lease

    • Contact for pricing
      2,000 SF

      Southgate Park Retail Space

      Elizabeth City, NC storefront opportunity
      1409 Ehringhaus St, Elizabeth City, NC 27909
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    • $6,942 /Mo
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      Professional Office Space For Lease

      Professional office space available near new hospital in Elizabeth City.
      1880 W City Dr Unit, Elizabeth City, NC 27909
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    • $1,827 /Mo
      1,200 SF

      Elizabeth City Commercial Unit For Rent

      Commercial unit with open layout, high ceilings, and in-unit bathroom.
      1831 Weeksville Rd Unit, Elizabeth City, NC 27909
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    • $2,200 /Mo
      1,400 SF

      Retail/Office Space in Elizabeth City

      Versatile 1,400 sqft commercial unit in established shopping center.
      1855 W Ehringhaus St, Elizabeth Cty, NC 27909
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    • $1,250 /Mo
      800 SF

      Retail/Office Space in Elizabeth City

      800 sqft commercial unit for lease in Port Elizabeth Center.
      1857 W Ehringhaus St, Elizabeth City, NC 27909
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    • $1,400 /Mo
      Pending

      Office Space in High-Traffic Location

      Office space in Elizabeth City with high visibility and new HVAC.
      1409 W Church St, Elizabeth City, NC 27909
      View Details
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    708 Park St
    Elizabeth City, NC 27909-5734
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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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