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

    723 Lenora St Burlington, NC 27217-1247

    • Warehouses
    • 2,689 SF
    • 0.47 lot acres
    OFF-MARKET
    Value Estimations
    $295,000
    Show details
    Cap Rate Potential
    7.9%
    Warehouses
    Location Intelligence
    Property ID
    US53-1371322
    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

    • Warehouses

    Property Details for 723 Lenora St

    Year built
    1981
    Lot size
    0.47 lot acres
    Property size
    2,689 SF
    Zone code
    R 9
    Property type
    Warehouses
    APN
    127770
    APU
    127770

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $270,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $355,000
      6.5%
      $325,000
      7%
      $305,000

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $315,000
      COMMERCIAL (GENERAL)
      $290,000
      OFFICE BUILDING
      $260,000
      RETAIL STORES
      $240,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Burlington
    County
    Alamance
    State
    North Carolina
    Longitude
    -79.4509
    Latitude
    36.1136
    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
    $268
    $26,774
    $22,090
    $48,864
    -
    $26,774
    $22,090
    $48,864

    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
      16,800 SF

      Burlington Industrial Building with Loading

      Industrial building near downtown Burlington with loading dock.
      230 E Hawkins St, Burlington, NC 27217
      View Details
    • $22,080,000
      736,000 SF

      Historic Burlington Industrial Campus

      Large industrial campus with redevelopment potential in a growing region.
      204 N Graham Hopedale Rd, Burlington, NC 27217
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    • $99,000
      2.70 Acres

      Burlington Commercial Land - $99K

      2.7-acre commercial lot, prime location.
      2214 Webb Ave, Burlington, NC 27217
      View Details
    • 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
    • Contact for pricing
      Pending

      Wooded Lot in Burlington, NC

      Residential land with road frontage in Alamance County.
      Durham Street Ext, Burlington, NC 27217
      View Details
    • Contact for pricing
      Pending

      Wooded Lot in Burlington, NC

      Wooded 0.58 acre lot with road frontage in Burlington.
      Durham Street Ext, Burlington, NC 27217
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      18,750 SF

      Burlington Warehouse: 18,750 SF

      Spacious Alamance County warehouse available.
      664 Gilmer 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
    • $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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    723 Lenora St
    Burlington, NC 27217-1247
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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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