Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    731 Main St Washington, NC 27889-5120

    • Garden apartment buildings
    • 16,988 SF
    • 0.92 lot acres
    OFF-MARKET
    Value Estimations
    $690,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-4639297
    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

    • Elmwood 1820 Bed & Breakfast Inn / Bed & Breakfast / Restaurant
    • Armory Pointe Apartments / Apartment Building
    • Havens garden park / Park
    • Belle of Washington / (Bike/Boat/Book/etc) Store

    Property Details for 731 Main St

    Year built
    1936
    Lot size
    0.92 lot acres
    Property size
    16,988 SF
    Property type
    Garden apartment buildings
    APN
    5685-16-6349
    APU
    5685166349

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $425,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $957,000
      Market price range: $733k - $2.44M

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

    Location Insight

    • Map
    • Local Demand
    City
    Washington
    County
    Beaufort
    State
    North Carolina
    Longitude
    -77.0448
    Latitude
    35.5379
    CBSA code
    47820
    CBSA name
    WASHINGTON, 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
    2024
    $13,302
    $82,800
    $740,309
    $823,109
    -
    $82,800
    $740,309
    $823,109

    Comparable in this City

    • Value Estimation by Request
      6,600 SF

      1015 Fowle Dr

      GARDEN APT, COURT APT (5+ UNITS) • 6,600 SF
      1015 Fowle Dr, Washington, NC 27889-4288
      View Details
    • Value Estimation
      $1,035,000
      2,385 SF

      902 Hackney Ave

      GARDEN APT, COURT APT (5+ UNITS) • 2,385 SF
      902 Hackney Ave, Washington, NC 27889-4254
      View Details
    • Value Estimation by Request
      7,344 SF

      88 Nck Rd

      GARDEN APT, COURT APT (5+ UNITS) • 7,344 SF
      88 Nck Rd, Washington, NC 27889-8048
      View Details
    • Value Estimation by Request
      7,344 SF

      64 Nck Rd

      GARDEN APT, COURT APT (5+ UNITS) • 7,344 SF
      64 Nck Rd, Washington, NC 27889-9547
      View Details
    • Value Estimation by Request
      6,392 SF

      630 Tarboro St

      GARDEN APT, COURT APT (5+ UNITS) • 6,392 SF
      630 Tarboro St, Washington, NC 27889-4153
      View Details
    • Value Estimation by Request
      14,643 SF

      888 2nd St

      GARDEN APT, COURT APT (5+ UNITS) • 14,643 SF
      888 2nd St, Washington, NC 27889-4783
      View Details

    Similar Nearby for Sale

    • $2,900,000
      5.89 Acres

      Prime Waterfront Land, Washington, NC

      5.89 Acres, Stunning River Views, Development Ready
      0 Us Highway 17, Washington, NC 27889
      View Details
    • $360,000
      3,714 SF

      Updated Multi-Family with Pool

      Updated two-unit property with pool, garage, and income potential.
      3613 River Rd, Washington, NC 27889
      View Details
    • $1,350,000
      3.50 Acres

      Prime Washington, NC Commercial Land

      3.5 Acres, $1.35M - Development Opportunity
      814 15Th St, Washington, NC 27889
      View Details
    • $625,000
      3,300 SF

      Waterfront Property in Little Washington

      Rare waterfront property with development potential in downtown Little Washington.
      1054 E Main St, Washington, NC 27889
      View Details
    • $250,000
      14.38 Acres

      Unrestricted Corner Lot on Highway

      14.38-acre corner lot with road frontage in Washington, NC.
      80 Mill Rd, Washington, NC 27889
      View Details
    • $200,000
      0.08 Acres

      Residential Land Near Pamlico River

      Build-ready homesite near Pamlico River and Historic District.
      402 Front St, Washington, NC 27889
      View Details

    Similar Nearby for Lease

    • $850 /Mo
      791 SF

      Downtown Retail Space Available

      Retail space for rent in downtown Washington, North Carolina.
      231 Mid Town Ln, Washington, NC 27889
      View Details
    • $3,900 /Mo
      5,000 SF

      Versatile Commercial Space in Washington

      5,000 sq ft commercial building suitable for various businesses.
      505 Hackney Ave, Washington, NC 27889
      View Details
    • $995 /Mo
      939 SF

      Downtown Washington Office Suite Rental

      Historic building office suite for rent in downtown Washington.
      229 Mid Town Ln, Washington, NC 27889
      View Details
    • $3,700 /Mo
      4,180 SF

      Versatile Commercial Space in Washington

      4,180 sq ft commercial space with flexible use options.
      630 E 10Th St, Washington, NC 27889
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    731 Main St
    Washington, NC 27889-5120
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.