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    814 15Th St Washington, NC 27889
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    Property profile & analytics

    814 15Th St, Washington, NC 27889

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    • Strip malls
    • 8.90 lot acres
    For Sale
    $1,350,000
    View Listing →
    Prime Commercial Land Opportunity For Sale
    $1,350,000
    3.50 Acres

    Prime Commercial Land Opportunity

    3.5+/- acre commercial land with high traffic and accessibility.

    814 W 15th Street, Washington, NC 27889
    View Listing
    Property ID
    US53-3786091
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Strip malls

    Property Details for 814 15Th St

    Year built
    1971
    Lot size
    8.90 lot acres
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    5676-84-2679
    APU
    5676842679

    Description

    This exceptional 3.5-acre commercial property, located at 814 W 15TH Street in Washington, North Carolina, presents a unique investment opportunity. The expansive lot offers significant potential for a variety of commercial developments, catering to the needs of a growing community. Its strategic location within Washington provides excellent visibility and accessibility, making it an ideal site for businesses seeking a prominent presence. The property's size allows for ample space for construction, parking, and landscaping, accommodating a wide range of project scales and designs. The absence of existing structures provides a blank canvas for a custom-built development, tailored to specific business requirements. This presents a rare chance to create a landmark commercial property in a thriving area. The asking price of $1,350,000 reflects the significant potential and value offered by this substantial land parcel. Serious inquiries are encouraged to explore the possibilities and secure this prime commercial real estate asset. The property is zoned for commercial use, allowing for a diverse range of development options. Prospective buyers are advised to conduct their own due diligence regarding zoning regulations and development permits. This is a truly exceptional opportunity to acquire a large, well-located commercial property in a rapidly developing area. Don't miss out on this chance to shape the future of Washington's commercial landscape.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Washington
    County
    Beaufort
    State
    North Carolina
    Longitude
    -77.0554
    Latitude
    35.5607
    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
    $17,986
    $969,210
    $460,956
    $1,430,166
    -
    $969,210
    $460,956
    $1,430,166

    Comparable in this City

    • Value Estimation
      $1,015,000
      18.58 Acres

      719 15th St

      SHOPPING CENTER, STRIP CENTER
      719 15th St, Washington, NC 27889-3569
      View Details
    • Value Estimation by Request
      0.68 Acres

      140 15th St, Unit 1

      SHOPPING CENTER, STRIP CENTER
      140 15th St, Washington, NC 27889-3646
      View Details
    • Value Estimation by Request
      6,389 SF

      609 John Small Ave

      SHOPPING CENTER, STRIP CENTER
      609 John Small Ave, Washington, NC 27889-4546
      View Details
    • Value Estimation by Request
      17,848 SF

      2289 5th St

      SHOPPING CENTER, STRIP CENTER
      2289 5th St, Washington, NC 27889-9545
      View Details
    • Value Estimation
      $1,120,000
      54,422 SF

      1304 John Small Ave

      SHOPPING CENTER, STRIP CENTER
      1304 John Small Ave, Washington, NC 27889-3843
      View Details
    • Value Estimation by Request
      8,276 SF

      2001 15th St

      SHOPPING CENTER, STRIP CENTER
      2001 15th St, Washington, NC 27889-3591
      View Details

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      Prime Commercial Land Opportunity

      3.5+/- acre commercial land with high traffic and accessibility.
      814 W 15Th St, Washington, NC 27889
      View Details

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    View Listing
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    Washington, NC 27889
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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.

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