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    Property profile & analytics

    823 Dixie Dr Asheboro, NC 27203-6613

    • Retail space
    • 4,768 SF
    • 0.38 lot acres
    OFF-MARKET
    Last Sale
    Jan 27, 2020
    Value Estimations
    $215,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-1318727
    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

    • Treasure World / Pawn Shop / Gun Shop
    • Mr. Kofta Mediterranean Food Truck / Mediterranean Restaurant / Halal Restaurant
    • Mr. Kofta - Mediterranean Food / Mediterranean Restaurant / Halal Restaurant

    Property Details for 823 Dixie Dr

    Year built
    1956
    Construction
    WOOD
    Lot size
    0.38 lot acres
    Property size
    4,768 SF
    Zone code
    B2
    Property type
    Retail space
    APN
    7760175487
    APU
    7760175487

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $215,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Asheboro
    County
    Randolph
    State
    North Carolina
    Longitude
    -79.8027
    Latitude
    35.6914
    CBSA code
    24660
    CBSA name
    GREENSBORO-HIGH POINT, 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
    2023
    $8,031
    $377,060
    $228,940
    $606,000
    -
    $377,060
    $228,940
    $606,000

    Comparable in this City

    • Value Estimation
      $215,000
      0.10 Acres

      Fayetteville St

      RETAIL STORES (PERSONAL SERVICES) • 0.10 Acres
      Fayetteville St, Asheboro, NC 27203
      View Details
    • Value Estimation
      $230,000
      784 SF

      224 Fayetteville St

      RETAIL STORES (PERSONAL SERVICES) • 784 SF
      224 Fayetteville St, Asheboro, NC 27203-5725
      View Details
    • Value Estimation
      $225,000
      2,223 SF

      801 Martin Luther King Jr Dr

      RETAIL STORES (PERSONAL SERVICES) • 2,223 SF
      801 Martin Luther King Jr Dr, Asheboro, NC 27203-4990
      View Details
    • Value Estimation
      $145,000
      9,360 SF

      1530 Dixie Dr

      RETAIL STORES (PERSONAL SERVICES) • 9,360 SF
      1530 Dixie Dr, Asheboro, NC 27203-8803
      View Details
    • Value Estimation
      $195,000
      8,296 SF

      810 Dixie Dr

      RETAIL STORES (PERSONAL SERVICES) • 8,296 SF
      810 Dixie Dr, Asheboro, NC 27203-6614
      View Details
    • Value Estimation
      $215,000
      1,750 SF

      322 Salisbury St

      RETAIL STORES (PERSONAL SERVICES) • 1,750 SF
      322 Salisbury St, Asheboro, NC 27203-5442
      View Details

    Similar Nearby for Sale

    • New
      $1,500,000

      Retail Location on East Dixie

      Retail building with high traffic and multi-tenant potential.
      1530 E Dixie Dr, Asheboro, NC 27203
      View Details
    • $1,699,000
      17,000 SF

      Asheboro Investment Property For Sale

      17,000 SF building with additional office complex, fully leased.
      2013 S Fayetteville St, Asheboro, NC 27203
      View Details
    • $3,042,100
      10,881 SF

      Asheboro CVS Pharmacy Investment

      High-yield CVS Net Lease, NC
      440 Dixie Dr, Asheboro, NC 27203
      View Details
    • $515,000
      2.29 Acres

      Asheboro Retail Property - High Traffic

      Prime Retail Location, High Visibility, 2.29 Acres
      703 Fayetteville St, Asheboro, NC 27203
      View Details
    • $855,000

      Highway 64 Commercial Opportunity

      0.45 acres on high-traffic corridor, suitable for various businesses.
      557 E Dixie Dr, Asheboro, NC 27203
      View Details
    • $379,900
      1.30 Acres

      Industrial Building with Extra Lot

      Versatile building with extra lot in Asheboro city limits.
      1449 Old Liberty Rd, Asheboro, NC 27203
      View Details

    Similar Nearby for Lease

    • $12 SF/Yr
      3,591 SF

      Office/Retail Space For Rent

      3,591 SF office/retail space with abundant parking.
      1064 E Dixie Dr, Asheboro, NC 27203
      View Details
    • $12 SF/Yr
      48,971 SF

      Asheboro Plaza: Prime Retail Space

      Retail, office, medical space available.
      338-372 Fayetteville St, Asheboro, NC 27203
      View Details
    • $1.00 SF/Yr
      4,022 SF

      Restaurant Space For Rent

      Restaurant space available for lease in Asheboro, North Carolina.
      1106 E Dixie Dr, Asheboro, NC 27203
      View Details
    • Contact for pricing

      Retail Building at Busy Intersection

      Retail building with showroom, sales, and warehouse space for rent.
      603 N Fayetteville St, Asheboro, NC 27203
      View Details
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    Asheboro, NC 27203-6613
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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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