Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    824 Roanoke Ave Elizabeth City, NC 27909
    Back to Search
    Property profile & analytics

    824 Roanoke Ave Elizabeth City, NC 27909

    View on Map
    • Commercial real estate
    • 3.03 lot acres
    Off-Market
    Property ID
    US53-4115755
    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

    • Commercial real estate

    Property Details for 824 Roanoke Ave

    Lot size
    3.03 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional 3.032-acre commercial land parcel, located at 824 Roanoke Avenue in Elizabeth City, North Carolina, presents a remarkable investment opportunity. Situated in Pasquotank County, zip code 27909, this property boasts a prime location adjacent to the Elizabeth Manor Housing project, ensuring high visibility and accessibility. The expansive lot, encompassing approximately 1,321,116 square feet, is comprised of three contiguous parcels, offering flexibility for various development scenarios. The property is zoned R-6, providing significant development potential. Under this zoning, the land could accommodate up to 21 single-family detached units (7 units per acre), 27 two-family dwellings (9 units per acre), or between 30 and 36 multifamily units (10-12 units per acre). All essential utilities, including city sewer, are readily available, simplifying the development process and minimizing upfront infrastructure costs. This strategic location and flexible zoning regulations make this property an ideal choice for developers seeking a high-return investment in a thriving community. The asking price for this exceptional opportunity is $109,000.

    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
    Elizabeth City
    County
    Pasquotank
    State
    North Carolina
    Longitude
    -76.2317
    Latitude
    36.2864999

    Comparable in this City

    • Contact for pricing

      Prime Land Parcel For Sale

      3.94 AC land parcel with extensive road frontage.
      1903 W Church St, Elizabeth City, NC 27909
      View Details
    • $89,900
      67,817.00 Acres

      Elizabeth City Commercial Land For Sale

      Commercial land with high visibility and traffic volume available for sale.
      104 Northside Park Dr, Elizabeth City, NC 27909
      View Details
    • Contact for pricing

      Riverfront Property with Redevelopment Potential

      68-acre riverfront property with 338,000 SF hospital near Downtown.
      1144 N Road St, Elizabeth City, NC 27909
      View Details
    • $460,000

      Commercial Lot on Hughes Boulevard

      1.234 AC commercial lot with high traffic frontage.
      530 S Hughes Blvd, Elizabeth City, NC 27909
      View Details
    • $60,000
      0.90 Acres

      Residential Lot in Quiet Community

      Cleared lot in water-access community, ready for building.
      1302 Little River Dr, Elizabeth City, NC 27909
      View Details
    • $125,000
      1.58 Acres

      Waterfront Land in Elizabeth City

      Waterfront lot with western views of Little River.
      215 Dances Bay Rd, Elizabeth City, NC 27909
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Prime Land Parcel For Sale

      3.94 AC land parcel with extensive road frontage.
      1903 W Church St, Elizabeth City, NC 27909
      View Details
    • $89,900
      67,817.00 Acres

      Elizabeth City Commercial Land For Sale

      Commercial land with high visibility and traffic volume available for sale.
      104 Northside Park Dr, Elizabeth City, NC 27909
      View Details
    • Contact for pricing

      Riverfront Property with Redevelopment Potential

      68-acre riverfront property with 338,000 SF hospital near Downtown.
      1144 N Road St, Elizabeth City, NC 27909
      View Details
    • $460,000

      Commercial Lot on Hughes Boulevard

      1.234 AC commercial lot with high traffic frontage.
      530 S Hughes Blvd, Elizabeth City, NC 27909
      View Details
    • $60,000
      0.90 Acres

      Residential Lot in Quiet Community

      Cleared lot in water-access community, ready for building.
      1302 Little River Dr, Elizabeth City, NC 27909
      View Details
    • $125,000
      1.58 Acres

      Waterfront Land in Elizabeth City

      Waterfront lot with western views of Little River.
      215 Dances Bay Rd, Elizabeth City, NC 27909
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Space in Elizabeth City

      Dominant soft goods power center near Walmart Supercenter.
      3850 Conlon Way, Elizabeth City, NC 27909
      View Details
    • Contact for pricing

      Retail Space Near Southgate Mall

      Retail space adjacent to Big Lots and Southgate Mall.
      830 Halstead Boulevard Ext, Elizabeth City, NC 27909
      View Details
    • $3,500 /Mo
      520 SF

      Remodeled Corner Building For Lease

      Newly remodeled 3,560 SF building on corner lot available for lease.
      925 Halstead Boulevard Ext, Elizabeth City, NC 27909
      View Details
    • $2,200 /Mo
      1,400 SF

      Retail Space in Elizabeth City

      1,400 SF retail space for lease in Elizabeth City.
      1853 W Ehringhaus St, Elizabeth City, NC 27909
      View Details
    • $7,260 /Mo
      7,260 SF

      Versatile Two-Story Commercial Building

      7,260 SF commercial building suitable for medical, retail, or service-based
      1141 N Road St, Elizabeth City, NC 27909
      View Details
    • $3,600 /Mo
      3,375 SF

      Elizabeth City Medical Office Space

      3,375 SF medical office space for lease.
      1134 N Road St, Elizabeth City, NC 27909
      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.
    824 Roanoke Ave
    Elizabeth City, NC 27909
    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

    Thank You for Inquiry
    824 Roanoke Ave, Elizabeth City, NC, 27909
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!