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    Property profile & analytics

    8941 Main St Castalia, NC 27816-9528

    • Grocery and convenience stores
    • 2,400 SF
    • 1.37 lot acres
    OFF-MARKET
    Last Sale
    Mar 07, 2023
    $991,500
    Value Estimations
    $975,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-2775784
    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

    • bp / Gas Station

    Property Details for 8941 Main St

    Year built
    1979
    Lot size
    1.37 lot acres
    Property size
    2,400 SF
    Property type
    Grocery and convenience stores
    APN
    288400-08-7042I
    APU
    288400087042I

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,064,000
      Market price range: $936k - $2.45M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $880,000
      AUTO REPAIR, GARAGE
      $715,000
      OFFICE BUILDING
      $655,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Castalia
    County
    Nash
    State
    North Carolina
    Longitude
    -78.0497
    Latitude
    36.0766
    CBSA code
    40580
    CBSA name
    ROCKY MOUNT, 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
    $2,554
    $49,320
    $145,550
    $194,870
    -
    $49,320
    $145,550
    $194,870

    Comparable in this City

    • Value Estimation by Request
      1,440 SF

      10694 Nc Hwy 58th N

      RETAIL STORES (PERSONAL SERVICES) • 1,440 SF
      10694 Nc Hwy 58th N, Castalia, NC 27816-9563
      View Details
    • Value Estimation by Request
      10,504 SF

      8885 Nc Hwy 58th N

      RETAIL STORES (PERSONAL SERVICES) • 10,504 SF
      8885 Nc Hwy 58th N, Castalia, NC 27816-9068
      View Details
    • Value Estimation by Request
      1,168 SF

      2762 White Level Rd, Unit 2770

      RETAIL STORES (PERSONAL SERVICES) • 1,168 SF
      2762 White Level Rd, Castalia, NC 27816-9148
      View Details
    • Value Estimation
      $580,000
      6,000 SF

      9475 Main St

      RETAIL STORES (PERSONAL SERVICES) • 6,000 SF
      9475 Main St, Castalia, NC 27816
      View Details
    • Value Estimation by Request
      768 SF

      2619 White Level Rd

      RETAIL STORES (PERSONAL SERVICES) • 768 SF
      2619 White Level Rd, Castalia, NC 27816
      View Details
    • Value Estimation
      $1,340,000
      2,880 SF

      11065 Lancaster Store Rd

      RETAIL STORES (PERSONAL SERVICES) • 2,880 SF
      11065 Lancaster Store Rd, Castalia, NC 27816-9303
      View Details

    Similar Nearby for Sale

    • New
      $140,000
      Pending

      Wooded Lots in Castalia, NC

      4+ acres of wooded land, ideal for homesteading or hobby farm.
      7375 Simmons Rd, Castalia, NC 27816
      View Details
    • $74,900
      2.08 Acres

      Land for Residential Development

      Unimproved land suitable for building a home in Castalia, NC.
      Castalia NC 27816 Nc 56 Hwy, Castalia, NC 27816
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    • $360,000
      23.00 Acres

      23 Acres of Versatile Land

      Land with open fields, woods, and a small creek.
      8501 Edwards Rd, Castalia, NC 27816
      View Details
    • $79,000
      1.04 Acres

      Land with Highway Frontage

      1.04 acre lot with potential for redevelopment or renovation.
      691 Nc 58 Hwy, Castalia, NC 27816
      View Details
    • $675,000
      69.95 Acres

      Nash County Land For Sale

      69.95 acres of land in Nash County, North Carolina.
      6847 Race Track Rd, Castalia, NC 27816
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    • Contact for pricing
      1,548 SF

      20-Acre Functioning Farm with Home

      Farm-ready property with modular home, livestock, and agricultural setup.
      8011 Simmons Rd, Castalia, NC 27816
      View Details
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    8941 Main St
    Castalia, NC 27816-9528
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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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