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    9219 Hart Dr, Unit 124 Oriental, NC 28571
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    9219 Hart Dr, Unit 124 Oriental, NC 28571

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    • Commercial real estate
    • 0.80 lot acres
    For Sale
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    LAND - Oriental, NC For Sale
    Contact for pricing
    0.80 Acres

    LAND - Oriental, NC

    Residential land & home lots · 0.80 Acres

    9219 Hart Drive lot: 124, Oriental, NC 28571
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    Property ID
    US53-5078151
    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 9219 Hart Dr

    Lot size
    0.80 lot acres
    Property type
    Commercial real estate
    APN
    I081-6-124

    Description

    This exceptional 1,250 square foot retail space is ideally situated in the vibrant Berwyn Depot District, directly adjacent to the METRA train station. Boasting high visibility and a prominent 25-foot street frontage, this unit is perfect for a variety of businesses. Located within a mixed-use building, the space offers individually controlled HVAC, ensuring optimal climate control. The monthly gross lease rate is $1850. The property is zoned for commercial use, allowing for a wide range of potential tenants. This presents a unique opportunity to establish a thriving business in a high-traffic area with excellent public transportation access. The space is available for occupancy beginning October 1, 2024. This is a single available unit within a larger mixed-use building. The convenient location and attractive lease terms make this an exceptional opportunity for a business seeking a high-visibility location in a bustling commercial district. Don't miss out on this chance to secure a prime retail space in the heart of Berwyn.

    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
    Oriental
    County
    Pamlico
    State
    North Carolina
    Longitude
    -76.711714
    Latitude
    35.029589

    Comparable in this City

    • $4,990,000
      2.06 Acres

      Riverfront Redevelopment Opportunity

      Historic waterfront village, mixed-use potential.
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    • $4,599,000
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      Prime Waterfront Multi-Use Development Opportunity

      Two-acre waterfront property with deepwater dockage in Oriental, North Carolina.
      301 Hodges St, Oriental, NC 28571
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    • $439,500
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      Oriental Duplex: Investor Opportunity

      Full duplex in Oriental, NC, with income potential.
      609 Ragan Rd, Oriental, NC 28571
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    • $200,000
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      Creekfront Land in Harbor Village

      Creekfront homesite in River Dunes' Chapel Square neighborhood.
      71 Mill Creek Ln, Oriental, NC 28571
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      Pending

      Residential Land in Oriental, NC

      Expansive lot in Dawson Creek community, perfect for custom home.
      95 Corrolla Loop Rd, Oriental, NC 28571
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      0.43 Acres

      Neuse River Water-Access Lot

      Corner lot in Windward Shores with Neuse River access.
      5300 Bogue Dr, Oriental, NC 28571
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    Similar Nearby for Sale

    • $4,990,000
      2.06 Acres

      Riverfront Redevelopment Opportunity

      Historic waterfront village, mixed-use potential.
      301 Hodges St, Oriental, NC 28571
      View Details
    • $4,599,000
      18,289 SF

      Prime Waterfront Multi-Use Development Opportunity

      Two-acre waterfront property with deepwater dockage in Oriental, North Carolina.
      301 Hodges St, Oriental, NC 28571
      View Details
    • $439,500
      2,000 SF

      Oriental Duplex: Investor Opportunity

      Full duplex in Oriental, NC, with income potential.
      609 Ragan Rd, Oriental, NC 28571
      View Details
    • $200,000
      0.96 Acres

      Creekfront Land in Harbor Village

      Creekfront homesite in River Dunes' Chapel Square neighborhood.
      71 Mill Creek Ln, Oriental, NC 28571
      View Details
    • Contact for pricing
      Pending

      Residential Land in Oriental, NC

      Expansive lot in Dawson Creek community, perfect for custom home.
      95 Corrolla Loop Rd, Oriental, NC 28571
      View Details
    • Contact for pricing
      0.43 Acres

      Neuse River Water-Access Lot

      Corner lot in Windward Shores with Neuse River access.
      5300 Bogue Dr, Oriental, NC 28571
      View Details
    View Listing
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    Oriental, NC 28571
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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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