Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    Commerce St, NC

    • Office Properties & Spaces
    • 1,102 SF
    • 0.03 lot acres
    OFF-MARKET
    Value Estimations
    $205,000
    Show details
    Cap Rate Potential
    5.9%
    Office Properties & Spaces
    Location Intelligence
    Property ID
    US53-3581328
    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

    • Office Properties & Spaces

    Property Details

    Year built
    1985
    Lot size
    0.03 lot acres
    Property size
    1,102 SF
    Zone code
    OR
    Property type
    Office Properties & Spaces
    APN
    42958
    APU
    42958

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $215,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $210,000
      6.5%
      $195,000
      7%
      $180,000

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $135,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Commerce St
    County
    Pitt
    State
    North Carolina
    Longitude
    -77.3773
    Latitude
    35.5893
    CBSA code
    24780
    CBSA name
    GREENVILLE, 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
    $986
    $15,979
    $68,071
    $84,050
    -
    $15,979
    $68,071
    $84,050

    Comparable in this City

    • Value Estimation
      $1,060,000
      18,352 SF

      Sr, NC

      OFFICE (GENERAL) • 18,352 SF
      1946, Sr, NC
      View Details
    • Value Estimation
      $165,000
      748 SF

      B

      CONDOMINIUM OFFICES • 748 SF
      B, Evans St, NC
      View Details
    • Value Estimation
      $180,000
      896 SF

      Bladenboro Airport Rd, NC

      OFFICE (GENERAL) • 896 SF
      Bladenboro Airport Rd, NC
      View Details
    • Value Estimation
      $325,000
      14,283 SF

      Moncure Pittsboro Rd, NC

      OFFICE (GENERAL) • 14,283 SF
      Moncure Pittsboro Rd, NC
      View Details
    • Value Estimation
      $235,000
      18.84 Acres

      Highway

      OFFICE (GENERAL) • 18.84 Acres
      Highway, 73, NC
      View Details
    • Value Estimation
      $3,680,000
      399 SF

      Legacy Fls Dr

      OFFICE (GENERAL) • 399 SF
      Legacy Fls Dr, S, NC
      View Details

    Similar Nearby for Sale

    • $320,000
      2,050 SF

      Move-in Ready Office Condo

      Well-maintained office condo with flexible layout and convenient location.
      2990 Bethesda Pl, Winston-Salem, NC
      View Details
    • $2,500,000
      4,800 SF

      Dilworth Office Building For Sale

      Office building in Dilworth, near South Boulevard and LYNX.
      315-329 Renssalaer Ave, Charlotte, NC
      View Details
    • Contact for pricing
      4,318 SF

      New Medical/Office Condos Available

      New medical/office condos for sale or lease in Concord, NC.
      290 Robins Way, Concord, NC
      View Details
    • $4,800,000
      20,686 SF

      St. James Biotech Ready Facility

      Bio-tech ready facility in St. James, Brunswick County, NC.
      4332 Southport-Supply Rd, Southport, NC
      View Details
    • $1,999,000
      2,704 SF

      Freestanding Building Near Wrightsville Beach

      2,704 SF building with high visibility near Wrightsville Beach.
      2026 Eastwood Rd, Wrightsville Beach, NC
      View Details
    • $2,200,000
      5,000 SF

      New Shell Building in Concord

      5,000 +/- SF shell building suitable for various uses.
      3395 Jacobs Xing Blvd, Concord, NC
      View Details

    Similar Nearby for Lease

    • $13 SF/Yr
      14,322 SF

      Greensboro Office/HQ Opportunity For Rent

      Two-story office building with training rooms available for rent.
      3107 S Elm-Eugene St, Greensboro, NC
      View Details
    • $24 SF/Yr
      1,951 SF

      Class A Office Space Available

      Class A office building with on-site amenities and prime location.
      370 Knollwood St, Winston-Salem, NC
      View Details
    • Contact for pricing
      73,828 SF

      Office Space Near Grandover Resort

      Office building near I-85 and Grandover mixed-use development.
      4620 Stone Vlg Rd, Greensboro, NC
      View Details
    • $1,350 /Mo
      975 SF

      Well-Maintained Office Space Available

      Office space near retail corridor with natural light for rent.
      1540 Westbrook Plz Dr, Winston-Salem, NC
      View Details
    • $23 SF/Yr
      2,381 SF

      Office Space in Charlotte, NC

      Office space available for lease in Charlotte, North Carolina.
      207 Regency Executive Park Dr, Charlotte, NC
      View Details
    • $625 /Mo
      302 SF

      Winston-Salem Office Space Available

      Office space for rent in a prime location.
      1348 Westgate Ctr Dr, Winston-Salem, NC
      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.
    Commerce St, NC
    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

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.