Add Listing
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

    Hwy 221 Marion, NC 28752

    • Warehouses
    • 3,000 SF
    • 2.88 lot acres
    OFF-MARKET
    Last Sale
    Aug 21, 2024
    $150,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-3055680
    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

    • Warehouses

    Property Details for Hwy 221

    Year built
    1987
    Construction
    CONCRETE
    Lot size
    2.88 lot acres
    Property size
    3,000 SF
    Property type
    Warehouses
    APN
    0793-00-55-2563
    APU
    79300552563

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Marion
    County
    Mcdowell
    State
    North Carolina
    Longitude
    -82.0486
    Latitude
    35.733
    CBSA code
    32000
    CBSA name
    MARION, NC MICROPOLITAN 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
    $984
    $30,000
    $108,920
    $138,920
    -
    $30,000
    $108,920
    $138,920

    Comparable in this City

    • Value Estimation by Request

      Airport Rd

      WAREHOUSE, STORAGE
      Airport Rd, Marion, NC 28752
      View Details
    • Value Estimation by Request
      3,000 SF

      3420 Ashworth Rd

      MINI-WAREHOUSE, STORAGE • 3,000 SF
      3420 Ashworth Rd, Marion, NC 28752-8393
      View Details
    • Value Estimation
      $7,930,000
      204,136 SF

      1659 Ct St

      WAREHOUSE, STORAGE • 204,136 SF
      1659 Ct St, Marion, NC 28752-4565
      View Details
    • Value Estimation by Request
      3,000 SF

      Old Linville Rd

      WAREHOUSE, STORAGE • 3,000 SF
      Old Linville Rd, Marion, NC 28752
      View Details
    • Value Estimation by Request
      6.11 Acres

      1584 Us 70th W

      MINI-WAREHOUSE, STORAGE • 6.11 Acres
      1584 Us 70th W, Marion, NC 28752
      View Details
    • Value Estimation by Request
      2,100 SF

      Marion, NC 28752

      WAREHOUSE, STORAGE • 2,100 SF
      Marion, NC 28752
      View Details

    Similar Nearby for Sale

    • $3,495,000

      Versatile Buildings in Marion Business Park

      Multiple buildings on 7 acres, investment opportunity with development potential.
      99999 Mill Rd, Marion, NC 28752
      View Details
    • $625,000
      13,940 SF

      Historic McDowell County Showroom/Workshop

      First car dealership & showroom in McDowell County (Marion).
      244 E Court St, Marion, NC 28752
      View Details
    • $1,950,000
      2.94 Acres

      High-Yield Industrial Investment Opportunity

      Prime Marion, NC industrial property with strong tenant base.
      3100 Nc Hwy 226 Hwy, Marion, NC 28752
      View Details
    • Contact for pricing
      1.46 Acres

      Residential Land in Gated Community

      Residential land in Marion, NC, with mountain views and privacy.
      Black Lark Dr, Marion, NC 28752
      View Details
    • Contact for pricing
      1.81 Acres

      Land in Gated Community

      1.81 acres in Marion, NC, near Blue Ridge Parkway.
      V/L Fox Rdg Trl, Marion, NC 28752
      View Details
    • $899,000
      6.00 Acres

      High-Growth Marion Commercial Land

      6-Acre Commercial Lot Near I-40
      151 Mill Rd, Marion, NC 28752
      View Details

    Similar Nearby for Lease

    • New
      $2,000 /Mo
      21,780 SF

      Marion Commercial Space For Lease

      Warehouse and office space available in Marion near I-40.
      2849 Highway 226 S, Marion, NC 28752
      View Details
    • Contact for pricing

      Marion NC Flex Space Available

      Commercial flex space for lease near Marion City Square.
      500 N Main St, Marion, NC 28752
      View Details
    • Contact for pricing

      Marion City Square Retail Center

      Neighborhood center with retail, restaurant, office, and warehouse spaces.
      500 N Main St, Marion, NC 28752
      View Details
    • Contact for pricing

      Retail Space Available For Lease

      Retail space available for lease at 364 US-70, Marion, NC.
      364 Us-70, Marion, NC 28752
      View Details
    • Contact for pricing

      7-Acre Graded Site For Lease

      7-acre graded, pad-ready site suitable for industrial/distribution business.
      364 Us-70, Marion, NC 28752
      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.
    Hwy 221
    Marion, NC 28752
    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.
    Sign Up Successful!
    You now have access to more from Realmo!