Your AI Navigator in Commercial Real Estate
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
    Property profile & analytics

    Old Tar Rd, NC

    • Medical offices
    • 6,196 SF
    • 1.12 lot acres
    OFF-MARKET
    Value Estimations
    $170,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-1548396
    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

    • Medical offices

    Property Details

    Year built
    1996
    Lot size
    1.12 lot acres
    Property size
    6,196 SF
    Zone code
    OI
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    53004
    APU
    53004

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $170,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Old Tar Rd
    County
    Pitt
    State
    North Carolina
    Longitude
    -77.3852
    Latitude
    35.5322
    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
    $5,258
    $121,575
    $585,560
    $707,135
    -
    $121,575
    $585,560
    $707,135

    Comparable in this City

    • Value Estimation
      $135,000
      7,217 SF

      Wesleyan Dr, NC

      MEDICAL BUILDING • 7,217 SF
      Wesleyan Dr, NC
      View Details
    • Value Estimation
      $6,500,000
      14,400 SF

      Knox Way, NC

      MEDICAL BUILDING • 14,400 SF
      Knox Way, NC
      View Details
    • Value Estimation
      $165,000
      0.08 Acres

      Stantonsburg Rd, NC

      MEDICAL BUILDING • 0.08 Acres
      Stantonsburg Rd, NC
      View Details
    • Value Estimation
      $180,000
      7,700 SF

      E

      MEDICAL BUILDING • 7,700 SF
      E, Tenth St, NC
      View Details
    • Value Estimation
      $170,000
      3,100 SF

      510 Hwy 27

      MEDICAL BUILDING • 3,100 SF
      510 Hwy 27, S, NC
      View Details
    • Value Estimation
      $255,000
      4,020 SF

      B Nc 135

      MEDICAL BUILDING • 4,020 SF
      B Nc 135, Hwy, NC
      View Details

    Similar Nearby for Sale

    • $5,200,000
      12,653 SF

      Healthcare Portfolio Investment Opportunity

      Two medical properties with long-term leases and stable income.
      2541 Josh Ct, Jacksonville, NC
      View Details
    • $975,000
      2,730 SF

      Medical Clinic in High-Traffic Area

      Established medical clinic in a growing medical corridor.
      325 State Rd, Jacksonville, 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
    • $4,899,000

      Medical Space Investment Opportunity

      Medical space for sale with long-term tenant in place.
      4210 Tudor Ln, High Point, NC
      View Details
    • $4,700,000
      35,000 SF

      Winston-Salem Campus with Redevelopment Potential

      35,000+ sqft campus near US 74/Hwy 52 and University Parkway.
      271-289 Mercantile Dr, Winston-Salem, 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

    Similar Nearby for Lease

    • Contact for pricing
      93,000 SF

      Office Space at The Pearl

      93,000 SF office space available June 1, 2025.
      905 Pearl Park Way, Charlotte, NC
      View Details
    • Contact for pricing
      7,130 SF

      Medical/Retail Space in Berewick Center

      Medical and retail spaces available in Berewick Town Center.
      4820 Berewick Town Ctr Dr, Charlotte, NC
      View Details
    • $11 SF/Yr
      7,450 SF

      Former Pharmacy Space For Rent

      7,450 SF former pharmacy in Simpson, NC, near Greenville.
      749 Simpson St, Simpson, NC
      View Details
    • $12 SF/Yr
      10,308 SF

      Downtown St. Pauls Medical Office

      Medical office space in downtown St. Pauls, North Carolina.
      153 E Mclean St, NC
      View Details
    • $22 SF/Yr
      2,783 SF

      Retail/Medical Space on Hanes Mall

      2,783 SF space suitable for retail or medical office.
      1255-1287 Creekshire Way, Winston-Salem, NC
      View Details
    • Contact for pricing
      2,500 SF

      New Construction Retail/Medical Space

      New construction retail or medical space in Harrisburg, North Carolina.
      4650 Nc Hwy, Harrisburg, 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.
    Old Tar Rd, 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.