Real Estate Research by Tom Keith & Associates, Inc.
The research reports are available in PDF format.
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Agricultural Properties
Apartment
Commercial
Damage Studies
Industrial
Land Development
Residential
Agricultural Properties Research
Hunting Lease Rates
This report studies the various lease rates and terms for hunting property in southeastern North Carolina
The Southeast NC Stumpage vs Lumber Prices
This chart compares the price of Stumpage, Lumber Price Index, and the Consumer Price Index (CPI) over a period from 1976 to 2017.
Keith Cropland & Woodland Index (2016)
The Cropland and Woodland Index is an average of extracted cropland and woodland prices of farm and woodland sales from 27 Southeastern North Carolina Counties.
Apartment Research
Apartment Expenses Vs. Age
This chart shows the relationship between the age of an apartment and the expenses per square foot
Fayetteville Apartment Index (Updated 2018)
The Fayetteville Apartment index is the average rent on 2 Bedroom apartments less than 20 years old located in Fayetteville.
Sales Price vs EGIM
This chart shows the consistency of the relationship between the Sales Price of an Apartment complex and the Effective Gross Income Multiplier (EGIM)
Statistical Analysis of Apartment Sales
Showing how age of complex affects overall group and the effective gross income multiplier.
Sales Price vs NOI Per Unit Basis
This chart shows the consistency of the linear relationship between the Sales Price and an Apartment Complex and the Net Operating Income (NOI)
Commercial Research
Cell Tower Market Rent Study
This Cell Tower study is an analysis of rental rates and terms for cell tower leases in Cumberland County
Cap Rate Vs Term of Lease
Cap rate vs term of lease
Shopping Center Outparcels
Absorption of outparcels
Office & Retail Rental Index
The Office and Rental Index is an analysis of Rental Rates of Office and Retail space in Fayetteville. (Updated through to 2017)
Fayetteville CBD Index
The Fayetteville CBD Index tracks real estate activity in the Central Business District of Fayetteville.
Lease Rates are a Function of the Length of Lease
This study quantifies how the length of a lease affects its cost.
Commercial Site Utility vs. Value
This chart compares the size of commercial lots to their price per square foot.
Sales Price Vs. NOI for Shopping Centers
This chart shows the relationship between the Net Operating Income/SF and the Sales Price/SF.
Correlation Between Rental Rate & Traffic Count
A study of the correlation between the traffic count and rental rates for convenience store sites.
Leasing Commissions
An Analysis of Leasing Commissions paid by Landlords.
Damage Studies Research
Condemnation Awards
Appraisers results of condemnation awards
Cell Tower Damage Study
This study illustrates the methodology of quantifying the impact of a cell tower on surrounding properties.
Impact Studies for Special/Conditional Use Permits
Testimony history - Quasi-Judicial Hearings
Quarry Impact Study
This study illustrates how we determine the impact of a quarry on the surrounding properties.
Loss in Value due to Inadequate Parking
A study of loss in value due to inadequate parking.
Industrial Research
Keith Industrial Index (updated 2020)
The Industrial Index is a study determining the average price paid for existing industrial buildings in North Carolina from 1970 to 2019.
Extracted Depreciation
This chart illustrates extracted depreciation from industrial building sales.
Industrial Rental and Listing Rates (2018)
The Industrial Rental and Listing Rates are based on Industrial leases within Cumberland County. The beginning dates of the leases range from 2014-2018. The buildings range from 5,000 square feet to 45,000 square feet.
Industrial Rent per SF
The Industrial Rent per SF shows the trend in Absolute Net Rental Rates for Industrial Space in NC from 1995 to 2002.
Industrial Vacancy Rate for Fayetteville SMA, NC
Market Data and Occupancy Statistics for Distribution and Light Industrial Properties in the Fayetteville, SMA.
Price Size Relationship
A study relating the size of an industrial tract to the price per acre for various sized markets.
Land Development Research
Subdivision Development Costs in the Area
A study of costs related to subdivision development in the Cumberland County area.
Lineal Feet of Street per Lot
This chart is employed to determine the number of lineal feet of street for a lot of a specific size
Number of Lots per Acre vs Lot Size
This chart is employed by our firm to estimate the number of various size lots which can be developed from an acre of land
Price Size Relationship for Residential Tracts
A study relating the size of an residential tract to the price per acre.
Hydric Soil Study
A study relating the influence of hydric soils on land values.
Residential Research
Fayetteville Residential Index
The Residential Index is a study to determine the average per square foot price for dwellings ranging in value from $100,000 to $350,000 as of 2016.
White Lake Water Frontage
The water frontage of lots at White Lake, NC is generally valued on the basis of dollars per front foot. This article shows how the rate per front foot changes as the amount of frontage changes for lots with water frontages between 32 feet and 72 ft.
External Obsolescence Index
The External Obsolescence Index measures the loss in value of dwellings larger than is typical for the neighborhood.
How Quantity Affects Price per Unit
Ratio between the Sale of One Single Family Dwelling vs. Twelve Single Family Dwellings Sold to one Purchaser as a Portfolio
What Preceeded the 2009 Recession
An analysis of absorption rates in the housing market of Cumberland County leading up to the 2009 recession
Determination of Single Family Residential Site Value
This article examines the relationship between lot values and total value of a property.
Residential Site Value
This chart indicates the relationship of the lot value to the total purchase price of the house and lot.
Manufactured Housing in Cumberland County
A study of the Cumberland County manufactured housing market versus the conventional home (stick built) market.