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    For Sale (13)

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    Kill Devil Hills Multifamily Complex
    $2,350,000
    53,650.00 Acres

    Kill Devil Hills Multifamily Complex

    Eight-unit condo complex with ocean views in Kill Devil Hills.

    1711 Bobby Lee Trl, Kill Devil Hills, NC 27948
    View details
    Historic Inn with Oceanfront Opportunity
    $11,950,000
    264,357.00 Acres

    Historic Inn with Oceanfront Opportunity

    Iconic Outer Banks inn with oceanfront development potential.

    6715 S Croatan Hwy, Nags Head, NC 27959
    View details
    Commercial Land on Caratoke Highway
    $459,500

    Commercial Land on Caratoke Highway

    Acreage in Poplar Branch, NC, ideal for commercial development.

    5720 Caratoke Hwy, Poplar Branch, NC 27965
    View details
    Wanchese Waterfront Commercial Package
    $3,103,000
    8,093,448.00 Acres

    Wanchese Waterfront Commercial Package

    Waterfront commercial package with deep water dockage and restaurant space.

    4683 Mill Landing Rd, Wanchese, NC 27981
    View details
    Commercial Land Near Caratoke Highway
    $479,500
    19.00 Acres

    Commercial Land Near Caratoke Highway

    19 acres of commercial land in Poplar Branch, NC.

    5720 Caratoke Hwy, Poplar Branch, NC 27965
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    Historic Inn with Oceanfront Opportunity
    $11,950,000
    6.07 Acres

    Historic Inn with Oceanfront Opportunity

    Iconic Outer Banks inn with oceanfront development potential.

    6715 S Croatan Hwy, Nags Head, NC 27959
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    Waterfront Acreage in Powells Point
    $1,300,000
    9,831,453.00 Acres

    Waterfront Acreage in Powells Point

    225+ acres of waterfront land with hunting and recreation potential.

    West Westside Ln, Powells Point, NC 27966
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    Waterfront Land with Hunting Potential
    $1,300,000
    225.70 Acres

    Waterfront Land with Hunting Potential

    225+ acre waterfront property perfect for recreation and hunting.

    W Side Ln, Powells Point, NC 27966
    View details
    Engelhard Commercial Property - Huge Potential
    $499,900
    1.78 Acres

    Engelhard Commercial Property - Huge Potential

    Historic building, 12,400+ sq ft, 1.78 acres

    35050 35050, Engelhard, NC 27824
    View details
    Columbia Restaurant & Upper Level Space
    $425,000

    Columbia Restaurant & Upper Level Space

    Turnkey restaurant, 9056 sq ft, huge potential

    302 Main St, Columbia, NC 27925
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    Columbia Commercial Building Opportunity
    $425,000
    4,524 SF

    Columbia Commercial Building Opportunity

    Prime 0.3-acre lot, 4,524 sq ft building.

    302 Main St, Columbia, NC 27925
    View details
    Engelhard Commercial Building Opportunity
    $499,900
    12,479 SF

    Engelhard Commercial Building Opportunity

    Highway 264, 12,479 sq ft, $499,900

    35050 Us Hwy 264 Hwy, Engelhard, NC 27824
    View details
    Turn Key Restaurant Opportunity
    $425,000
    4,524 SF

    Turn Key Restaurant Opportunity

    Restaurant with potential for residential or office space upstairs.

    302 Main St, Columbia, NC 27925
    View details

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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.

    More about this property
    Harrell & Associates
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