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    For Sale (13)

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    Semi-Oceanfront Buildable Lot in Corolla
    $249,000

    Semi-Oceanfront Buildable Lot in Corolla

    Buildable semi-oceanfront lot with ocean views in Corolla's Carova Beach.

    2050 Sandfiddler Rd, Corolla, NC 27927
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    Swan Beach Homesite Opportunity
    $79,000

    Swan Beach Homesite Opportunity

    Prime 4th-row lot in Swan Beach's 4x4 area.

    1686 Ocean Pearl Rd, Corolla, NC 27927
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    Corolla Lot with Ocean Views
    $159,000
    14,810.00 Acres

    Corolla Lot with Ocean Views

    Residential lot in Swan Beach with ocean views and horse sightings.

    1629 Sandpiper Rd, Corolla, NC 27927
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    Oceanfront Lot in Carova, NC
    $568,000
    35,000.00 Acres

    Oceanfront Lot in Carova, NC

    Residential lot in Carova's 4-wheel drive area with ocean views.

    2301 Sandfiddler Rd, Corolla, NC 27927
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    Prime Commercial Space on NC-12
    $399,000
    2,500 SF

    Prime Commercial Space on NC-12

    High-visibility commercial space in Buxton, NC, ideal for various ventures.

    47357 Nc 12 Hwy, Buxton, NC 27920
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    Sound Front Lot for Sale
    $135,000
    54,810.00 Acres

    Sound Front Lot for Sale

    1.26 acre sound front lot in quiet community.

    330 Country Est Rd, Columbia, NC 27925
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    Automotive Property on Caratoke Highway
    $975,000
    4,240 SF

    Automotive Property on Caratoke Highway

    Versatile automotive property with high visibility and included equipment.

    5574 Caratoke Hwy, Poplar Branch, NC 27965
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    Oceanfront Lot in Kill Devil Hills
    $1,750,000
    23,000.00 Acres

    Oceanfront Lot in Kill Devil Hills

    Prime oceanfront property, ideal for a dream home or vacation retreat.

    1315 N Virginia Dare Trl, Kill Devil Hills, NC 27948
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    Carova Beach Residential Lot
    $55,000

    Carova Beach Residential Lot

    Residential lot in Carova Beach with existing septic and well.

    2385 Ocean Pearl Rd, Corolla, NC 27927
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    Soundfront Acres in Corolla 4x4
    $435,000
    439,215.00 Acres

    Soundfront Acres in Corolla 4x4

    10.08 unspoiled acres with panoramic views and abundant wildlife.

    Beasley Ln, Corolla, NC 27927
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    Ready-to-Build Lot in Corolla
    $85,000

    Ready-to-Build Lot in Corolla

    Tranquil oceanside lot ready for construction in Corolla, NC.

    2338 Ocean Pearl Rd, Corolla, NC 27927
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    Vacant Lot in Gated Community
    $425,000
    0.45 Acres

    Vacant Lot in Gated Community

    Spacious .45-acre lot in Martins Point, Kitty Hawk, NC.

    3005 Martins Point Rd, Kitty Hawk, NC 27949
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    Corolla Homesite in 4x4 Area
    $70,000
    14,810.00 Acres

    Corolla Homesite in 4x4 Area

    Exceptional homesite in Corolla's 4x4 beach community.

    2005 Ridge Rd, Corolla, NC 27927
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    Keller Williams Realty Outer Banks
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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
    Keller Williams Realty Outer Banks
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