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    For Sale (11)

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    Southport Land with Water Access
    $75,000
    0.51 Acres

    Southport Land with Water Access

    Half-acre lot in water-access community near Southport and Oak Island.

    5257 Walden Ct SE, Southport, NC 28461
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    Sunset Beach Land Opportunity
    $110,000
    0.28 Acres

    Sunset Beach Land Opportunity

    Residential lot in Sea Walk community near Sunset Beach.

    8959 Tranquility Ln SW, Sunset Beach, NC 28468
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    Sunset Beach Land Opportunity
    $110,000
    0.28 Acres

    Sunset Beach Land Opportunity

    Residential lot near Intracoastal Waterway and Sunset Beach.

    8963 Tranquility Ln SW, Sunset Beach, NC 28468
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    Prime Land in Calabash, NC
    $500,000
    2.51 Acres

    Prime Land in Calabash, NC

    2.5 acres of commercial land for sale in Calabash.

    77 Calabash Rd NW, Calabash, NC 28467
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    Calabash Land Investment Opportunity
    $2,250,000
    20.35 Acres

    Calabash Land Investment Opportunity

    20 acres of commercial land in a rapidly growing area.

    179 Calabash Rd NW, Calabash, NC 28467
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    Residential Land Near Holden Beach
    $45,000
    0.45 Acres

    Residential Land Near Holden Beach

    Coastal homesite in desirable community with resort-style amenities.

    444 Kristen Ln SW, Supply, NC 28462
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    Southport, NC Land For Sale
    $175,000
    0.53 Acres

    Southport, NC Land For Sale

    0.53 acre commercial land available in Southport, North Carolina.

    3406 Scupper Run SE, Southport, NC 28461
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    Ocean View Homesite Opportunity
    $475,000
    0.23 Acres

    Ocean View Homesite Opportunity

    Rare homesite near the beach with potential ocean views.

    2606 E Dolphin Dr, Oak Island, NC 28465
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    3-Acre Wooded Property in Supply
    $160,000
    3.00 Acres

    3-Acre Wooded Property in Supply

    3-acre wooded property with unique features near beaches and amenities.

    1784 Woodard Rd NW, Supply, NC 28462
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    Ocean View Buildable Lot
    $450,000
    0.18 Acres

    Ocean View Buildable Lot

    Rare opportunity to build a custom beach home with ocean views.

    2621 E Pelican Dr, Oak Island, NC 28465
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    Prime Calabash Commercial Land
    $3,200,000
    17.70 Acres

    Prime Calabash Commercial Land

    17.7 Acres Hwy 17 Frontage

    17 Acres Hwy, Calabash, NC 28467
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    Northrop Realty
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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
    Northrop Realty
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