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    109 S Seventh Avenue Kure Beach, NC 28449

    View on Map
    Pending
    $450,000

    MULTI_FAMILY - Kure Beach, NC

    Property size:
    1,080 SF
    Lot size:
    0.11 Acres
    Added:
    Apr 8, 2025
    Days on Market:
    359
    Last Refresh:
    Apr 1 at 12:06 pm

    Property Features for 109 S Seventh Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    RA-2A-RA-2A
    Bedrooms
    2
    Bathrooms
    2
    Rooms
    Bedroom 2, Bathroom 2, Bathroom 1, Bedroom 1
    Parking features
    Paved or Surfaced
    Interior features
    Master Downstairs
    Standard status
    Pending
    APN
    R09213-019-010-000
    Size
    1,080 SF
    Lot size
    0.11 Acres

    Taxes and HOA fees

    TaxYear
    2025
    TaxDescription
    64 14 KURE BCH

    Utilities

    Heating system
    Wall Furnace, Electric (Heating)
    Cooling system
    Wall/Window Unit(s), Window Unit(s)

    Building Details

    Year built
    1959
    Floors in Building
    1
    Number of units
    2
    Building materials
    Block
    Roof type
    Shingle

    We can help!

    Listing Contact
    Tammy M Ebersole
    Tammy M Ebersole

    Listing agent Tammy M Ebersole License #224909

    Listing office Coldwell Banker Sea Coast Advantage-CB 1001 N Lake Park Blvd, Wilmington, NC

    Listing date Apr 8, 2025

    MLS# 100499683 Listing URL

    Copyright © 2026 Hive MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Kure Beach Multifamily Opportunity

    This property presents a unique opportunity in Kure Beach, North Carolina. Constructed with durable cinder block, the building is currently configured as a two-unit structure. Each unit features a 1-bedroom, 1-bath layout. One side is a blank canvas, awaiting finishing touches and design vision, with no fixtures installed. The other side is functional but requires rehabilitation work. Located across from the park and disc golf course, the property offers convenient access to outdoor recreation. The beach is nearby. This property is suitable for investors or homeowners looking to customize a beach getaway in Kure Beach. The property size is 1080 square feet and the lot size is 0.11 acres. The zoning is RA-2A-RA-2A. Seller will need to lease back for at least 30 days.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm Bar & Pub

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Kure Beach
    County
    New Hanover
    State
    North Carolina
    Longitude
    -77.910701
    Latitude
    33.9987181

    Nearby Similar for Sale

    • $549,000
      634 SF

      Kure Beach Seaside Hideaway

      Two cottages near the ocean with redevelopment potential.
      218 N Third Avenue N, Kure Beach, NC 28449
      View Details
    • $1,100,000
      2,273 SF

      Kure Beach Boho-Style Triplex

      Coastal triplex near Kure Beach with strong rental income.
      135 N Third Avenue N, Kure Beach, NC 28449
      View Details
    • $450,000

      Kure Beach Multifamily Opportunity

      Two-unit property near the beach and park.
      109 S Seventh Avenue S, Kure Beach, NC 28449
      View Details
    • $475,999
      1,116 SF

      Luxurious Condo with Ocean Views

      Rare, renovated condo in Kure Beach with stunning ocean views.
      1604 Sand Dollar Court, Kure Beach, NC 28449,
      View Details

    FAQs

    What type of property is this?
    Duplex - Two-unit property near the beach and park.
    Where is this duplex located?
    The property is located at 109 S Seventh Avenue Kure Beach, NC.
    What is the asking price?
    The asking price for this property is $450,000.
    What are key features of this property?
    This property features: Highly desirable Kure Beach location, directly across from a park and disc golf course.; Durable cinder block construction.; Two‑unit building with potential for rental income or multi‑generational living.
    (910) 619-2050
    We can help!
    Listing Contact
    Tammy M Ebersole
    Tammy M Ebersole
    Real Estate License ID: 224909
    Learn More
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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
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