Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Marsh View Land in Carolina Title is generated by Realmo AI

    116 Virginia Avenue lot 9R, Carolina Beach, NC 28428

    View on Map
    Claim this Listing
    For Sale
    $425,000

    LAND - Carolina Beach, NC

    Lot size:
    0.30 Acres
    Added:
    Mar 17, 2026
    Days on Market:
    57
    Last Refresh:
    May 12 at 2:06 am

    Property Features for 116 Virginia Avenue lot 9R

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    R-1B
    Standard status
    Active
    APN
    R08807-012-001-008
    Lot size
    0.30 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    Lot 9R BLK 209 Northern Sec Carolina Beach
    Tax Annual Amount
    1721

    Utilities

    Utilities
    Water Available
    Water source
    Public

    We can help!

    Listing Contact
    Brad G Phelps

    Listing agent Brad G Phelps License #225568

    Listing office Long & Foster Real Estate 1905 High House Rd., Cary, NC

    Listing date Mar 17, 2026

    MLS# 100560807 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.

    HighLights

    • Unobstructed marsh views
    • Bring your own builder
    • No time restrictions to build
    • Water available
    • Public water source
    • Build on your timeline

    Overview

    This residential lot offers unobstructed marsh views. Located in Carolina Beach, North Carolina, the property allows for building on your own timeline without time restrictions. The lot size is 0.3 acres and is zoned R-1B.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop Accounting Firm

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

    Location Insight

    • Map
    • Local Demand
    City
    Carolina Beach
    County
    New Hanover
    State
    North Carolina
    Longitude
    -77.885205
    Latitude
    34.055566

    Nearby Similar for Sale

    • $942,500
      3,110 SF

      Carolina Beach Multifamily Investment Opportunity

      Income-producing property near the beach with strong rental potential.
      1715 Carolina Beach Avenue N, Carolina Beach, NC 28428
      View Details
    • $3,250,000
      25,720 SF

      Pleasure Island Mini Storage Facility

      Well-established self-storage facility with income potential in Carolina Beach.
      517 Lewis Drive, Carolina Beach, NC 28428
      View Details
    • $495,000

      Carolina Beach Homesite Opportunity

      Spacious lot near the beach to build your dream home.
      809 Monroe Avenue, Carolina Beach, NC 28428
      View Details
    • $797,000
      1,523 SF

      Turnkey Coastal Investment Opportunity

      Renovated duplex near the beach with income potential.
      1119 Carolina Beach Avenue N, Carolina Beach, NC 28428
      View Details
    • $1,800,000
      2,676 SF

      Oceanfront Duplex: Seaside Serenity

      Updated, turnkey oceanfront duplex in desirable location. Strong rental performer.
      905 Carolina Beach Avenue S, Carolina Beach, NC 28428
      View Details
    • $425,000

      Carolina Beach Marsh View Lot

      Residential land with unobstructed marsh views in Carolina Beach.
      116 Virginia, Carolina Beach, NC 28428
      View Details
    • $349,900

      Buildable Homesite Near Carolina Beach

      Cleared homesite near the beach, ready for construction.
      110 Dow Road N lot: 16, Carolina Beach, NC 28428
      View Details
    • $495,000

      Duplex Buildable Lot Near Beach

      Oversized lot zoned for duplex, near Carolina Beach.
      411 Spartanburg Avenue, Carolina Beach, NC 28428
      View Details
    • $1,395,000
      2,068 SF

      Carolina Beach Multifamily Oceanfront Property

      Two furnished units with private beach access and ocean views.
      1112 Carolina Beach Avenue N, Carolina Beach, NC 28428
      View Details
    • $560,000

      Vacant Lot Near Yacht Basin

      Vacant lot near the beach with harbor views.
      906 Canal Drive lot: 14, Carolina Beach, NC 28428
      View Details
    • $525,000

      Residential Lot Near Carolina Beach

      Corner lot near the beach, ideal for building a home.
      1222 Swordfish Lane lot: 1, Carolina Beach, NC
      View Details
    • $835,000

      Oversized Corner Lot Near Ocean

      Rare double lot near the ocean with multiple building options.
      309 Tennessee Avenue, Carolina Beach, NC 28428
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Residential lot with unobstructed marsh views in Carolina Beach.
    Where is this residential land & home lot located?
    The property is located at 116 Virginia Avenue lot 9R Carolina Beach, NC.
    What is the asking price?
    The asking price for this property is $425,000.
    What are key features of this property?
    This property features: Unobstructed marsh views; Bring your own builder; No time restrictions to build
    (919) 730-1490
    We can help!
    Listing Contact
    Brad G Phelps
    Real Estate License ID: 225568
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    116 Virginia Avenue lot: 9R, Carolina Beach, NC 28428
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!