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    12 Nathan Street Wrightsville Beach, NC 28480

    View on Map
    Pending
    $2,060,000

    MULTI_FAMILY - Wrightsville Beach, NC

    Property size:
    3,682 SF
    Lot size:
    0.11 Acres
    Added:
    Jun 3, 2025
    Days on Market:
    303
    Last Refresh:
    Apr 1 at 11:06 am

    Property Features for 12 Nathan Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    R2
    Bedrooms
    8
    Bathrooms
    6
    Rooms
    Bedroom 2, Bathroom 3, Bedroom 4, Bathroom 1, Bedroom 5, Bedroom 8, Bathroom 4, Bathroom 6, Bedroom 3, Bathroom 2, Bedroom 6, Bedroom 7, Bedroom 1, Bathroom 5
    Patio and Porch features
    Deck, Porch
    Interior features
    Ceiling Fan(s)
    Standard status
    Pending
    APN
    R06319-004-010-000
    Size
    3,682 SF
    Lot size
    0.11 Acres

    Taxes and HOA fees

    TaxYear
    2025
    TaxDescription
    LOT 17 MRS E I BEAR DIV

    Utilities

    Heating system
    Propane (Heating), Forced Air
    Cooling system
    Wall/Window Unit(s), Window Unit(s)

    Building Details

    Year built
    1941
    Floors in Building
    2
    Number of units
    4
    Building materials
    Block, Asbestos
    Roof type
    Shingle

    We can help!

    Listing Contact
    Ross Tomaselli

    Listing agent Ross Tomaselli License #318742

    Listing office Cadence Realty Corporation 38 N Lumina Ave., Wrightsville Beach, NC

    Listing date Jun 3, 2025

    MLS# 100513730

    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

    Wrightsville Beach Multifamily Investment Opportunity

    This unique investment offering is located steps from the sand in Wrightsville Beach. The property at 12 Nathan Street features six grandfathered rental units situated on a 0.11-acre lot. Zoned R2, the property includes four 1-bedroom units in the main house and two 2-bedroom units in a detached accessory dwelling unit (ADU). All six units are currently leased at strong rental rates, providing immediate cash flow. The property offers the opportunity to renovate and reposition it as a high-yield short-term rental portfolio, capitalizing on Wrightsville Beach's thriving vacation market. Alternatively, developers may redevelop the lot into a luxury duplex with potential ocean views to the east over Crystal Pier and west-facing views of Banks Channel. The property size is 3682 square feet. This is an opportunity to invest in one of North Carolina's most desirable beach communities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Short term rental ...

    Suggested Use

    Law Firm Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Gym & Fitness Center Auto Repair Shop Kitchen & Bath Showroom

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

    Location Insight

    • Map
    • Local Demand
    City
    Wrightsville Beach
    County
    New Hanover
    State
    North Carolina
    Longitude
    -77.806397
    Latitude
    34.194062

    Nearby Similar for Sale

    • $2,060,000
      3,682 SF

      Wrightsville Beach Multifamily Investment Opportunity

      Six rental units steps from the sand in Wrightsville Beach.
      12 Nathan St, Wrightsville Beach, NC
      View Details
    • $1,600,000
      2,704 SF

      Freestanding Building Near Wrightsville Beach

      2,704 SF building with high visibility near Wrightsville Beach.
      2026 Eastwood Rd, Wrightsville Beach, NC
      View Details

    FAQs

    What type of property is this?
    Apartment building - Six rental units steps from the sand in Wrightsville Beach.
    Where is this apartment building located?
    The property is located at 12 Nathan Street Wrightsville Beach, NC.
    What is the asking price?
    The asking price for this property is $2,060,000.
    What are key features of this property?
    This property features: Prime Location: Steps from the sand in desirable Wrightsville Beach.; Grandfathered Rental Units: Six existing units provide immediate cash flow.; R2 Zoning: Valuable 50x90 lot allows for redevelopment opportunities.
    (910) 367-2663
    We can help!
    Listing Contact
    Ross Tomaselli
    Real Estate License ID: 318742
    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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