Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    132 NW 18Th St Oak Island, NC 28465

    Sponsored
    For Sale
    Pending
    $275,000

    LAND - Oak Island, NC

    Lot size:
    0.15 Acres
    Days on Market:
    56
    Last Refresh:
    Feb 2 at 7:06 pm

    Property Features for 132 NW 18Th St

    General Information

    Special listing conditions
    Standard
    Property type
    Land
    Property subtype
    Other
    TransactionType
    Standard
    Standard status
    Pending
    Zoning
    Ok-R-6
    APN
    234fk025
    Lot size
    0.15 Acres

    We can help!

    Listing Contact
    The Donatelli Group

    Coldwell Banker Sea Coast Advantage (910) 799-3435

    Listing agent The Donatelli Group (910) 799-3435

    Listing date Dec 9, 2025

    MLS# 100535707 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.

    Learn more

    Overview

    Garage/Workshop on Oak Island Lot

    This property on Oak Island features a 1,200+ sq. ft. garage/workshop situated on a high and dry lot. Located in the X Flood Zone, the property does not require flood insurance. The structure features 2x6 construction, Hardie siding, and a 13-foot ceiling. An oversized 12' garage door accommodates an RV, boat, or large equipment, and an additional standard garage door provides easy access and storage. The property is wired for electrical, though the meter is not yet set. The sewer assessment has been paid. The existing structure can be transformed to meet various needs, such as a head start on an island getaway home, a private retreat, or a basecamp for coastal adventures. The property offers a one-of-a-kind opportunity in one of Oak Island's most peaceful locations. The Town of Oak Island requires the addition of a kitchen, bathroom, and bedroom/living area to make the property compliant. The lot size is 0.15 acres.
    Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Restaurant Building Supply Gym & Fitness Center Hotel & Motel Department Store Bar & Pub Electrical Service Tech Support Center Bed & Breakfast

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

    Location Insight

    • Map
    • Local Demand
    City
    Oak Island
    County
    Brunswick
    State
    North Carolina
    Longitude
    -78.177627
    Latitude
    33.925474

    Nearby Similar for Sale

    • $925,000
      2,660 SF

      Beachfront Triplex in Oak Island

      Versatile triplex with ocean views, steps to beach and marina.
      5416 W Beach Dr, Oak Island, NC 28465
      View Details
    • New
      $589,000
      1,560 SF

      Oak Island Duplex Investment Opportunity

      Duplex near the beach with income potential.
      100 NE 43Rd St, Oak Island, NC 28465
      View Details
    • $630,000
      1,719 SF

      Turnkey Duplex Near Oak Island Beach

      Renovated duplex, two units, short-term rental potential near the ocean.
      111 NE 19Th St, Oak Island, NC 28465
      View Details
    • $235,000

      Affordable Island Living Opportunity

      Mobile home near Oak Island amenities, sold as is.
      254 NE 66Th St, Oak Island, NC 28465
      View Details
    • $379,000
      5.00 Acres

      3760 George Ii Hwy, Southport, NC 28461

      Commercial real estate • 5.00 Acres
      3760 George Ii Hwy, Southport, NC 28461
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - High and dry lot with 1,200+ sq. ft. garage/workshop.
    Where is this residential land & home lot located?
    The property is located at 132 NW 18Th St Oak Island, NC.
    What is the asking price?
    The asking price for this property is $275,000.
    What are key features of this property?
    This property features: - Located in desirable X Flood Zone; no flood insurance required.; - Enjoy a **1,200+ sq. ft. garage/workshop with high and dry lot.**; - **Oversized 12' garage door suitable for RV, boat, or large equipment.**
    (910) 393-5299
    Request Owner's contact information
    132 NW 18Th St Oak Island, NC 28465
    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.
    132 NW 18Th St
    Oak Island, NC 28465
    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
    132 NW 18Th St Oak Island, NC 28465
    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

    We can help!
    Listing Contact
    The Donatelli Group
    (910) 393-5299
    Learn more
    Google sign-in failed. Please try again or use another login method.