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    135 N Third Avenue N Kure Beach, NC 28449

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    Claim this Listing
    For Sale
    $999,900

    MULTI_FAMILY - Kure Beach, NC

    Property size:
    2,273 SF
    Lot size:
    0.12 Acres
    Price / SF:
    $439/SF
    Added:
    Nov 10, 2025
    Days on Market:
    167
    Last Refresh:
    Apr 26 at 12:06 am

    Property Features for 135 N Third Avenue N

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    RA-2
    Bedrooms
    5
    Bathrooms
    3
    Rooms
    Bedroom 5, Bedroom 1, Bathroom 2, Bathroom 1, Bedroom 3, Bedroom 2, Bathroom 3, Bedroom 4
    Parking features
    Assigned
    Patio and Porch features
    Deck
    Interior features
    Apt/Suite
    Standard status
    Active
    APN
    R09213-012-014-000
    Size
    2,273 SF
    Lot size
    0.12 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    S Pt Lt 10/11 Blk 34 Kure Beach
    Tax Annual Amount
    3567

    Utilities

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

    Building Details

    Year built
    1986
    Floors in Building
    2
    Number of units
    3
    Flooring type
    Lvt/lvp, Laminate, Tile
    Building materials
    Concrete, Block, Brick, Vinyl Siding, Wood Frame
    Roof type
    Shingle, Membrane

    We can help!

    Listing Contact
    Dylan Kosinski
    Dylan Kosinski

    Listing agent Dylan Kosinski License #292444

    Listing office Intracoastal Realty Corp 1900 Eastwood Road, Suite 38, Wilmington, NC

    Listing date Nov 10, 2025

    MLS# 100540580 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 Triplex Investment Opportunity

    This triplex, designed in a boho-style, is located moments from the beach in Kure Beach. The property features chic black and white accents and a modern vibe. The front home includes two bedrooms and one bath, with bright living spaces and updated finishes. Behind the main home are a two-bedroom, one-bath dwelling and a one-bedroom, one-bath dwelling. A common area includes a firepit lounge, grilling station, and outdoor seating. The property has a proven gross rental income of over $100,000 per year. The property is within walking distance to the beach, local restaurants, and other attractions. The lot size is 0.12 acres, and the property size is 2273 square feet. The zoning is RA-2. This property is suitable for investors or owner-occupants looking to enjoy the coastal lifestyle with rental income.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Real Estate Agency Restaurant Law Firm 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
    -77.9070894
    Latitude
    33.9998431

    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
    • $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?
    Triplex - Boho-style triplex near Kure Beach with strong rental income.
    Where is this triplex located?
    The property is located at 135 N Third Avenue N Kure Beach, NC.
    What is the asking price?
    The asking price for this property is $999,900.
    What are key features of this property?
    This property features: Proven gross rental income of over $100,000 per year.; Turn‑key triplex investment opportunity near Kure Beach.; Walking distance to the beach, restaurants, and Kure Beach attractions.
    (910) 256-4503
    We can help!
    Listing Contact
    Dylan Kosinski
    Dylan Kosinski
    Real Estate License ID: 292444
    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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