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    Southport Homesites: Investor Opportunity Title is generated by Realmo AI

    27 Lots N Caswell Avenue, Southport, NC 28461

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    Claim this Listing
    Pending
    $1,950,000

    LAND - Southport, NC

    Lot size:
    3.80 Acres
    Added:
    Jul 26, 2024
    Days on Market:
    681
    Last Refresh:
    Jun 6 at 1:06 am

    Property Features for 27 Lots N Caswell Avenue

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    SBR-6000 county
    Standard status
    Pending
    APN
    221ma00110
    Lot size
    3.80 Acres

    Taxes and HOA fees

    Tax Year
    2023
    Tax Description
    4.51 AC SOUTHPORT HEIGHTS
    Tax Annual Amount
    3424

    Utilities

    Utilities
    Water Available
    Water source
    Public

    We can help!

    Listing Contact
    Ginger Harper Real Estate Group

    Listing agent Ginger Harper Real Estate Group

    Listing office Coldwell Banker Sea Coast Advantage - SP 108 S Davis Street, Southport, NC

    Listing date Jul 26, 2024

    MLS# 100457934 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

    • 27 residential homesites being sold together.
    • Located a few blocks from the Cape Fear River, Downtown Southport shops and restaurants, and the Historic District.
    • Parcels are already individually recorded on original Southport Heights subdivision plats.
    • Outside of Southport city limits and not subject to city property taxes.
    • Zoning, planning, and permitting authority controlled by Brunswick County.
    • Close proximity to beaches, golf, and other Carolina Coast attractions, as well as Wilmington and Myrtle Beach.

    Overview

    These 27 residential homesites are located in Southport, a few blocks from the Cape Fear River, downtown shops and restaurants, and historic district landmarks. The location provides convenient access to beaches, golf courses, and other attractions along the Carolina Coast, with a reasonable commute to Wilmington and Myrtle Beach. Each parcel measures approximately 50 feet by 120 feet and is individually recorded on the original Southport Heights subdivision plats from the early 20th century. One lot abuts W. 14th Street along its long side, 11 lots abut N. Caswell Avenue along their short side, and 15 lots abut the right-of-way of the unbuilt blocks of N. Lord Street between W. 12th and W. 14th Streets. The right-of-way for the unbuilt block of W. 13th Street runs east-west through the group of lots, dividing them into two sections. The properties are not incorporated into Southport's city limits and are not subject to city property taxes. The zoning, planning, and permitting authority for this property are controlled by Brunswick County as of July 1, 2024. Property taxes are levied by Brunswick County, Southport Fire District and Dosher Hospital District. The property is within a 10-mile radius of Brunswick Nuclear Plant and of Military Ocean Terminal Sunny Point. The total lot size is approximately 3.8 acres. The sellers intend to sell all 27 lots together in one transaction.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Southport
    County
    Brunswick
    State
    North Carolina
    Longitude
    -78.025905
    Latitude
    33.933752

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    FAQs

    What type of property is this?
    Residential land & home lot - 27 residential homesites near Cape Fear River and Southport.
    Where is this residential land & home lot located?
    The property is located at 27 Lots N Caswell Avenue Southport, NC.
    What is the asking price?
    The asking price for this property is $1,950,000.
    What are key features of this property?
    This property features: 27 residential homesites being sold together.; Located a few blocks from the Cape Fear River, Downtown Southport shops and restaurants, and the Historic District.; Parcels are already individually recorded on original Southport Heights subdivision plats.
    (910) 808-9723
    We can help!
    Listing Contact
    Ginger Harper Real Estate Group
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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.

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