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    Prime Development Land in Shallotte, NC Title is generated by Realmo AI

    4700 Shallotte Avenue, Shallotte, NC 28470

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    Claim this Listing
    For Sale
    $1,500,000

    LAND - Shallotte, NC

    Lot size:
    8.57 Acres
    Added:
    Feb 11, 2025
    Days on Market:
    479
    Last Refresh:
    Jun 5 at 6:06 pm

    Property Features for 4700 Shallotte Avenue

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    Sh-Mf-10
    Standard status
    Active
    APN
    1820017504
    Lot size
    8.57 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    Tr-A 7.42 Ac Pl-18/451 & Tr-B 1.12 Acres Plat 18/451

    Utilities

    Utilities
    Water Available
    Water source
    Public

    Building Details

    Additional Structures
    Residence

    We can help!

    Listing Contact
    The Cheek Team

    Listing agent The Cheek Team

    Listing office The Cheek Team 7161 Beach Dr SW Ste 3&4, Ocean Isle Beach, NC

    Listing date Feb 11, 2025

    MLS# 100488410 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

    • +/-8.57 Acre tract in downtown Shallotte ideal for development.
    • Zoned MF‑10, permitting intensive single‑family and multi‑family development (up to 10 units per acre).
    • Water and Sewer Available for connection.
    • Located a short walk from downtown, Mulberry Park, and the River Walk, offering convenient access to amenities.
    • Located in Brunswick County, one of the fastest‑growing counties in the United States.
    • Offered as a bundle of two parcels (1.12 acres and 7.42 acres).

    Overview

    This +/-8.57 acre tract in downtown Shallotte is a development opportunity. Water and sewer connections are available. The parcel is a short walk from downtown, Mulberry Park, and the River Walk, providing access to local shops, restaurants, and other services. Brunswick County is recognized as one of the fastest-growing counties in the United States. Zoned MF-10, the district allows for intensive single-family and multi-family development, provided that public or community water and sewer systems are available. MF-10 Multi-Family Residential Districts serve as transitional zones between high intensity and low intensity land uses and permit a maximum of 10 dwelling units per acre. The site is suitable for investors, builders, developers or anyone looking to capitalize on a prime location. The offering includes two parcels, one 1.12 acre tract and a 7.42 acre wooded tract. A single family home from 1940 is located on the smaller parcel but is being sold at no value.
    Property Profile Location Intelligence

    Current Use by Public Records

    Hot Diggity Dogs ... Take-out & Catering

    Suggested Use

    Real Estate Agency Restaurant Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Shallotte
    County
    Brunswick
    State
    North Carolina
    Longitude
    -78.384923
    Latitude
    33.980256

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    FAQs

    What type of property is this?
    Residential land & home lot - 8.57 acre development opportunity near downtown Shallotte.
    Where is this residential land & home lot located?
    The property is located at 4700 Shallotte Avenue Shallotte, NC.
    What is the asking price?
    The asking price for this property is $1,500,000.
    What are key features of this property?
    This property features: +/-8.57 Acre tract in downtown Shallotte ideal for development.; Zoned MF‑10, permitting intensive single‑family and multi‑family development (up to 10 units per acre).; Water and Sewer Available for connection.
    (910) 477-4554
    We can help!
    Listing Contact
    The Cheek Team
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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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