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    6223 Castlebrook Way SW Ocean Isle Beach, NC 28469

    View on Map
    Sponsored
    For Sale
    $149,900

    LAND - Ocean Isle Beach, NC

    Lot size:
    0.33 Acres
    Days on Market:
    12
    Last Refresh:
    Mar 24 at 2:06 am

    Property Features for 6223 Castlebrook Way SW

    General Information

    Special listing conditions
    Standard
    Property type
    Land
    Property subtype
    Other
    TransactionType
    Standard
    Standard status
    Active
    Zoning
    Co-R-7500
    APN
    228hb046
    Lot size
    0.33 Acres

    Utilities

    Utilities
    Water Available

    We can help!

    Listing Contact
    Joshua H Pierce
    Joshua H Pierce

    Realty ONE Group Dockside North

    Listing agent Joshua H Pierce License #244503

    Listing date Mar 13, 2026

    MLS# 100560174

    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

    Property Insight Report

    Overview

    Ocean Isle Beach Land

    Located in Ocean Ridge Plantation, 6223 Castlebrook Way offers views of the 3rd fairway of the Leopards Chase Golf Club. Ocean Ridge Plantation includes 72 holes of championship golf, a private beach club on Sunset Beach, pickleball, tennis, indoor and outdoor pools, a fitness center, and resort-style amenities. The lot size is 0.33 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Building Supply Hair Salon Hotel & Motel Accounting Firm (Bike/Boat/Book/etc) Store Bed & Breakfast

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

    Location Insight

    • Map
    • Local Demand
    City
    Ocean Isle Beach
    County
    Brunswick
    State
    North Carolina
    Longitude
    -78.470872
    Latitude
    33.922597

    Nearby Similar for Sale

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    • $895,000
      4,000 SF

      Corner Lot Showroom/Office with Warehouse

      Showroom/office with conditioned warehouse on Beach Drive.
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    • Contact for pricing
      3,614 SF

      Established Cabinet Shop For Sale

      Custom cabinet shop with building and detached paint booth.
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    • $689,000

      Income-Producing Mixed-Use Property

      Restaurant, self-storage, and parking spaces for sale.
      6415 Beach Dr SW, Ocean Isle Beach, NC
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Land with golf course views in Ocean Isle Beach, NC.
    Where is this residential land & home lot located?
    The property is located at 6223 Castlebrook Way SW Ocean Isle Beach, NC.
    What is the asking price?
    The asking price for this property is $149,900.
    What are key features of this property?
    This property features: - Prestine views of the 3rd fairway of Ocean Ridge Plantations premier 18 hole golf course, Leapords Chase Golf Club.; - Located in Ocean Ridge Plantation, one of the most desired counties on the east coast.; - Access to a private beach club on Sunset Beach.
    (910) 297-1073
    Request Owner's contact information
    6223 Castlebrook Way SW Ocean Isle Beach, NC 28469
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    Ocean Isle Beach, NC 28469
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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
    6223 Castlebrook Way SW Ocean Isle Beach, NC 28469
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    Listing Contact
    Joshua H Pierce
    Joshua H Pierce
    Real Estate License ID: 244503
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