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    7531 S Virginia Dare Trail Nags Head, NC 27959

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    Claim this Listing
    New
    For Sale
    $5,000,000

    Multi Unit - Nags Head, NC

    Added:
    Apr 14, 2026
    Days on Market:
    2
    Last Refresh:
    Apr 15 at 10:06 pm

    Property Features for 7531 S Virginia Dare Trail

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Parking features
    Off Street, Parking Lot, Paved or Surfaced
    Exterior features
    Dumpster, Outside Storage, Pole Sign
    Standard status
    Active

    Taxes and HOA fees

    Tax Year
    2026
    Tax Annual Amount
    18831.96

    Utilities

    Water front features
    Waterfront
    Water front
    1

    Building Details

    Number of units
    17
    Building materials
    Frame
    Roof type
    Asphalt, Shingle
    Architectural style
    Other
    Additional Structures
    Storage

    We can help!

    Listing Contact
    Suzanne Baer
    Suzanne Baer

    Listing agent Suzanne Baer License #205159

    Listing office Outer Banks Realty Solutions 7531 S Virginia Dare Trail, Manteo, NC

    Listing date Apr 14, 2026

    MLS# 132517 Listing URL

    Copyright © 2026 Outer Banks Association of Realtors®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Nags Head Waterfront Commercial Assemblage

    Nags Head Waterfront Shops at Caribbean Corners is a commercial assemblage situated along the Virginia Dare Trail Causeway in Nags Head. The property includes 17 unit parcels with direct waterfront exposure and boardwalk access. It features over 300 indoor and outdoor seats. The location offers sunset views, walkable waterfront access, and a destination-oriented atmosphere. The property is improved with a mix of established tenants, including restaurants with indoor and outdoor seating, retail spaces, a brewery tasting room, an ice cream shop, and office suites. The property is positioned within Nags Head’s General C-2 zoning and the Water Sports Overlay District, supporting a range of potential commercial and mixed-use concepts, subject to approvals. This property is suited for investors, operators, or long-term holders seeking a coastal asset with potential for future value creation.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Lost Colony Brewery ... Bar & Pub OBXislandtreasure Art Studio Outer Banks Realty ... Real Estate Agency Christie Sells OBX ... Real Estate Agency Poodles and Bob @ FreshFit ... (Bike/Boat/Book/etc) Store

    Suggested Use

    Dental Office Auto Repair Shop Hair Salon Spa & Massage Center Law Firm Auto Parts Store Grocery & Convenience Store Cafe & Coffee Shop (Bike/Boat/Book/etc) Store Pet Store

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

    Similar Places Nearby

    • Outlets Nags Head — 7100 S Croatan Hwy, Nags Head, NC 27959
    • Sunglass Hut — 7100 S Croatan Hwy #84, Nags Head, NC 27959

    Location Insight

    • Map
    • Local Demand
    City
    Nags Head
    County
    Dare
    State
    North Carolina
    Longitude
    -75.599431
    Latitude
    35.905945

    Nearby Similar for Sale

    • $11,950,000

      Historic Inn with Oceanfront Opportunity

      Iconic Outer Banks inn with oceanfront development potential.
      6715 S Croatan Highway, Nags Head, NC 27959
      View Details
    • $1,200,000

      Approved Cottage Court Development Opportunity

      Approved cottage court development opportunity in Nags Head, North Carolina.
      7222 S Virginia Dare Trail, Nags Head, NC 27959
      View Details

    FAQs

    What type of property is this?
    Shopping center - Soundfront commercial property with diverse tenants and development potential.
    Where is this shopping center located?
    The property is located at 7531 S Virginia Dare Trail Nags Head, NC.
    What is the asking price?
    The asking price for this property is $5,000,000.
    What are key features of this property?
    This property features: Rare soundfront commercial assemblage with 17 unit parcels and direct waterfront exposure on the iconic Virginia Dare Trail Causeway.; **Over 300 indoor/outdoor seating capacity**, creating a vibrant destination for dining, shopping, and coastal experiences.; **Unobstructed sunset views over the Roanoke Sound**, enhancing the destination environment and driving consistent visitor traffic.
    (252) 305-2237
    We can help!
    Listing Contact
    Suzanne Baer
    Suzanne Baer
    Real Estate License ID: 205159
    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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