Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    L-38 E Yacht Drive lot 38 Oak Island, NC 28465

    View on Map
    New
    For Sale
    $330,000

    LAND - Oak Island, NC

    Added:
    Apr 1, 2026
    Days on Market:
    2
    Last Refresh:
    Apr 2 at 9:06 am

    Property Features for L-38 E Yacht Drive lot 38

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    Ok-R-6
    Standard status
    Active
    APN
    235jb02801

    Taxes and HOA fees

    TaxYear
    2026
    TaxDescription
    L-38 B-161 S-11 TRANQUIL HARBOUR PL-5/128
    TaxAnnualAmount
    1533

    Utilities

    Utilities
    Water Available
    Water source
    Public

    We can help!

    Listing Contact
    Kathy Ross

    Listing agent Kathy Ross License #234933

    Listing office Palm Realty, Inc. 8501 E Oak Island, Oak Island, NC

    Listing date Apr 1, 2026

    MLS# 100564230

    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

    Homesite on E Yacht Drive

    This homesite is located on E Yacht Drive in Oak Island, North Carolina. Situated on the east end of Oak Island, the property is near the Intracoastal Waterway (ICW). The location provides convenient access to local restaurants, coffee and ice cream shops, grocery stores, shopping areas, parks, and a splash-pad. Oak Island offers proximity to Southport, Wilmington, and Myrtle Beach. The property is a short distance from the Jetport, Oak Island Lighthouse, and Oak Island Golf Club. This homesite is suited for building a beach home.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Big Box & Wholesale Store Auto Repair Shop Hotel & Motel Kitchen & Bath Showroom Grocery & Convenience Store Cafe & Coffee Shop Computer & Electronic Repair Travel Agency Bed & Breakfast

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

    Location Insight

    • Map
    • Local Demand
    City
    Oak Island
    County
    Brunswick
    State
    North Carolina
    Longitude
    -78.158524
    Latitude
    33.926776

    Nearby Similar for Sale

    • $350,000

      Waterfront Lot on Oak Island

      Waterfront lot perfect for building a dream coastal home.
      120 SE 17th Street, Oak Island, NC 28465
      View Details
    • $399,000

      Waterfront Lot on Davis Canal

      Large waterfront lot for dream coastal home with canal access.
      112 SE 22nd Street lot: 16, Oak Island, NC 28465
      View Details
    • $450,000

      Double Lot Near High Elevation

      Double lot near Oak Island's highest elevation, build your dream home.
      142 NW 1st Street lot: 57&58, Oak Island, NC 28465
      View Details
    • $500,000

      Ocean View Homesite Opportunity

      Rare homesite near the beach with potential ocean views.
      2606 E Dolphin Drive lot: 3, Oak Island, NC 28465
      View Details
    • $750,000
      1,822 SF

      Oak Island Multifamily Coastal Property

      Multifamily property on Oak Island, steps from the beach.
      2902 E Beach Drive, Oak Island, NC 28465
      View Details
    • $399,900

      Waterfront Lot on Oak Island

      Residential land on canal, ready for dream home construction.
      121 SW 13th Street lot: 15, Oak Island, NC 28465
      View Details
    • $630,000

      Oak Island Homesite Opportunity

      Desirable Oak Island homesite near beach, shops, and restaurants.
      111 SE 78th Street, Oak Island, NC 28465
      View Details
    • $650,000

      Turtle Creek Homesite, Oak Island

      Homesite in Turtle Creek, moments from the Atlantic Ocean.
      14 SE 68th Street lot: 14, Oak Island, NC 28465
      View Details
    • $675,000

      Oceanfront Lot in Oak Island

      Stunning oceanfront lot in the heart of Oak Island.
      5523 E Beach Drive lot: 12, Oak Island, NC 28465
      View Details
    • $450,000
      2,160 SF

      Oak Island Duplex Investment Opportunity

      Tenant-occupied duplex near the beach with steady rental income.
      148 NW 3rd Street unit: A & B, Oak Island, NC 28465
      View Details
    • $480,000

      Marsh-Front Lot Near Atlantic

      Marsh-front lot near the Atlantic Ocean and Intracoastal Waterway.
      3320 W Dolphin Drive lot: 10, Oak Island, NC 28465
      View Details
    • $450,000

      Ocean View Buildable Lot

      Rare opportunity to build a custom beach home with ocean views.
      2621 E Pelican Drive, Oak Island, NC 28465
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Homesite on Oak Island's east end near ICW.
    Where is this residential land & home lot located?
    The property is located at L-38 E Yacht Drive lot 38 Oak Island, NC.
    What is the asking price?
    The asking price for this property is $330,000.
    What are key features of this property?
    This property features: Prime location on E Yacht Drive in the highly sought‑after east end of Oak Island.; Potential for Intracoastal Waterway (ICW) views.; Close proximity to popular restaurants, coffee shops, grocery stores, shopping, parks, and a splash‑pad.
    (910) 279-2613
    We can help!
    Listing Contact
    Kathy Ross
    Real Estate License ID: 234933
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!