Individually Owned Property summary
AI-generated overview
This commercial office building is located in Kill Devil Hills, North Carolina, on the corner of East Sothel Street and the 158 By-Pass. The property contains 3,984 square feet of office space and is divided into 10 individual office units. Reported interior and exterior upgrades include replacement or updated flooring, lighting fixtures, and interior paint, along with deck and stair railings. Heating and cooling is provided by 10 individual HVAC units, with six of the units reported as replaced, servicing the separate offices. Nine units were tenant-occupied and one unit was vacant at the time of the described condition; the layout allows for either owner use of the vacant unit or leasing to reach full occupancy. Operating expenses are generally separated such that tenants handle electricity and communications services, while the property has expenses including utilities and taxes paid by the owner.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1990
Total area
3,984 SF
Lot
0.37 ac (16,000 SF)
APN
431000
UPID
US53-3225500
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Hair Salon Nail Salon
-
Counselor
-
Carpet Cleaning Service
-
HVAC Service General Contractor
-
Electronics & Wireless Store
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$930k
CAP Approach
CAP
$800k
Comparable Approach
Comparable
$1.03M
Blend (final)
Blend
$975k
Owner & transaction history
since 2026
Last sale
$1.1M
2 recorded transactions
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Sensitivity value band
Source audit · 6 inputs
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Summary
1
Valuation conclusion
Included free
Estimated market value
$975k
Value range
$878k – $1.07M
±10% around blend
Estimated value / SF
$245 / SF
Confidence
Property data
88
Market benchmarks
33
Comparable evidence
60
$878k
blend $975k
$1.07M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
3,984 SF
Lot area
0.37 ac
Year built
1990
Stories
2
APN
431000
Assessed value
$634,100
Annual tax
$4,791
3
Income approach: direct capitalization
Partial preview
Income approach indication
$800k
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$865k
@ 6.5% CAP return
$800k
@ 7% CAP return
$745k
4
Sales comparison
Partial preview
Sales approach indication
$1.03M
Range $626k – $1.45M
Evidence
6 found
Recent peer sales in this city
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$975k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
County 26 sales
$237
+3%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $245/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Modeled
Market rent
Not available
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Market rates by use type
PDF export
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Overview
Implied cap rate
5.30%
Implied, in-place cap rate for this office buildings
Estimated NOI ÷ last recorded sale. Refine with your own numbers in the full report.
Lower yield / higher price
Higher yield / lower price
5.0%
This property · 5.30%
9.0%
NOI (est.)
$74k *
Last sale · Jan 2026
$1.05M
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$1.39M
Move the market yield to see immediate price impact.
Value / SF
$348
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
4.80%5.30%5.80%
$66k
$1.38M
$1.25M
$1.14M
$74k
$1.53M
$1.39M
$1.27M
$81k
$1.68M
$1.53M
$1.39M
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$4,791
Tax year 2024
Assessed value
$634,100
Assessed 2024
Previous assessed
$634,100
+0.0% YoY
Effective rate
0.76%
On assessed value
Assessed land
$328,500
Assessed improvement
$305,600
Land market value
$328,500
Improvement market value
$305,600
Total market value
$634,100
Applied tax rate
7.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1990
Heating
FORCED AIR
Cooling
CENTRAL
Stories
2
Bathrooms
4
Total area
3,984 SF
Lot
0.37 ac (16,000 SF)
APN
431000
UPID
US53-3225500
Jurisdiction
DARE
Zoning & alternative use
Zoning · permitted uses
No zoning code is on file for this parcel. Zoning coverage grows with every catalog release.
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1990
Heating
FORCED AIR
Cooling
Yes
Stories
2
Bathrooms
4
Lot
0.37 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
No zoning code is on file for this parcel. Zoning coverage grows with every catalog release — check back, or open Location Intelligence for use analysis of this corner.
Ownership Intelligence
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Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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