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

    8066 River Road Southeast Southport, NC

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $6,998,000

    Commercial land with frontage on HWY 87 near Southport.

    Type:LAND
    Lot size:
    72.00 Acres
    Added:
    Apr 19, 2023
    Days on Market:
    1079
    Last Refresh:
    Mar 30 at 9:39 pm

    Property Features for 8066 River Road Southeast

    General Information

    Standard status
    Active
    Lot size
    72.00 Acres
    Property subtype
    LAND

    We can help!

    Listing Contact
    Hansen Matthews, Jr

    Listing agent Hansen Matthews, Jr

    Listing office Maus, Warwick, Matthews & Co.

    Listing date Apr 19, 2023

    Source Moodyscre

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Maus, Warwick, Matthews & Co.

    Overview

    Commercial Land on HWY 87

    This commercial land tract is situated on HWY 87, leading into Southport, at the intersection of the cutoff road to the Oak Island bridge. The property features almost 2,000 linear feet of frontage on HWY 87, providing excellent visibility and access. The owners will consider subdividing the tract on a situational basis for a variety of uses, including multifamily, retail, restaurant, office, medical, and hospitality. Breakout pricing will be determined by the use, size, and shape of the subdivided parcel. The property consists of two parcels: Parcel ID # 2050000107 & Parcel ID # 20500001.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Kitchen & Bath Showroom Food Market

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

    Location Insight

    • Map
    • Local Demand
    City
    Southport
    County
    Brunswick
    State
    North Carolina
    Longitude
    -78.0296
    Latitude
    33.9648

    Nearby Similar for Sale

    • $750,000
      1,584 SF

      Southport Commercial Property For Sale

      Premier commercial property in historic downtown Southport, North Carolina.
      414 N Howe Street, Southport, NC 28461
      View Details
    • $315,000

      Southport, NC Commercial Land

      5 acre commercial lot with high visibility in Southport, NC.
      3760 George II Highway SE, Southport, NC 28461
      View Details
    • $427,500

      Southport, NC Land Opportunity

      0.59-acre parcel zoned CO-NC, suitable for various uses.
      1228 N Lord Street, Southport, NC 28461
      View Details
    • $419,900

      Golf Course Homesite in Southport

      Premier homesite on the 1st green in St. James Plantation.
      3760 Players Club Drive SE, Southport, NC 28461
      View Details
    • $1,500,000
      4,692 SF

      Southport Multifamily Investment Opportunity

      Four-unit property with short-term rental grandfathering and strong income.
      514 W St George, Southport, NC 28461
      View Details
    • $60,000

      Cleared Land Near Southport, NC

      Cleared 0.48-acre lot, convenient to parks, fishing, Wilmington, and Southport.
      1230 Juniper Road lot: 54-55, Southport, NC 28461
      View Details
    • $1,775,000
      5,262 SF

      Southport Multifamily Investment Opportunity

      Unique four-unit property with short-term rental advantage in Southport.
      510 W St George, Southport, NC 28461
      View Details
    • $359,000

      Oversized Homesite in St. James

      Spacious lot in prime location with pond view.
      4408 Prince Regent Court lot: 17, Southport, NC 28461
      View Details
    • $635,000

      Highway 133 Commercial Land Parcel

      0.92-acre commercial lot with high visibility on Highway 133.
      4475,4485 Long Beach Road SE lot: 32 & 31, Southport, NC 28461
      View Details
    • $389,000

      Southport Commercial Land For Sale

      1.23 acre commercial land suitable for mixed-use development.
      8345 River Road SE, Southport, NC 28461
      View Details
    • $635,000

      Highway 133 Commercial Land

      Undeveloped 0.92-acre commercial lot with high visibility.
      4495-4505 Long Beach Road SE lot: 30 & 29, Southport, NC 28461
      View Details
    • $635,000

      Highway 133 Commercial Land

      Undeveloped 0.91-acre commercial lot with high visibility.
      4465 Long Beach Road SE lot: 33&34, Southport, NC 28461
      View Details

    FAQs

    What type of property is this?
    Land - Commercial land with frontage on HWY 87 near Southport.
    Where is this land located?
    The property is located at 8066 River Road Southeast Southport, NC.
    What is the asking price?
    The asking price for this property is $6,998,000.
    What are key features of this property?
    This property features: Almost 2,000 linear feet of frontage on HWY 87.; Excellent visibility and access.; Located on HWY 87 leading into Southport at the intersection to the cutoff road to the Oak Island bridge.
    (910) 791-0400
    We can help!
    Listing Contact
    Hansen Matthews, Jr
    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!