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    1604 Sand Dollar Court Kure Beach, NC 28449

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    For Sale
    $475,999

    Rare, renovated condo in Kure Beach with stunning ocean views.

    Type:Condominium
    Property size:
    1,116 SF
    Price / SF:
    $426/SF
    Added:
    Mar 28, 2025
    Days on Market:
    400
    Last Refresh:
    Apr 5 at 8:28 pm

    Property Features for 1604 Sand Dollar Court

    General Information

    Standard status
    Active
    Size
    1,116 SF
    Property subtype
    Condominium

    Building Details

    Year Built
    1984

    We can help!

    Listing Contact
    Benjamin Szafran

    Listing agent Benjamin Szafran License #265456

    Listing office Wilmington

    Listing date Mar 28, 2025

    Source Kw

    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 Wilmington

    Overview

    Luxurious Condo with Ocean Views

    This two-level condo, one of only 11 of its kind in Ocean Dunes, offers unobstructed ocean views and nestled privacy, mere steps from the water. The property features a luxurious, top-to-bottom interior renovation with a custom layout maximizing useful spaces and a cohesive design aesthetic. LVP flooring extends throughout the condo, complemented by overhead flush mount lighting, a custom pantry, and an open-concept kitchen with oversized bar seating. Additional features include a whole-house AO Smith water filtration system, a modern electric fireplace, and three full bathrooms. The master closet includes organizers with a cedar ceiling, and new impact glass slider doors and windows lead to a raised deck platform. The property includes an extra-wide carport with a custom-built storage area. Ocean Dunes offers resort-style living with amenities including indoor and outdoor pools, a sauna, tennis courts, pickleball courts, a playground, and a fitness center. The homeowners' dues cover insurance and exterior maintenance.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Short term rental ...

    Suggested Use

    Restaurant Real Estate Agency Building Supply Hotel & Motel Accounting Firm Parking Lot & Garage

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

    Location Insight

    • Map
    • Local Demand
    City
    Kure Beach
    County
    New Hanover
    State
    North Carolina
    Longitude
    -77.914
    Latitude
    33.9757

    Nearby Similar for Sale

    • $1,250,000
      2,751 SF

      Kure Beach Multifamily Home

      Turnkey, furnished home near the beach with ocean views.
      314 K Avenue, Kure Beach, NC 28449
      View Details
    • $999,900
      2,273 SF

      Kure Beach Triplex Investment Opportunity

      Boho-style triplex near Kure Beach with strong rental income.
      135 N Third Avenue N, Kure Beach, NC 28449
      View Details
    • $549,000
      634 SF

      Kure Beach Seaside Hideaway

      Two cottages near the ocean with redevelopment potential.
      218 N Third Avenue N, Kure Beach, NC 28449
      View Details

    FAQs

    What type of property is this?
    Short term rental property - Rare, renovated condo in Kure Beach with stunning ocean views.
    Where is this short term rental property located?
    The property is located at 1604 Sand Dollar Court Kure Beach, NC.
    What is the asking price?
    The asking price for this property is $475,999.
    What are key features of this property?
    This property features: Unobstructed ocean views and steps to the water's edge.; **Top‑to‑bottom luxurious interior renovation with custom layout.**; Access to premier resort‑style amenities: indoor/outdoor pools, sauna, tennis, pickleball, playground, and fitness center.
    (910) 713-9323
    We can help!
    Listing Contact
    Benjamin Szafran
    Real Estate License ID: 265456
    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.

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