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    Turn-Key Ocean-View Bar & Restaurant Title is generated by Realmo AI

    219 Myrtle Avenue, Carolina Beach, NC 28428

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    Claim this Listing
    For Lease
    $6,500/Mo $32 SF/Yr (calc)

    COMMERCIAL - Carolina Beach, NC

    Property size:
    2,400 SF
    Lot size:
    0.17 Acres
    Added:
    Oct 20, 2025
    Days on Market:
    228
    Last Refresh:
    Jun 4 at 6:06 pm

    Property Features for 219 Myrtle Avenue

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Zoning
    CBD-CENTRAL BUS
    Parking features
    Off Street
    Standard status
    Active
    APN
    R09006-003-009-000
    Size
    2,400 SF
    Lot size
    0.17 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    D 8/9/10 CAR BCH
    Expense value
    21500
    Expense
    SecurityDeposit
    Expense freq.
    One Time

    Utilities

    Heating system
    Forced Air, Electric (Heating)
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    2024
    Flooring type
    Tile, Wood
    Building materials
    Wood Frame
    Roof type
    Metal

    We can help!

    Listing Contact
    Daniel J Boyle

    Listing agent Daniel J Boyle License #310559

    Listing office Town & Country Real Estate 401-A Chestnut St, Wilmington, NC

    Listing date Oct 20, 2025

    MLS# 100537029

    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.

    HighLights

    • 2024‑built wood‑frame bar & restaurant venue for lease (real estate not included).
    • Metal roof; forced‑air and electric heating with central air cooling.
    • Public water service and off‑street parking.
    • Includes 2,400 sq ft indoor dining and bar space.
    • Includes a 1,200 sq ft ocean‑view deck for live bands and outdoor gatherings.
    • Total includes 3,600 sq ft of deck and indoor space for a coastal entertainment concept.

    Overview

    This turn-key bar and restaurant lease opportunity is designed for live entertainment, with a coastal-style ocean-view deck plus dedicated indoor dining and bar areas. The offering totals 3,600 square feet, including a 1,200 square foot deck suited to guest seating and open-air gatherings, and 2,400 square feet of sleek indoor space for dining, service, and bar operations.

    Located in the Central Business District (CBD-CENTRAL BUS) in Carolina Beach, North Carolina, the property benefits from a high-visibility position within a well-known beach nightlife corridor. The venue is presented as live music and entertainment-ready, making it a strong fit for operators who want an established, turnkey setup rather than a ground-up build.

    Ideal for restaurateurs, bar operators, and investor-operators seeking an immediately usable concept in a thriving coastal community, this space supports both indoor service and outdoor deck programming. With the current turn-key configuration and entertainment focus, it can serve as a compelling platform for a venue emphasizing live bands, sunset experiences, and guest-friendly atmosphere—assuming the right operational plan for the tenant.
    Property Profile Location Intelligence

    Current Use by Public Records

    Melecios Fiesta Bar ... Restaurant Tuff Digital Marketing, ... Marketing & Advertising

    Suggested Use

    Law Firm Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Carolina Beach
    County
    New Hanover
    State
    North Carolina
    Longitude
    -77.893167
    Latitude
    34.035767

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    FAQs

    What type of property is this?
    Conventional restaurant - Ocean-view deck and indoor dining/bar space make this a ready-to-operate venue for live music and entertainment.
    Where is this conventional restaurant located?
    The property is located at 219 Myrtle Avenue Carolina Beach, NC.
    What is the lease rate?
    The lease rate is $6,500 /Mo.
    What are key features of this property?
    This property features: 2024‑built wood‑frame bar & restaurant venue for lease (real estate not included).; Metal roof; forced‑air and electric heating with central air cooling.; Public water service and off‑street parking.
    (910) 297-5322
    We can help!
    Listing Contact
    Daniel J Boyle
    Real Estate License ID: 310559
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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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