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    Oceanfront Lot in Southern Shores Title is generated by Realmo AI

    76A Ocean Boulevard lot 3, Southern Shores, NC 27949

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    Claim this Listing
    Pending
    $1,499,000

    LAND - Southern Shores, NC

    Added:
    Aug 18, 2025
    Days on Market:
    278
    Last Refresh:
    May 22 at 6:06 am

    Property Features for 76A Ocean Boulevard lot 3

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    RS1
    Standard status
    Pending

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    9717

    Utilities

    Water front features
    Ocean Front
    Water front
    1

    We can help!

    Listing Contact
    M. Kent Copeland
    M. Kent Copeland

    Listing agent M. Kent Copeland License #185671

    Listing office Coldwell Banker Seaside Realty KH 4900 N Croatan Hwy., Kitty Hawk, NC

    Listing date Aug 18, 2025

    MLS# 130258 Listing URL

    Copyright © 2026 Outer Banks Association of Realtors®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Rare Oceanfront Lot on Ocean Boulevard
    • Potential to build a large home (up to 5,000‑6,000 sq. ft.)
    • Located in Southern Shores
    • Voluntary membership in Southern Shores Civic Association with sound front parks, playgrounds, and ocean access with oceanside parking
    • Lot dimensions accommodate a 26 ft. wide structure
    • Optional membership in Tennis Club and Boat Club with marina access

    Overview

    This oceanfront lot is available for sale in Southern Shores. The property is located on Ocean Boulevard and is suitable for building a vacation dream home or an investment property. According to the Town of Southern Shores, the property may support a 5,000 sq.ft. home of enclosed living space with 7 bedrooms and a 60 ft. oceanside setback. It may also support up to a 6,000 sq.ft. home with a 120 ft. setback, depending on lot coverage. The lot is 50 foot wide and will accommodate a 26 ft. wide structure with 12 ft. side setbacks. Southern Shores Civic Association offers voluntary membership with amenities such as sound front parks, playgrounds, and ocean access with oceanside parking. For additional fees, members may join the Tennis Club and Boat Club, with the Boat Club membership providing access to the Southern Shores marinas, including usage of a boat launch ramp and boat slips.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Southern Shores
    County
    Dare
    State
    North Carolina
    Longitude
    -75.717795
    Latitude
    36.111965

    FAQs

    What type of property is this?
    Residential land & home lot - Rare oceanfront lot, ideal for a dream home or investment.
    Where is this residential land & home lot located?
    The property is located at 76A Ocean Boulevard lot 3 Southern Shores, NC.
    What is the asking price?
    The asking price for this property is $1,499,000.
    What are key features of this property?
    This property features: Rare Oceanfront Lot on Ocean Boulevard; Potential to build a large home (up to 5,000‑6,000 sq. ft.); Located in Southern Shores
    (252) 202-2815
    We can help!
    Listing Contact
    M. Kent Copeland
    M. Kent Copeland
    Real Estate License ID: 185671
    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.

    More about this property
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