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    518 Water St Oriental, NC 28571

    • Commercial real estate
    • 4,007 SF
    • 1.09 lot acres
    For Sale
    View listing
    $769,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Oriental Harbor Real Estate / Real Estate Agency / Marina
    • Barcos Food Company / Fusion Restaurant
    • Art Works Oriental / Art Gallery
    • Oriental Holdings LLC / Holding Company

    Property Details for 518 Water St

    Year built
    1915
    Lot size
    1.09 lot acres
    Property size
    4,007 SF
    Property type
    Commercial real estate

    Description

    This remarkable property located at 518 WATER Street, Oriental, North Carolina presents a unique opportunity for discerning buyers. Boasting a substantial 4,007 square feet of space, this "Other" type property sits on a generous 1.09-acre lot. The expansive footprint offers significant potential for a variety of uses, from residential to commercial ventures, depending on zoning regulations and permitted uses. The prime location in Oriental, NC, offers unparalleled access to the waterfront, providing breathtaking views and recreational opportunities. The property's size and location make it an ideal investment for those seeking a significant presence in this desirable coastal town. Further investigation into local zoning ordinances and permitted uses is recommended to fully explore the development potential of this exceptional property. The asking price for this unique offering is $769,000. Serious inquiries are encouraged to schedule a viewing and explore the possibilities this property presents. Detailed property information and relevant documentation are available upon request. This is a rare opportunity to acquire a substantial waterfront property in a highly sought-after location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Oriental
    County
    Pamlico
    State
    North Carolina
    Longitude
    -76.6984
    Latitude
    35.0256

    Comparable in this City

    • Value Estimation
      $335,000
      244 SF

      301 Ss Ave

      COMMERCIAL (GENERAL) • 244 SF
      301 Ss Ave, Oriental, NC 28571
      View Details
    • Value Estimation by Request
      12,000 SF

      1006 Broad St

      Medical offices • 12,000 SF
      1006 Broad St, Oriental, NC 28571
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    • Value Estimation
      $260,000
      1,680 SF

      1106 Broad St Ext

      WAREHOUSE, STORAGE • 1,680 SF
      1106 Broad St Ext, Oriental, NC 28571-9786
      View Details
    • Value Estimation by Request
      18.00 Acres

      Straight Rd

      Land • 18.00 Acres
      0 Straight Rd, Oriental, NC 28571
      View Details
    • Value Estimation by Request

      1218 Lupton Dr

      Marinas
      1218 Lupton Dr, Oriental, NC 28571
      View Details
    • Value Estimation
      $450,000
      3,880 SF

      101 Ss Ave

      LIGHT INDUSTRIAL • 3,880 SF
      101 Ss Ave, Oriental, NC 28571-9682
      View Details

    Similar Nearby for Sale

    • $4,990,000
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      Prime Waterfront Oriental Estate

      Exceptional waterfront property, 18,289 sq ft.
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    • $769,000
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      Waterfront Oriental Property: Prime Location

      Exceptional waterfront property, 4,007 sq ft, 1.09 acres.
      518 Water St, Oriental, NC 28571
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      0.43 Acres

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    518 Water St
    Oriental, NC 28571
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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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