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    Smith Ave & Main St Shallotte, NC 28470
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    Smith Ave & Main St Shallotte, NC 28470

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    • Retail properties & Spaces
    • 188,388 SF
    • 1.09 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 0 Smith Ave & Main St

    Lot size
    1.09 lot acres
    Property size
    188,388 SF
    Property type
    Retail properties & Spaces

    Description

    This exceptional retail center, strategically located in Shallotte, NC, at the intersection of Smith Avenue and Main Street, offers 188,388 square feet of commercial space across six suites. The property boasts a prime location serving as a regional hub for multiple beach towns including Ocean Isle Beach, Holden Beach, Sunset Beach, Oak Island, and Southport. This high-traffic area benefits from numerous annual events drawing significant crowds, such as the North Carolina Festival by the Sea, North Carolina Oyster Festival, and the Brunswick Islands Home & Garden Show, ensuring consistent foot traffic and visibility for tenants. Individual suites range from a minimum of 1,860 square feet to a maximum contiguous space of 12,860 square feet, providing flexibility for various business needs. Currently, 24,180 square feet of space is available. The property sits on a 29.88-acre lot (1.09 acres improved) and is zoned for commercial use within Brunswick County (zip code 28470). This presents a unique opportunity for businesses seeking high visibility and access to a thriving coastal market. The property's size and location make it ideal for a variety of retail uses, offering significant potential for growth and return on investment. Contact us today to learn more about leasing opportunities.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Shallotte
    County
    Brunswick
    State
    North Carolina
    Longitude
    -78.3765
    Latitude
    33.9793

    Comparable in this City

    • Value Estimation by Request
      0.77 Acres

      5459 Main St

      Land • 1,400 SF
      5459 Main St, Shallotte, NC 28470
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    • Value Estimation by Request
      5,400 SF

      4498 Main St, Unit 1

      DEPARTMENT STORE (MULTI-STORY) • 5,400 SF
      4498 Main St, Shallotte, NC 28470-4479
      View Details
    • Value Estimation by Request
      7,420 SF

      5285 Main St Ste, Unit 1

      DEPARTMENT STORE (MULTI-STORY) • 7,420 SF
      5285 Main St Ste, Shallotte, NC 28470-3457
      View Details
    • Value Estimation by Request
      14,640 SF

      Shallotte, NC 28470

      DEPARTMENT STORE (MULTI-STORY) • 14,640 SF
      Shallotte, NC 28470
      View Details
    • Value Estimation by Request
      7,744 SF

      4647 Main St Ste, Unit 1

      DEPARTMENT STORE (MULTI-STORY) • 7,744 SF
      4647 Main St Ste, Shallotte, NC 28470-1771
      View Details
    • Value Estimation
      $2,610,000
      25,300 SF

      4502 Main St, Unit 1

      DEPARTMENT STORE • 25,300 SF
      4502 Main St, Shallotte, NC 28470-4446
      View Details

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    Similar Nearby for Lease

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      Retail and Office Space Available

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      Retail Space in Shallotte, NC

      Retail space in regional hub near beach towns.
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      Retail Space in Growing Area

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    • $8 SF/Yr
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      Updated Retail Space in Shallotte

      Prime retail space available in a high-traffic shopping center.
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      Shallotte Flex/Retail/Office Leasing Opportunity

      Flex/Retail/Office spaces available for lease in Shallotte, North Carolina.
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    • Contact for pricing

      Retail Hub in Shallotte, NC

      Prime retail location serving multiple beach town markets.
      Smith Ave & Main St, Shallotte, NC 28470
      View Details
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    Shallotte, NC 28470
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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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