Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    Caratoke Hwy Grandy, NC 27939

    • Land
    For Sale
    View listing
    $526,500
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 0 Caratoke Hwy

    Property type
    Land
    Property subtype
    Industrial properties

    Description

    This exceptional 11.3-acre commercial land parcel presents a remarkable investment opportunity in Grandy, North Carolina. Strategically located on Caratoke Highway, this property boasts unparalleled road visibility, ensuring maximum exposure for any business venture. Its proximity to the Outer Banks provides easy access to a thriving tourist market and a diverse population base. The expansive acreage offers endless possibilities for development, from industrial uses to other commercial applications. The seller is open to subdividing the land to accommodate specific project needs, offering flexibility for potential buyers. Furthermore, owner financing may be available, making this prime real estate even more accessible. Situated in Currituck County, with a 27939 zip code, this property is ideally positioned for success. The high-traffic location and potential for subdivision make this a truly unique opportunity to establish a thriving business in a desirable area. Don't miss this chance to acquire a piece of prime commercial real estate with exceptional visibility and development potential.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Grandy
    County
    Currituck
    State
    North Carolina
    Longitude
    -75.8704
    Latitude
    36.2229

    Comparable in this City

    • Value Estimation
      $655,000
      6,300 SF

      104 Outback Ln

      MINI-WAREHOUSE, STORAGE • 6,300 SF
      104 Outback Ln, Grandy, NC 27939
      View Details
    • Value Estimation
      $745,000
      5,250 SF

      144 Carolina Clb Dr

      MINI-WAREHOUSE, STORAGE • 5,250 SF
      144 Carolina Clb Dr, Grandy, NC 27939
      View Details
    • Value Estimation by Request
      3,200 SF

      690 Grandy Rd

      MINI-WAREHOUSE, STORAGE • 3,200 SF
      690 Grandy Rd, Grandy, NC 27939
      View Details
    • Value Estimation by Request
      5,080 SF

      6242 Caratoke Hwy

      MINI-WAREHOUSE, STORAGE • 5,080 SF
      6242 Caratoke Hwy, Grandy, NC 27939-9615
      View Details
    • Value Estimation
      $2,005,000
      15,000 SF

      6810 Caratoke Hwy

      MINI-WAREHOUSE, STORAGE • 15,000 SF
      6810 Caratoke Hwy, Grandy, NC 27939-9635
      View Details
    • Value Estimation by Request
      3,700 SF

      6592 Caratoke Hwy

      MINI-WAREHOUSE, STORAGE • 3,700 SF
      6592 Caratoke Hwy, Grandy, NC 27939-9620
      View Details

    Similar Nearby for Sale

    • $526,500

      Grandy Industrial Land - $526,500

      11.3 Acres, Highway Frontage, Outer Banks Access
      0 Caratoke Hwy, Grandy, NC 27939
      View Details
    • $214,900
      0.51 Acres

      Waterfront Lot with Sound Access

      Navigable canal-front lot with direct sound access and water views.
      105 N Mallard Ct N, Grandy, NC 27939
      View Details
    • $339,000
      3.45 Acres

      Grandy Highway Commercial Lot

      Prime location, 3.45 acres, highway frontage.
      6562 Caratoke Hwy, Grandy, NC 27939
      View Details
    • $225,000
      71,655.00 Acres

      Grandy, NC Commercial Lot

      1.64 acre commercial lot with high visibility.
      6410 Caratoke Hwy, Grandy, NC 27939
      View Details
    • $214,900
      22,215.00 Acres

      Waterfront Lot with Sound Access

      Waterfront lot with paid water tap and direct sound access.
      105 N Mallard Ct, Grandy, NC 27939
      View Details
    • $91,000
      0.92 Acres

      Grandy, NC Land Opportunity

      Almost an acre lot in a peaceful, private cul-de-sac.
      107 Betsy Ct, Grandy, NC 27939
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Caratoke Hwy
    Grandy, NC 27939
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.