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    Property profile & analytics

    690 Sunset Blvd Sunset Beach, NC 28468

    • Office Properties & Spaces
    • 26,470 SF
    For Lease
    View listing
    $17 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office Properties & Spaces

    Property Details for 690 Sunset Blvd

    Year built
    2007
    Property size
    26,470 SF
    Property type
    Office Properties & Spaces
    Property subtype
    Medical offices

    Description

    This exceptional Class A medical office building, situated at 690 Sunset Boulevard North Unit 207 in Shallotte, Brunswick County, presents a unique opportunity. Boasting a total of 26,470 square feet, this two-story building offers a single suite of 2,680 contiguous square feet currently available for lease. The minimum divisible space is 1,274 square feet, providing flexibility for various medical practices. The building, constructed in 2007, sits on a 1.43-acre lot and features attractive architectural details including 10-foot ceilings on the first floor and impressive 17-foot ceilings on the second. Common areas, restrooms, and stairwells are elegantly finished with travertine floors, marble vanities, paneled doors, and custom molding, creating a sophisticated and welcoming atmosphere. The building is conveniently located at the intersection of Sunset Boulevard N and Pineview Drive, providing excellent visibility next to Sunset Beach Town Hall and across from Sea Trail Plantation. Ample parking is available with 75 spaces. Utilities are serviced by Brunswick EMC. The property is zoned MB-1 (Sunset Beach) and has an APN of 105513223569. An attractive tenant improvement allowance of $40.00 per square foot is available with a negotiated lease. This is an ideal location for medical professionals seeking a high-quality, visible space in a desirable coastal community.

    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
    Sunset Beach
    County
    Brunswick
    State
    North Carolina
    Longitude
    -78.4979
    Latitude
    33.8938

    Comparable in this City

    • Value Estimation
      $815,000
      6,845 SF

      688 Sunset N Blvd

      MEDICAL BUILDING • 6,845 SF
      688 Sunset N Blvd, Sunset Beach, NC 28468-5331
      View Details
    • Value Estimation
      $875,000
      10,960 SF

      710 Sunset N Blvd

      MEDICAL BUILDING • 10,960 SF
      710 Sunset N Blvd, Sunset Beach, NC 28468-4345
      View Details
    • Value Estimation by Request
      3,490 SF

      830 Sunset N Blvd

      MEDICAL BUILDING • 3,490 SF
      830 Sunset N Blvd, Sunset Beach, NC 28468-4262
      View Details
    • Value Estimation by Request
      1,200 SF

      790 Sunset Blvd N Ste, Unit 2

      CONDOMINIUM OFFICES • 1,200 SF
      790 Sunset Blvd N Ste, Sunset Beach, NC 28468-4339
      View Details
    • Value Estimation by Request
      1,800 SF

      790 Sunset Blvd N Ste, Unit 3

      CONDOMINIUM OFFICES • 1,800 SF
      790 Sunset Blvd N Ste, Sunset Beach, NC 28468-4339
      View Details
    • Value Estimation by Request
      1,496 SF

      790 Sunset Blvd N Ste, Unit 6

      CONDOMINIUM OFFICES • 1,496 SF
      790 Sunset Blvd N Ste, Sunset Beach, NC 28468-4339
      View Details

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    Sunset Beach, NC 28468
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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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