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

    24251 Atlantic Dr Rodanthe, NC 27968

    • Commercial real estate
    • 1.84 lot acres
    For Sale
    View listing
    $1,900,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 24251 Atlantic Dr

    Year built
    1980
    Lot size
    1.84 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional 1.84-acre oceanfront property in Rodanthe, NC, presents a unique investment opportunity. The iconic Rodanthe Pier, established in the 1960s, boasts approximately 500 feet of oceanfront expanse, offering breathtaking Atlantic views. Its rich history and prominent location make it a beloved destination, featured in popular films and attracting visitors year-round. The property's substantial size allows for significant development potential, subject to local regulations, potentially including a boutique hotel, resort, or exclusive oceanfront residences. The pier's current net operating income is $160,000. This prime location offers unparalleled access to the Outer Banks' natural beauty, including pristine beaches, diverse wildlife, and world-class surfing and fishing. Nearby amenities include charming shops, restaurants, and historical sites. This is a rare chance to acquire a piece of Outer Banks history and a highly sought-after coastal real estate asset. The property's potential for redevelopment, combined with its current income stream, makes it an exceptional investment opportunity.

    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
    Rodanthe
    County
    Dare
    State
    North Carolina
    Longitude
    -75.4614
    Latitude
    35.5849

    Comparable in this City

    • Value Estimation
      $2,325,000
      19,977 SF

      24502 Nc Hwy 12th, Unit 50

      COMMERCIAL CONDOMINUIM • 19,977 SF
      24502 Nc Hwy 12th, Rodanthe, NC 27968
      View Details
    • Value Estimation by Request
      1,024 SF

      23444 Nc Hwy 12

      COMMERCIAL (GENERAL) • 1,024 SF
      23444 Nc Hwy 12, Rodanthe, NC 27968
      View Details
    • Value Estimation by Request
      352 SF

      23731 Nc Hwy 12

      COMMERCIAL (GENERAL) • 352 SF
      23731 Nc Hwy 12, Rodanthe, NC 27968
      View Details
    • Value Estimation
      $1,550,000
      10,788 SF

      Nc 12th Hwy

      COMMERCIAL (GENERAL) • 10,788 SF
      Nc 12th Hwy, Rodanthe, NC 27968
      View Details
    • Value Estimation by Request
      6.74 Acres

      23001 Cross Of Honor Way

      OFFICE (GENERAL) • 6.74 Acres
      23001 Cross Of Honor Way, Rodanthe, NC 27968
      View Details
    • Value Estimation
      $585,000
      3,200 SF

      24251 Atlantic Dr

      RETAIL STORES (PERSONAL SERVICES) • 3,200 SF
      24251 Atlantic Dr, Rodanthe, NC 27968
      View Details

    Similar Nearby for Sale

    • $1,900,000
      1.84 Acres

      Oceanfront Rodanthe Pier Investment

      Historic landmark, prime oceanfront location.
      24251 Atlantic Dr, Rodanthe, NC 27968
      View Details
    • $439,000
      55,999.00 Acres

      Oceanfront Acreage in Rodanthe

      Oceanfront 77,199 sq ft parcel ready for your dream home.
      Sudie Payne Rd, Rodanthe, NC 27968
      View Details
    • $575,000
      29,500.00 Acres

      Soundside Lot in Rodanthe, NC

      Cleared, bulkheaded 0.67-acre lot ready for single-family home.
      Nc 12 Hwy, Rodanthe, NC 27968
      View Details
    • $1,459,000
      4,449 SF

      Luxury Oceanfront Vacation Rental

      8BR, 7.5BA Ocean & Sound Views
      24205 Caribbean Ct, Rodanthe, NC 27968
      View Details
    • $5,900,000
      6,936 SF

      NC was established in 1983 and has become a beloved community staple known for its friendly service and diverse product range. This is truly a once in a lifetime time opportunity to own a landmark business that's part of the heartbeat of the community. It's central location supports the local community year round and is a destination stop for the thousands of tourist who visit the area annually. The volume of business Island Convenience generates makes it an extremely high volume business. With an average of$169k inside sales

      @$33k Deli Sales and @70K gallons on a monthly basis. \u00c2\u00a0Interested investors are asked to sign an NDA as well as provide proof of funds with request for detailed financials which include a detailed monthly sales report as well as P&L Statements.. With accepted offer the parcel will be surveyed
      23532 Nc Hwy 12 Hwy, Rodanthe, NC 27968
      View Details
    • $1,900,000
      3,212 SF

      Rodanthe Warehouse: Oceanfront Investment

      Prime NC Warehouse, High NOI, Ocean Views
      24251 Atlantic Dr, Rodanthe, NC 27968
      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.
    24251 Atlantic Dr
    Rodanthe, NC 27968
    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.