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    Property profile & analytics

    116 Shr Dr Surf City, NC 28445-6670

    • Commercial kitchens
    • 384 SF
    • 0.04 lot acres
    OFF-MARKET
    Value Estimations
    $270,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-2299651
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Sea-King Refuge / Vacation Home Rental Agency
    • SurfCityHeart / Vacation Home Rental Agency

    Property Details for 116 Shr Dr

    Year built
    1998
    Lot size
    0.04 lot acres
    Property size
    384 SF
    Zone code
    C1
    Property type
    Commercial kitchens
    APN
    4234-88-5809-0000
    APU
    42348858090000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $270,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Surf City
    County
    Pender
    State
    North Carolina
    Longitude
    -77.5458
    Latitude
    34.425
    CBSA code
    48900
    CBSA name
    WILMINGTON, NC METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    0
    $0.00
    $84,630
    $50,300
    $134,930
    -
    $84,630
    $50,300
    $134,930

    Comparable in this City

    • Value Estimation
      $235,000
      524 SF

      103 Shr Dr

      TAKE-OUT RESTAURANT • 524 SF
      103 Shr Dr, Holly Ridge, NC 28445
      View Details
    • Value Estimation
      $265,000
      900 SF

      412 Roland Ave

      TAKE-OUT RESTAURANT • 900 SF
      412 Roland Ave, Surf City, NC 28445-6685
      View Details
    • Value Estimation
      $220,000
      1,872 SF

      801 Anderson Blvd

      RESTAURANT • 1,872 SF
      801 Anderson Blvd, Topsail Beach, NC 28445
      View Details
    • Value Estimation
      $295,000
      2,610 SF

      808 Anderson Blvd

      RESTAURANT • 2,610 SF
      808 Anderson Blvd, Topsail Beach, NC 28445-6948
      View Details
    • Value Estimation
      $315,000
      2,496 SF

      14085 Nc Hwy 50

      RESTAURANT • 2,496 SF
      14085 Nc Hwy 50, Surf City, NC 28445-6565
      View Details
    • Value Estimation
      $195,000
      4,498 SF

      13481 Nc Hwy 50

      DRIVE-THRU RESTAURANT, FAST FOOD • 4,498 SF
      13481 Nc Hwy 50, Surf City, NC 28445-6553
      View Details

    Similar Nearby for Sale

    • $3,495,000
      3,606 SF

      Established Restaurant Business and Building

      Thriving restaurant with prime location and sound reputation.
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    • $3,495,000

      Established Surf City Restaurant Opportunity

      Thriving restaurant business and building for sale in Surf City.
      211 S Topsail Dr, Surf City, NC 28445
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    • Contact for pricing
      58.86 Acres

      58.86 Acres in Holly Ridge NC

      Multifamily properties • 58.86 Acres
      308 Pilchers Branch Rd, Holly Ridge, NC 28445
      View Details
    • $1,757,110

      Highway Business Zoned Commercial Lot

      21.17 acre commercial lot with highway frontage.
      Wilmington Hwy, Holly Ridge, NC 28445
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    • $2,400,000

      27 Acres Highway Business Land

      27 acres of vacant land zoned for Highway Business.
      883 N New River Dr, Holly Ridge, NC 28445
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    • $359,000
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      Waterfront Commercial Land in Surf

      2.4-acre commercial tract in the heart of Surf City.
      309 N New River Dr, Surf City, NC 28445
      View Details

    Similar Nearby for Lease

    • $22 SF/Yr
      4,452 SF

      Surf City NC Office/Retail Space

      Office and retail space available for rent in Surf City.
      13094 Nc Highway 50, Surf City, NC 28445
      View Details
    • $3,600 /Mo
      2,350 SF

      Stand Alone Office Building

      Stand alone office building in rapidly growing area for lease.
      145 Lee St, Holly Ridge, NC 28445
      View Details
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    116 Shr Dr
    Surf City, NC 28445-6670
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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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