New search
Property profile & analytics
OFF-MARKET
Estimated value
$2,610,000
Warehouses
1099 Driftwood Dr, Manteo, NC 27954
Entity Owned
1-yr Hold
Absentee Owner
Free & Clear
Property ID
US53-3554232
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
2004
Total area
15,060 SF
Lot
5.32 ac (231,739 SF)
APN
25252000
UPID
US53-3554232
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.61M
CAP Approach
CAP
$1.97M
Comparable Approach
Comparable
$2.99M
Blend (final)
Blend
$2.61M
Owner & transaction history
Dare County Airport Authority · 1 yrs held
Dare County Airport Authority
since 2024
Last sale
$2.6M
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$3.6M
+117.8%
Retail stores
$2.8M
+69.4%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Manteo submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Manteo submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$2,610,000
ML approach
$2,610,000
CAP Approach
CAP Return
Estimation
6%
$2,135,000
6.5%
$1,970,000
7%
$1,830,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$1,640,000
Current use
OFFICE BUILDING
$3,575,000
Change: +118% · Conversion: Difficult
RETAIL STORES
$2,780,000
Change: +69% · Conversion: Moderate
Blend value · Realmo final
$2.61M
Range $2.35M – $2.87M · ±10% · vs last sale $2.61M (Aug 14 2024)
Last sale anchor
$2.61M
Aug 14 2024
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$173 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$11,237
Tax year 2024
Assessed value
$2,033,400
Assessed 2024
Previous assessed
$2,033,400
+0.0% YoY
Effective rate
0.55%
On assessed value
Assessed land
$285,900
Assessed improvement
$1,747,500
Land market value
$285,900
Improvement market value
$1,747,500
Total market value
$2,033,400
Applied tax rate
11.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
2004
Heating
NONE
Stories
1
Total area
15,060 SF
Lot
5.32 ac (231,739 SF)
APN
25252000
UPID
US53-3554232
Jurisdiction
DARE
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$1.6M
OFFICE BUILDING
Est. value
$3.6M
RETAIL STORES
Est. value
$2.8M
WAREHOUSE, STORAGE Current
OFFICE BUILDING
RETAIL STORES
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2004
Heating
NONE
Stories
1
Lot
5.32 ac
Current owner
From public records · entity-resolved
Dare County Airport Authority
Entity
Free & Clear · 1 yrs held
Mailing address
410 AIRPORT RD, MANTEO, NC 27954-9110
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 14, 2024
$2,608,500
Dare County Airport Authority
City Beverage Company INC
Warranty Deed
—
May 27, 2022
—
City Beverage Company INC
—
Deed
related
$300,000 · Townebank
Jun 2, 2021
—
City Beverage Company INC
—
Deed
related
$352,800 · Townebank
Sep 26, 2017
—
City Beverage Company INC
—
Deed
related
$500,000 · Townebank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 1099 Driftwood Dr?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
