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Property profile & analytics
OFF-MARKET
Estimated value
$895,000
Office buildings
1123 Howe St Southport, NC 28461-3041
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US53-5690858
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Year built
2004
Total area
2,584 SF
Zoning code
BD
APN
237DA012
UPID
US53-5690858
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
$895k
CAP Approach
CAP
$540k
Comparable Approach
Comparable
$899k
Blend (final)
Blend
$895k
Owner & transaction history
Tsa Rentals LLC · 2 yrs held
Tsa Rentals LLC
since 2024
Last sale
$893,000
3 recorded transactions
Zoning & alternative use
BD · Southport, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
Change of Use or Redevelopment in the BD District A change of use or redevelopment whereby the floor area of the building or parcel is not expanded by greater than 25%. No parking required. Change of use or redevelopment whereby the floor area of the building or parcel is expanded by greater than 25%. Additional parking required shall be calculated based on…
Zone name
Business District
General category
COMMERCIAL
Zone area
234.43 ac
Source
2021 0708 Southport UDO Full
Top alternative use upside
Retail stores
$695,000
+1.3%
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 Southport submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Southport 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
$895,000
ML approach
$895,000
CAP Approach
CAP Return
Estimation
6%
$585,000
6.5%
$540,000
7%
$500,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$685,000
Current use
RETAIL STORES
$695,000
Change: +1% · Conversion: Moderate
Blend value · Realmo final
$895k
Range $806k – $985k · ±10% · vs last sale $893k (Jan 24 2024)
Last sale anchor
$893k
Jan 24 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
$346 / 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
Property tax & assessments
Assessed value
$644,750
Assessed 2023
Previous assessed
$573,480
+12.4% YoY
Assessed land
$328,600
Assessed improvement
$316,150
Land market value
$328,600
Improvement market value
$316,150
Total market value
$644,750
Applied tax rate
21.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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
Office buildings
Use group
PROFESSIONAL BUILDING
Status
Off-Market
Year built
2004
Heating
HEAT PUMP
Cooling
CENTRAL
Stories
1
Bathrooms
2
Total area
2,584 SF
Zoning code
BD
APN
237DA012
UPID
US53-5690858
Jurisdiction
BRUNSWICK
Zoning & alternative use
BD · Southport, NCZoning BD · permitted uses
BD · Southport, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
Change of Use or Redevelopment in the BD District A change of use or redevelopment whereby the floor area of the building or parcel is not expanded by greater than 25%. No parking required. Change of use or redevelopment whereby the floor area of the building or parcel is expanded by greater than 25%. Additional parking required shall be calculated based on the increase in square footage in floor area, above the 25% threshold, of the expanded building. All other applicable requirements of this section shall apply. Change of use from a residential to nonresidential use. 50% of the required parking shall be provided. All other applicable requirements of this section shall apply. Change of use from a nonresidential to residential use or the addition of residential uses. Full compliance with residential off-street parking space minimum and all other requirements. Uses Required Parking Residential Uses DWELLING, SINGLE-FAMILY, MANUFACTURED HOME ON SINGLE LOT, MODULAR HOMES Two (2) spaces per dwelling unit. Nonconforming lots within the
Zone name
Business District
General category
COMMERCIAL
Zone area
234.43 ac
Source
2021 0708 Southport UDO Full
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$685,000
RETAIL STORES
Est. value
$695,000
OFFICE BUILDING Current
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
HEAT PUMP
Cooling
Yes
Stories
1
Bathrooms
2
Current owner
From public records · entity-resolved
Tsa Rentals LLC
Entity
Mailing address
1626 S MADISON ST, WHITEVILLE, NC 28472-4947
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 24, 2024
$893,000
Tsa Rentals LLC
Menton Padgett H
Warranty Deed
$722,500 · First Palmetto Bank
Aug 1, 2004
—
H Menton Etal Padgett
Owner Name Unavailable
Warranty Deed
related
—
—
—
H Menton Padgett
—
Deed Of Trust
related
$365,000 · First Community Bank
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.
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