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

    1129 Park Rd Sunset Beach, NC 28468

    • Garden apartment buildings
    • 1,264 SF
    OFF-MARKET
    Value Estimations
    $245,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-0902940
    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

    • Garden apartment buildings

    Property Details for 1129 Park Rd

    Year built
    1998
    Property size
    1,264 SF
    Zone code
    MH1
    Property type
    Garden apartment buildings
    APN
    256DD003
    APU
    256DD003

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $275,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $218,000
      Market price range: $174k - $273k
      AI Estimate
      $303,000
      Market price range: $259k - $360k

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $225,000
      Current use
      RETAIL STORES
      $310,000
      Change: +39% Conversion: Difficult
      OFFICE BUILDING
      $240,000
      Change: +8% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $220,000
      Change: -2% Conversion: Difficult
      WAREHOUSE, STORAGE
      $205,000
      Change: -8% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Sunset Beach
    County
    Brunswick
    State
    North Carolina
    Longitude
    -78.4909
    Latitude
    33.8896
    CBSA code
    34820
    CBSA name
    MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-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
    $45,000
    $92,360
    $137,360
    -
    $45,000
    $92,360
    $137,360

    Comparable in this City

    • Value Estimation
      $245,000
      924 SF

      602 Dogwood Dr

      GARDEN APT, COURT APT (5+ UNITS) • 924 SF
      602 Dogwood Dr, Sunset Beach, NC 28468
      View Details
    • Value Estimation
      $255,000
      1,152 SF

      8940 Heritage SW Dr

      GARDEN APT, COURT APT (5+ UNITS) • 1,152 SF
      8940 Heritage SW Dr, Sunset Beach, NC 28468
      View Details
    • Value Estimation
      $265,000
      1,140 SF

      524 Live Oak Dr

      GARDEN APT, COURT APT (5+ UNITS) • 1,140 SF
      524 Live Oak Dr, Sunset Beach, NC 28468-4285
      View Details
    • Value Estimation
      $240,000
      1,362 SF

      720 Sunset Lks SW Blvd

      GARDEN APT, COURT APT (5+ UNITS) • 1,362 SF
      720 Sunset Lks SW Blvd, Sunset Beach, NC 28468-4904
      View Details
    • Value Estimation
      $280,000
      1,104 SF

      214 Magnolia Dr

      GARDEN APT, COURT APT (5+ UNITS) • 1,104 SF
      214 Magnolia Dr, Sunset Beach, NC 28468-4227
      View Details
    • Value Estimation
      $275,000
      1,216 SF

      825 Salt Marsh St

      GARDEN APT, COURT APT (5+ UNITS) • 1,216 SF
      825 Salt Marsh St, Sunset Beach, NC 28468-4280
      View Details

    Similar Nearby for Sale

    • $1,975,000
      2,679 SF

      Oceanfront Duplex on Sunset Beach

      Revenue-generating duplex with six bedrooms and six bathrooms on Sunset Beach.
      1816 E Main St E, Sunset Beach, NC 28468
      View Details
    • $1,400,000
      48.00 Acres

      Prime Brunswick County Land

      48 Acres, Mixed-Use Potential
      7436 Ocean Hwy, Sunset Beach, NC 28468
      View Details
    • $674,000
      2,652 SF

      Luxury Townhome with Golf Views

      Exceptional townhome with golf and water views, elevator, and upgrades.
      620 Eastwood Park Rd, Sunset Beach, NC 28468
      View Details
    • $4,688,000
      11.72 Acres

      Large Windsor Warehouse Space

      9,970 SF Industrial Warehouse, Hwy 101 Access
      0 Sunset Blvd, Sunset Beach, NC 28468
      View Details
    • $110,000

      Residential Lot Near Sunset Beach

      Serene cul-de-sac lot near Intracoastal Waterway and Sunset Beach.
      8959 Tranquility Ln, Sunset Beach, NC 28468
      View Details
    • $295,000

      Double Lot Near Sunset Beach

      Large lot near ICW and golf course, close to beach.
      822 Shoreline Dr, Sunset Beach, NC 28468
      View Details

    Similar Nearby for Lease

    • $1,650 /Mo

      Seaside Village Townhouse For Rent

      Unfurnished 2 bedroom townhouse in Seaside Village, close to amenities.
      7620 High Market St, Sunset Beach, NC 28468
      View Details
    • $17 SF/Yr
      26,470 SF

      Prime Medical Office Space in Shallotte

      Class A medical office, 2,680 sq ft available
      690 Sunset Blvd, Sunset Beach, NC 28468
      View Details
    • Contact for pricing

      Retail Hub in Shallotte, NC

      Strategically located retail space serving multiple beach town markets.
      4568 Main St, Shallotte, NC 28468
      View Details
    • $2,411,400

      Calabash Area Retail Investment

      High-traffic, high-visibility retail building in Calabash, North Carolina.
      8900 Old Georgetown Rd Sunset Bch, Calabash, NC 28468
      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.
    1129 Park Rd
    Sunset Beach, NC 28468
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.