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Property profile & analytics
FOR LEASE
Commercial real estate
1139 N Bragg Blvd, Spring Lake, NC 28390
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US53-1753332
For Lease
1 / 4
$8 SF/Yr
1139 N Bragg Blvd, Spring Lake, NC 28390
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Property summary
AI-generated overview
Southwind Plaza, a Fayetteville, Cumberland County retail center, offers exceptional leasing opportunities. This 51,660 square foot property, situated on a 14.3-acre lot and built in 1989, is zoned CP. The center boasts a strong tenant mix including Compare Foods, HR Block, Brooklyn Pizza, and Rimtyme, ensuring high foot traffic and visibility. Available spaces range from a minimum of 230 square feet to a maximum contiguous space of 8,200 square feet, with a total of 14,020 square feet currently vacant. Units feature central air and heating. Recent improvements include a fresh coat of paint on the building, a restriped parking lot, and new canopies, enhancing the overall appeal and functionality of the property. The center's location in the Fayetteville submarket positions businesses for success within a vibrant commercial environment. This is an ideal location for businesses seeking a well-maintained and strategically located space in a thriving retail center. The property is ready for immediate occupancy.
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1989
Total area
51,660 SF
Lot
14.3 ac (622,908 SF)
Zoning code
CP
APN
0502-40-8909
UPID
US53-1753332
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
Current use
Occupant on record · Public records
-
Cool Kidz Frozen Treats Grocery & Convenience Store Specialty Food Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$9.28M
CAP Approach
CAP
$9.44M
Comparable Approach
Comparable
$10.63M
Blend (final)
Blend
$9.60M
Owner & transaction history
Ocean Bay Southwind Plaza LLC · 3 yrs held
Ocean Bay Southwind Plaza LLC
since 2023
Last sale
$8.3M
4 recorded transactions
Zoning & alternative use
CP · Spring Lake, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$10.2M
+75.2%
Medical building
$8.8M
+50.0%
Office building
$8.1M
+38.4%
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 Spring Lake submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Spring Lake 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
$10,625,000
ML approach
$9,280,000
CAP Approach
CAP Return
Estimation
6%
$10,230,000
6.5%
$9,440,000
7%
$8,765,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$5,845,000
Current use
RESTAURANT
$10,235,000
Change: +75% · Conversion: Difficult
MEDICAL BUILDING
$8,765,000
Change: +50% · Conversion: Easy
OFFICE BUILDING
$8,090,000
Change: +38% · Conversion: Easy
AUTO REPAIR, GARAGE
$7,830,000
Change: +34% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$6,815,000
Change: +17% · Conversion: Difficult
RETAIL STORES
$6,140,000
Change: +5% · Conversion: Easy
Blend value · Realmo final
$9.60M
Range $8.64M – $10.56M · ±10% · vs last sale $8.30M (Mar 17 2023)
Last sale anchor
$8.30M
Mar 17 2023
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
$186 / 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 2019Property tax & assessments
Tax year 2019
Tax billed
$142,476
Tax year 2019
Assessed value
$6,808,553
Assessed 2023
Previous assessed
$6,808,553
+0.0% YoY
Effective rate
2.09%
On assessed value
Assessed land
$1,050,119
Assessed improvement
$5,758,434
Land market value
$1,050,119
Improvement market value
$5,758,434
Total market value
$6,808,553
Applied tax rate
3,000.0000
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
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
For Lease
Year built
1989
Heating
NONE
Buildings
3
Stories
1
Bathrooms
52
Total area
51,660 SF
Lot
14.3 ac (622,908 SF)
Zoning code
CP
APN
0502-40-8909
UPID
US53-1753332
Jurisdiction
CUMBERLAND
Zoning & alternative use
CP · Spring Lake, NC
Zoning CP · permitted uses
CP · Spring Lake, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Spring Lake. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$5.8M
RESTAURANT
Est. value
$10.2M
MEDICAL BUILDING
Est. value
$8.8M
OFFICE BUILDING
Est. value
$8.1M
AUTO REPAIR, GARAGE
Est. value
$7.8M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$6.8M
RETAIL STORES
Est. value
$6.1M
COMMERCIAL (GENERAL) Current
RESTAURANT
MEDICAL BUILDING
OFFICE BUILDING
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
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
1989
Heating
NONE
Stories
1
Buildings
3
Bathrooms
52
Lot
14.3 ac
Current owner
From public records · entity-resolved
Ocean Bay Southwind Plaza LLC
Entity
Mailing address
4575 POST AVE, MIAMI BEACH, FL 33140-3035
Ownership since
2023
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
Jun 13, 2023
—
Amy Frazey
—
Deed
related
—
Mar 17, 2023
$8,300,000
Ocean Bay Southwind Plaza LLC
Southwind Plaza Associates LLC
Special Warranty Deed
$581,000 · Wells Fargo Bank NA
Mar 17, 2023
—
Ocean Bay Southwind Plaza LLC
Southwind Plaza Associates LLC
Intrafamily Transfer
related
$581,000 · Wells Fargo Bank NA
Nov 17, 2006
—
Southwind Plaza Associates LLC
—
Deed Of Trust
related
$5,000,000 · Standard Insurance Co
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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