118 1st St Spring Lake, NC 28390-3300
CB-This conventional zoning district is intended to preserve and enhance the original downtown area as a compact, viable and con venient location for a wide variety of commercial and office uses. Residential uses are permitted only in conjunction with a mixed use building or mixed use development, and shall be located to the rear or on the second floor of or…
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2019Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
CB · Spring Lake, NCCB-This conventional zoning district is intended to preserve and enhance the original downtown area as a compact, viable and con venient location for a wide variety of commercial and office uses. Residential uses are permitted only in conjunction with a mixed use building or mixed use development, and shall be located to the rear or on the second floor of or above any structure. To preserve the compactness of the area and to lessen c ongestion the display, sales and storage of goods is conducted entirely within enclosed buildings. The yard requirements are based generally on the pattern of existing development so as to minimize dimensional disparities and to preserve the continued usefulness and essential character of the existing buildings l ocated in the downtown area. In order to promote coordination and the compatible intermixture or residential and commercial development, this district is a planned district and site plan review is required for every development, re-development or change-in-use. [Note: Mixed use buildings and mixed use developments are currently allowed in the Spring Lake ordinance.] Town of Spring Lake O&I-This conventional zoning district is designed primarily for agencies and offices rendering specialized services in the profes sions, finance, real estate and brokerage as well as the traditional institutional functions both public and private, public assembly, religious and certain cultural recreational activities and group housing. The uses in this district classification may be characterized as having no retail or wholesale trade, except as incidental use. The district is normally small and often situated between business and residential areas. The regulations are designed for maintaining more compatibility wi th nearby residential districts than would exist with a commercial district. Cumberland County O&I(P)-This district is designed primarily for agencies and offices rendering services in the professions, finance, real estate and brokerage, as well as both public and private institutional functions, public assembly, religious and certain cultural and recreational activities and g roup housing. The uses in this district classification may be characterized generally as having no retail or wholesale trade, except as incidental uses. The district is often situated between business and residential areas and may also consist of a mix of limited business and residential uses. The regulations are designed for ma intaining more compatibility with nearby residential districts than a commercial district would provide.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.