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Property profile & analytics
OFF-MARKET
Estimated value
$2,220,000
Strip malls
12 Carolina Bch N Ave, Carolina Beach, NC 28428
Entity Owned
20-yr Hold
Absentee Owner
Free & Clear
Property ID
US53-0926739
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1941
Construction
WOOD FRAME
Total area
8,136 SF
Lot
0.31 ac (13,460 SF)
Zoning code
CBD,CENTRAL BUS DIST
APN
R09006-008-002-000
UPID
US53-0926739
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
-
Beach Bunny Ice Cream & Coffee Grocery & Convenience Store Specialty Food Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.92M
Comparable Approach
Comparable
$2.44M
Blend (final)
Blend
$2.22M
Owner & transaction history
Cape Fear Investments LLC · 20 yrs held
Cape Fear Investments LLC
since 2006
3 recorded transactions
Zoning & alternative use
CBD,CENTRAL BUS DIST · Carolina Beach, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$3.3M
+72.3%
Office building
$2.7M
+41.3%
Retail stores
$2.6M
+35.5%
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 Carolina Beach submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Carolina Beach 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$2,075,000
6.5%
$1,915,000
7%
$1,780,000
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$1,925,000
Current use
RESTAURANT
$3,315,000
Change: +72% · Conversion: Difficult
OFFICE BUILDING
$2,720,000
Change: +41% · Conversion: Moderate
RETAIL STORES
$2,605,000
Change: +35% · Conversion: Easy
AUTO REPAIR, GARAGE
$2,600,000
Change: +35% · Conversion: Difficult
MEDICAL BUILDING
$2,470,000
Change: +28% · Conversion: Difficult
WAREHOUSE, STORAGE
$2,090,000
Change: +9% · Conversion: Difficult
Blend value · Realmo final
$2.22M
Range $2.00M – $2.44M · ±10%
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
$273 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$11,196
Tax year 2023
Assessed value
$1,683,600
Assessed 2023
Previous assessed
$1,683,600
+0.0% YoY
Effective rate
0.67%
On assessed value
Assessed land
$997,200
Assessed improvement
$686,400
Land market value
$997,200
Improvement market value
$686,400
Total market value
$1,683,600
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1941
Construction
WOOD FRAME
Heating
FORCED AIR
Cooling
NONE
Buildings
3
Stories
1
Units
1
Bathrooms
1
Total area
8,136 SF
Lot
0.31 ac (13,460 SF)
Zoning code
CBD,CENTRAL BUS DIST
APN
R09006-008-002-000
UPID
US53-0926739
Jurisdiction
NEW HANOVER
Zoning & alternative use
CBD,CENTRAL BUS DIST · Carolina Beach, NC
Zoning CBD,CENTRAL BUS DIST · permitted uses
CBD,CENTRAL BUS DIST · Carolina Beach, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Carolina Beach. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$1.9M
RESTAURANT
Est. value
$3.3M
OFFICE BUILDING
Est. value
$2.7M
RETAIL STORES
Est. value
$2.6M
AUTO REPAIR, GARAGE
Est. value
$2.6M
MEDICAL BUILDING
Est. value
$2.5M
WAREHOUSE, STORAGE
Est. value
$2.1M
NEIGHBORHOOD: SHOPPING CENTER Current
RESTAURANT
OFFICE BUILDING
RETAIL STORES
AUTO REPAIR, GARAGE
MEDICAL BUILDING
WAREHOUSE, STORAGE
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
1941
Construction
WOOD FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
3
Units
1
Bathrooms
1
Lot
0.31 ac
Current owner
From public records · entity-resolved
Cape Fear Investments LLC
Entity
Free & Clear · 20 yrs held
Mailing address
2501 BLUE RDG RD STE #280, RALEIGH, NC 27607-6367
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2006
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
May 2, 2016
—
Boardwalk Landing LLC
—
Deed
related
$1,425,000 · First Citizens Bk
Feb 13, 2006
—
Cape Fear Investments LLC
Walker,lynda J & Henry R
Grant Deed
related
—
—
—
Boardwalk Landing LLC
—
Deed Of Trust
related
$1,425,000 · First Citizens Bk
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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