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

    1323 Elmers SW Dr Shallotte, NC 28470-5706

    • Garden apartment buildings
    • 924 SF
    • 0.45 lot acres
    OFF-MARKET
    Last Sale
    Nov 10, 2021
    $185,000
    Value Estimations
    $235,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-5660466
    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 1323 Elmers SW Dr

    Year built
    1999
    Lot size
    0.45 lot acres
    Property size
    924 SF
    Zone code
    R60
    Property type
    Garden apartment buildings
    APN
    2140001405
    APU
    2140001405

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $255,000
      ML approach
      $250,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $176,000
      Market price range: $102k - $177k
      AI Estimate
      $287,000
      Market price range: $172k - $287k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $225,000
      OFFICE BUILDING
      $175,000
      AUTO REPAIR, GARAGE
      $160,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Shallotte
    County
    Brunswick
    State
    North Carolina
    Longitude
    -78.3617
    Latitude
    33.9419
    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
    $92,500
    $86,700
    $179,200
    -
    $92,500
    $86,700
    $179,200

    Comparable in this City

    • Value Estimation
      $320,000
      938 SF

      206 High Hl SW Dr

      GARDEN APT, COURT APT (5+ UNITS) • 938 SF
      206 High Hl SW Dr, Shallotte, NC 28470-1726
      View Details
    • Value Estimation
      $110,000
      924 SF

      375 High Hl SW Dr

      GARDEN APT, COURT APT (5+ UNITS) • 924 SF
      375 High Hl SW Dr, Shallotte, NC 28470-1719
      View Details
    • Value Estimation
      $235,000
      960 SF

      4342 Jim SW St

      GARDEN APT, COURT APT (5+ UNITS) • 960 SF
      4342 Jim SW St, Shallotte, NC 28470
      View Details
    • Value Estimation by Request
      1,064 SF

      2984 Mars SW Dr

      GARDEN APT, COURT APT (5+ UNITS) • 1,064 SF
      2984 Mars SW Dr, Shallotte, NC 28470-5768
      View Details
    • Value Estimation
      $935,000
      42,817 SF

      4580 White St, Unit 1

      GARDEN APT, COURT APT (5+ UNITS) • 42,817 SF
      4580 White St, Shallotte, NC 28470-4564
      View Details
    • Value Estimation
      $270,000
      768 SF

      2938 Bird SW Dr

      GARDEN APT, COURT APT (5+ UNITS) • 768 SF
      2938 Bird SW Dr, Shallotte, NC 28470-5847
      View Details

    Similar Nearby for Sale

    • $1,275,000

      Shallotte Development Opportunity: 64 Units

      Shovel-ready 64-unit development site in a rapidly growing area.
      98 Wildwood St, Shallotte, NC 28470
      View Details
    • $425,000

      Shallotte Mobile Home Community

      Mobile home community with income-producing units in Shallotte, NC.
      207 Edgewater Dr SW, Shallotte, NC 28470
      View Details
    • $2,500,000
      16.30 Acres

      Shallotte, NC Development Land

      16.3 Acres, Prime Location, 228 Units Possible
      0 Highlands Glen Dr, Shallotte, NC 28470
      View Details
    • $110,000
      0.46 Acres

      Residential Land in River's Edge

      Land in sought-after community near Shallotte River and beaches.
      2108 Arnold Palmer Dr, Shallotte, NC 28470
      View Details
    • $39,500

      Shallotte Land Parcel Available

      Half-acre lot near Shallotte and beaches, with existing septic.
      2841 Flamingo Dr, Shallotte, NC 28470
      View Details
    • $734,730

      36.94 Acres in Brierwood Estates

      Land opportunity in rapidly growing Shallotte, close to beaches.
      Brierwood Rd SW, Shallotte, NC 28470
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      188,388 SF

      Coastal Walk Retail Center

      Shallotte, NC: Prime Retail Space Available
      0 Smith Ave & Main St, Shallotte, NC 28470
      View Details
    • $2,678 /Mo
      1,680 SF

      Prime Shallotte Warehouse/Commercial Space

      1,680 sq ft Industrial Building, High Visibility
      701 Holden Beach Rd, Shallotte, NC 28470
      View Details
    • $16,800 /Mo
      1,500 SF

      Renovated Retail Space in Shallotte

      Recently renovated retail space in the heart of Shallotte, North Carolina.
      121 Holden Beach Rd SW, Shallotte, NC 28470
      View Details
    • Contact for pricing
      151,242 SF

      Shallotte Crossing Executive Suites

      Prime Brunswick County Office Space
      130 Shallotte Crossing Pkwy, Shallotte, NC 28470
      View Details
    • Contact for pricing

      Prime Highway Frontage Land

      Located on US-17, ideal for various commercial uses.
      Shallotte, NC 28470
      View Details
    • Contact for pricing
      2,400 SF

      Retail Space in Shallotte, NC

      Retail space in regional hub near beach towns.
      135 Smith Ave, Shallotte, NC 28470
      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.
    1323 Elmers SW Dr
    Shallotte, NC 28470-5706
    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.