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Property profile & analytics
OFF-MARKET
Estimated value
$5,550,000
Strip malls
1328 Lk Park N Blvd, Carolina Beach, NC 28428-3935
Entity Owned
13-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US53-0117758
Property summary
AI-generated overview
This exceptional Class A commercial property, located at 1328 N Lake Park Blvd in Carolina Beach, NC 28428, offers 22,222 square feet of versatile space. Built in 2005, this single-story building features 16-foot ceilings and boasts a diverse range of uses, including medical, creative, and executive office spaces, along with retail and restaurant possibilities. The property includes 10 suites, with a minimum divisible space of 500 square feet and a maximum contiguous space of 2,700 square feet. Currently, 4,700 square feet is available. The 2.8-acre lot provides ample parking with 138 spaces. Conveniently situated near Walgreens, this property benefits from excellent visibility and accessibility, enhanced by multiple ingress and egress points. The zoning is Commercial Highway, within the Wilmington submarket cluster. Annual property taxes are $1 per square foot. Duke Energy provides power. This thriving business center already houses a variety of professionals, including medical practitioners, a dentist, chiropractor, acupuncturist, therapists, and a bagel shop, creating a vibrant and collaborative environment.
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2004
Construction
STEEL FRAME
Total area
23,378 SF
Lot
2.74 ac (119,354 SF)
Zoning code
HB
APN
R08810-004-027-000
UPID
US53-0117758
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
-
Weckel Chiropractic Alternative Medicine Practice
-
Canvas Giclee Printing (Bike/Boat/Book/etc) Store Printing Service
-
Loralie Grigas, MSW, LCSW, LCAS, PLLC Psychotherapist
-
Damian Brezinski, MD, FACC Physician
-
Carolina Beach Counseling LLC Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$5.51M
Comparable Approach
Comparable
$5.73M
Blend (final)
Blend
$5.55M
Owner & transaction history
Nebo Investment LLC · 13 yrs held
Nebo Investment LLC
since 2013
7 recorded transactions
Zoning & alternative use
HB · Carolina Beach, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$7.8M
+41.3%
Retail stores
$7.5M
+35.5%
Auto repair, garage
$7.5M
+35.2%
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%
$5,965,000
6.5%
$5,505,000
7%
$5,110,000
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$5,530,000
Current use
OFFICE BUILDING
$7,815,000
Change: +41% · Conversion: Moderate
RETAIL STORES
$7,490,000
Change: +35% · Conversion: Easy
AUTO REPAIR, GARAGE
$7,475,000
Change: +35% · Conversion: Difficult
MEDICAL BUILDING
$7,090,000
Change: +28% · Conversion: Difficult
WAREHOUSE, STORAGE
$6,005,000
Change: +9% · Conversion: Difficult
Blend value · Realmo final
$5.55M
Range $5.00M – $6.11M · ±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
$237 / 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
$26,305
Tax year 2023
Assessed value
$3,955,700
Assessed 2023
Previous assessed
$3,955,700
+0.0% YoY
Effective rate
0.66%
On assessed value
Assessed land
$1,274,300
Assessed improvement
$2,681,400
Land market value
$1,274,300
Improvement market value
$2,681,400
Total market value
$3,955,700
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
2004
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Bathrooms
12
Total area
23,378 SF
Lot
2.74 ac (119,354 SF)
Zoning code
HB
APN
R08810-004-027-000
UPID
US53-0117758
Jurisdiction
NEW HANOVER
Zoning & alternative use
HB · Carolina Beach, NC
Zoning HB · permitted uses
HB · 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
$5.5M
OFFICE BUILDING
Est. value
$7.8M
RETAIL STORES
Est. value
$7.5M
AUTO REPAIR, GARAGE
Est. value
$7.5M
MEDICAL BUILDING
Est. value
$7.1M
WAREHOUSE, STORAGE
Est. value
$6.0M
NEIGHBORHOOD: SHOPPING CENTER Current
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
2004
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Bathrooms
12
Lot
2.74 ac
Current owner
From public records · entity-resolved
Nebo Investment LLC
Entity
Mailing address
6911 FINIAN DR, WILMINGTON, NC 28409-2685
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2013
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 15, 2019
—
Nebo Investment LLC
—
Deed
related
$2,808,000 · First Citizens Bk
Mar 19, 2013
$945,000
Nebo Investment LLC
Banc Of America 2007-5
Grant Deed
$650,000 · First Bank
Sep 21, 2012
$2,390,000
Wells Fargo Bank NA 2007-5
Stephens H Kenneth
Trustees Deed
related
—
Apr 18, 2007
$5,700,000
Pavilion Ptrs Of Carolina Beach L
Pavilion Of Carolina Beach LLC
Warranty Deed
related
$4,500,000 · Bridger Commercial Funding LLC
—
—
Nebo Investment LLC
—
Deed Of Trust
related
$1,312,500 · Branch Bk&tr
—
—
Nebo Investment LLC
—
Deed Of Trust
related
$2,808,000 · First Citizens Bk
—
—
Pavilion At Carolina Beach LLC
—
Deed Of Trust
related
$200,000 · Branch Banking & Trust 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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