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    1501 Howe St Southport, NC 28461

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    1501 Howe St Southport, NC 28461

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    • Strip malls
    • 6,798 SF
    • 1.44 lot acres
    For Sale
    $800,000
    View Listing →
    Retail Property in Prime Location For Sale
    $800,000
    6,752 SF

    Retail Property in Prime Location

    Prominent retail location with high potential in Southport, North Carolina.

    1501 N Howe Street, Southport, NC 28461
    View Listing
    Property ID
    US53-2212538
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Strip malls

    Property Details for 1501 Howe St

    Year built
    1925
    Lot size
    1.44 lot acres
    Property size
    6,798 SF
    Zone code
    HC
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    221MA03302
    APU
    221MA03302

    Description

    This exceptional commercial property, located at 1501 N Howe Street in the vibrant town of Southport, North Carolina, presents a unique investment opportunity. Boasting a substantial 6,752 square feet of space, this general commercial building sits on a generous 1.37-acre lot, offering ample room for expansion, parking, or outdoor activities. The property's prime location in Southport provides excellent visibility and accessibility, making it ideal for a wide range of commercial ventures. The building's substantial size allows for diverse configurations to suit various business needs, from retail spaces to offices or light industrial uses. The expansive lot provides significant potential for future development or simply offers generous space for current operations. This property is priced competitively at $800,000, representing a strong value proposition in the thriving Southport market. Its size, location, and versatility make it an attractive investment for discerning buyers seeking a significant presence in this desirable coastal community. Serious inquiries are encouraged to explore the full potential of this exceptional commercial property. The property is ready for immediate occupancy and offers a blank canvas for a new business or expansion of an existing one. Don't miss this chance to secure a prominent location in the heart of Southport.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $780,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Southport
    County
    Brunswick
    State
    North Carolina
    Longitude
    -78.0266
    Latitude
    33.9374
    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
    $588,240
    $15,460
    $603,700
    -
    $588,240
    $15,460
    $603,700

    Comparable in this City

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    • Value Estimation by Request
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      4956 Old Long Bch SE Rd, Unit 12

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    • Value Estimation
      $1,265,000
      35,885 SF

      4891 Long Bch SE Rd

      SHOPPING CENTER, STRIP CENTER • 35,885 SF
      4891 Long Bch SE Rd, Southport, NC 28461-8712
      View Details
    • Value Estimation
      $4,340,000
      52,178 SF

      5011 Southport Xing Way

      SHOPPING CENTER, STRIP CENTER • 52,178 SF
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      View Details
    • Value Estimation
      $505,000
      3,680 SF

      3156 George Ii Hwy Ste, Unit 1

      SHOPPING CENTER, STRIP CENTER • 3,680 SF
      3156 George Ii Hwy Ste, Southport, NC 28461-9723
      View Details
    • Value Estimation by Request
      6,581 SF

      3481 George Ii Hwy, Unit 1

      SHOPPING CENTER, STRIP CENTER • 6,581 SF
      3481 George Ii Hwy, Southport, NC 28461-2307
      View Details

    Similar Nearby for Sale

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      Iconic Oak Island Mixed-Use Property

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      Downtown Southport Mixed-Use Investment

      Fully leased mixed-use building in Southport, North Carolina.
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      Historic Southport Mixed-Use Property

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    Similar Nearby for Lease

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      1,200 SF

      Retail Space in Southport Center

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      View Details
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      Commercial Land For Ground Rent

      1.07 acre commercial land for rent at signalized intersection.
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      View Details
    • $900 /Mo
      9,434 SF

      Southport Co-Working and Office Space

      Flexible co-working and private office solutions available for rent.
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      View Details
    • Contact for pricing

      Southport Yard Space For Lease

      Yard space available for lease in Southport, North Carolina.
      3846 George Ii Hwy, Southport, NC 28461
      View Details
    • Contact for pricing

      Southport Commercial Tract For Rent

      Commercial tract for rent in Southport, North Carolina.
      4006 St James Dr Southeast, Southport, NC 28461
      View Details
    View Listing
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    1501 Howe St
    Southport, NC 28461
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    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.

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    1501 Howe St, Southport, NC, 28461

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