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Property profile & analytics
OFF-MARKET
Estimated value
$1,795,000
Retail space
1609 Howe St, Southport, NC 28461-8905
Individually Owned
14-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US53-0825434
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1970
Total area
11,840 SF
Lot
5.5 ac (239,580 SF)
Zoning code
HC
APN
221MA036
UPID
US53-0825434
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.80M
Comparable Approach
Comparable
$2.26M
Blend (final)
Blend
$1.80M
Owner & transaction history
Builders Firstsource-southeast · 14 yrs held
Builders Firstsource-southeast
since 2012
1 recorded transaction
Zoning & alternative use
HC · Southport, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Southport submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Southport 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%
$1,950,000
6.5%
$1,800,000
7%
$1,670,000
Blend value · Realmo final
$1.80M
Range $1.62M – $1.97M · ±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
$152 / 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
Property tax & assessments
Assessed value
$1,517,110
Assessed 2023
Previous assessed
$1,377,660
+10.1% YoY
Assessed land
$1,108,800
Assessed improvement
$408,310
Land market value
$1,108,800
Improvement market value
$408,310
Total market value
$1,517,110
Applied tax rate
21.0000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1970
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Bathrooms
2
Total area
11,840 SF
Lot
5.5 ac (239,580 SF)
Zoning code
HC
APN
221MA036
UPID
US53-0825434
Jurisdiction
BRUNSWICK
Zoning & alternative use
HC · Southport, NC
Zoning HC · permitted uses
HC · Southport, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Southport. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1970
Heating
FORCED AIR
Cooling
Yes
Stories
1
Bathrooms
2
Lot
5.5 ac
Current owner
From public records · entity-resolved
Builders Firstsource-southeast
Individual
Mailing address
2001 BRYAN ST STE #1600, DALLAS, TX 75201-3017
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2012
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 1, 2012
—
Builders Firstsource-southeast
—
Deed Of Trust
related
$160,000,000 · Highbridge Principal Strategie
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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