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    Property profile & analytics

    166 Caratoke Hwy Moyock, NC 27958-8622

    • Retail space
    • 19,152 SF
    • 3.60 lot acres
    OFF-MARKET
    Last Sale
    Oct 04, 2021
    $4,803,600
    Value Estimations
    $5,105,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-0164067
    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

    • Tractor Supply Co. / Home Improvement Store / Pet Store

    Property Details for 166 Caratoke Hwy

    Year built
    2021
    Lot size
    3.60 lot acres
    Property size
    19,152 SF
    Property type
    Retail space
    APN
    0009000079C0000
    APU
    0009000079C0000

    Description

    This exceptional 3.26-acre commercial land parcel, located at 166 Caratoke Hwy in Moyock, North Carolina (zip code 27958), presents a unique investment opportunity. Priced at $850,000, this property boasts a substantial 142,005 square feet of land, offering a price per acre ranging from $225,000 to $260,000. Situated in a rapidly developing area with high traffic counts, this lot is ideally suited for a variety of commercial ventures. The property is zoned for commercial use and offers over 400 feet of frontage on Highway 168, ensuring excellent visibility and accessibility. County water is available. This parcel is a subdivision of a larger tract, originally 6.88 acres, from which Tractor Supply recently purchased land and is currently under construction. The seller is open to further subdividing the property into parcels of approximately 1 or 2 acres, providing flexibility for various development plans. Importantly, the zoning specifically prohibits residential or storage uses. This prime location, coupled with its size and accessibility, makes this property an attractive investment for developers seeking to capitalize on the growing commercial needs of the Moyock area. The property is held under simple ownership.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $5,105,000
      ML approach
      $5,530,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $5,270,000
      Market price range: $2.60M - $5.27M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $3,625,000
      Current use
      COMMERCIAL (GENERAL)
      $4,135,000
      Change: +14% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Moyock
    County
    Currituck
    State
    North Carolina
    Longitude
    -76.1908
    Latitude
    36.5462
    CBSA code
    47260
    CBSA name
    VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-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
    2023
    $18,935
    $575,000
    $2,718,000
    $3,293,000
    -
    $575,000
    $2,718,000
    $3,293,000

    Comparable in this City

    • Value Estimation by Request
      2,352 SF

      102 Snowden Rd

      RETAIL STORES (PERSONAL SERVICES) • 2,352 SF
      102 Snowden Rd, Moyock, NC 27958-9629
      View Details
    • Value Estimation by Request
      3,342 SF

      101 Oak St

      RETAIL STORES (PERSONAL SERVICES) • 3,342 SF
      101 Oak St, Moyock, NC 27958-9357
      View Details
    • Value Estimation by Request
      2,380 SF

      2132 Caratoke Hwy

      RETAIL STORES (PERSONAL SERVICES) • 2,380 SF
      2132 Caratoke Hwy, Moyock, NC 27958-9737
      View Details
    • Value Estimation
      $1,425,000
      6,958 SF

      107 Currituck Commerical Dr

      RETAIL STORES (PERSONAL SERVICES) • 6,958 SF
      107 Currituck Commerical Dr, Moyock, NC 27958-9070
      View Details
    • Value Estimation by Request
      4,800 SF

      570 Caratoke Hwy

      RETAIL STORES (PERSONAL SERVICES) • 4,800 SF
      570 Caratoke Hwy, Moyock, NC 27958-8809
      View Details
    • Value Estimation by Request
      2,280 SF

      2138 Caratoke Hwy

      RETAIL STORES (PERSONAL SERVICES) • 2,280 SF
      2138 Caratoke Hwy, Moyock, NC 27958-9737
      View Details

    Similar Nearby for Sale

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      2.5 Acre Commercial Investment Opportunity

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      Heavy industrial zoned land in booming Moyock, North Carolina.
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      Moyock NC Heavy Industrial Land

      Heavy industrial land in booming Moyock, NC with highway access.
      Tbd Windchaser Way, Moyock, NC 27958
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    • $795,000
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      Moyock Commercial Land Opportunity

      Prime commercial land in a rapidly growing North Carolina county.
      320 Survey Rd, Moyock, NC 27958
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    • $438,000
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      Commercial Land on Caratoke Highway

      1.2 acre commercial land for sale in Moyock, North Carolina.
      365 Caratoke Hwy, Moyock, NC 27958
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    • $899,900
      17.95 Acres

      Moyock Land For Sale

      17+ acres in Moyock, near VA border, zoned General Business.
      Caratoke Hwy, Moyock, NC 27958
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      7,500 SF

      Retail Space Near Starbucks

      Retail space for lease near high-traffic highway and popular businesses.
      Caratoke Hwy, Moyock, NC 27958
      View Details
    • Contact for pricing
      1 SF

      Moyock Commercial Land Opportunity

      3.75 Acres, High Visibility, NC
      369-385 Caratoke Hwy, Moyock, NC 27958
      View Details
    • $1,650 /Mo
      1,190 SF

      Highway 168 Office Space

      Office space for lease in prime Moyock location.
      111 Currituck Commercial Dr, Moyock, NC 27958
      View Details
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    166 Caratoke Hwy
    Moyock, NC 27958-8622
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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.

    More about this property
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