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Property profile & analytics
OFF-MARKET
Estimated value
$525,000
Office Spaces
2 Merchants Rowh, Bald Head Island, NC 28461-5075
Individually Owned
Free & Clear
Property ID
US53-3907284
Property profile
Verified
Property type
Office Spaces
Use group
CONDOMINIUM OFFICES
Year built
2006
Total area
1,160 SF
APN
2642L021
UPID
US53-3907284
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
$525k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$387k
Blend (final)
Blend
$525k
Owner & transaction history
Johnson Vance
Johnson Vance
since 2026
Last sale
$525,000
7 recorded transactions
Zoning & alternative use
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 Bald Head Island submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Bald Head Island 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
$525,000
ML approach
$525,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$525k
Range $473k – $578k · ±10% · vs last sale $525k (Jan 8 2026)
Last sale anchor
$525k
Jan 8 2026
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
$453 / 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
$277,380
Assessed 2023
Previous assessed
$140,290
+97.7% YoY
Assessed improvement
$277,380
Improvement market value
$277,380
Total market value
$277,380
Applied tax rate
17.0000
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
Office Spaces
Use group
CONDOMINIUM OFFICES
Status
Off-Market
Year built
2006
Heating
HEAT PUMP
Cooling
CENTRAL
Bathrooms
1
Total area
1,160 SF
APN
2642L021
UPID
US53-3907284
Jurisdiction
BRUNSWICK
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
2006
Heating
HEAT PUMP
Cooling
Yes
Bathrooms
1
Current owner
From public records · entity-resolved
Johnson Vance
Individual
Free & Clear · 0 yrs held
Mailing address
PO BOX 3322, BALD HEAD ISLAND, NC 28461-7003
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 17, 2026
$725,000
Johnson Vance
Henson Thomas
Warranty Deed
—
Jan 8, 2026
$525,000
Ijh Investments LLC
Pebble Beach Holdings LLC
Warranty Deed
—
Dec 5, 2024
$525,000
Thomas S Henson
Brandy Munroe
Warranty Deed
—
Mar 5, 2024
—
Milweb LLC
—
Deed
related
$216,000 · First Bank
Dec 20, 2023
$270,000
Milweb LLC
Jlt Holdings LLC
Warranty Deed
—
Jun 2, 2022
$300,000
Island Time Equities LLC
Vera Almond
Warranty Deed
$125,000 · Fred Mcwhorter
Nov 21, 2019
$245,000
Pebble Beach Holdings LLC
Jean Berne Bullie
Warranty Deed
$208,250 · South State Bank
Jun 6, 2019
—
Vera Almond
Almond,charles E
Quitclaim Deed
related
—
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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