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Property profile & analytics
OFF-MARKET
Estimated value
$2,500,000
Hotels
216 Islander Dr, Emerald Isle, NC 28594-2429
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US53-2640114
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
2018
Construction
STEEL FRAME
Total area
7,304 SF
Lot
1.08 ac (47,219 SF)
Zoning code
RB3
APN
5383.10.46.4795000
UPID
US53-2640114
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
-
ChargePoint Charging Station Electric Vehicle Charging Station
-
Lighthouse Suites - Best Western Signature Collection Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.48M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.50M
Owner & transaction history
Sitaram Hospitality LLC · 5 yrs held
Sitaram Hospitality LLC
since 2021
Last sale
$2.6M
2 recorded transactions
Zoning & alternative use
RB3 · Emerald Isle, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.8M
+147.3%
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 Emerald Isle submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Emerald Isle 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
$2,425,000
ML approach
$2,475,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,840,000
Change: +147% · Conversion: Difficult
Blend value · Realmo final
$2.50M
Range $2.25M – $2.75M · ±10% · vs last sale $2.55M (Jan 7 2021)
Last sale anchor
$2.55M
Jan 7 2021
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
$342 / 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 2022Property tax & assessments
Tax year 2022
Tax billed
$11,108
Tax year 2022
Assessed value
$2,287,142
Assessed 2024
Previous assessed
$2,287,142
+0.0% YoY
Effective rate
0.49%
On assessed value
Assessed land
$542,000
Assessed improvement
$1,745,142
Land market value
$542,000
Improvement market value
$1,745,142
Total market value
$2,287,142
Applied tax rate
1,556.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Hotels
Use group
HOTEL
Status
Off-Market
Year built
2018
Construction
STEEL FRAME
Heating
HEAT PUMP
Stories
3
Total area
7,304 SF
Lot
1.08 ac (47,219 SF)
Zoning code
RB3
APN
5383.10.46.4795000
UPID
US53-2640114
Jurisdiction
CARTERET
Zoning & alternative use
RB3 · Emerald Isle, NC
Zoning RB3 · permitted uses
RB3 · Emerald Isle, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Emerald Isle. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL)
Est. value
$1.8M
COMMERCIAL (GENERAL)
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
2018
Construction
STEEL FRAME
Heating
HEAT PUMP
Stories
3
Lot
1.08 ac
Current owner
From public records · entity-resolved
Sitaram Hospitality LLC
Entity
Mailing address
216 ISLANDER DR, EMERALD ISLE, NC 28594-2429
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 7, 2021
$2,550,000
Sitaram Hospitality LLC
D & L Of Emerald Isle LLC
Warranty Deed
$2,100,000 · Providence Bank
Jan 17, 2018
—
D & L Of Emerald Isle LLC
—
Trustees Deed
related
$1,890,000 · Branch Bk&tr
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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