Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    218 Charlotte Ave Carolina Beach, NC 28428
    Back to Search
    Property profile & analytics

    218 Charlotte Ave, Carolina Beach, NC 28428

    View on Map
    • Commercial real estate
    • 0.57 lot acres
    Off-Market
    Property ID
    US53-5817603
    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

    • Commercial real estate

    Property Details for 218 Charlotte Ave

    Lot size
    0.57 lot acres
    Property type
    Commercial real estate
    APN
    R09006-025-005-000

    Description

    This exceptional 0.57-acre commercial land parcel, located at 218 Charlotte Avenue in Carolina Beach, North Carolina, presents a unique investment opportunity. The property is zoned MX (Mixed Use), offering versatile development potential within a transitional district designed to bridge intensified commercial areas with residential neighborhoods. This strategic location allows for a blend of uses, including single-family homes, two-family dwellings, and small-scale office or institutional buildings. Currently, an 18-room motel occupies the site, providing immediate income potential or a redevelopment opportunity. The property's address is 218 Charlotte Avenue, Carolina Beach, NC 28428, with APN R09006-025-005-000. The asking price is $4,500,000. This mixed-use zoning allows for a variety of development options, making it an attractive investment for developers seeking a blend of residential and commercial uses in a desirable coastal location. The existing motel provides a valuable asset, whether for continued operation or future integration into a larger development plan. This property offers significant upside potential in a thriving coastal community.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Carolina Beach
    County
    New Hanover
    State
    North Carolina
    Longitude
    -77.8960899
    Latitude
    34.0332522

    Comparable in this City

    • $400,000
      0.18 Acres

      Coastal Dream Home Ready Lot

      Build-ready lot in Fisher's Reserve community, Carolina Beach.
      106 Hooks Rd, Carolina Beach, NC 28428
      View Details
    • $425,000
      0.31 Acres

      Marsh View Land in Carolina Beach

      Residential land with unobstructed marsh views, build on your timeline.
      116 Virginia Ave Carolina Bch, Carolina Beach, NC 28428
      View Details
    • $525,000
      0.15 Acres

      Coastal Homesite Near Carolina Beach

      Homesite near the ocean, sound views, close to amenities.
      214 Florida Ave, Carolina Beach, NC 28428
      View Details
    • $835,000
      0.17 Acres

      Oversized Corner Lot Near Ocean

      Rare double lot near the ocean with multiple building options.
      309 Tennessee Ave, Carolina Beach, NC 28428
      View Details
    • $385,000
      0.18 Acres

      Build Ready Lot in Carolina Beach

      Premium lot for custom coastal dream home near the beach.
      109 Hooks Rd, Carolina Beach, NC 28428
      View Details
    • $2,200,000
      0.51 Acres

      Carolina Beach Redevelopment Opportunity

      Rare redevelopment opportunity in Carolina Beach near the beachfront.
      109 Sumter Ave, Carolina Beach, NC 28428
      View Details

    Similar Nearby for Sale

    • $400,000
      0.18 Acres

      Coastal Dream Home Ready Lot

      Build-ready lot in Fisher's Reserve community, Carolina Beach.
      106 Hooks Rd, Carolina Beach, NC 28428
      View Details
    • $425,000
      0.31 Acres

      Marsh View Land in Carolina Beach

      Residential land with unobstructed marsh views, build on your timeline.
      116 Virginia Ave Carolina Bch, Carolina Beach, NC 28428
      View Details
    • $525,000
      0.15 Acres

      Coastal Homesite Near Carolina Beach

      Homesite near the ocean, sound views, close to amenities.
      214 Florida Ave, Carolina Beach, NC 28428
      View Details
    • $835,000
      0.17 Acres

      Oversized Corner Lot Near Ocean

      Rare double lot near the ocean with multiple building options.
      309 Tennessee Ave, Carolina Beach, NC 28428
      View Details
    • $385,000
      0.18 Acres

      Build Ready Lot in Carolina Beach

      Premium lot for custom coastal dream home near the beach.
      109 Hooks Rd, Carolina Beach, NC 28428
      View Details
    • $2,200,000
      0.51 Acres

      Carolina Beach Redevelopment Opportunity

      Rare redevelopment opportunity in Carolina Beach near the beachfront.
      109 Sumter Ave, Carolina Beach, NC 28428
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Carolina Beach Commercial Space Available

      Commercial space and outparcel available for lease in Carolina Beach.
      1001 St Joseph St, Carolina Beach, NC 28428
      View Details
    • $22 SF/Yr
      22,222 SF

      Lake Park Blvd Office Spaces

      Carolina Beach commercial property, flexible suites.
      1328 Lake Park Blvd, Carolina Beach, NC 28428
      View Details
    • Contact for pricing

      Warehouse Units with Office Space

      Warehouse units with office space for lease on Lake Park.
      1324 N Lake Park Blvd, Carolina Beach, NC 28428
      View Details
    • $300 /Mo
      64 SF

      Office Space in Carolina Beach

      64 sq ft office space for rent in Carolina Beach.
      1029 N Lake Park Blvd N, Carolina Beach, NC 28428
      View Details
    • Contact for pricing
      2,997 SF

      New Retail Space Near Beach

      New retail space in luxury apartment complex near Carolina Beach.
      904 North Lake Park Blvd, Carolina Beach, NC 28428
      View Details
    • Contact for pricing
      64 SF

      Carolina Beach Office Space Available

      Upstairs office space for rent in Carolina Beach.
      1029 N Lake Park Blvd N, Carolina Beach, NC 28428
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    218 Charlotte Ave
    Carolina Beach, NC 28428
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    218 Charlotte Ave, Carolina Beach, NC, 28428
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!