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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2503 Croatan Hwy Kill Devil Hills, NC 27948-8828

    • Office buildings
    • 6,760 SF
    • 0.62 lot acres
    OFF-MARKET
    Value Estimations
    $1,055,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-2566026
    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

    • Kasey Sells OBX @ Coldwell Banker Seaside Realty / Real Estate Agent
    • CRYSTAL CLARK, COLDWELL BANKER SEASIDE REALTY OUTER BANKS Luxury Oceanfront vacation homes / Real Estate Agent / Real Estate Agency
    • Joanna Harrington / Real Estate Agent
    • Jason Fant | Outer Banks Real Estate Agent | JasonSellsOBX | Coldwell Banker Seaside Realty / Real Estate Agent
    • Sue Perry Coldwell Banker Seaside Realty / Real Estate Agent

    Property Details for 2503 Croatan Hwy

    Year built
    1987
    Lot size
    0.62 lot acres
    Property size
    6,760 SF
    Property type
    Office buildings
    APN
    444000
    APU
    444000

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,470,000
      6.5%
      $1,360,000
      7%
      $1,260,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $796,000
      Market price range: $490k - $1.15M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,605,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Kill Devil Hills
    County
    Dare
    State
    North Carolina
    Longitude
    -75.6794
    Latitude
    36.0456
    CBSA code
    28620
    CBSA name
    KILL DEVIL HILLS, NC MICROPOLITAN 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
    2024
    $8,070
    $507,600
    $560,500
    $1,068,100
    -
    $507,600
    $560,500
    $1,068,100

    Comparable in this City

    • Value Estimation by Request
      2,241 SF

      Old Nags Head Woods Rd

      OFFICE BUILDING • 2,241 SF
      Old Nags Head Woods Rd, Kill Devil Hills, NC 27948
      View Details
    • Value Estimation
      $1,070,000
      7,568 SF

      2601 Croatan Hwy

      OFFICE BUILDING • 7,568 SF
      2601 Croatan Hwy, Kill Devil Hills, NC 27948-8985
      View Details
    • Value Estimation by Request
      2,750 SF

      105 Airstrip Rd

      OFFICE BUILDING • 2,750 SF
      105 Airstrip Rd, Kill Devil Hills, NC 27948-8314
      View Details
    • Value Estimation by Request
      560 SF

      2700 Croatan Hwy

      OFFICE BUILDING • 560 SF
      2700 Croatan Hwy, Kill Devil Hills, NC 27948-9266
      View Details
    • Value Estimation by Request
      2,560 SF

      111 Carlton Ave

      OFFICE BUILDING • 2,560 SF
      111 Carlton Ave, Kill Devil Hills, NC 27948-7888
      View Details
    • Value Estimation by Request
      3,600 SF

      103 Clark St

      OFFICE BUILDING • 3,600 SF
      103 Clark St, Kill Devil Hills, NC 27948-8768
      View Details

    Similar Nearby for Sale

    • $649,000

      503 Croatan Highway

      Land
      503 Croatan Hwy, Kill Devil Hills, NC 27948
      View Details
    • $1,440,000
      4,800 SF

      Meineke Car Care Center

      NNN leased auto shop in Kill Devil Hills, NC.
      1800 S Croatan Hwy, Kill Devil Hills, NC 27948
      View Details
    • $319,000

      Sound Front Lot Opportunity

      Sound front lot in desirable Kill Devil Hills neighborhood.
      128 Sunrise Ln, Kill Devil Hills, NC 27948
      View Details
    • $1,980,000
      48,974.00 Acres

      Kill Devil Hills Multifamily Development

      Approved multifamily development property with 33 units in Kill Devil Hills.
      907 10Th Ave, Kill Devil Hills, NC 27948
      View Details
    • $775,000
      17,500.00 Acres

      Kill Devil Hills Retail Site

      Centrally located commercial site with a 3,000 SF building.
      502 S Croatan Hwy, Kill Devil Hills, NC 27948
      View Details
    • $525,000
      8,800.00 Acres

      Waterfront Parcels on Bay Drive

      Two waterfront parcels perfect for a coastal retreat in Kill Devil Hills.
      Bay Dr, Kill Devil Hills, NC 27948
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Kill Devil Hills Commercial Land

      Commercial land for lease in Kill Devil Hills, NC.
      2011 S Croatan Hwy, Kill Devil Hills, NC 27948
      View Details
    • Contact for pricing
      7,148 SF

      Retail Space in Kill Devil Hills

      Retail space available in a busy shopping center.
      1700 N Croatan Hwy, Kill Devil Hills, NC 27948
      View Details
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    2503 Croatan Hwy
    Kill Devil Hills, NC 27948-8828
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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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