Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    301 Driftwood St Nags Head, NC 27959-9174
    Back to Search
    Property profile & analytics

    301 Driftwood St, Nags Head, NC 27959-9174

    View on Map
    • Investment properties
    • 3,192 SF
    • 0.26 lot acres
    Off-Market
    Property ID
    US53-0708664
    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
    $15,095,000
    Show details
    Cap Rate Potential
    8.5%
    Investment properties
    Location Intelligence

    Current Use by Public Records

    • Investment properties

    Property Details for 301 Driftwood St

    Year built
    1996
    Lot size
    0.26 lot acres
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    6690010
    APU
    6690010

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Apr 9, 2014 $453,000 Barbara Magel Ayars Lisa Duff Muglia Warranty Deed —
    Aug 24, 2010 $342,500 Kennard V Muglia Gateway Bank & Trust Company Special Warranty Deed —
    Jun 1, 2010 $308,000 Gateway Bank & Trust Company Russell R Burnett JR Trustees Deed · related —

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $18,922,000
      Market price range: $307k - $29.1M

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

    Location Insight

    • Map
    • Local Demand
    City
    Nags Head
    County
    Dare
    State
    North Carolina
    Longitude
    -75.6438
    Latitude
    35.9896
    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
    $1,958
    $294,000
    $290,600
    $584,600
    -
    $294,000
    $290,600
    $584,600

    Comparable in this City

    • Value Estimation
      $9,605,000
      3,192 SF

      301 Driftwood St

      OFFICE/RESIDENTIAL (MIXED USE)
      301 Driftwood St, Nags Head, NC 27959-9174
      View Details
    • Value Estimation
      $16,405,000
      2,976 SF

      2600 Virginia Dare Trl

      OFFICE/RESIDENTIAL (MIXED USE)
      2600 Virginia Dare Trl, Nags Head, NC 27959-9250
      View Details
    • Value Estimation
      $1,200,000
      5,320 SF

      300 Driftwood St

      OFFICE/RESIDENTIAL (MIXED USE)
      300 Driftwood St, Nags Head, NC 27959-9173
      View Details
    • Value Estimation
      $4,000,000
      3,388 SF

      6607 Virginia Dare Trl

      OFFICE/RESIDENTIAL (MIXED USE)
      6607 Virginia Dare Trl, Nags Head, NC 27959-9117
      View Details
    • Value Estimation
      $11,680,000
      2,100 SF

      6704 Croatan Hwy

      OFFICE/RESIDENTIAL (MIXED USE)
      6704 Croatan Hwy, Nags Head, NC 27959
      View Details
    • Value Estimation
      $14,625,000
      3,225 SF

      3324 Virginia Dare Trl

      OFFICE/RESIDENTIAL (MIXED USE)
      3324 Virginia Dare Trl, Nags Head, NC 27959-9266
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Oceanfront Beach House Opportunity

      Rejuvenated oceanfront beach house with direct beach access.
      25273 Sea Isle Hills Dr, Waves, NC 27959
      View Details
    • $595,000
      0.49 Acres

      Soundfront Commercial Lot in Nags Head

      Soundfront commercial lot in Nags Head's Watersports District.
      7545 S Virginia Dare Trl, Nags Head, NC 27959
      View Details
    • $1,449,500
      0.41 Acres

      Oceanfront Lot in Nags Head

      Vacant oceanfront lot in a prime Nags Head location.
      7105 S Virginia Dare Trl, Nags Head, NC 27959
      View Details
    • $575,000
      0.34 Acres

      Vacant Lot in Nags Head

      Vacant lot near Jockey's Ridge, ideal for vacation home.
      S Croatan Hwy, Nags Head, NC 27959
      View Details
    • $595,000
      21,500 SF

      Soundfront Commercial Land Opportunity

      General Commercial C-2 District lot available for sale.
      7545 South Virginia Dare Trl, Nags Head, NC 27959
      View Details
    • $649,500
      0.26 Acres

      Nags Head Land Opportunity

      Semi-oceanfront land with rental cottage in excellent location.
      7104 S Virginia Dare Trl, Nags Head, NC 27959
      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.
    301 Driftwood St
    Nags Head, NC 27959-9174
    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
    301 Driftwood St, Nags Head, NC, 27959
    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!