Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    40618 Nc 12th Hwy Avon, NC 27915-1304

    • Retail space
    • 14,832 SF
    • 1.42 lot acres
    OFF-MARKET
    Last Sale
    Nov 08, 2021
    $1,290,000
    Value Estimations
    $1,310,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-3068857
    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

    • Retail space

    Property Details for 40618 Nc 12th Hwy

    Year built
    1964
    Lot size
    1.42 lot acres
    Property size
    14,832 SF
    Property type
    Retail space
    APN
    14473000
    APU
    14473000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,345,000
      ML approach
      $1,355,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,272,000
      Market price range: $1.27M - $4.06M

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

    Location Insight

    • Map
    • Local Demand
    City
    Avon
    County
    Dare
    State
    North Carolina
    Longitude
    -75.5038
    Latitude
    35.3528
    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
    $5,334
    $299,300
    $548,600
    $847,900
    -
    $299,300
    $548,600
    $847,900

    Comparable in this City

    • Value Estimation
      $660,000
      5,420 SF

      41056 Nc 12th Hwy

      RETAIL STORES (PERSONAL SERVICES) • 5,420 SF
      41056 Nc 12th Hwy, Avon, NC 27915-1294
      View Details
    • Value Estimation
      $780,000
      6,616 SF

      39774 Nc 12th Hwy

      RETAIL STORES (PERSONAL SERVICES) • 6,616 SF
      39774 Nc 12th Hwy, Avon, NC 27915-1297
      View Details
    • Value Estimation by Request
      2,192 SF

      41076 Nc 12th Hwy

      RETAIL STORES (PERSONAL SERVICES) • 2,192 SF
      41076 Nc 12th Hwy, Avon, NC 27915
      View Details
    • Value Estimation by Request
      2,584 SF

      39235 Kinnakeet N Dr

      RETAIL STORES (PERSONAL SERVICES) • 2,584 SF
      39235 Kinnakeet N Dr, Avon, NC 27915
      View Details
    • Value Estimation by Request
      1,536 SF

      40658 Nc 12th Hwy

      RETAIL STORES (PERSONAL SERVICES) • 1,536 SF
      40658 Nc 12th Hwy, Avon, NC 27915-1304
      View Details
    • Value Estimation by Request
      3,200 SF

      40136 Nc 12th Hwy

      RETAIL STORES (PERSONAL SERVICES) • 3,200 SF
      40136 Nc 12th Hwy, Avon, NC 27915
      View Details

    Similar Nearby for Sale

    • $225,000
      34,500.00 Acres

      Avon Canalfront Lot For Sale

      Private canalfront lot in Avon, NC with sound and marsh views.
      40008 North End Rd, Avon, NC 27915
      View Details
    • $75,000
      2,500.00 Acres

      Serene Kinnakeet Shores Lot

      Prime lot in Kinnakeet Shores with ocean and sound views.
      41197 Lakeside Dr, Avon, NC 27915
      View Details
    • $89,000
      12,500.00 Acres

      Soundfront Lot in Avon, NC

      Semi-soundfront lot with unobstructed views and community amenities.
      41436 Portside Dr, Avon, NC 27915
      View Details
    • $64,900

      Avon, NC Residential Land

      Prime lot in Kinnakeet Shores, build your coastal dream home.
      41199 Lakeside Dr, Avon, NC 27915
      View Details
    • $97,500
      15,148.00 Acres

      Avon, NC Residential Lot

      Residential lot in Avon, NC, ideal for building or investment.
      E Kinnakeet Reef Ct, Avon, NC 27915
      View Details
    • $149,000
      27,000.00 Acres

      Avon Residential Lot with Views

      Large corner lot in Kinnakeet Shores with sound and ocean views.
      41137 Portside Dr, Avon, NC 27915
      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.
    40618 Nc 12th Hwy
    Avon, NC 27915-1304
    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

    Google sign-in failed. Please try again or use another login method.