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    Property profile & analytics

    428 Lee St Belhaven, NC 27810

    • Commercial real estate
    • 2,380 SF
    • 0.67 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-4575689
    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

    • Cornerstone Tabernacle / Presbyterian Church

    Property Details for 428 Lee St

    Year built
    1978
    Lot size
    0.67 lot acres
    Property size
    2,380 SF
    Property type
    Commercial real estate

    Description

    This exceptional property located at 428 LEE Street in the desirable Belhaven, NC, offers a unique opportunity to own a substantial piece of waterfront real estate. The property boasts a generous 0.67-acre lot providing ample space for various uses. The existing structure encompasses 2,380 square feet, presenting a blank canvas for renovation or a foundation for new construction. Imagine the possibilities – a stunning waterfront home, a tranquil retreat, or a lucrative investment opportunity. The location in Belhaven offers a peaceful setting while remaining conveniently accessible. The property's size and waterfront access are particularly appealing, making it a rare find in this sought-after area. This is an ideal chance to create your dream property in a picturesque coastal town. The existing structure, while requiring updates or potential demolition, provides a solid starting point for your vision. With its substantial lot size and prime waterfront location, this property is sure to attract significant interest. Don't miss this chance to secure a piece of Belhaven's unique coastal charm. The asking price of $160,000 reflects the exceptional value and potential of this remarkable property. Serious inquiries are encouraged.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Belhaven
    County
    Beaufort
    State
    North Carolina
    Longitude
    -76.62585
    Latitude
    35.5451

    Comparable in this City

    • $375,000
      2,244 SF

      Charming Belhaven Waterfront Property

      Secluded waterfront lot, 2,244 sq ft.
      246 Pamlico St, Belhaven, NC 27810
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    • $349,900
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      Prime Belhaven Waterfront Property

      600 sq ft Waterfront Lot, $349,900
      340 Jordan Creek Marina Dr, Belhaven, NC 27810
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    • $4,900,000
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      Waterfront Land on Pungo River

      112-acre waterfront property with Intracoastal Waterway access.
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    • Contact for pricing
      0.52 Acres

      Belhaven Land with River Views

      0.52 acre wooded lot with Pungo River views.
      217 E Dowry Crk, Belhaven, NC 27810
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      0.55 Acres

      Belhaven Land with Water Views

      0.55 AC lot with water and pond views.
      123 Dowry Crk E, Belhaven, NC 27810
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    • $95,000
      Pending

      25 Acres Timberland in Belhaven

      25 acres of timberland near Bath and Belhaven, North Carolina.
      Sr 1720 Rd, Belhaven, NC 27810
      View Details

    Similar Nearby for Sale

    • $375,000
      2,244 SF

      Charming Belhaven Waterfront Property

      Secluded waterfront lot, 2,244 sq ft.
      246 Pamlico St, Belhaven, NC 27810
      View Details
    • $349,900
      600 SF

      Prime Belhaven Waterfront Property

      600 sq ft Waterfront Lot, $349,900
      340 Jordan Creek Marina Dr, Belhaven, NC 27810
      View Details
    • $4,900,000
      112.00 Acres

      Waterfront Land on Pungo River

      112-acre waterfront property with Intracoastal Waterway access.
      Norfleet Shores Rd, Belhaven, NC 27810
      View Details
    • Contact for pricing
      0.52 Acres

      Belhaven Land with River Views

      0.52 acre wooded lot with Pungo River views.
      217 E Dowry Crk, Belhaven, NC 27810
      View Details
    • Contact for pricing
      0.55 Acres

      Belhaven Land with Water Views

      0.55 AC lot with water and pond views.
      123 Dowry Crk E, Belhaven, NC 27810
      View Details
    • $95,000
      Pending

      25 Acres Timberland in Belhaven

      25 acres of timberland near Bath and Belhaven, North Carolina.
      Sr 1720 Rd, Belhaven, NC 27810
      View Details
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    428 Lee St
    Belhaven, NC 27810
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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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