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    4987 Caratoke Hwy Coinjock, NC 27923
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    Property profile & analytics

    4987 Caratoke Hwy, Coinjock, NC 27923

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    • Warehouses
    • 3,600 SF
    • 2.12 lot acres
    For Sale
    $339,505
    View Listing →
    Highway Property Auto Shop Building For Sale
    $339,505
    7,200 SF

    Highway Property Auto Shop Building

    2.12 acre property with large auto shop building.

    4987 Caratoke Highway, Coinjock, NC 27923
    View Listing
    Property ID
    US53-5534304
    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

    • Pac / Medical Clinic
    • Storage Plus / Storage Facility

    Property Details for 4987 Caratoke Hwy

    Year built
    1988
    Lot size
    2.12 lot acres
    Zone code
    GB
    Property type
    Warehouses
    Property subtype
    Self storage facilities
    APN
    0082000059D0000
    APU
    0082000059D0000

    Description

    This exceptional commercial property, located at 4987 CARATOKE Highway in Coinjock, North Carolina, presents a unique investment opportunity. Boasting a substantial 7,200 square feet of space, this property sits on a generous 2.12-acre lot, offering significant potential for development or expansion. The property's "Other" classification allows for a wide range of uses, subject to local zoning regulations. The asking price is $339,505. Its prime location on CARATOKE Highway provides excellent visibility and accessibility. The expansive lot size offers ample room for parking, outdoor storage, or future construction. Given its size and location, this property is well-suited for a variety of commercial ventures, from retail and warehousing to light industrial uses. Interested parties are encouraged to conduct their own due diligence to determine the suitability of the property for their specific needs and to verify zoning regulations and permitted uses. The property's significant size and strategic location make it a compelling investment opportunity in the vibrant Coinjock market. Serious inquiries only.

    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
    Coinjock
    County
    Currituck
    State
    North Carolina
    Longitude
    -75.941
    Latitude
    36.3268
    CBSA code
    47260
    CBSA name
    VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC METROPOLITAN 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
    2023
    $1,119
    $156,000
    $43,800
    $199,800
    -
    $156,000
    $43,800
    $199,800

    Comparable in this City

    • Value Estimation by Request
      5,520 SF

      4544 Caratoke Hwy

      MINI-WAREHOUSE, STORAGE
      4544 Caratoke Hwy, Coinjock, NC 27923-9710
      View Details
    • Value Estimation by Request
      1,274 SF

      5330 Caratoke Hwy

      MINI-WAREHOUSE, STORAGE
      5330 Caratoke Hwy, Coinjock, NC 27923
      View Details
    • Value Estimation by Request
      1,144 SF

      126 Worth Guard Rd

      MINI-WAREHOUSE, STORAGE
      126 Worth Guard Rd, Coinjock, NC 27923-9765
      View Details
    • Value Estimation by Request
      975 SF

      183 Worth Guard Rd

      RETAIL STORES (PERSONAL SERVICES)
      183 Worth Guard Rd, Coinjock, NC 27923-9700
      View Details
    • Value Estimation by Request
      252.83 Acres

      Caratoke Hwy

      VACANT COMMERCIAL LAND
      Caratoke Hwy, Coinjock, NC 27923
      View Details
    • Value Estimation by Request
      24.00 Acres

      Caratoke Hwy

      VACANT COMMERCIAL LAND
      Caratoke Hwy, Coinjock, NC 27923
      View Details

    Similar Nearby for Sale

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      Coinjock Highway Commercial Property

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      Coinjock Land For Sale

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    • Contact for pricing
      7,200 SF

      Highway Property Auto Shop Building

      2.12 acre property with large auto shop building.
      4987 Caratoke Hwy, Coinjock, NC 27923
      View Details
    View Listing
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    Coinjock, NC 27923
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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.

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