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Property profile & analytics
OFF-MARKET
Estimated value
$665,000
Bars & Pubs
5 Boardwalk, Carolina Beach, NC 28428
Entity Owned
9-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US53-1548284
Property profile
Verified
Property type
Bars & Pubs
Use group
BAR, TAVERN
Year built
1953
Construction
CONCRETE
Total area
2,507 SF
Lot
0.05 ac (2,352 SF)
Zoning code
CBD,CENTRAL BUS DIST
APN
R09006-022-001-000
UPID
US53-1548284
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Hurricane Alley's Bar & Pub Restaurant
-
Church At The Boardwalk Church
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$644k
Blend (final)
Blend
$665k
Owner & transaction history
Jlm Ptshp LLC · 9 yrs held
Jlm Ptshp LLC
since 2017
4 recorded transactions
Zoning & alternative use
CBD,CENTRAL BUS DIST · Carolina Beach, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Carolina Beach submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Carolina Beach submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$1,020,000
Current use
OFFICE BUILDING
$840,000
Change: -18% · Conversion: Moderate
Blend value · Realmo final
$665k
Range $599k – $732k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$265 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Assessed value
$705,200
Assessed 2023
Previous assessed
$675,300
+4.4% YoY
Assessed land
$502,600
Assessed improvement
$202,600
Land market value
$502,600
Improvement market value
$202,600
Total market value
$705,200
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Bars & Pubs
Use group
BAR, TAVERN
Status
Off-Market
Year built
1953
Construction
CONCRETE
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Units
1
Bathrooms
2
Total area
2,507 SF
Lot
0.05 ac (2,352 SF)
Zoning code
CBD,CENTRAL BUS DIST
APN
R09006-022-001-000
UPID
US53-1548284
Jurisdiction
NEW HANOVER
Zoning & alternative use
CBD,CENTRAL BUS DIST · Carolina Beach, NC
Zoning CBD,CENTRAL BUS DIST · permitted uses
CBD,CENTRAL BUS DIST · Carolina Beach, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Carolina Beach. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT Current
Est. value
$1.0M
OFFICE BUILDING
Est. value
$840,000
RESTAURANT Current
OFFICE BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1953
Construction
CONCRETE
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
1
Bathrooms
2
Lot
0.05 ac
Current owner
From public records · entity-resolved
Jlm Ptshp LLC
Entity
Mailing address
205 GREENVILLE AVE, CAROLINA BEACH, NC 28428-5304
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 12, 2020
—
Jlm Partnership LLC
—
Deed
related
$438,320 · Truist Bk
May 18, 2017
$425,000
Jlm Ptshp LLC
Lanier,elwood G
Warranty Deed
$222,000 · Corning FCU
Jan 27, 2012
—
Coastclean LLC
Zeko,john
Grant Deed
related
—
—
—
Jlm Partnership LLC
—
Deed Of Trust
related
$438,320 · Truist Bk
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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