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Property profile & analytics
OFF-MARKET
Estimated value
$1,275,000
Warehouses
508 Atlantic Bch Cswy Atlantic Beach, NC 28512
Trust Owned
5-yr Hold
Absentee Owner
Free & Clear
Property ID
US53-2553419
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
1995
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
5,400 SF
Lot
0.39 ac (16,945 SF)
Zoning code
GB
APN
6375.12.95.9940000
UPID
US53-2553419
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.28M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.07M
Blend (final)
Blend
$1.28M
Owner & transaction history
William A Downey SR Revocable Trust · 5 yrs held
William A Downey SR Revocable Trust
since 2021
Last sale
$1.3M
4 recorded transactions
Zoning & alternative use
GB · Atlantic Beach, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.3M
+130.7%
Restaurant
$1.2M
+106.7%
Office building
$1.2M
+99.0%
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 Atlantic Beach submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Atlantic 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
$1,235,000
ML approach
$1,275,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,345,000
Change: +131% · Conversion: Difficult
RESTAURANT
$1,205,000
Change: +107% · Conversion: Difficult
OFFICE BUILDING
$1,160,000
Change: +99% · Conversion: Difficult
RETAIL STORES
$1,010,000
Change: +73% · Conversion: Moderate
Blend value · Realmo final
$1.28M
Range $1.15M – $1.40M · ±10% · vs last sale $1.30M (May 10 2021)
Last sale anchor
$1.30M
May 10 2021
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
$236 / 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
Tax billed
$3,173
Tax year 2022
Assessed value
$956,964
Assessed 2024
Previous assessed
$956,964
+0.0% YoY
Effective rate
0.33%
On assessed value
Assessed land
$564,750
Assessed improvement
$392,214
Land market value
$564,750
Improvement market value
$392,214
Total market value
$956,964
Applied tax rate
1,352.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
1995
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Buildings
2
Stories
1
Bathrooms
2
Total area
5,400 SF
Lot
0.39 ac (16,945 SF)
Zoning code
GB
APN
6375.12.95.9940000
UPID
US53-2553419
Jurisdiction
CARTERET
Zoning & alternative use
GB · Atlantic Beach, NC
Zoning GB · permitted uses
GB · Atlantic Beach, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Atlantic Beach. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL)
Est. value
$1.3M
RESTAURANT
Est. value
$1.2M
OFFICE BUILDING
Est. value
$1.2M
RETAIL STORES
Est. value
$1.0M
COMMERCIAL (GENERAL)
RESTAURANT
OFFICE BUILDING
RETAIL STORES
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
1995
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
1
Buildings
2
Bathrooms
2
Lot
0.39 ac
Current owner
From public records · entity-resolved
William A Downey SR Revocable Trust
Trust
Free & Clear · 5 yrs held
Mailing address
4604 GAMEREY CT, RALEIGH, NC 27609
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2021
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
Dec 8, 2025
—
William A Downey SR Revocable Trust
—
Deed
related
$750,000 · Select Bank
Sep 22, 2022
—
William A Downey SR Revocable Trust
—
Deed
related
$250,000 · Truist Bank
Aug 19, 2022
—
William A Downey SR Revocable Trust
—
Deed
related
$570,000 · Truist Bank
May 10, 2021
$1,300,000
William A Downey SR Revocable Trust
Joann C Tetterton
Warranty Deed
—
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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