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    Property profile & analytics

    6719 Ocean W Hwy Ocean Isle Beach, NC 28469

    • Warehouses
    • 5,720 SF
    • 3.03 lot acres
    OFF-MARKET
    Last Sale
    Apr 24, 2024
    Value Estimations
    $595,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-1237446
    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

    • Warehouses

    Property Details for 6719 Ocean W Hwy

    Year built
    1998
    Construction
    STEEL FRAME
    Lot size
    3.03 lot acres
    Property size
    5,720 SF
    Zone code
    CLD
    Property type
    Warehouses
    APN
    2110002602
    APU
    2110002602

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $674,000
      Market price range: $355k - $1.62M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $930,000
      Current use
      APARTMENT HOUSE (5+ UNITS)
      $895,000
      Change: -3% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Ocean Isle Beach
    County
    Brunswick
    State
    North Carolina
    Longitude
    -78.4862
    Latitude
    33.9471
    CBSA code
    34820
    CBSA name
    MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-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
    0
    $0.00
    $135,610
    $205,990
    $341,600
    -
    $135,610
    $205,990
    $341,600

    Comparable in this City

    • Value Estimation
      $2,765,000
      19,200 SF

      525 Mdw Smt Dr

      MINI-WAREHOUSE, STORAGE • 19,200 SF
      525 Mdw Smt Dr, Ocean Isle Beach, NC 28469
      View Details
    • Value Estimation by Request
      2,400 SF

      6030 Yarborough St

      MINI-WAREHOUSE, STORAGE • 2,400 SF
      6030 Yarborough St, Ocean Isle Beach, NC 28469
      View Details
    • Value Estimation
      $2,285,000
      17,804 SF

      5841 Ocean W Hwy

      MINI-WAREHOUSE, STORAGE • 17,804 SF
      5841 Ocean W Hwy, Ocean Isle Beach, NC 28469
      View Details
    • Value Estimation by Request
      4,292 SF

      1900 Sommersett SW Rd

      MINI-WAREHOUSE, STORAGE • 4,292 SF
      1900 Sommersett SW Rd, Ocean Isle Beach, NC 28469
      View Details
    • Value Estimation
      $1,355,000
      12,265 SF

      6803 Bch SW Dr

      WAREHOUSE, STORAGE • 12,265 SF
      6803 Bch SW Dr, Ocean Isle Beach, NC 28469-5747
      View Details
    • Value Estimation
      $1,465,000
      13,284 SF

      591 Mdw Smt Dr

      MINI-WAREHOUSE, STORAGE • 13,284 SF
      591 Mdw Smt Dr, Ocean Isle Beach, NC 28469-6161
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Office and Warehouse Space Available

      Office and warehouse space on a hard corner on Hwy 17.
      6260 Ocean Hwy, Shallotte, NC 28469
      View Details
    • $895,000

      Beach Drive Showroom/Office & Warehouse

      Corner lot showroom, office, and warehouse space near beaches.
      7011 Beach Dr, Shallotte, NC 28469
      View Details
    • Contact for pricing
      3,614 SF

      Established Cabinet Shop For Sale

      Custom cabinet shop with building and detached paint booth.
      6863 Beach Dr SW, Ocean Isle Beach, NC 28469
      View Details
    • $725,000

      Renovated Office/Medical Facility For Sale

      Renovated office/medical facility in Sunset Beach commercial corridor.
      1557 Seaside Rd, Ocean Isle Beach, NC 28469
      View Details
    • $775,000
      0.21 Acres

      Ocean Isle Beach Build-Ready Lot

      Cleared lot with ICW views, ready for custom home.
      421 E 6 St, Ocean Isle Beach, NC 28469
      View Details
    • $93,900
      0.43 Acres

      Ocean Isle Beach Homesite

      Homesite in Ocean Ridge Plantation with access to premium amenities.
      6444 Waterbrook Way SW, Ocean Isle Beach, NC 28469
      View Details

    Similar Nearby for Lease

    • $750 /Mo
      120 SF

      Private Office Space For Lease

      Private office space for lease in prime location.
      6787 Beach Dr SW, Ocean Isle Beach, NC 28469
      View Details
    • Contact for pricing

      Retail Space at Beach Drive

      Retail space with access to major thoroughfares.
      6270 Beach Dr Southwest, Ocean Isle Beach, NC 28469
      View Details
    • $10,000 /Mo

      Prime Commercial Land Lease Opportunity

      Commercial land parcels for lease near Ocean Isle Beach roundabout.
      6210 Beach Dr SW, Ocean Isle Beach, NC 28469
      View Details
    • $2,000 /Mo
      Pending

      Ocean Isle Beach Commercial Space

      Commercial space with seven offices located off Hwy 17.
      6900 Ocean Hwy W, Ocean Isle Beach, NC 28469
      View Details
    • Contact for pricing
      37,922 SF

      Sunset Commons Retail Space

      Retail space for sublease in Sunset Commons Shopping Center.
      925 Seaside Rd SW, Ocean Isle Beach, NC 28469
      View Details
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    Ocean Isle Beach, NC 28469
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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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