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Property profile & analytics
OFF-MARKET
Estimated value
$725,000
Retail space
705 Ocean Dr Oak Island, NC 28465-8216
Individually Owned
17-yr Hold
Free & Clear
Property ID
US53-3407853
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1960
Construction
WOOD
Total area
3,913 SF
Zoning code
CR
APN
250FG010
UPID
US53-3407853
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
-
Koko Cabana Restaurant
-
Yaupon Beach Fishing Pier Fishing Pier
-
Oak Island Pier Resort
-
Ruby's Coffeehouse & Eatery Cafe & Coffee Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$595k
Comparable Approach
Comparable
$735k
Blend (final)
Blend
$725k
Owner & transaction history
Town Of Oak Island · 17 yrs held
Town Of Oak Island
since 2009
5 recorded transactions
Zoning & alternative use
CR · Oak Island, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The purpose of this CR recreation district shall be to provide for, protect, and encourage a grouping of beachfront enterprises providing accommodations and recreation to persons wishing to lodge near the strand or participate in the various water sports available to them.
Zone name
Commercial Recreation
General category
COMMERCIAL
Zone area
90.44 ac
Source
Realmo
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 Oak Island submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Oak Island 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%
$645,000
6.5%
$595,000
7%
$550,000
Blend value · Realmo final
$725k
Range $653k – $798k · ±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
$185 / 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
Property tax & assessments
Assessed value
$2,006,060
Assessed 2024
Previous assessed
$2,006,060
+0.0% YoY
Assessed land
$1,005,000
Assessed improvement
$1,001,060
Land market value
$1,005,000
Improvement market value
$1,001,060
Total market value
$2,006,060
Applied tax rate
14.0000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1960
Construction
WOOD
Heating
HEAT PUMP
Cooling
CENTRAL
Stories
1
Bathrooms
2
Total area
3,913 SF
Zoning code
CR
APN
250FG010
UPID
US53-3407853
Jurisdiction
BRUNSWICK
Zoning & alternative use
CR · Oak Island, NCZoning CR · permitted uses
CR · Oak Island, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The purpose of this CR recreation district shall be to provide for, protect, and encourage a grouping of beachfront enterprises providing accommodations and recreation to persons wishing to lodge near the strand or participate in the various water sports available to them.
Zone name
Commercial Recreation
General category
COMMERCIAL
Zone area
90.44 ac
Source
Realmo
Building & site characteristics
From public records
Year built
1960
Construction
WOOD
Heating
HEAT PUMP
Cooling
Yes
Stories
1
Bathrooms
2
Current owner
From public records · entity-resolved
Town Of Oak Island
Individual
Free & Clear · 17 yrs held
Mailing address
4601 E OAK IS DR, OAK ISLAND, NC 28465-5211
Ownership since
2009
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 17, 2009
$1,500,000
Town Of Oak Island
Cooperative Bank
Special Warranty Deed
—
Mar 31, 2008
$1,649,000
Cooperative Bank
Kitchin Henry L
Trustees Deed
related
—
May 11, 2005
$1,000,000
Cape Fear Trading Group Vii Ll
Fowler,roy & Kim
Warranty Deed
$1,000,000 · Fnb Southeast
Apr 21, 2005
$447,000
Roy Fowler
Beckner,david L & Juanita
Warranty Deed
—
—
—
Cape Fear Trading Group Vii Ll
—
Deed Of Trust
related
$1,530,000 · Cooperative Bank
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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