New search
Property profile & analytics
OFF-MARKET
Estimated value
$1,015,000
Hotels
7218 Virginia Dare Trl, Nags Head, NC 27959-9128
Entity Owned
7-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US53-3295111
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
1970
Total area
8,124 SF
Lot
0.85 ac (37,000 SF)
APN
6641000
UPID
US53-3295111
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
-
Seahorse Inn & Cottages Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$940k
Comparable Approach
Comparable
$1.09M
Blend (final)
Blend
$1.02M
Owner & transaction history
Obx Choice LLC · 7 yrs held
Obx Choice LLC
since 2019
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$965,000
+21.0%
Medical building
$865,000
+8.9%
Retail stores
$840,000
+5.5%
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 Nags Head submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Nags Head 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%
$1,020,000
6.5%
$940,000
7%
$875,000
Alternative Use
Use
Estimation
HOTEL/MOTEL
$795,000
Current use
OFFICE BUILDING
$965,000
Change: +21% · Conversion: Difficult
MEDICAL BUILDING
$865,000
Change: +9% · Conversion: Difficult
RETAIL STORES
$840,000
Change: +5% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$665,000
Change: -16% · Conversion: Difficult
Blend value · Realmo final
$1.02M
Range $914k – $1.12M · ±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
$125 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$7,445
Tax year 2024
Assessed value
$2,170,500
Assessed 2024
Previous assessed
$2,170,500
+0.0% YoY
Effective rate
0.34%
On assessed value
Assessed land
$875,900
Assessed improvement
$1,294,600
Land market value
$875,900
Improvement market value
$1,294,600
Total market value
$2,170,500
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
Hotels
Use group
HOTEL/MOTEL
Status
Off-Market
Year built
1970
Heating
FLOOR/WALL FURNACE
Cooling
WALL UNIT
Stories
3
Bathrooms
24
Total area
8,124 SF
Lot
0.85 ac (37,000 SF)
APN
6641000
UPID
US53-3295111
Jurisdiction
DARE
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
HOTEL/MOTEL Current
Est. value
$795,000
OFFICE BUILDING
Est. value
$965,000
MEDICAL BUILDING
Est. value
$865,000
RETAIL STORES
Est. value
$840,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$665,000
HOTEL/MOTEL Current
OFFICE BUILDING
MEDICAL BUILDING
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
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
1970
Heating
FLOOR/WALL FURNACE
Cooling
Yes
Stories
3
Bathrooms
24
Lot
0.85 ac
Current owner
From public records · entity-resolved
Obx Choice LLC
Entity
Mailing address
6910 MIDLOTHIAN TPKE, RICHMOND, VA 23225-5635
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2019
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 26, 2021
—
Obx Lodging LLC
—
Deed
related
$4,300,000 · Lmf Commercial LLC
Feb 12, 2019
$10,500,000
Obx Choice LLC
B&t Investments Group
Warranty Deed
$1,810,000 · Bank Of George
Feb 12, 2019
—
Obx Choice LLC
—
Deed
related
$1,810,000 · Bank Of George
May 24, 2007
$1,750,000
B & T Investment Group LLC
James D Edwards
Deed
$1,150,000 · Resource 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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 7218 Virginia Dare Trl?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
