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    801 Seabreeze Rd Wilmington, NC 28409
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    Property profile & analytics

    801 Seabreeze Rd Wilmington, NC 28409

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    • Commercial real estate
    Off-Market
    Property ID
    US53-2073187
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 801 Seabreeze Rd

    Property type
    Commercial real estate

    Description

    This exceptional 0.73-acre commercial land parcel presents a unique investment opportunity in the thriving Wilmington, North Carolina market. Situated at the highly visible corner of Carolina Beach Road and Seabreeze Road North, this vacant lot is currently zoned R-15, allowing for potential residential development. However, its strategic location adjacent to commercially zoned properties offers significant potential for rezoning, unlocking even greater development possibilities. Imagine the possibilities of constructing 1 to 2 homes, capitalizing on the area's growth trajectory. Currently, the property lacks essential utilities such as water, sewer, and power

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Wilmington
    County
    NEW HANOVER
    State
    North Carolina
    Longitude
    -77.897121
    Latitude
    34.0664159

    Comparable in this City

    • $4,500,000
      32.97 Acres

      Wilmington Land with Development Potential

      33 acres near the coast, ideal for subdivision development.
      6358 Myrtle Grove Rd, Wilmington, NC 28409
      View Details
    • $207,500
      0.21 Acres

      Wilmington Homesite Near Waterway

      Homesite in established neighborhood near Intracoastal Waterway, shopping, and beaches.
      1720 Tall Mast Ct, Wilmington, NC 28409
      View Details
    • Contact for pricing

      Myrtle Grove Land For Sale

      Just under 33 acres near the Intracoastal Waterway.
      6358 Myrtle Grove Rd, Wilmington, NC 28409
      View Details
    • New
      $299,000
      0.99 Acres

      Cleared Lot Near Carolina Beach

      Cleared residential lot near ICW and Carolina Beach Inlet.
      1305 Burnett Rd, Wilmington, NC 28409
      View Details
    • Contact for pricing

      Land with Road Frontage

      Land with frontage on Carolina Beach and Myrtle Grove Roads.
      7900 Myrtle Grove Rd, Wilmington, NC 28409
      View Details
    • $2,000,000
      Pending

      Wilmington Land Opportunity

      20 +/- acres in Myrtle Grove area, Wilmington, NC.
      6148 Myrtle Grove Rd, Wilmington, NC 28409
      View Details

    Similar Nearby for Sale

    • New
      $299,000
      0.99 Acres

      Cleared Lot Near Carolina Beach

      Cleared residential lot near ICW and Carolina Beach Inlet.
      1305 Burnett Rd, Wilmington, NC 28409
      View Details
    • $207,500
      0.21 Acres

      Wilmington Homesite Near Waterway

      Homesite in established neighborhood near Intracoastal Waterway, shopping, and beaches.
      1720 Tall Mast Ct, Wilmington, NC 28409
      View Details
    • $4,500,000
      32.97 Acres

      Wilmington Land with Development Potential

      33 acres near the coast, ideal for subdivision development.
      6358 Myrtle Grove Rd, Wilmington, NC 28409
      View Details
    • Contact for pricing

      Myrtle Grove Land For Sale

      Just under 33 acres near the Intracoastal Waterway.
      6358 Myrtle Grove Rd, Wilmington, NC 28409
      View Details
    • Contact for pricing

      Land with Road Frontage

      Land with frontage on Carolina Beach and Myrtle Grove Roads.
      7900 Myrtle Grove Rd, Wilmington, NC 28409
      View Details
    • $2,000,000
      Pending

      Wilmington Land Opportunity

      20 +/- acres in Myrtle Grove area, Wilmington, NC.
      6148 Myrtle Grove Rd, Wilmington, NC 28409
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail and Hospitality Building

      Multi-tenant building in New Hanover County with Oleander Road frontage.
      404 51St St, Wilmington, NC 28409
      View Details
    • Contact for pricing
      3,620 SF

      New Class A Office Space

      New office building with customizable floor plans for lease.
      701 Piner Rd, Wilmington, NC 28409
      View Details
    • Contact for pricing
      45,800 SF

      Prime Retail Redevelopment Opportunity

      Redevelopment opportunity in a dynamic, fast-growing Wilmington corridor.
      805 Pine Grove Dr, Wilmington, NC 28409
      View Details
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    Wilmington, NC 28409
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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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    801 Seabreeze Rd, Wilmington, NC, 28409
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