89 Hickman NW Rd Calabash, NC 28467-2001
Entity Owned
~
Est. High Equity
Estimated value (blended)
$1.50M
Range $1.35M – $1.65M (±10%)
Implied cap rate
5.50%
In-place · NOI ÷ last sale
Property ID
US53-1764243
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2016
Total area
8,316 SF
Lot
4.06 ac (176,854 SF)
Zoning code
CLD
APN
22600020
UPID
US53-1764243
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.49M
CAP Approach
CAP
$1.27M
Comparable Approach
Comparable
$1.24M
Blend (final)
Blend
$1.50M
Owner & transaction history
since 2026
Last sale
$1.6M
5 recorded transactions
Zoning & alternative use
CLD · Calabash, NC
Top alternative use upside
Restaurant
$2.3M
+11.7%
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
2 alternative uses screened
Sensitivity value band
Source audit · 10 inputs
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Summary
1
Valuation conclusion
Included free
Estimated market value
$1.50M
Value range
$1.35M – $1.65M
±10% around blend
Estimated value / SF
$180 / SF
Confidence
None
2 county-verified comps
Property data
75
Market benchmarks
67
Comparable evidence
20
$1.35M
blend $1.50M
$1.65M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
8,316 SF
Lot area
4.06 ac
Year built
2016
Stories
1
APN
22600020
Assessed value
$2,205,840
3
Income approach: direct capitalization
Partial preview
Income approach indication
$1.27M
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$1.37M
@ 6.5% CAP return
$1.27M
@ 7% CAP return
$1.18M
4
Sales comparison
Partial preview
Sales approach indication
$1.24M
Weighted, 0 comps · none confidence
Evidence
2 found
County-verified recorded sales
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$1.50M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
Submarket 39 sales
$245
-26%
County 109 sales
$229
-21%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $180/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Restaurant
Gross theoretical uplift
+12%
vs current-use indication
Retail Stores · current use
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
Not available
Assessed value
County record
Zoning designation
Not available
Operating expenses
Not available
Market rent
Not available
Actual rent roll
Not available
Tenant leases
Not available
Physical condition
Not inspected
Conversion costs
Not available
Not analyzed due to unavailable source data: tenant leases, physical condition and capital
requirements were not available for this desktop analysis. Cost Approach excluded due to
availability of income evidence.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
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Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 2 sales
Market rates by use type
PDF export
Analytics Standard · 5 reports
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Overview
Implied cap rate
5.50%
Implied, in-place cap rate for this retail space
Estimated NOI ÷ last recorded sale. Refine with your own numbers in the full report.
Lower yield / higher price
Higher yield / lower price
5.0%
This property · 5.50%
9.0%
NOI (est.)
$113k *
Last sale · Sep 2023
$1.61M
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$2.05M
Move the market yield to see immediate price impact.
Value / SF
$246
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%5.50%6.00%
$101k
$2.03M
$1.84M
$1.69M
$113k
$2.25M
$2.05M
$1.88M
$124k
$2.48M
$2.25M
$2.07M
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
2 found
None confidence · county-verified
Property tax & assessments
Property tax & assessments
Assessed value
$2,205,840
Assessed 2023
Previous assessed
$1,158,060
+90.5% YoY
Assessed land
$589,510
Assessed improvement
$1,616,330
Land market value
$589,510
Improvement market value
$1,616,330
Total market value
$2,205,840
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
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
2016
Heating
HEAT PUMP
Cooling
AC.PACKAGE
Stories
1
Total area
8,316 SF
Lot
4.06 ac (176,854 SF)
Zoning code
CLD
APN
22600020
UPID
US53-1764243
Jurisdiction
BRUNSWICK
Zoning & alternative use
CLD · Calabash, NCZoning CLD · permitted uses
CLD · Calabash, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
2016
Heating
HEAT PUMP
Cooling
Yes
Stories
1
Lot
4.06 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
CLD
Jurisdiction
Calabash, NC
Recorded code
CLD
Ownership Intelligence
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Debt & historyRecorded loans and transaction history
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Owner of record and activity signals are derived from public records and modeled classifications.
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