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    Property profile & analytics

    976 Ocean W Hwy Supply, NC 28462-4060

    • Office buildings
    • 2,428 SF
    • 0.57 lot acres
    OFF-MARKET
    Last Sale
    Jun 01, 2020
    Value Estimations
    $515,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-2144614
    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

    • Brunswick Insurance Services Inc / Insurance Agency
    • Clemmons Leamon W / Insurance Agency

    Property Details for 976 Ocean W Hwy

    Year built
    2020
    Lot size
    0.57 lot acres
    Property size
    2,428 SF
    Zone code
    CLD
    Property type
    Office buildings
    APN
    1670001101
    APU
    1670001101

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $550,000
      6.5%
      $505,000
      7%
      $470,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $509,000
      Market price range: $249k - $509k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $550,000
      Current use
      RETAIL STORES
      $555,000
      Change: +1% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Supply
    County
    Brunswick
    State
    North Carolina
    Longitude
    -78.3023
    Latitude
    34.0075
    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
    $71,250
    $397,650
    $468,900
    -
    $71,250
    $397,650
    $468,900

    Comparable in this City

    • Value Estimation by Request
      1,296 SF

      118 Ocean W Hwy

      PROFESSIONAL BUILDING • 1,296 SF
      118 Ocean W Hwy, Supply, NC 28462
      View Details
    • Value Estimation
      $515,000
      3,456 SF

      2852 Old Fry SW Rd, Unit 1

      PROFESSIONAL BUILDING • 3,456 SF
      2852 Old Fry SW Rd, Supply, NC 28462-2258
      View Details
    • Value Estimation by Request
      3,600 SF

      2270 Ocean W Hwy

      PROFESSIONAL BUILDING • 3,600 SF
      2270 Ocean W Hwy, Supply, NC 28462
      View Details
    • Value Estimation
      $1,515,000
      7,260 SF

      3369 Holden Bch SW Rd

      PROFESSIONAL BUILDING • 7,260 SF
      3369 Holden Bch SW Rd, Supply, NC 28462-5719
      View Details
    • Value Estimation by Request
      948 SF

      3270 Holden Bch SW Rd

      PROFESSIONAL BUILDING • 948 SF
      3270 Holden Bch SW Rd, Holden Beach, NC 28462-5716
      View Details
    • Value Estimation by Request
      1,550 SF

      118 Ocean W Blvd

      PROFESSIONAL BUILDING • 1,550 SF
      118 Ocean W Blvd, Holden Beach, NC 28462-5025
      View Details

    Similar Nearby for Sale

    • $300,000
      1,500 SF

      Medical Office For Sale

      Former medical office space available for lease or purchase.
      12 Medical Center Dr SW, Supply, NC 28462
      View Details
    • $175,000
      0.57 Acres

      Prime Supply, NC Office Land

      Build-Ready Medical/Office Site
      17 Doctors Cir, Supply, NC 28462
      View Details
    • $475,000
      2,851 SF

      Medical Office Near Future Hospital

      Medical office for sale near future medical facility.
      14 Medical Center Dr SW, Supply, NC 28462
      View Details
    • New
      $1,500,000
      1.98 Acres

      Prime Commercial Land, Supply, NC

      1.98 acres with highway frontage suitable for various commercial uses.
      377 Ocean Hwy W, Supply, NC 28462
      View Details
    • $750,000
      2.53 Acres

      Holden Beach Waterfront Opportunity

      Prime 2.53-acre waterfront lot.
      2745 Holden Beach Rd, Supply, NC 28462
      View Details
    • Contact for pricing

      Highway 17 Commercial Land Opportunity

      Highway frontage in Brunswick County with development potential.
      1531 Ocean Hwy W, Supply, NC 28462
      View Details

    Similar Nearby for Lease

    • $23 SF/Yr
      13,285 SF

      Medical Office Space For Lease

      Medical office space available within established Brunswick Medical Campus.
      13 Medical Campus Dr, Supply, NC 28462
      View Details
    • New
      $1,500 /Mo
      600 SF

      Retail Space on Holden Beach

      Centrally located retail space near Holden Beach Causeway.
      3324 Holden Beach Rd SW, Supply, NC 28462
      View Details
    • Contact for pricing
      73,616 SF

      Prime Brunswick County Land

      1.69 Acres, Hwy 17 Frontage
      53 Physicians Dr, Supply, NC 28462
      View Details
    • Contact for pricing

      Brunswick County Development Site

      1.69-acre development site near Novant Hospital on HWY 17.
      57 Physicians Dr NW, Supply, NC 28462
      View Details
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    Supply, NC 28462-4060
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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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