Brick Office
For Sale
$895,000
305 Commerce Avenue, Morehead City, NC 28557
Office property with an available suite and additional occupied space for an owner-user or investor.
Property Size4,880 SF
Price / SF$183.40
Days on Market314
Property Features for 305 Commerce Avenue
General Information
Standard status
Active
Size
4,880 SF
Property subtype
Commercial
Zoning
Commercial
Lease Type
Full Service
Amenities
Carpet,Tile
No
Yes
Electric
Dead End
Public
0.31
82x165x82x165
Brick Veneer
Asphalt,Off Street,On Site,Paved
Paved
Raised,Slab
City Street,State Road,2 - 3 Lanes,Maintained,Paved
4880.0
Building Details
Year Built
2000
Construction
brick
Tenancy
Multi
Listing Agency:
Ollie Raja Realty LLC
(912) 233-6000
Listed By:
Kristine Compton
Source:
Baystreetrealtygroup
Added: Dec 9, 2025
Changed: Oct 16
Last Checked: Oct 19 at 3:40AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Ollie Raja Realty LLC
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Investment Insights
Based on property information with market context.
Built in 2000, this 4,880-square-foot brick office building includes multiple spaces, with one currently available and the remaining areas occupied by tenants. The configuration provides a combination of existing occupancy and an open suite within the same property.
The building is located at 305 Commerce Ave in Morehead City, North Carolina. Its brick construction, established tenant presence, and available space create a straightforward office asset for continued leasing or owner occupancy.
The building is located at 305 Commerce Ave in Morehead City, North Carolina. Its brick construction, established tenant presence, and available space create a straightforward office asset for continued leasing or owner occupancy.
Key Highlights
- 4,880‑square‑foot office building
- Brick construction
- Built in 2000
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$75,542
Cap Rate
8.44%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,510,840
$1.5M
Cap Rate 7%
$1,079,171
$1.1M
Cap Rate 9%
$839,356
$839.4K
Market Conditions
NOI Build-Up for 4,880 SF
Gross rent
$117.1K $24.00/SF
− Vacancy
−$16.4K −$3.36/SF
EGI
$100.7K $20.64/SF
− OpEx
−$25.2K −$5.16/SF
NOI
$75.5K $15.48/SF
Area
Carteret County, NC
Vacancy
14.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,510,840
Cap Rate 7%
$1,079,171
Cap Rate 9%
$839,356
Alternative Uses
Best Use
Office B
$1.08M
$944.3K – $1.26M
NOI $75,542 @ 7.0% cap · market cap 8.44%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.46M
$1.28M – $1.71M
NOI $102,480 @ 7.0% cap · market cap 11.45%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
964
Businesses Nearby
Explore this area
Business Placement
Demographics for 28557, NC
14,910
Population
9,168
Households
1.6
Avg Household Size
50
Median Age
40%
College-Educated
93%
High-School Grad
14.2 sq mi
ZIP Area
1,050
Density / Sq Mi
$67,753
Median Household Income
$38,534
Median Earnings
$1,143
Median Rent
$331,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - Office property with an available suite and additional occupied space for an owner-user or investor.
Where is this office building located?
The property is located at 305 Commerce Avenue Morehead City, NC.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: 4,880‑square‑foot office building; Brick construction; Built in 2000
