Brick Office
305 Commerce Avenue, Morehead City, NC 28557
For Sale
$895,000
Under Contract
Commercial Sale, Morehead City, NC
Property Size4,880 SF
Lot Size0.31 Acres
Price / SF$183.40
Days on Market337
Property Features for 305 Commerce Avenue
General Information
Property type
Property subtype
Zoning
Parking features
Subdivision
Lot features
Directions
Standard status
APN
Size
Lot size
Additional Details
Tenant in Place
Taxes and HOA fees
Tax Year
Tax Description
Legal Description
Utilities
Utilities
Heating system
Cooling system
Water source
Building Details
Year built
Flooring type
Building materials
Roof type
Listing Agency:
Coldwell Banker Sea Coast AB
(252) 247-7600
Listed By:
Bailey Basnight Real Estate · License NC #281517
(252) 515-0502
Added: Dec 9, 2025
Changed: Oct 31
Last Checked: Nov 10 at 7:06PM
MLS# 100544694
Copyright © 2026 Hive MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 4,880-square-foot office building occupies 0.31 acres and was built in 2000. Brick veneer construction, tile and carpet flooring, central air, electric heat, and a heat pump serve the interior. Off-street parking and a shingle roof are also included.
The property is located at 305 Commerce Avenue in Morehead City, North Carolina, within Carteret County. Public water is available, and the site is zoned Commercial. One suite is vacant, while the balance of the building is occupied, creating a configuration suited to an owner-user seeking office space alongside existing tenancy.
The property is located at 305 Commerce Avenue in Morehead City, North Carolina, within Carteret County. Public water is available, and the site is zoned Commercial. One suite is vacant, while the balance of the building is occupied, creating a configuration suited to an owner-user seeking office space alongside existing tenancy.
Key Highlights
- 4,880‑square‑foot office building on 0.31 acres
- One vacant suite with additional occupied space
- Commercial zoning
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.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
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
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - Commercial-zoned office property with one vacant suite and additional occupied space.
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 on 0.31 acres; One vacant suite with additional occupied space; Commercial zoning
