Corner Retail-Office
For Sale
Contact for pricing
Pending
4415 Arendell St, Morehead City, NC 28557
Retail and office property on Arendell Street with corner frontage and 12 parking spaces.
Property Size2,248 SF
Days on Market1381
Property Features for 4415 Arendell St
General Information
Standard status
Pending
Size
2,248 SF
Total Parking Spaces
12
Property subtype
RETAIL
Zoning
CH
Site & Location
Traffic Count
34,500 vehicles/day
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Listing Agency:
SVN Efird Commercial Real Esta
(910) 769-1915
Listed By:
Win Edwards · License ##243984
(252) 560-9472
Source:
Moodyscre
Added: Dec 3, 2022
Changed: Sep 10
Last Checked: Sep 13 at 11:49AM
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 SVN Efird Commercial Real Esta
Investment Insights
Based on property information with market context.
This corner retail and office property offers combined commercial space with road-facing presence on Arendell Street. The site includes frontage on both Arendell Street and Lake Avenue, supported by 12 parking spaces and city water and sewer service. The property is described as having been previously used for a pet boarding and grooming business.
The location is on Highway 70 East in Morehead City, NC, with over 125 feet of road frontage on Arendell Street. Reported average daily traffic is 34,500 vehicles per day according to NCDOT, providing strong visibility from the area’s main thoroughfare.
The property is zoned CH—Highway Commercial, and it is positioned for convenient access given its street-front configuration and dedicated parking on site.
The location is on Highway 70 East in Morehead City, NC, with over 125 feet of road frontage on Arendell Street. Reported average daily traffic is 34,500 vehicles per day according to NCDOT, providing strong visibility from the area’s main thoroughfare.
The property is zoned CH—Highway Commercial, and it is positioned for convenient access given its street-front configuration and dedicated parking on site.
Key Highlights
- Retail/office location on Hwy 70 East in Morehead City, NC
- Corner property with frontage on Arendell Street and Lake Avenue
- Over 125+/- ft of road frontage on Arendell Street
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$34,799
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.73%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$695,980
$696.0K
Cap Rate 7%
$497,129
$497.1K
Cap Rate 9%
$386,656
$386.7K
Market Conditions
NOI Build-Up for 2,248 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$54.0K $24.00/SF
− Vacancy
−$7.6K −$3.36/SF
EGI
$46.4K $20.64/SF
− OpEx
−$11.6K −$5.16/SF
NOI
$34.8K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$695,980
Cap Rate 7%
$497,129
Cap Rate 9%
$386,656
Alternative Uses
Best Use
Office B
$497.1K
$435.0K – $580.0K
NOI $34,799 @ 7.0% cap · market cap 7.73%
Second Best
Retail
$372.3K
$325.7K – $434.3K
NOI $26,059 @ 7.0% cap · market cap 5.79%
Theoretical Best
Office A
$674.4K
$590.1K – $786.8K
NOI $47,208 @ 7.0% cap · market cap 10.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
34,500 VPD
Traffic count
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
431
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail space - Retail and office property on Arendell Street with corner frontage and 12 parking spaces.
Where is this retail space located?
The property is located at 4415 Arendell St Morehead City, NC.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Retail/office location on Hwy 70 East in Morehead City, NC; Corner property with frontage on Arendell Street and Lake Avenue; Over 125+/- ft of road frontage on Arendell Street
