Two-Story Office
For Sale
$1,175,000
4725 Country Club Road, Morehead City, NC 28557
Flexible office layout with private rooms, lab areas, reception, kitchen, and multiple restrooms.
Property Size3,881 SF
Price / SF$302.76
Days on Market96
Property Features for 4725 Country Club Road
General Information
Standard status
Active
Size
3,881 SF
Total Parking Spaces
30
Property subtype
Commercial
Zoning
comm
Building Details
Building Size
3,881 SF
Year Built
2008
Buildings
1
Stories
2
Units
1
Listing Agency:
eXp Realty
(252) 659-2013
Listed By:
Meredith L Reilly · License #158116
(252) 659-2013
Source:
Frankerealproperties
Added: May 6
Changed: Aug 7
Last Checked: Aug 9 at 1:19PM
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 eXp Realty
Investment Insights
Based on property information with market context.
Built in 2008, this 3,881-square-foot office building offers a two-level configuration with a broad mix of private and shared spaces. The first floor includes a reception area, 4–5 private offices or treatment rooms, two lab areas, a kitchen and break room, and multiple restrooms. Upstairs are two generously sized offices and a full bathroom.
The property at 4725 Country Club Road in Morehead City is zoned comm. It was previously used as medical offices and includes improvements such as luxury vinyl plank flooring and fresh interior paint throughout most of the building. New HVAC air handlers are scheduled for installation the week of June 15th, adding to the building’s functional office setup.
The property at 4725 Country Club Road in Morehead City is zoned comm. It was previously used as medical offices and includes improvements such as luxury vinyl plank flooring and fresh interior paint throughout most of the building. New HVAC air handlers are scheduled for installation the week of June 15th, adding to the building’s functional office setup.
Key Highlights
- 3,881‑square‑foot office building on two floors
- First floor includes 4–5 private offices or treatment rooms
- Two designated lab areas, kitchen/break room, and multiple restrooms
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
$60,078
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
5.11%
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%
$1,201,560
$1.2M
Cap Rate 7%
$858,257
$858.3K
Cap Rate 9%
$667,533
$667.5K
Market Conditions
NOI Build-Up for 3,881 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
$93.1K $24.00/SF
− Vacancy
−$13.0K −$3.36/SF
EGI
$80.1K $20.64/SF
− OpEx
−$20.0K −$5.16/SF
NOI
$60.1K $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%
$1,201,560
Cap Rate 7%
$858,257
Cap Rate 9%
$667,533
Alternative Uses
Best Use
Office B
$858.3K
$751.0K – $1.00M
NOI $60,078 @ 7.0% cap · market cap 5.11%
Second Best
Healthcare Medical
$657.5K
$575.3K – $767.0K
NOI $46,022 @ 7.0% cap · market cap 3.92%
Theoretical Best
Office A
$1.16M
$1.02M – $1.36M
NOI $81,501 @ 7.0% cap · market cap 6.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
29
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Flexible office layout with private rooms, lab areas, reception, kitchen, and multiple restrooms.
Where is this office building located?
The property is located at 4725 Country Club Road Morehead City, NC.
What is the asking price?
The asking price for this property is $1,175,000.
What are key features of this property?
This property features: 3,881‑square‑foot office building on two floors; First floor includes 4–5 private offices or treatment rooms; Two designated lab areas, kitchen/break room, and multiple restrooms
