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    5192 Highway 70 W Morehead City, NC 28557

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    Claim this Listing
    For Lease
    $4,000/Mo $10 SF/Yr (calc)

    COMMERCIAL - Morehead City, NC

    Property size:
    4,614 SF
    Lot size:
    0.64 Acres
    Added:
    Mar 12, 2026
    Days on Market:
    50
    Last Refresh:
    Apr 30 at 12:06 pm

    Property Features for 5192 Highway 70 W

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Zoning
    Commercial
    Standard status
    Active
    APN
    635612871208000
    Size
    4,614 SF
    Lot size
    0.64 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    L39 40 Braemer CO
    Tax Annual Amount
    1772
    Expense value
    4000
    Expense
    SecurityDeposit
    Expense freq.
    One Time

    Utilities

    Heating system
    Electric (Heating), Heat Pump (Heating)
    Cooling system
    Heat Pump
    Water source
    Public

    We can help!

    Listing Contact
    Gray Blount Busch

    Listing agent Gray Blount Busch License #318833

    Listing office Al Williams Properties PO Box 2385, ATLANTIC BEACH, NC

    Listing date Mar 12, 2026

    MLS# 100559817

    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.

    Overview

    Highway 70 Warehouse For Lease

    Commercial warehouse space is available for lease. The property, situated on 0.64 acres, features a large open warehouse area with high ceilings and roll-up loading door access. It also includes mezzanine storage and workspace, office space, a kitchenette or breakroom, and a bathroom. The property is located on Highway 70 W, providing easy access across town and to surrounding Crystal Coast communities. The 4,614 square feet space is suitable for contractors, marine businesses, storage, or light commercial operations.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office Units

    Suggested Use

    Restaurant Real Estate Agency Law Firm Dental Office Spa & Massage Center Building Supply Big Box & Wholesale Store Auto Repair Shop Hair Salon Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Stow-A-Way Mini Storage — 5101 us-70, morehead city, nc 28557
    • Dini’s Self Storage - Byrd Street — 105 Byrd St, Morehead City, NC 28557
    • Secure Store Storage — 5285 Hwy 70 W, Morehead City, NC 28557
    • Little 9 Storage — 112 Little 9 Rd, Morehead City, NC 28557
    • Captain Nat's — 107 Horton Dr, Morehead City, NC 28557

    Location Insight

    • Map
    • Local Demand
    City
    Morehead City
    County
    Carteret
    State
    North Carolina
    Longitude
    -76.808935
    Latitude
    34.739377

    Nearby Similar for Lease

    • $1,700/Mo

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      Former Kmart Retail Space Available

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      Retail Space in Cypress Bay

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      Retail Space Available for Rent

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    FAQs

    What type of property is this?
    Warehouse - Commercial warehouse space with office, kitchenette, and mezzanine.
    Where is this warehouse located?
    The property is located at 5192 Highway 70 W Morehead City, NC.
    What is the lease rate?
    The lease rate is $4,000 /Mo.
    What are key features of this property?
    This property features: Excellent Highway 70 W location with easy access to Morehead City and Crystal Coast communities.; Large open warehouse area with high ceilings.; Roll‑up loading door access.
    (252) 726-8800
    We can help!
    Listing Contact
    Gray Blount Busch
    Real Estate License ID: 318833
    Learn More
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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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