Two-Story Office
For Sale
$995,000
608 Arendell Street, Morehead City, NC 28557
DB-zoned commercial property with flexible rooms, kitchen facilities, and a climate-controlled garage in the waterfront district.
Property Size2,380 SF
Price / SF$418.07
Days on Market176
Property Features for 608 Arendell Street
General Information
Standard status
Active
Size
2,380 SF
Property subtype
Office
Zoning
DB
Amenities
private rear yard
dedicated workshop and storage area
heated and cooled one-car garage
water views
Building Details
Building Size
2,380 SF
Year Built
1910
Buildings
1
Stories
2
Listing Agency:
Hamad Realty
Listed By:
Samer Hamad · License #188498
(252) 342-9294
Source:
Lindarike
Added: Apr 23
Changed: Oct 9
Last Checked: Oct 13 at 2:48AM
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 Hamad Realty
Investment Insights
Based on property information with market context.
This 2,380-square-foot office property occupies a two-story commercial building constructed in 1910. The interior includes four private offices, consultation rooms, or treatment areas, along with two restrooms and a full kitchen with break-room function. A private rear yard, workshop, storage area, and heated and cooled one-car garage add useful support space for operations and inventory.
The property is located at 608 Arendell St in Morehead City’s Waterfront District, directly across from City Park and offering water views. DB, or Downtown Business, zoning accommodates office, specialized spa, medical practice, and boutique retail uses. Dedicated residential use requires approval of a Special Use Permit from Morehead City.
The property is located at 608 Arendell St in Morehead City’s Waterfront District, directly across from City Park and offering water views. DB, or Downtown Business, zoning accommodates office, specialized spa, medical practice, and boutique retail uses. Dedicated residential use requires approval of a Special Use Permit from Morehead City.
Key Highlights
- 2,380 SF two‑story office building constructed in 1910
- Four private offices, consultation rooms, or treatment areas
- Two restrooms plus a full kitchen and break room
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,842
Cap Rate
3.70%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$736,840
$736.8K
Cap Rate 7%
$526,314
$526.3K
Cap Rate 9%
$409,356
$409.4K
Market Conditions
NOI Build-Up for 2,380 SF
Gross rent
$57.1K $24.00/SF
− Vacancy
−$8.0K −$3.36/SF
EGI
$49.1K $20.64/SF
− OpEx
−$12.3K −$5.16/SF
NOI
$36.8K $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 Rate 5%
$736,840
Cap Rate 7%
$526,314
Cap Rate 9%
$409,356
Alternative Uses
Best Use
Office B
$526.3K
$460.5K – $614.0K
NOI $36,842 @ 7.0% cap · market cap 3.70%
Second Best
Healthcare Medical
$403.2K
$352.8K – $470.4K
NOI $28,223 @ 7.0% cap · market cap 2.84%
Theoretical Best
Office A
$714.0K
$624.8K – $833.0K
NOI $49,980 @ 7.0% cap · market cap 5.02%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
475
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
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office building - DB-zoned commercial property with flexible rooms, kitchen facilities, and a climate-controlled garage in the waterfront district.
Where is this office building located?
The property is located at 608 Arendell Street Morehead City, NC.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: 2,380 SF two‑story office building constructed in 1910; Four private offices, consultation rooms, or treatment areas; Two restrooms plus a full kitchen and break room
