Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    403 35Th St Morehead City, NC 28557

    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Prime Medical/Creative Office Space

    Property size:
    2,318 SF

    Property Features for 403 35Th St

    General Information

    Property type
    Medical offices
    Square Feet
    2,318 SF
    Class
    B
    Lot Size
    13,068 SF

    Building Details

    Year Built/Renovated
    1996/2019
    Buildings
    1
    Stories
    2

    We can help!

    Listing Contact
    Matthew Johnson
    Matthew Johnson

    Listing Agent: Matthew Johnson

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    This exceptional 2,318 square foot office building, situated on a 0.3-acre lot in Morehead City, North Carolina, presents a unique owner-user opportunity. Built in 1996 and renovated in 2019, this Class B property boasts a convenient location, less than half a mile from the local hospital and Highway 70. The building features a versatile layout, including five offices of varying sizes, a kitchenette, and a full bathroom on the main level. The second floor offers four additional offices and a half-bath, accessible via both an internal and an external staircase. The property is zoned OP and is currently vacant, providing immediate occupancy for a new owner. The building's 2-story design offers ample space for a variety of uses, making it ideal for medical practices or creative businesses. The property's address is 403 N 35th St, Morehead City, NC 28557, and its APN is 637614444051000. This is a rare chance to acquire a well-maintained, conveniently located office building in a thriving coastal community. The asking price is $420,000.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    The Clinic Physician

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Morehead City
    County
    Carteret
    State
    North Carolina
    Longitude
    -76.7547789
    Latitude
    34.729471

    Nearby Similar for Sale

    • $563,900
      3,644 SF

      Income Property in Morehead City

      Income-producing property with five separate units in a prime location.
      106 N 9Th St, Morehead City, NC 28557
      View Details
    • Contact for pricing
      1,030 SF

      Updated Townhome in Central Location

      Updated 2BR/1.5BA townhome near shopping, dining, and water access.
      3200 Crystal Oaks Ln, Morehead City, NC 28557
      View Details
    • Contact for pricing
      5,880 SF

      Downtown Morehead City Office Space

      Office space for lease in downtown Morehead City.
      911 Arendell St, Morehead City, NC 28557
      View Details
    • $1,100,000

      Restaurant Ready Building For Sale

      Restaurant-ready building with kitchen and walk-in coolers for sale.
      3010 Arendell St, Morehead City, NC 28557
      View Details
    • $1,750,000
      5,540 SF

      Morehead City Mixed-Use Gem

      Historic Downtown B&B, Huge Potential
      500 Arendell St, Morehead City, NC 28557
      View Details
    • $2,550,000
      13,813 SF

      2904 Arendell St

      Lifestyle centers • 13,813 SF
      2904 Arendell St, Morehead City, NC 28557
      View Details
    • $450,000
      2,248 SF

      Morehead City Retail Corner Lot

      High-traffic Hwy 70 E retail space. Vacant, ready for your business.
      4415 Arendell St, Morehead City, NC 28557
      View Details

    FAQs

    What type of property is this?
    Medical office - Prime Medical/Creative Office Space
    Where is this medical office located?
    The property is located at 403 35Th St Morehead City, NC.
    What is the asking price?
    The asking price for this property is $420,000.
    What are key features of this property?
    This property features: $420,000 asking price for this vacant, owner-user opportunity.; 2,318 square feet of Class B office space, suitable for creative or medical use.; Located at 403 N 35th St, Morehead City, NC 28557, on a 0.3-acre lot (APN: 637614444051000).
    (980) 580-7469 Call to check price and availability
    Request Owner's contact information
    403 35Th St Morehead City, NC 28557
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    403 35Th St
    Morehead City, NC 28557
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    403 35Th St Morehead City, NC 28557
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Matthew Johnson
    Matthew Johnson
    Real Estate License ID: 251018
    (980) 580-7469 (252) 269-9172 (252) 354-3900
    Learn more
    Google sign-in failed. Please try again or use another login method.