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    3918 Doctor Martin Luther King Junior Boulevard New Bern, NC 28562 New Bern, NC 28562

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    3918 Doctor Martin Luther King Junior Boulevard New Bern, NC 28562 New Bern, NC 28562

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    • Retail properties & Spaces
    For Lease
    $14 SF/Yr
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    3,600 Sqft on MLK Jr Blvd - New Bern For Lease
    $14 SF/Yr

    3,600 Sqft on MLK Jr Blvd - New Bern

    3,600 SF of Retail space for lease

    3918 Doctor Martin Luther King Junior Boulevard New Bern, NC 28562, New Bern, NC 28562
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    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 3918 Doctor Martin Luther King Junior Boulevard New Bern, NC 28562

    Property type
    Retail properties & Spaces
    Property subtype
    Retail residential properties

    Description

    Located in a high-visibility strip center on Dr.​ Martin Luther King Jr.​ Blvd in New Bern, this 3,600 SF end-cap unit is a premier leasing opportunity.​ Positioned at a lighted intersection that hosts Tractor Supply, Harbor Freight, a former Hardee’s location, and New Bern High School, this property benefits from average daily traffic of 22,500 vehicles, ensuring excellent exposure and accessibility.​ It has 2 bathrooms as well as double doors in the rear for loading/unloading convenience. Location Description Located in a high-visibility strip center on Dr.​ Martin Luther King Jr.​ Blvd in New Bern, this 3,600 SF end-cap unit is a premier leasing opportunity.​ Positioned at a lighted intersection that hosts Tractor Supply, Harbor Freight, a former Hardee’s location, and New Bern High School, this property benefits from average daily traffic of 22,500 vehicles, ensuring excellent exposure and accessibility.​ Highlights End Cap Unit Signature Signage Available Ample Parking Private Rear Access with double doors Open Floorplan

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    New Bern
    County
    State
    North Carolina
    Longitude
    -77.0441143
    Latitude
    35.108493

    Comparable in this City

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    • Value Estimation by Request
      700 SF

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      300,000 SF

      Glenburnie Rd

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    • Value Estimation by Request
      81,934 SF

      3036 M L King Jr Blvd

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    • Value Estimation by Request
      288,808 SF

      3134 Dr. M.l.k. Jr Blvd

      Restaurants • 288,808 SF
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    • Value Estimation by Request
      1,140 SF

      New Bern, NC 28562

      RETAIL STORES (PERSONAL SERVICES) • 1,140 SF
      New Bern, NC 28562
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      High-Visibility End-Cap Unit

      3,600 SF retail space in high-traffic New Bern location.
      3918 Doctor Martin Luther King Junior Blvd, New Bern, NC 28562
      View Details
    • $917,700
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      Freestanding Dollar General in New Bern

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      Absolute Net Lease Retail Property

      Retail property with absolute net lease and favorable rental increases.
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      Medical Office Building For Sale

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      Cleared Land Parcel For Sale

      Cleared land parcel available in a high-traffic location.
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    Similar Nearby for Lease

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      6,427 SF

      Retail Space in Prime Location

      Retail spaces available in high-traffic New Bern corridor.
      2061-2065 S Glenburnie Rd, New Bern, NC 28562
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      6,070 SF

      Retail Space in Prime Location

      Retail space available near major retailers and residential communities.
      2063 S Glenburnie Rd, New Bern, NC 28562
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      Retail Space in New Bern

      Retail space co-anchored by Harris Teeter and Home Goods.
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    • $3,260 /Mo
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      New Bern Commercial Space Available

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    • $500 /Mo
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      New Maxi Storage Space Available

      Newly built storage units for lease in New Bern, NC.
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      New Bern Commercial Flex Space

      Commercial flex space available for rent in New Bern, NC.
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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.

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    3918 Doctor Martin Luther King Junior Boulevard New Bern, NC 28562, New Bern, NC, 28562

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