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    129 Nine Foot Rd Newport, NC 28570

    • Drug stores
    • 2,834 SF
    • 0.42 lot acres
    For Sale
    View listing
    $1,115,136
    Value Estimation
    Location Intelligence
    Property ID
    US53-3328556
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • CVS Photo / Photo Lab / Photo Shop
    • CVS / Convenience Store / Cosmetics Store
    • CVS Pharmacy / Pharmacy
    • Coinhub Bitcoin ATM Teller / Atm

    Property Details for 129 Nine Foot Rd

    Year built
    2011
    Construction
    WOOD
    Lot size
    0.42 lot acres
    Property size
    2,834 SF
    Zone code
    CH
    Property type
    Drug stores
    APN
    6338.15.74.1923000
    APU
    633815741923000

    Description

    This exceptional investment opportunity presents a 2,834-square-foot CVS Pharmacy located at 129 Nine Foot Rd, Newport, NC 28570. Built in 2011, this property boasts a strong 6.25% cap rate and a substantial net operating income (NOI) of $69,696. The asking price is $1,115,136. Situated in a thriving retail corridor alongside national brands like Walmart, Food Lion, Subway, First Citizens Bank, Dollar General, and Bojangles, this location benefits from high visibility and significant foot traffic. The pharmacy enjoys a high script count and benefits from limited competition—being the only national brand pharmacy within a 10-mile radius. The property features a favorable option structure with a 10% increase in the next option period, beginning December 1st, 2024. This CVS location represents a secure and profitable investment in a desirable market. The property's strong tenant, CVS, holds a prominent position as the 5th ranked company on the Fortune 500 list, further solidifying its financial stability and long-term viability.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $270,000

    • CAP approach

      CAP return
      Estimation
      6%
      $185,000
      6.5%
      $205,000
      7%
      $215,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $170,000
      Geo Method
      $195,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $215,000
      Retail
      $200,000
      Mixed-Use
      $170,000
      Hospitality
      $175,000
      Educational
      $185,000
      Residential Income
      $220,000
      Energy
      $210,000
      Income-Based Land
      $195,000
      Food Service
      $205,000

    Location Insight

    • Map
    • Local Demand
    City
    Newport
    County
    Carteret
    State
    North Carolina
    Longitude
    -76.8775
    Latitude
    34.7892
    CBSA code
    33980
    CBSA name
    MOREHEAD CITY, NC MICROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $956
    $56,695
    $228,454
    $285,149
    -
    $56,695
    $228,454
    $285,149

    Comparable in this City

    • Value Estimation by Request
      2,664 SF

      234 Chatham St

      RETAIL STORES (PERSONAL SERVICES) • 2,664 SF
      234 Chatham St, Newport, NC 28570
      View Details
    • Value Estimation
      $480,000
      6,080 SF

      915 B Mclean Dr

      RETAIL STORES (PERSONAL SERVICES) • 6,080 SF
      915 B Mclean Dr, Bogue, NC 28570
      View Details
    • Value Estimation
      $285,000
      5,696 SF

      228 Chatham St

      RETAIL STORES (PERSONAL SERVICES) • 5,696 SF
      228 Chatham St, Newport, NC 28570-8515
      View Details
    • Value Estimation
      $125,000
      1,321 SF

      136 Chatham St

      RETAIL STORES (PERSONAL SERVICES) • 1,321 SF
      136 Chatham St, Newport, NC 28570-7904
      View Details
    • Value Estimation
      $490,000
      9,301 SF

      980 Hwy 24

      RETAIL STORES (PERSONAL SERVICES) • 9,301 SF
      980 Hwy 24, Newport, NC 28570-8137
      View Details
    • Value Estimation
      $425,000
      7,200 SF

      5316 Hwy 24

      SHOW ROOM, WAREHOUSE • 7,200 SF
      5316 Hwy 24, Bogue, NC 28570
      View Details

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    129 Nine Foot Rd
    Newport, NC 28570
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    Realmo Value Estimation

    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.

    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.

    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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