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Property profile & analytics
OFF-MARKET
Estimated value
$880,000
Office buildings
106 Banks St Morehead City, NC 28557-2911
Individually Owned
18-yr Hold
Absentee Owner
Free & Clear
Property ID
US53-3342051
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2009
Construction
STEEL FRAME
Total area
6,432 SF
Lot
0.94 ac (41,077 SF)
APN
6376.18.22.8180000
UPID
US53-3342051
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$923k
Blend (final)
Blend
$880k
Owner & transaction history
Board Of Tes & Carteret Cmnty Clg · 18 yrs held
Board Of Tes & Carteret Cmnty Clg
since 2007
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.4M
+43.5%
Retail stores
$1.1M
+13.1%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Morehead City submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Morehead City submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,000,000
Current use
RESTAURANT
$1,435,000
Change: +43% · Conversion: Moderate
RETAIL STORES
$1,135,000
Change: +13% · Conversion: Moderate
MEDICAL BUILDING
$905,000
Change: -10% · Conversion: Easy
Blend value · Realmo final
$880k
Range $792k – $968k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$137 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Assessed value
$822,086
Assessed 2024
Previous assessed
$822,086
+0.0% YoY
Assessed land
$678,400
Assessed improvement
$143,686
Land market value
$678,400
Improvement market value
$143,686
Total market value
$822,086
Applied tax rate
1,351.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
2009
Construction
STEEL FRAME
Heating
HEAT PUMP
Cooling
CENTRAL
Buildings
2
Stories
1
Bathrooms
4
Total area
6,432 SF
Lot
0.94 ac (41,077 SF)
APN
6376.18.22.8180000
UPID
US53-3342051
Jurisdiction
CARTERET
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$1.0M
RESTAURANT
Est. value
$1.4M
RETAIL STORES
Est. value
$1.1M
MEDICAL BUILDING
Est. value
$905,000
OFFICE BUILDING Current
RESTAURANT
RETAIL STORES
MEDICAL BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2009
Construction
STEEL FRAME
Heating
HEAT PUMP
Cooling
Yes
Stories
1
Buildings
2
Bathrooms
4
Lot
0.94 ac
Current owner
From public records · entity-resolved
Board Of Tes & Carteret Cmnty Clg
Individual
Free & Clear · 18 yrs held
Mailing address
3505 ARENDELL ST, MOREHEAD CITY, NC 28557-2905
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2007
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 29, 2007
—
Board Of Tes & Carteret Cmnty Clg
Carteret Cmnty Clg Foun INC
Quit Claim Deed
related
—
Aug 15, 2007
—
Carteret Community Clg Foun
Pagano,paul
Warranty Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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