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Property profile & analytics
OFF-MARKET
Estimated value
$910,000
Warehouses
1213 20th St, Morehead City, NC 28557
Individually Owned
2-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US53-2757986
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
2008
Construction
STEEL FRAME
Total area
3,375 SF
Lot
0.45 ac (19,471 SF)
APN
6386.09.16.3990000
UPID
US53-2757986
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
$815k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$910k
Owner & transaction history
Morehead Climate Controlled Self St · 2 yrs held
Morehead Climate Controlled Self St
since 2023
Last sale
$1.0M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$840,000
+149.2%
Retail stores
$595,000
+76.0%
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
$825,000
ML approach
$815,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$840,000
Change: +149% · Conversion: Difficult
RETAIL STORES
$595,000
Change: +76% · Conversion: Moderate
Blend value · Realmo final
$910k
Range $819k – $1.00M · ±10% · vs last sale $1.00M (Nov 13 2023)
Last sale anchor
$1.00M
Nov 13 2023
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
$270 / 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
Tax billed
$866
Tax year 2022
Assessed value
$257,845
Assessed 2024
Previous assessed
$257,845
+0.0% YoY
Effective rate
0.34%
On assessed value
Assessed land
$150,000
Assessed improvement
$107,845
Land market value
$150,000
Improvement market value
$107,845
Total market value
$257,845
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
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
2008
Construction
STEEL FRAME
Heating
NONE
Buildings
3
Total area
3,375 SF
Lot
0.45 ac (19,471 SF)
APN
6386.09.16.3990000
UPID
US53-2757986
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
COMMERCIAL (GENERAL)
Est. value
$840,000
RETAIL STORES
Est. value
$595,000
COMMERCIAL (GENERAL)
RETAIL STORES
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
2008
Construction
STEEL FRAME
Heating
NONE
Buildings
3
Lot
0.45 ac
Current owner
From public records · entity-resolved
Morehead Climate Controlled Self St
Individual
Mailing address
1400 DILLS CRK LN STE #405, MOREHEAD CITY, NC 28557-4750
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 13, 2023
$1,000,000
Morehead Climate Controlled Self St
Benian LLC
Special Warranty Deed
$700,000 · Benlan LLC
Feb 3, 2021
—
Benlan LLC
—
Deed
related
$372,000 · Truist Bank
Dec 31, 2013
—
Benlan LLC
—
Loan Modification
related
$1,094,156 · Wells Fargo Bank
Sep 24, 2008
—
Benlan LLC
Larry M Land
Deed
—
Apr 24, 2008
$100,000
Benlan LLC
Larry M Land
Warranty Deed
$193,250 · First Citizens Bank & Trust Co
Mar 7, 2005
—
Larry M Land
Laben LLC
Warranty Deed
—
—
—
Benlan LLC
—
Deed Of Trust
related
$166,210 · Wells Fargo Bank
—
—
Benlan LLC
—
Deed Of Trust
related
$100,000 · Larry M Land
—
—
Belan LLC
—
Loan Modification
related
$193,250 · First Citizens Bank & Trust Co
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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