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Property profile & analytics
OFF-MARKET
Estimated value
$550,000
Office buildings
128 Riggs Rd Morehead City, NC 28557-6308
Individually Owned
3-yr Hold
Free & Clear
Property ID
US53-2926467
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1987
Construction
STEEL FRAME
Total area
8,400 SF
Lot
2.25 ac (97,923 SF)
APN
6366.10.36.8878000
UPID
US53-2926467
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
Current use
Occupant on record · Public records
-
Zar Countertops & Cabinets General Contractor Renovation Specialist
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$530k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$482k
Blend (final)
Blend
$550k
Owner & transaction history
David A Horton · 3 yrs held
David A Horton
since 2022
Last sale
$550,000
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$565,000
ML approach
$530,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$550k
Range $495k – $605k · ±10% · vs last sale $550k (Sep 22 2022)
Last sale anchor
$550k
Sep 22 2022
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
$65 / 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
$2,406
Tax year 2022
Assessed value
$519,509
Assessed 2024
Previous assessed
$519,509
+0.0% YoY
Effective rate
0.46%
On assessed value
Assessed land
$318,600
Assessed improvement
$200,909
Land market value
$318,600
Improvement market value
$200,909
Total market value
$519,509
Applied tax rate
30.0000
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
1987
Construction
STEEL FRAME
Heating
SPACE
Buildings
2
Stories
1
Total area
8,400 SF
Lot
2.25 ac (97,923 SF)
APN
6366.10.36.8878000
UPID
US53-2926467
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
Building & site characteristics
From public records
Year built
1987
Construction
STEEL FRAME
Heating
SPACE
Stories
1
Buildings
2
Lot
2.25 ac
Current owner
From public records · entity-resolved
David A Horton
Individual
Free & Clear · 3 yrs held
Mailing address
PO BOX 607, MOREHEAD CITY, NC 28557-0607
Ownership since
2022
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
Sep 22, 2022
$550,000
David A Horton
Robert Arthur Murray
Warranty Deed
—
Oct 4, 2019
—
Robert A Murray
Robert A Murray
Quit Claim Deed
related
—
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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