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Property profile & analytics
OFF-MARKET
Drug stores
129 9th Foot Rd Newport, NC 28570-9251
Entity Owned
19-yr Hold
Absentee Owner
Free & Clear
Property ID
US53-3328556
Property summary
AI-generated overview
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.
Property profile
Verified
Property type
Drug stores
Use group
DRUG STORE, PHARMACY
Year built
2011
Construction
WOOD
Total area
2,834 SF
Lot
0.42 ac (18,121 SF)
Zoning code
CH
APN
6338.15.74.1923000
UPID
US53-3328556
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
-
CVS Photo (Bike/Boat/Book/etc) Store
-
CVS Pharmacy
-
CVS Pharmacy Pharmacy
-
Coinhub Bitcoin ATM Teller Atm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Fishing Creek Properties LLC · 19 yrs held
Fishing Creek Properties LLC
since 2007
4 recorded transactions
Zoning & alternative use
CH · Newport, NC
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 Newport submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Newport 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$956
Tax year 2022
Assessed value
$285,149
Assessed 2024
Previous assessed
$285,149
+0.0% YoY
Effective rate
0.34%
On assessed value
Assessed land
$56,695
Assessed improvement
$228,454
Land market value
$56,695
Improvement market value
$228,454
Total market value
$285,149
Applied tax rate
1,460.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Drug stores
Use group
DRUG STORE, PHARMACY
Status
Off-Market
Year built
2011
Construction
WOOD
Heating
NONE
Total area
2,834 SF
Lot
0.42 ac (18,121 SF)
Zoning code
CH
APN
6338.15.74.1923000
UPID
US53-3328556
Jurisdiction
CARTERET
Zoning & alternative use
CH · Newport, NC
Zoning CH · permitted uses
CH · Newport, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Newport. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
2011
Construction
WOOD
Heating
NONE
Lot
0.42 ac
Current owner
From public records · entity-resolved
Fishing Creek Properties LLC
Entity
Free & Clear · 19 yrs held
Mailing address
365 PAMLICO ST, BELHAVEN, NC 27810-1419
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 6, 2011
—
Fishing Creek Properties LLC
—
Trustees Deed
related
$325,000 · East Carolina Bank
Jun 15, 2007
$218,000
Fishing Creek Properties LLC
Gray,edith
Warranty Deed
—
—
—
Fishing Creek Properties LLC
—
Deed Of Trust
related
$850,000 · East Carolina Bank
—
—
Fishing Creek Properties LLC
—
Deed Of Trust
related
$1,000,000 · 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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