Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    129 9th Foot Rd Newport, NC 28570-9251
    Back to Search
    Property profile & analytics

    129 9th Foot Rd, Newport, NC 28570-9251

    View on Map
    • Drug stores
    • 2,834 SF
    • 0.42 lot acres
    Off-Market
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • CVS Photo / (Bike/Boat/Book/etc) Store
    • CVS / Pharmacy
    • CVS Pharmacy / Pharmacy
    • Coinhub Bitcoin ATM Teller / Atm

    Property Details for 129 9th Foot Rd

    Year built
    2011
    Construction
    WOOD
    Lot size
    0.42 lot acres
    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 Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    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
      1,816 SF

      711 Chatham St

      CONVENIENCE STORE
      711 Chatham St, Newport, NC 28570-6907
      View Details
    • Value Estimation by Request
      1,914 SF

      119 Old Winberry Rd

      CONVENIENCE STORE
      119 Old Winberry Rd, Newport, NC 28570-6139
      View Details
    • Value Estimation by Request
      2,400 SF

      1211 Hwy 24

      SHOW ROOM, WAREHOUSE
      1211 Hwy 24, Newport, NC 28570-8144
      View Details
    • Value Estimation by Request
      4,300 SF

      Newport, NC 28570

      RETAIL STORES (PERSONAL SERVICES)
      Newport, NC 28570
      View Details
    • Value Estimation by Request
      3,365 SF

      1553 Hwy 24

      RETAIL STORES (PERSONAL SERVICES)
      1553 Hwy 24, Newport, NC 28570-8104
      View Details
    • Value Estimation
      $1,395,000
      13,080 SF

      2845 Hwy 24

      RETAIL STORES (PERSONAL SERVICES)
      2845 Hwy 24, Newport, NC 28570
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      2,834 SF

      Retail Space For Sale

      Retail space available for purchase, offering a 7.00% CAP.
      129 Nine Foot Rd, Newport, NC 28570
      View Details
    • $225,000
      3.00 Acres

      Versatile Land in Mill Creek

      3-acre property with commercial building and agricultural amenities.
      3115 Mill Creek Rd, Newport, NC 28570
      View Details
    • Contact for pricing

      Prime Commercial Property on Highway

      8.49-acre commercial property with highway access and security features.
      5621 Us Highway 70, Newport, NC 28570
      View Details
    • $350,000

      Highway Commercial Development Opportunity

      1.02-acre commercial lot ready for development near future I-42.
      313 Roberts Rd, Newport, NC 28570
      View Details
    • $400,000
      0.81 Acres

      Commercial Land with Highway Access

      Two parcels of commercial land with high visibility and access.
      812 E Chatham St, Newport, NC 28570
      View Details
    • $67,500
      0.57 Acres

      Residential Land with Septic & Well

      Residential land with existing septic and well in Newport, NC.
      127 Lee St, Newport, NC 28570
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    129 9th Foot Rd
    Newport, NC 28570-9251
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    129 9th Foot Rd, Newport, NC, 28570
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!