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Property profile & analytics
FOR SALE
Office buildings
1875 N 20Th St Morehead City, NC 28557
Entity Owned
1-yr Hold
Absentee Owner
Free & Clear
Property ID
US53-3151940
For Sale
1 / 6
$990,000
1875 N 20Th St, Morehead City, NC 28557
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1978
Construction
WOOD
Total area
3,648 SF
Lot
6.17 ac (268,765 SF)
APN
6387.17.12.5300000
UPID
US53-3151940
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
$525k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$543k
Blend (final)
Blend
$525k
Owner & transaction history
Bwp Carteret LLC · 1 yrs held
Bwp Carteret LLC
since 2024
Last sale
$525,000
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$640,000
+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
$525,000
ML approach
$525,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$570,000
Current use
RETAIL STORES
$640,000
Change: +13% · Conversion: Moderate
MEDICAL BUILDING
$510,000
Change: -10% · Conversion: Easy
Blend value · Realmo final
$525k
Range $473k – $578k · ±10% · vs last sale $525k (Dec 20 2024)
Last sale anchor
$525k
Dec 20 2024
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
$144 / 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
$483,573
Assessed 2024
Previous assessed
$483,573
+0.0% YoY
Assessed land
$271,480
Assessed improvement
$212,093
Land market value
$271,480
Improvement market value
$212,093
Total market value
$483,573
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
For Sale
Year built
1978
Construction
WOOD
Heating
HEAT PUMP
Stories
1
Bathrooms
2
Total area
3,648 SF
Lot
6.17 ac (268,765 SF)
APN
6387.17.12.5300000
UPID
US53-3151940
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
$570,000
RETAIL STORES
Est. value
$640,000
MEDICAL BUILDING
Est. value
$510,000
OFFICE BUILDING Current
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
1978
Construction
WOOD
Heating
HEAT PUMP
Stories
1
Bathrooms
2
Lot
6.17 ac
Current owner
From public records · entity-resolved
Bwp Carteret LLC
Entity
Free & Clear · 1 yrs held
Mailing address
14111 CAPITAL BLVD, WAKE FOREST, NC 27587-7055
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
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
Dec 20, 2024
—
Bwp Carteret LLC
Brightspeed Ofn Eastern Nc LLC
Deed
—
Dec 20, 2024
$525,000
Bwp Carteret LLC
Brightspeed Of Eastern Nc LLC
Special Warranty Deed
$446,250 · The Fidelity Bank
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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