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Property profile & analytics
OFF-MARKET
Estimated value
$510,000
Grocery and convenience stores
1884 Hwy 24 Newport, NC 28570
Entity Owned
Absentee Owner
~
Est. High Equity
Property ID
US53-2643535
Property profile
Verified
Property type
Grocery and convenience stores
Use group
CONVENIENCE STORE
Year built
1998
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
2,576 SF
Lot
2.3 ac (100,319 SF)
Zoning code
B1
APN
6336.03.33.8398000
UPID
US53-2643535
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
by Request
CAP Approach
CAP
$520k
Comparable Approach
Comparable
$504k
Blend (final)
Blend
$510k
Owner & transaction history
J M Davis Industries INC
J M Davis Industries INC
since 2026
5 recorded transactions
Zoning & alternative use
B1 · Newport, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$365,000
+228.6%
Office building
$340,000
+207.5%
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
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$560,000
6.5%
$520,000
7%
$480,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$365,000
Change: +229% · Conversion: Easy
OFFICE BUILDING
$340,000
Change: +208% · Conversion: Moderate
Blend value · Realmo final
$510k
Range $459k – $561k · ±10%
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
$198 / 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
$2,197
Tax year 2022
Assessed value
$493,970
Assessed 2024
Previous assessed
$493,970
+0.0% YoY
Effective rate
0.44%
On assessed value
Assessed land
$207,046
Assessed improvement
$286,924
Land market value
$207,046
Improvement market value
$286,924
Total market value
$493,970
Applied tax rate
31.0000
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
Grocery and convenience stores
Use group
CONVENIENCE STORE
Status
Off-Market
Year built
1998
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Stories
1
Bathrooms
2
Total area
2,576 SF
Lot
2.3 ac (100,319 SF)
Zoning code
B1
APN
6336.03.33.8398000
UPID
US53-2643535
Jurisdiction
CARTERET
Zoning & alternative use
B1 · Newport, NC
Zoning B1 · permitted uses
B1 · 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.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL)
Est. value
$365,000
OFFICE BUILDING
Est. value
$340,000
COMMERCIAL (GENERAL)
OFFICE 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
1998
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Stories
1
Bathrooms
2
Lot
2.3 ac
Current owner
From public records · entity-resolved
J M Davis Industries INC
Entity
Mailing address
812 ARENDELL ST, MOREHEAD CITY, NC 28557-4235
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 26, 2026
—
J M Davis Industries INC
—
Deed
related
$1,075,000 · Blueharbor Bank
Apr 21, 2017
—
J M Davis Industries INC
—
Deed
related
$700,000 · Branch Bk&tr
—
—
J M Davis Industries INC
—
Deed Of Trust
related
$1,560,000 · Branch Banking & Trust Co
—
—
J M Davis Industries INC
—
Deed Of Trust
related
$700,000 · Branch Bk&tr
—
—
J,m Davis Industries INC
—
Deed Of Trust
related
$787,000 · First Citizens Bank & Trust
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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