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Property profile & analytics
OFF-MARKET
Estimated value
$690,000
Turn key restaurants
202 Middle St, New Bern, NC 28560-2142
Entity Owned
1-yr Hold
Free & Clear
Property ID
US53-3598967
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1900
Construction
WOOD
Total area
3,360 SF
Lot
0.05 ac (2,091 SF)
APN
8-001-C -108
UPID
US53-3598967
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
-
Stubb’s Pub Bar & Pub
-
Captain Ratty's Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$785k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$729k
Blend (final)
Blend
$690k
Owner & transaction history
Middle Street LLC · 1 yrs held
Middle Street LLC
since 2025
Last sale
$600,000
4 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 New Bern submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs New Bern 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
$730,000
ML approach
$785,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$1,110,000
Current use
Blend value · Realmo final
$690k
Range $621k – $759k · ±10% · vs last sale $600k (Aug 17 2020)
Last sale anchor
$600k
Aug 17 2020
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
$205 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$3,538
Tax year 2024
Assessed value
$373,560
Assessed 2024
Previous assessed
$373,560
+0.0% YoY
Effective rate
0.95%
On assessed value
Assessed land
$88,860
Assessed improvement
$284,700
Land market value
$88,860
Improvement market value
$284,700
Total market value
$373,560
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1900
Construction
WOOD
Heating
HEAT PUMP
Stories
2
Total area
3,360 SF
Lot
0.05 ac (2,091 SF)
APN
8-001-C -108
UPID
US53-3598967
Jurisdiction
CRAVEN
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
RESTAURANT Current
Est. value
$1.1M
RESTAURANT Current
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
1900
Construction
WOOD
Heating
HEAT PUMP
Stories
2
Lot
0.05 ac
Current owner
From public records · entity-resolved
Middle Street LLC
Entity
Free & Clear · 1 yrs held
Mailing address
PO BOX 1654, NEW BERN, NC 28563-1654
Ownership since
2025
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
Jul 1, 2025
$950,000
Middle Street LLC
All American Real Estate Company Ll
Special Warranty Deed
—
Aug 17, 2020
$600,000
All American Real Estate Company Ll
Thomas W Ballance III
Special Warranty Deed
$440,000 · Ubank
Aug 6, 2018
—
Thomas W Balance III
—
Deed
related
$470,000 · Union Bank
Jan 22, 2018
—
Hunt Imaging INC
—
Deed
related
$15,250 · Union 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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