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Property profile & analytics
OFF-MARKET
Estimated value
$625,000
Medical Office Space
202 Penny Ln Morehead City, NC 28557-2993
Entity Owned
3-yr Hold
Absentee Owner
Free & Clear
Property ID
US53-2508399
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1979
Construction
WOOD
Total area
6,825 SF
Lot
0.89 ac (38,594 SF)
Zoning code
MA
APN
6376.14.43.0129000
UPID
US53-2508399
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
-
Goshen Medical Center Morehead Medical Clinic
-
ExperienCare Medical Clinic
-
Dr. Jason Ross Alternative Medicine Practice
-
PerklandMD Tech Support Center (Bike/Boat/Book/etc) Store
-
Medical-Pharmacy Services (Bike/Boat/Book/etc) Store Pharmacy
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$610k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$770k
Blend (final)
Blend
$625k
Owner & transaction history
Goshen Medical Center INC · 3 yrs held
Goshen Medical Center INC
since 2022
Last sale
$623,500
2 recorded transactions
Zoning & alternative use
MA · Morehead City, 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 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
$640,000
ML approach
$610,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$960,000
Current use
Blend value · Realmo final
$625k
Range $563k – $688k · ±10% · vs last sale $624k (Oct 27 2022)
Last sale anchor
$624k
Oct 27 2022
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
$92 / 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
$2,660
Tax year 2022
Assessed value
$801,583
Assessed 2024
Previous assessed
$801,583
+0.0% YoY
Effective rate
0.33%
On assessed value
Assessed land
$188,328
Assessed improvement
$613,255
Land market value
$188,328
Improvement market value
$613,255
Total market value
$801,583
Applied tax rate
1,351.0000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1979
Construction
WOOD
Heating
HEAT PUMP
Buildings
3
Stories
1
Bathrooms
5
Total area
6,825 SF
Lot
0.89 ac (38,594 SF)
Zoning code
MA
APN
6376.14.43.0129000
UPID
US53-2508399
Jurisdiction
CARTERET
Zoning & alternative use
MA · Morehead City, NC
Zoning MA · permitted uses
MA · Morehead City, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Morehead City. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$960,000
MEDICAL BUILDING 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
1979
Construction
WOOD
Heating
HEAT PUMP
Stories
1
Buildings
3
Bathrooms
5
Lot
0.89 ac
Current owner
From public records · entity-resolved
Goshen Medical Center INC
Entity
Free & Clear · 3 yrs held
Mailing address
412 SW CTR ST, FAISON, NC 28341-8820
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
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
Oct 27, 2022
$623,500
Goshen Medical Center INC
Robert L Barnum
Warranty Deed
—
Oct 20, 2006
$230,000
Robert L Barnum
Robert O Barnum
Warranty Deed
related
$230,000 · Branch Banking And 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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