Back to Search
Property profile & analytics
FOR SALE
Medical Office Space
208 Penny Ln Morehead City, NC 28557
Entity Owned
3-yr Hold
Absentee Owner
Free & Clear
Property ID
US53-2575387
For Sale
Contact for pricing
208 Penny Ln, Morehead City, NC 28557
View Listing →
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1977
Construction
WOOD
Total area
5,216 SF
Lot
0.43 ac (18,731 SF)
Zoning code
MA
APN
6376.14.43.0310000
UPID
US53-2575387
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
-
Coastal Foot Center Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Morehead Real Estate Holdings LLC · 3 yrs held
Morehead Real Estate Holdings LLC
since 2022
Last sale
$295,000
2 recorded transactions
Zoning & alternative use
MA · Morehead City, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
This district is intended to allow flexible, noncommercial development of large institutional campuses such as schools, churches, and government uses, under unified control.
Zone name
Medical Arts District
General category
CIVIC_INSTITUTIONAL
Zone area
36.40 ac
Source
Realmo
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$1,828
Tax year 2022
Assessed value
$542,725
Assessed 2024
Previous assessed
$542,725
+0.0% YoY
Effective rate
0.34%
On assessed value
Assessed land
$142,425
Assessed improvement
$400,300
Land market value
$142,425
Improvement market value
$400,300
Total market value
$542,725
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
For Sale
Year built
1977
Construction
WOOD
Heating
HEAT PUMP
Buildings
2
Stories
1
Bathrooms
6
Total area
5,216 SF
Lot
0.43 ac (18,731 SF)
Zoning code
MA
APN
6376.14.43.0310000
UPID
US53-2575387
Jurisdiction
CARTERET
Zoning & alternative use
MA · Morehead City, NCZoning 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
Zoning description
This district is intended to allow flexible, noncommercial development of large institutional campuses such as schools, churches, and government uses, under unified control.
Zone name
Medical Arts District
General category
CIVIC_INSTITUTIONAL
Zone area
36.40 ac
Source
Realmo
Building & site characteristics
From public records
Year built
1977
Construction
WOOD
Heating
HEAT PUMP
Stories
1
Buildings
2
Bathrooms
6
Lot
0.43 ac
Current owner
From public records · entity-resolved
Morehead Real Estate Holdings LLC
Entity
Free & Clear · 3 yrs held
Mailing address
102 HARVEST DR, JACKSONVILLE, NC 28540-3848
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
Nov 30, 2022
$295,000
Morehead Real Estate Holdings LLC
Joan Brew
Warranty Deed
—
—
—
Donald B Reece II
—
Loan Modification
related
—
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
