Entity Owned 
For Sale
1 / 61
$995,000
208 Penny Ln, Morehead City, NC 28557
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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
Current use
Occupant on record · Public records
-
Medical Clinic
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$330k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$305k
Owner & transaction history
since 2022
Last sale
$295,000
2 recorded transactions
Zoning & alternative use
MA · Morehead City, NC
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.
General category
CIVIC_INSTITUTIONAL
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
Sensitivity value band
Source audit · 6 inputs
PDF export
Professional Plan · 30 reports
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Summary
1
Valuation conclusion
Included free
Estimated market value
$305k
Value range
$275k – $336k
±10% around blend
Estimated value / SF
$58 / SF
Confidence
Property data
100
Market benchmarks
33
Comparable evidence
60
Income certainty
100
$275k
blend $305k
$336k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
5,216 SF
Lot area
0.43 ac
Year built
1977
Stories
1
APN
6376.14.43.0310000
Zoning
MA
Assessed value
$542,725
Annual tax
$1,828
3
Income approach: direct capitalization
Partial preview
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Property tax
$1,828
Selected cap rate
4
Sales comparison
Partial preview
Too few qualifying comparables for a sales-approach estimation.
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$305k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
County 21 sales
$140
-58%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $58/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Modeled
Market rent
Market benchmark
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
NOI build-up · 9 steps
Market rates by use type
PDF export
Professional Plan · 30 reports
from $99/month
from $99/month
Overview
Selected market yield
9.16%
Selected cap rate for this medical office space
Derived from the Morehead City market rent, vacancy and expense benchmarks for this use type.
Lower yield / higher price
Higher yield / lower price
5.0%
This property · 9.16%
9.0%
NOI (est.)
$91k *
Last sale · Nov 2022
$295k
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$995k
Move the market yield to see immediate price impact.
Value / SF
$191
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
8.66%9.16%9.66%
$82k
$947k
$896k
$849k
$91k
$1.05M
$995k
$944k
$100k
$1.16M
$1.09M
$1.04M
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
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
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
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
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.
General category
CIVIC_INSTITUTIONAL
Building & site characteristics
From public records
Year built
1977
Construction
WOOD
Heating
HEAT PUMP
Stories
1
Buildings
2
Bathrooms
6
Lot
0.43 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Matched to the official district catalog
MA
CIVIC_INSTITUTIONAL
Jurisdiction
Morehead City, NC
Recorded code
MA
Official district
MA
Official district profile
What the municipal code says about MA
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.
General category
CIVIC_INSTITUTIONAL
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for MA in Morehead City, NC.
What opens after registration
Zoning profile
Official descriptionThe district text from the municipal code
District factsZone name, category and district area
Official documentVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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