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Property profile & analytics
OFF-MARKET
Estimated value
$920,000
Medical Office Space
221 Professional Cirb Morehead City, NC 28557-4303
Entity Owned
1-yr Hold
Absentee Owner
Free & Clear
Property ID
US53-2790383
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1992
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
4,540 SF
Lot
1.05 ac (45,694 SF)
APN
6376.14.43.3896000
UPID
US53-2790383
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
$920k
CAP Approach
CAP
$830k
Comparable Approach
Comparable
$777k
Blend (final)
Blend
$920k
Owner & transaction history
Carteret County General Hospital Co · 1 yrs held
Carteret County General Hospital Co
since 2024
Last sale
$920,000
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.1M
+77.6%
Retail stores
$800,000
+25.5%
Office building
$705,000
+10.9%
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
$920,000
ML approach
$920,000
CAP Approach
CAP Return
Estimation
6%
$895,000
6.5%
$830,000
7%
$770,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$635,000
Current use
COMMERCIAL (GENERAL)
$1,130,000
Change: +78% · Conversion: Easy
RETAIL STORES
$800,000
Change: +25% · Conversion: Difficult
OFFICE BUILDING
$705,000
Change: +11% · Conversion: Easy
Blend value · Realmo final
$920k
Range $828k – $1.01M · ±10% · vs last sale $920k (Nov 19 2024)
Last sale anchor
$920k
Nov 19 2024
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
$203 / 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
$2,685
Tax year 2022
Assessed value
$809,219
Assessed 2024
Previous assessed
$809,219
+0.0% YoY
Effective rate
0.33%
On assessed value
Assessed land
$228,152
Assessed improvement
$581,067
Land market value
$228,152
Improvement market value
$581,067
Total market value
$809,219
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
1992
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Stories
1
Bathrooms
2
Total area
4,540 SF
Lot
1.05 ac (45,694 SF)
APN
6376.14.43.3896000
UPID
US53-2790383
Jurisdiction
CARTERET
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
MEDICAL BUILDING Current
Est. value
$635,000
COMMERCIAL (GENERAL)
Est. value
$1.1M
RETAIL STORES
Est. value
$800,000
OFFICE BUILDING
Est. value
$705,000
MEDICAL BUILDING Current
COMMERCIAL (GENERAL)
RETAIL STORES
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
1992
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Stories
1
Bathrooms
2
Lot
1.05 ac
Current owner
From public records · entity-resolved
Carteret County General Hospital Co
Entity
Free & Clear · 1 yrs held
Mailing address
3714 GUARDIAN AVE E STE E, MOREHEAD CITY, NC 28557-2975
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 19, 2024
$920,000
Carteret County General Hospital Co
Carteret Investment Associates LLC
Special Warranty Deed
—
Mar 5, 2020
—
Carteret Investment Associates LLC
—
Deed
related
$14,180,000 · First Citizens Bank & Trust Co
May 19, 2016
—
Carteret Investment Assocs LLC
—
Deed
related
$11,605,000 · Bank Of Nc
Jul 24, 2008
—
Carteret Investment Assocs LLC
—
Deed Of Trust
related
$8,092,054 · Wachovia Bank NA
Aug 15, 2007
$550,000
Carteret Investment Assocs LLC
Hollar,larry A & Carlin B
Warranty Deed
—
—
—
Carteret Investment Assocs LLC
—
Deed Of Trust
related
$825,000 · Wells Fargo Bk
—
—
Merrick Properties LLC
—
Deed Of Trust
related
$670,000 · First Citizens Bank & Trust Co
—
—
Carteret Investment Assocs LLC
—
Deed Of Trust
related
$11,605,000 · Bank Of Nc
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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