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    3025 Bridges St Morehead City, NC 28557-3381
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    Property profile & analytics

    3025 Bridges St, Morehead City, NC 28557-3381

    View on Map
    • Strip malls
    • 15,450 SF
    • 2.84 lot acres
    Off-Market
    Last Sale Nov 4, 2021
    $1,570,000
    Property ID
    US53-2556149
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $1,550,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Golden's Barber Shop / Barber Shop
    • Linda's Salon / Hair Salon / Nail Salon
    • Hair Works / Hair Salon
    • Thunder Road Computers Inc / Electronics & Wireless Store
    • Jewelers' Workbench Inc / (Bike/Boat/Book/etc) Store

    Property Details for 3025 Bridges St

    Year built
    1986
    Construction
    STEEL FRAME
    Lot size
    2.84 lot acres
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    6376.15.72.3979000
    APU
    637615723979000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,490,000
      ML approach
      $1,575,000

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,800,000
      OFFICE BUILDING
      $1,690,000
      MEDICAL BUILDING
      $1,430,000
      AUTO REPAIR, GARAGE
      $1,395,000
      RETAIL STORES
      $1,375,000
      RESTAURANT
      $1,320,000
      INDUSTRIAL (GENERAL)
      $940,000

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Morehead City
    County
    Carteret
    State
    North Carolina
    Longitude
    -76.7452
    Latitude
    34.7263
    CBSA code
    33980
    CBSA name
    MOREHEAD CITY, NC MICROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $2,309
    $455,000
    $195,257
    $650,257
    -
    $455,000
    $195,257
    $650,257

    Comparable in this City

    • Value Estimation
      $810,000
      8,832 SF

      4119 Arendell St

      SHOPPING CENTER, STRIP CENTER
      4119 Arendell St, Morehead City, NC 28557-2857
      View Details
    • Value Estimation
      $575,000
      16,438 SF

      801 Arendell St

      SHOPPING CENTER, STRIP CENTER
      801 Arendell St, Morehead City, NC 28557-4287
      View Details
    • Value Estimation
      $1,025,000
      19,736 SF

      4050 Arendell St

      SHOPPING CENTER, STRIP CENTER
      4050 Arendell St, Morehead City, NC 28557-2977
      View Details
    • Value Estimation
      $1,010,000
      27,240 SF

      1700 Arendell St

      SHOPPING CENTER, STRIP CENTER
      1700 Arendell St, Morehead City, NC 28557-4040
      View Details
    • Value Estimation by Request
      8,160 SF

      1103 20th St

      SHOPPING CENTER, STRIP CENTER
      1103 20th St, Morehead City, NC 28557-4407
      View Details
    • Value Estimation by Request
      8,121 SF

      4444 Arendell St

      SHOPPING CENTER, STRIP CENTER
      4444 Arendell St, Morehead City, NC 28557-2701
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      Pending

      Income Producing Strip Mall

      High-traffic strip mall with nine bays and ample parking.
      5448 Hwy 70 W, Morehead City, NC 28557
      View Details
    • $995,000
      2,380 SF

      Prime Commercial Space Waterfront District

      2,300+ sqft commercial space in Morehead City's Waterfront District.
      608 Arendell St, Morehead City, NC 28557
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    • Contact for pricing

      Restaurant Ready Building For Sale

      Restaurant-ready building with kitchen and walk-in coolers for sale.
      3010 Arendell St, Morehead City, NC 28557
      View Details
    • $549,900
      1,510 SF

      Updated Commercial Property on Bridges Street

      Versatile commercial property in high-traffic location with recent updates.
      3014 Bridges St, Morehead City, NC 28557
      View Details
    • $750,000
      1,000 SF

      Versatile Commercial Property, High Visibility

      Remodeled commercial property with living space and outdoor patio.
      2401 Arendell St, Morehead City, NC 28557
      View Details
    • $235,000
      0.14 Acres

      Homesite with Calico Creek Views

      Prime Morehead City homesite with creek views, no HOA.
      2405 E Myrtle St, Morehead City, NC 28557
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    Similar Nearby for Lease

    • Contact for pricing
      3,780 SF

      Retail Space in Cypress Bay

      Highly visible shopping center with national retail tenants.
      5167 Hwy 70 W, Morehead City, NC 28557
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    • $8 SF/Yr
      2,248 SF

      Hwy 70 E Morehead City Office Space

      Prime Morehead City location, high traffic area.
      4415 Arendell St, Morehead City, NC 28557
      View Details
    • Contact for pricing
      90,000 SF

      Former Kmart Retail Space Available

      90,000 SF retail space for lease on Arendell Street.
      4915 Arendell St, Morehead City, NC 28557
      View Details
    • $1,700 /Mo
      20,909 SF

      Commercial Storage Unit For Rent

      Storage unit with roll-up and personal doors available for rent.
      5071 Business Dr, Morehead City, NC 28557
      View Details
    • $7,500 /Mo
      3,881 SF

      Versatile Office Building in Morehead

      Well-maintained 3,881 SF office building, ideal for medical or professional use.
      4725 Country Club Rd, Morehead City, NC 28557
      View Details
    • $4,000 /Mo
      4,614 SF

      Highway 70 Warehouse For Lease

      Commercial warehouse space with office, kitchenette, and mezzanine.
      5192 Hwy 70 W, Morehead City, NC 28557
      View Details
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    Morehead City, NC 28557-3381
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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