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Property profile & analytics
OFF-MARKET
Estimated value
$650,000
Medical Office Space
3104 Arendell St Morehead City, NC 28557-3202
Entity Owned
~
Est. High Equity
Property ID
US53-0723313
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1996
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
4,504 SF
Lot
0.54 ac (23,479 SF)
Zoning code
CH
APN
6376.19.72.2235000
UPID
US53-0723313
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
-
Streamline Developers Construction Company General Contractor
-
Maverick Mechanical Hardware & Home Improvement HVAC Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$820k
Comparable Approach
Comparable
$553k
Blend (final)
Blend
$650k
Owner & transaction history
East Kinston Housing LLC
East Kinston Housing LLC
since 2025
Last sale
$750,000
7 recorded transactions
Zoning & alternative use
CH · Morehead City, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$795,000
+25.5%
Office building
$700,000
+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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$890,000
6.5%
$820,000
7%
$765,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$630,000
Current use
RETAIL STORES
$795,000
Change: +25% · Conversion: Difficult
OFFICE BUILDING
$700,000
Change: +11% · Conversion: Easy
Blend value · Realmo final
$650k
Range $585k – $715k · ±10% · vs last sale $750k (Dec 15 2025)
Last sale anchor
$750k
Dec 15 2025
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
$144 / 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
$1,916
Tax year 2022
Assessed value
$576,051
Assessed 2024
Previous assessed
$576,051
+0.0% YoY
Effective rate
0.33%
On assessed value
Assessed land
$242,550
Assessed improvement
$333,501
Land market value
$242,550
Improvement market value
$333,501
Total market value
$576,051
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
1996
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Stories
1
Bathrooms
2
Total area
4,504 SF
Lot
0.54 ac (23,479 SF)
Zoning code
CH
APN
6376.19.72.2235000
UPID
US53-0723313
Jurisdiction
CARTERET
Zoning & alternative use
CH · Morehead City, NC
Zoning CH · permitted uses
CH · 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
$630,000
RETAIL STORES
Est. value
$795,000
OFFICE BUILDING
Est. value
$700,000
MEDICAL BUILDING Current
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
1996
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Stories
1
Bathrooms
2
Lot
0.54 ac
Current owner
From public records · entity-resolved
East Kinston Housing LLC
Entity
Mailing address
PO BOX 1600, WENDELL, NC 27591-1600
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 15, 2025
$750,000
East Kinston Housing LLC
Philip H Whitley Revocable Trust
Warranty Deed
$500,000 · Philip H Whitley Revocable Trust
Jul 30, 2021
$800,000
Philip H Whitley
Eastline Holdings LLC
Warranty Deed
—
Jan 15, 2020
$405,000
Eastline Holdings LLC
Pdl Beach Properties LLC
Warranty Deed
related
$300,000 · Pdl Beach Properties LLC
May 31, 2013
$368,000
Pdl Beach Properties LLC
First Citizens Bk & Trust Co
Grant Deed
$312,375 · First Bank
May 20, 2013
$368,000
Pdl Beach Properties LLC
First Citizens Bank Trust Co
Grant Deed
$312,375 · First Bank
Mar 30, 2010
$447,917
First Citizens Bk & Trust Co
Waslaw LLC
Trustees Deed
related
—
Mar 26, 2010
$448,000
First Citizens Bank Trust Co
Gray,michael A
Grant Deed
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.
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