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    4146 Dr. Mlk Blvd New Bern, NC 28562
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    Property profile & analytics

    4146 Dr. Mlk Blvd New Bern, NC 28562

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    • Retail space
    • 6,000 SF
    • 4.08 lot acres
    For Lease
    $500/Mo
    View Listing →
    New Maxi Storage Space Available For Lease
    $500/Mo
    1,000 SF

    New Maxi Storage Space Available

    Newly built storage units for lease in New Bern, NC.

    4146 Dr. Mlk Boulevard, New Bern, NC 28562
    View Listing
    Property ID
    US53-3520275
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail space

    Property Details for 4146 Dr. Mlk Blvd

    Year built
    1989
    Lot size
    4.08 lot acres
    Property size
    6,000 SF
    Property type
    Retail space
    APN
    8-211 -033
    APU
    8211033

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,975,000
      6.5%
      $1,825,000
      7%
      $1,695,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,125,000
      Market price range: $241k - $2.13M
      AI Estimate
      $1,259,000
      Market price range: $367k - $1.26M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,460,000
      Current use
      WAREHOUSE, STORAGE
      $2,080,000
      Change: +43% Conversion: Difficult
      RESTAURANT
      $1,985,000
      Change: +36% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $1,250,000
      Change: -14% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    New Bern
    County
    Craven
    State
    North Carolina
    Longitude
    -77.1239
    Latitude
    35.0959
    CBSA code
    35100
    CBSA name
    NEW BERN, 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
    2023
    $10,192
    $304,000
    $1,099,100
    $1,403,100
    -
    $304,000
    $1,099,100
    $1,403,100

    Comparable in this City

    • Value Estimation by Request
      1,140 SF

      New Bern, NC 28562

      RETAIL STORES (PERSONAL SERVICES) • 1,140 SF
      New Bern, NC 28562
      View Details
    • Value Estimation
      $1,180,000
      4,084 SF

      New Bern, NC 28562

      RETAIL STORES (PERSONAL SERVICES) • 4,084 SF
      New Bern, NC 28562
      View Details
    • Value Estimation
      $515,000
      2,310 SF

      1210 Highland Ave

      RETAIL STORES (PERSONAL SERVICES) • 2,310 SF
      1210 Highland Ave, Trent Woods, NC 28562-5832
      View Details
    • Value Estimation
      $1,825,000
      9,016 SF

      455 Pirates Rd

      RETAIL STORES (PERSONAL SERVICES) • 9,016 SF
      455 Pirates Rd, New Bern, NC 28562-9155
      View Details
    • Value Estimation by Request
      1,596 SF

      2601 Trent Rd

      RETAIL STORES (PERSONAL SERVICES) • 1,596 SF
      2601 Trent Rd, New Bern, NC 28562-2025
      View Details
    • Value Estimation
      $1,630,000
      7,996 SF

      1322 Commerce Dr

      RETAIL STORES (PERSONAL SERVICES) • 7,996 SF
      1322 Commerce Dr, New Bern, NC 28562
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Absolute Net Lease Retail Property

      Retail property with absolute net lease and favorable rental increases.
      4100 Dr M L King Jr Blvd, New Bern, NC 28562
      View Details
    • $1,500,000

      Retail Property Near Major Retailers

      Retail property with high visibility and accessibility near major retailers.
      2612 Trent Rd, New Bern, NC 28562
      View Details
    • $917,700
      9,014 SF

      Freestanding Dollar General in New Bern

      Single tenant Dollar General with investment grade credit rating.
      455 Pirates Rd, New Bern, NC 28562
      View Details
    • $600,000
      0.99 Acres

      Waterfront Lot for Custom Home

      Residential waterfront lot suitable for building a custom dream home.
      2321-B Chinquapin Rd, New Bern, NC 28562
      View Details
    • $499,900
      19.75 Acres

      Waterfront Land in New Bern

      19+ acre waterfront property with development potential.
      19 Old Airport Rd, New Bern, NC 28562
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,000 SF

      Retail Spaces Available For Rent

      Retail spaces available, ranging from 2,000 to 22,700 square feet.
      2662 M L King Jr, New Bern, NC 28562
      View Details
    • Contact for pricing
      6,070 SF

      Retail Space in Prime Location

      Retail space available near major retailers and residential communities.
      2063 S Glenburnie Rd, New Bern, NC 28562
      View Details
    • Contact for pricing
      3,927 SF

      Retail Space in Prime Location

      Retail spaces available in high-traffic New Bern corridor.
      2061-2065 S Glenburnie Rd, New Bern, NC 28562
      View Details
    • Contact for pricing
      2,356 SF

      Retail Space in Prime Location

      Retail space co-anchored by Harris Teeter and Home Goods.
      3529-3541 Dr Mlk Jr Blvd, New Bern, NC 28562
      View Details
    • Contact for pricing

      Retail Space in New Bern

      Retail space co-anchored by Harris Teeter and Home Goods.
      South Glenburnie Rd, New Bern, NC 28562
      View Details
    • Contact for pricing
      30,900 SF

      Retail Space on Highway 70

      Retail property for rent at a high-traffic intersection.
      2600-2690 Doctor Martin Luther King Junior Blvd, New Bern, NC 28562
      View Details
    View Listing
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    New Bern, NC 28562
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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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