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Property profile & analytics
OFF-MARKET
Estimated value
$3,400,000
Office buildings
4218 Arendell St, Morehead City, NC 28557-2866
Individually Owned
8-yr Hold
Free & Clear
Property ID
US53-2929395
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2013
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
15,324 SF
Lot
2.71 ac (118,048 SF)
APN
6366.16.93.3569000
UPID
US53-2929395
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
-
Gregory Mcnabb Physician
-
CarolinaEast Physicains Medical Clinic Physician
-
Compassion Counseling Center, ENC, PC Counselor
-
Carolina East Physicians Hospital
-
Jeffrey Fraser Pediatrician Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.90M
Comparable Approach
Comparable
$3.88M
Blend (final)
Blend
$3.40M
Owner & transaction history
East Coast Square East L L C · 8 yrs held
East Coast Square East L L C
since 2017
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$3.8M
+60.1%
Restaurant
$3.4M
+43.5%
Retail stores
$2.7M
+13.1%
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%
$4,215,000
6.5%
$3,895,000
7%
$3,615,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$2,385,000
Current use
COMMERCIAL (GENERAL)
$3,820,000
Change: +60% · Conversion: Easy
RESTAURANT
$3,425,000
Change: +43% · Conversion: Moderate
RETAIL STORES
$2,700,000
Change: +13% · Conversion: Moderate
MEDICAL BUILDING
$2,150,000
Change: -10% · Conversion: Easy
Blend value · Realmo final
$3.40M
Range $3.06M – $3.74M · ±10%
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
$222 / 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
$27,151
Tax year 2022
Assessed value
$7,227,824
Assessed 2024
Previous assessed
$7,227,824
+0.0% YoY
Effective rate
0.38%
On assessed value
Assessed land
$1,761,500
Assessed improvement
$5,466,324
Land market value
$1,761,500
Improvement market value
$5,466,324
Total market value
$7,227,824
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
2013
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
YES
Buildings
3
Bathrooms
4
Total area
15,324 SF
Lot
2.71 ac (118,048 SF)
APN
6366.16.93.3569000
UPID
US53-2929395
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
OFFICE BUILDING Current
Est. value
$2.4M
COMMERCIAL (GENERAL)
Est. value
$3.8M
RESTAURANT
Est. value
$3.4M
RETAIL STORES
Est. value
$2.7M
MEDICAL BUILDING
Est. value
$2.2M
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
RESTAURANT
RETAIL STORES
MEDICAL 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
2013
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
Yes
Buildings
3
Bathrooms
4
Lot
2.71 ac
Current owner
From public records · entity-resolved
East Coast Square East L L C
Individual
Free & Clear · 8 yrs held
Mailing address
4218 ARENDELL STM, MOREHEAD CITY, NC 28557-2866
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 1, 2023
—
East Coast Square East LLC
—
Deed
related
$800,000 · First National Bank Of Pennsylvania
Mar 25, 2020
—
Joseph Francica
—
Deed
related
$904,500 · Corporate Invtrs Mtg
Sep 27, 2017
$6,978,000
East Coast Square East L L C
Holler Corp
Special Warranty Deed
—
—
—
Joseph Francica
—
Deed Of Trust
related
$904,500 · Corporate Invtrs Mtg
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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