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Property profile & analytics
FOR LEASE
Office buildings
4252 Arendell St Morehead City, NC 28557
Entity Owned
1-yr Hold
Free & Clear
Property ID
US53-2810503
For Lease
1 / 19
$4,470,000
4252 Arendell St, Morehead City, NC 28557
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2010
Construction
CONCRETE BLOCKS
Total area
17,896 SF
Lot
3.1 ac (135,210 SF)
APN
6366.16.83.9155000
UPID
US53-2810503
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
-
Dr. Matthew Grove Physician
-
Vision Source Morehead City Physician
-
Dr. Gloria Graham Physician Medical Clinic
-
Dr. Scott Ard Physician
-
Dr. Patrick Patterson Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$4.27M
CAP Approach
CAP
$4.55M
Comparable Approach
Comparable
$4.53M
Blend (final)
Blend
$4.47M
Owner & transaction history
Ahv Arendell Owner LLC · 1 yrs held
Ahv Arendell Owner LLC
since 2025
Last sale
$5.8M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$4.5M
+60.1%
Restaurant
$4.0M
+43.5%
Retail stores
$3.2M
+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
$4,530,000
ML approach
$4,270,000
CAP Approach
CAP Return
Estimation
6%
$4,925,000
6.5%
$4,545,000
7%
$4,220,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$2,785,000
Current use
COMMERCIAL (GENERAL)
$4,460,000
Change: +60% · Conversion: Easy
RESTAURANT
$4,000,000
Change: +43% · Conversion: Moderate
RETAIL STORES
$3,150,000
Change: +13% · Conversion: Moderate
Blend value · Realmo final
$4.47M
Range $4.02M – $4.92M · ±10% · vs last sale $5.80M (May 23 2025)
Last sale anchor
$5.80M
May 23 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
$250 / 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
$20,821
Tax year 2022
Assessed value
$6,304,820
Assessed 2024
Previous assessed
$6,304,820
+0.0% YoY
Effective rate
0.33%
On assessed value
Assessed land
$1,736,432
Assessed improvement
$4,568,388
Land market value
$1,736,432
Improvement market value
$4,568,388
Total market value
$6,304,820
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
For Lease
Year built
2010
Construction
CONCRETE BLOCKS
Heating
HEAT PUMP
Stories
1
Bathrooms
8
Total area
17,896 SF
Lot
3.1 ac (135,210 SF)
APN
6366.16.83.9155000
UPID
US53-2810503
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
$2.8M
COMMERCIAL (GENERAL)
Est. value
$4.5M
RESTAURANT
Est. value
$4.0M
RETAIL STORES
Est. value
$3.2M
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
RESTAURANT
RETAIL STORES
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
2010
Construction
CONCRETE BLOCKS
Heating
HEAT PUMP
Stories
1
Bathrooms
8
Lot
3.1 ac
Current owner
From public records · entity-resolved
Ahv Arendell Owner LLC
Entity
Free & Clear · 1 yrs held
Mailing address
PO BOX 460169, HOUSTON, TX 77056-8169
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
May 23, 2025
$5,800,000
Ahv Arendell Owner LLC
Arhc Ecmcync01 LLC
Special Warranty Deed
—
Apr 12, 2018
—
Arhc Ecmcync01 LLC
—
Grant Deed
related
$237,400,000 · Keybank USA
Oct 15, 2015
$6,500,000
Arhc Ecmcync01 LLC
East Coast Seafood INC
Grant Deed
—
Jun 10, 2009
$850,000
East Coast Seafood INC
Pbre2 Corp
Grant Deed
—
Feb 9, 2007
—
Pbre2 Corp
Contractor Yard LLC
Grant Deed
—
—
—
East,coast Seafood INC
—
Deed Of Trust
related
$250,000 · East Carolina Community Development INC
—
—
Holler Developers INC
—
Deed Of Trust
related
$250,000 · East Carolina Cmnty Dev INC
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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