Technical
Financial
Distress signals
Property profile

500 Arendell St Morehead City, NC 28557

OFF-MARKET
Office buildings
Property ID
US53-2928302
3,038 SF 0.08 ac lot Built 1920
Entity Owned Free & Clear
Saved · see the list in your Dashboard

Property summary

AI-generated overview

500 Arendell St is a renovated historic building in Morehead City that was converted from the former Tidewater Power Building into a bed-and-breakfast-style property with flexible on-site accommodations. The first floor includes a one-bedroom, one-bath efficiency unit and two spacious two-car garage bays. The second floor provides an open-concept layout with a kitchen featuring custom woodwork and exposed beams, a living room, an office space, two bedrooms, and two bathrooms, and the exterior includes a rooftop deck with a hot tub. The property is located across from the historic waterfront Business District and near Big Rock Landing, with access to nearby dining, shopping, and entertainment. The renovations were engineered for hurricane-force wind conditions, and the building was engineered to support future expansion; approved plans include adding a third floor with four additional one-bedroom, one-bath units, each with a private deck. Materials are on-site to create an additional efficiency unit on the second floor with a living room, dining room, kitchen, laundry, one bedroom, and one bathroom.

Property profile

Verified
Property type Office buildings
Use group OFFICE BUILDING
Year built 1920
Construction MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area 3,038 SF
Lot 0.08 ac (3,485 SF)
Zoning code CD
APN 6386.20.81.4325000
UPID US53-2928302

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Food Processing Plant

Location

500 Arendell St Morehead City, NC 28557-4232
Morehead City metro Census 970402 MOREHEAD CITY, NC MICROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$260k

Owner & transaction history

since 2025
Last sale
$1.0M
3 recorded transactions
2025
$1.0M
2019
Price N/A
1969
Price N/A

Zoning & alternative use

CD · Morehead City, NC
Zoning description

This district is intended to create an active, pedestrian friendly downtown environment with a mix of residential and commercial uses designed for compatibility and visual appeal.

General category COMMERCIAL

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 500 Arendell St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
More about this property
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Please enter message