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Property profile & analytics
OFF-MARKET
Estimated value
$13,330,000
Grocery and convenience stores
5000 Hwy 70th W Morehead City, NC 28557-4531
Entity Owned
13-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US53-2544937
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
2008
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
72,380 SF
Lot
8.22 ac (358,063 SF)
APN
6366.10.36.1046000
UPID
US53-2544937
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. Gary Gaines Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$12.91M
Comparable Approach
Comparable
$17.80M
Blend (final)
Blend
$13.33M
Owner & transaction history
Zp No 185 LLC · 13 yrs held
Zp No 185 LLC
since 2013
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$18.0M
+41.6%
Restaurant
$16.2M
+26.9%
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%
$13,985,000
6.5%
$12,910,000
7%
$11,985,000
Alternative Use
Use
Estimation
RETAIL STORES
$12,750,000
Current use
COMMERCIAL (GENERAL)
$18,045,000
Change: +42% · Conversion: Easy
RESTAURANT
$16,170,000
Change: +27% · Conversion: Easy
OFFICE BUILDING
$11,270,000
Change: -12% · Conversion: Easy
Blend value · Realmo final
$13.33M
Range $12.00M – $14.66M · ±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
$184 / 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
$32,493
Tax year 2022
Assessed value
$9,841,675
Assessed 2024
Previous assessed
$9,841,675
+0.0% YoY
Effective rate
0.33%
On assessed value
Assessed land
$3,274,700
Assessed improvement
$6,566,975
Land market value
$3,274,700
Improvement market value
$6,566,975
Total market value
$9,841,675
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
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
Off-Market
Year built
2008
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Buildings
2
Total area
72,380 SF
Lot
8.22 ac (358,063 SF)
APN
6366.10.36.1046000
UPID
US53-2544937
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
RETAIL STORES Current
Est. value
$12.8M
COMMERCIAL (GENERAL)
Est. value
$18.0M
RESTAURANT
Est. value
$16.2M
OFFICE BUILDING
Est. value
$11.3M
RETAIL STORES Current
COMMERCIAL (GENERAL)
RESTAURANT
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
2008
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Buildings
2
Lot
8.22 ac
Current owner
From public records · entity-resolved
Zp No 185 LLC
Entity
Mailing address
111 PRINCESS ST, WILMINGTON, NC 28401-3948
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2013
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 20, 2013
—
Zp No 185 LLC
Zp No 170 LLC
Quit Claim Deed
$7,300,000 · Transamerica Life Insurance Co
Jun 19, 2013
—
Zp No 185 LLC
Zp No 170 LLC
Quit Claim Deed
related
$7,300,000 · Transamerica
Jun 7, 2010
—
Michael B Bell
Zp No 170 LLC
Warranty Deed
$8,500,000 · Cibc INC
May 27, 2010
—
Michael B Bell
Zp No 170 LLC
Grant Deed
related
—
May 16, 2008
—
Zp No 170 LLC
—
Grant Deed
related
$8,500,000 · Cibc INC
—
—
Zp 169 LLC
—
Loan Modification
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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