Technical
Financial
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Property profile

501 35th St Morehead City, NC 28557

OFF-MARKET
Office buildings
Property ID
US53-2751593
5,248 SF 1.01 ac lot Built 1994
Entity Owned 1-yr Hold Absentee Owner ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional 5,286-square-foot industrial warehouse in Morehead City, North Carolina, presents a unique investment opportunity. Located in a prestigious office park setting at 501 N 35th Street, this well-maintained brick building boasts a versatile interior layout. Currently configured with 18 individual offices, multiple conference rooms, a break room/kitchen, and a spacious common area, the property offers significant flexibility for various business needs. Several entry points enhance accessibility and operational efficiency. A substantial 1,200-square-foot walk-up area, complete with HVAC and sheetrock walls, provides ample potential for storage expansion or additional workspace. Ample parking is available, conveniently situated on both 35th Street and John Platt Road. The property's beautifully landscaped surroundings contribute to its attractive and professional appeal. This single-tenant property is situated in Carteret County, NC, zip code 28557, and is priced competitively below market value. The property is classified as both industrial and commercial, offering a wide range of potential uses. This is a rare opportunity to acquire a well-maintained, versatile property in a desirable location.

Property profile

Verified
Property type Office buildings
Use group OFFICE BUILDING
Year built 1994
Construction MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area 5,248 SF
Lot 1.01 ac (43,996 SF)
Zoning code R20
APN 6376.14.44.5403000
UPID US53-2751593

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
  • Coworking & Hybrid Office

Location

501 35th St Morehead City, NC 28557-3120
Morehead City metro Census 970401 MOREHEAD CITY, NC MICROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$850k
CAP Approach CAP
by Request
Comparable Approach Comparable
$720k
Blend (final) Blend
$850k

Owner & transaction history

since 2024
Last sale
$850,000
2 recorded transactions
2024
$850,000
2021
Price N/A

Zoning & alternative use

R20 · Morehead City, NC
Zoning description

This district is intended to allow single-family dwellings at a density of up to two units per acre on minimum 20000 square foot lots, while protecting the quiet residential character and preventing blight or slum condit…

General category RESIDENTIAL
Top alternative use upside
Commercial (general) $1.3M +60.1%
Restaurant $1.2M +43.5%
Retail stores $925,000 +13.1%

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
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