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Property profile & analytics
OFF-MARKET
Estimated value
$935,000
Warehouses
5035 Mattie St, Morehead City, NC 28557
Entity Owned
3-yr Hold
Absentee Owner
Free & Clear
Property ID
US53-2670836
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
2015
Construction
STEEL FRAME
Total area
6,510 SF
Lot
0.74 ac (32,365 SF)
APN
6366.01.28.2636000
UPID
US53-2670836
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$940k
CAP Approach
CAP
$775k
Comparable Approach
Comparable
$844k
Blend (final)
Blend
$935k
Owner & transaction history
Bwfw LLC · 3 yrs held
Bwfw LLC
since 2023
Last sale
$1.1M
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.5M
+123.3%
Retail stores
$1.1M
+76.0%
Office building
$1.0M
+55.6%
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
$895,000
ML approach
$940,000
CAP Approach
CAP Return
Estimation
6%
$840,000
6.5%
$775,000
7%
$720,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$650,000
Current use
RESTAURANT
$1,455,000
Change: +123% · Conversion: Difficult
RETAIL STORES
$1,145,000
Change: +76% · Conversion: Moderate
OFFICE BUILDING
$1,015,000
Change: +56% · Conversion: Difficult
MEDICAL BUILDING
$915,000
Change: +40% · Conversion: Difficult
Blend value · Realmo final
$935k
Range $842k – $1.03M · ±10% · vs last sale $1.08M (Feb 1 2023)
Last sale anchor
$1.08M
Feb 1 2023
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
$144 / 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
$1,800
Tax year 2022
Assessed value
$540,894
Assessed 2024
Previous assessed
$540,894
+0.0% YoY
Effective rate
0.33%
On assessed value
Assessed land
$133,640
Assessed improvement
$407,254
Land market value
$133,640
Improvement market value
$407,254
Total market value
$540,894
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
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
2015
Construction
STEEL FRAME
Heating
NONE
Buildings
2
Total area
6,510 SF
Lot
0.74 ac (32,365 SF)
APN
6366.01.28.2636000
UPID
US53-2670836
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
WAREHOUSE, STORAGE Current
Est. value
$650,000
RESTAURANT
Est. value
$1.5M
RETAIL STORES
Est. value
$1.1M
OFFICE BUILDING
Est. value
$1.0M
MEDICAL BUILDING
Est. value
$915,000
WAREHOUSE, STORAGE Current
RESTAURANT
RETAIL STORES
OFFICE BUILDING
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
2015
Construction
STEEL FRAME
Heating
NONE
Buildings
2
Lot
0.74 ac
Current owner
From public records · entity-resolved
Bwfw LLC
Entity
Free & Clear · 3 yrs held
Mailing address
2721 GLENWOOD GDNS LN UNIT #103, RALEIGH, NC 27608-1365
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 1, 2023
$1,082,000
Bwfw LLC
Happy Gardens LLC
Warranty Deed
—
May 2, 2018
—
Happy Gardens LLC
Horton,david & Karen
Warranty Deed
related
—
May 2, 2014
$85,000
David Horton
See,richard W & Sharon A
Warranty Deed
—
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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