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Property profile & analytics
OFF-MARKET
Estimated value
$5,740,000
Drug stores
5053 Hwy 70th W Morehead City, NC 28557-4503
Entity Owned
3-yr Hold
Absentee Owner
Free & Clear
Property ID
US53-2752464
Property profile
Verified
Property type
Drug stores
Use group
DRUG STORE, PHARMACY
Year built
2008
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
15,786 SF
Lot
2 ac (87,251 SF)
APN
6366.09.15.4948000
UPID
US53-2752464
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
-
Walgreens Photo (Bike/Boat/Book/etc) Store
-
Walgreens Pharmacy Pharmacy
-
Walgreens Pharmacy
-
LibertyX Bitcoin ATM Atm
-
FedEx OnSite Postal Service Courier Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$5.61M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.88M
Blend (final)
Blend
$5.74M
Owner & transaction history
Carolina Income Properties Ix LLC · 3 yrs held
Carolina Income Properties Ix LLC
since 2023
Last sale
$6.8M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$3.9M
+41.6%
Restaurant
$3.5M
+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
$5,620,000
ML approach
$5,605,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$3,935,000
Change: +42% · Conversion: Easy
RESTAURANT
$3,525,000
Change: +27% · Conversion: Easy
Blend value · Realmo final
$5.74M
Range $5.17M – $6.31M · ±10% · vs last sale $6.79M (Mar 6 2023)
Last sale anchor
$6.79M
Mar 6 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
$364 / 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
$13,743
Tax year 2022
Assessed value
$4,159,971
Assessed 2024
Previous assessed
$4,159,971
+0.0% YoY
Effective rate
0.33%
On assessed value
Assessed land
$1,627,437
Assessed improvement
$2,532,534
Land market value
$1,627,437
Improvement market value
$2,532,534
Total market value
$4,159,971
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
Drug stores
Use group
DRUG STORE, PHARMACY
Status
Off-Market
Year built
2008
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Bathrooms
2
Total area
15,786 SF
Lot
2 ac (87,251 SF)
APN
6366.09.15.4948000
UPID
US53-2752464
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
COMMERCIAL (GENERAL)
Est. value
$3.9M
RESTAURANT
Est. value
$3.5M
COMMERCIAL (GENERAL)
RESTAURANT
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
Bathrooms
2
Lot
2 ac
Current owner
From public records · entity-resolved
Carolina Income Properties Ix LLC
Entity
Free & Clear · 3 yrs held
Mailing address
450 N PATTERSON AVE STE #300, WINSTON SALEM, NC 27101-4295
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
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 6, 2023
—
Carolina Income Properties Ix LLC
Ds Morehead City Nc Landlord LLC
Assignment Of Lease (leasehold Sale)
—
Mar 6, 2023
$6,792,500
Carolina Income Properties Ix LLC
Ds Morehead City Mclandlord LLC
Special Warranty Deed
—
May 17, 2022
—
Walgreen Co
Ds Morehea City Nc Landlord LLC
Lease
—
May 17, 2022
$6,508,000
Ds Mortgage City Nc Landlord LLC
Waltrust Properties INC
Special Warranty Deed
—
May 27, 2009
$6,516,000
Walgreen Co
Mor-wal LLC
Grant Deed
—
May 27, 2009
—
Waltrust Properties INC
Walgreen
Quit Claim Deed
related
—
Apr 1, 2008
$1,250,000
Mor-wal LLC
Monro Muffler Brake INC
Grant Deed
related
$1,125,000 · Monro Muffler Brake 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.
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