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Property profile & analytics
OFF-MARKET
Estimated value
$1,630,000
Strip malls
5317 Hwy 70th W Morehead City, NC 28557-4509
Entity Owned
5-yr Hold
Absentee Owner
Free & Clear
Property ID
US53-2655143
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1998
Construction
STEEL FRAME
Total area
17,210 SF
Lot
1.44 ac (62,683 SF)
APN
6356.07.57.1822000
UPID
US53-2655143
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
-
Dick Lewis - State Farm Insurance Agent Insurance Agency
-
BEAUTY BAR Hair Salon Nail Salon
-
The Hair Factory Salon Suites Hair Salon
-
Sears Heating and Air Conditioning Hardware & Home Improvement HVAC Service
-
Waxing Down Yonder Hair Salon Nail Salon
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.93M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.63M
Owner & transaction history
Was Ventures II LLC · 5 yrs held
Was Ventures II LLC
since 2020
Last sale
$1.4M
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$2.0M
+172.3%
Office building
$1.9M
+155.7%
Medical building
$1.6M
+115.7%
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
$1,895,000
ML approach
$1,930,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$2,010,000
Change: +172% · Conversion: Easy
OFFICE BUILDING
$1,885,000
Change: +156% · Conversion: Moderate
MEDICAL BUILDING
$1,590,000
Change: +116% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,555,000
Change: +111% · Conversion: Difficult
RETAIL STORES
$1,530,000
Change: +107% · Conversion: Easy
RESTAURANT
$1,470,000
Change: +100% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$1,050,000
Change: +42% · Conversion: Difficult
Blend value · Realmo final
$1.63M
Range $1.47M – $1.79M · ±10% · vs last sale $1.35M (Oct 2 2020)
Last sale anchor
$1.35M
Oct 2 2020
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
$95 / 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
$4,553
Tax year 2022
Assessed value
$1,375,091
Assessed 2024
Previous assessed
$1,375,091
+0.0% YoY
Effective rate
0.33%
On assessed value
Assessed land
$722,435
Assessed improvement
$652,656
Land market value
$722,435
Improvement market value
$652,656
Total market value
$1,375,091
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1998
Construction
STEEL FRAME
Heating
HEAT PUMP
Stories
1
Bathrooms
4
Total area
17,210 SF
Lot
1.44 ac (62,683 SF)
APN
6356.07.57.1822000
UPID
US53-2655143
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
$2.0M
OFFICE BUILDING
Est. value
$1.9M
MEDICAL BUILDING
Est. value
$1.6M
AUTO REPAIR, GARAGE
Est. value
$1.6M
RETAIL STORES
Est. value
$1.5M
RESTAURANT
Est. value
$1.5M
INDUSTRIAL (GENERAL)
Est. value
$1.1M
COMMERCIAL (GENERAL)
OFFICE BUILDING
MEDICAL BUILDING
AUTO REPAIR, GARAGE
RETAIL STORES
RESTAURANT
INDUSTRIAL (GENERAL)
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
1998
Construction
STEEL FRAME
Heating
HEAT PUMP
Stories
1
Bathrooms
4
Lot
1.44 ac
Current owner
From public records · entity-resolved
Was Ventures II LLC
Entity
Free & Clear · 5 yrs held
Mailing address
705 E 6TH FRKS RD, RALEIGH, NC 27609-7831
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2020
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
Oct 2, 2020
—
Was Ventures II LLC
Cooper-sherron Farms LLC
Grant Deed
—
Oct 2, 2020
$1,350,000
Was Ventures II LLC
Cooper Sherron Farms LLC
Special Warranty Deed
—
Jul 3, 2013
$1,600,000
Cooper-sherron Farms LLC
Magnolia Investors LLC
Warranty Deed
—
Jul 1, 2013
$1,600,000
Cooper Sherron Farms LLC
Magnolia Investors LLC
Grant Deed
—
Oct 19, 2005
$148,000
Magnolia Investors LLC
West,roberta D
Warranty Deed
$200,000 · Rbc Centura Bank
Jun 24, 2005
$1,300,000
Magnolia Investors LLC
Holler Ventures Ltd
Warranty Deed
$900,000 · Rbc Centura Bank
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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