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Property profile & analytics
FOR SALE
Office buildings
5447 Hwy 70 Morehead City, NC 28557
Individually Owned
2-yr Hold
Free & Clear
Property ID
US53-2726637
For Sale
1 / 10
$900,000
5447 Hwy 70, Morehead City, NC 28557
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1988
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
4,000 SF
Lot
0.92 ac (39,988 SF)
APN
6356.05.28.1841000
UPID
US53-2726637
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
$900k
CAP Approach
CAP
$1.02M
Comparable Approach
Comparable
$574k
Blend (final)
Blend
$900k
Owner & transaction history
Mechworks Mechanical Contractors In · 2 yrs held
Mechworks Mechanical Contractors In
since 2024
Last sale
$900,000
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$995,000
+60.1%
Retail stores
$705,000
+13.1%
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
$900,000
ML approach
$900,000
CAP Approach
CAP Return
Estimation
6%
$1,100,000
6.5%
$1,015,000
7%
$945,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$625,000
Current use
COMMERCIAL (GENERAL)
$995,000
Change: +60% · Conversion: Easy
RETAIL STORES
$705,000
Change: +13% · Conversion: Moderate
MEDICAL BUILDING
$560,000
Change: -10% · Conversion: Easy
Blend value · Realmo final
$900k
Range $810k – $990k · ±10% · vs last sale $900k (Jan 9 2024)
Last sale anchor
$900k
Jan 9 2024
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
$225 / 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
$2,332
Tax year 2022
Assessed value
$511,158
Assessed 2024
Previous assessed
$511,158
+0.0% YoY
Effective rate
0.46%
On assessed value
Assessed land
$214,775
Assessed improvement
$296,383
Land market value
$214,775
Improvement market value
$296,383
Total market value
$511,158
Applied tax rate
32.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
For Sale
Year built
1988
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Stories
1
Bathrooms
2
Total area
4,000 SF
Lot
0.92 ac (39,988 SF)
APN
6356.05.28.1841000
UPID
US53-2726637
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
OFFICE BUILDING Current
Est. value
$625,000
COMMERCIAL (GENERAL)
Est. value
$995,000
RETAIL STORES
Est. value
$705,000
MEDICAL BUILDING
Est. value
$560,000
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
RETAIL STORES
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
1988
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Stories
1
Bathrooms
2
Lot
0.92 ac
Current owner
From public records · entity-resolved
Mechworks Mechanical Contractors In
Individual
Free & Clear · 2 yrs held
Mailing address
PO BOX 1168, MOREHEAD CITY, NC 28557-1168
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 9, 2024
$900,000
Mechworks Mechanical Contractors In
Edward R Griffiths
Warranty Deed
—
Oct 19, 2009
—
Edward R Griffiths
—
Deed Of Trust
related
$1,584,679 · Branch Banking & Trust Co
—
—
Edward R Griffiths
—
Deed Of Trust
related
$25,000 · Sound Bank
—
—
Edward R Griffiths
—
Deed Of Trust
related
$460,000 · Sound Bank
—
—
Edward R Griffiths
—
Deed Of Trust
related
$840,000 · Sound 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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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