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Property profile & analytics
OFF-MARKET
Estimated value
$3,265,000
Retail space
5456 Hwy 70th W Morehead City, NC 28557-4510
Individually Owned
2-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US53-2501178
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1988
Construction
STEEL FRAME
Total area
19,600 SF
APN
6356.05.29.1357000
UPID
US53-2501178
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
$2.86M
CAP Approach
CAP
$3.50M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.27M
Owner & transaction history
Morehead Climate Controlled Self St · 2 yrs held
Morehead Climate Controlled Self St
since 2023
Last sale
$4.0M
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$4.9M
+41.6%
Restaurant
$4.4M
+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
$3,310,000
ML approach
$2,855,000
CAP Approach
CAP Return
Estimation
6%
$3,785,000
6.5%
$3,495,000
7%
$3,245,000
Alternative Use
Use
Estimation
RETAIL STORES
$3,450,000
Current use
COMMERCIAL (GENERAL)
$4,885,000
Change: +42% · Conversion: Easy
RESTAURANT
$4,380,000
Change: +27% · Conversion: Easy
OFFICE BUILDING
$3,050,000
Change: -12% · Conversion: Easy
Blend value · Realmo final
$3.27M
Range $2.94M – $3.59M · ±10% · vs last sale $4.00M (Nov 13 2023)
Last sale anchor
$4.00M
Nov 13 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
$167 / 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
$1,839
Tax year 2022
Assessed value
$394,667
Assessed 2024
Previous assessed
$394,667
+0.0% YoY
Effective rate
0.47%
On assessed value
Assessed improvement
$394,667
Improvement market value
$394,667
Total market value
$394,667
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1988
Construction
STEEL FRAME
Heating
HEAT PUMP
Stories
1
Bathrooms
2
Total area
19,600 SF
APN
6356.05.29.1357000
UPID
US53-2501178
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
RETAIL STORES Current
Est. value
$3.5M
COMMERCIAL (GENERAL)
Est. value
$4.9M
RESTAURANT
Est. value
$4.4M
OFFICE BUILDING
Est. value
$3.1M
RETAIL STORES Current
COMMERCIAL (GENERAL)
RESTAURANT
OFFICE 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
STEEL FRAME
Heating
HEAT PUMP
Stories
1
Bathrooms
2
Current owner
From public records · entity-resolved
Morehead Climate Controlled Self St
Individual
Mailing address
1400 DILLS CRK LN STE #405, MOREHEAD CITY, NC 28557-4750
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 13, 2023
$4,000,000
Morehead Climate Controlled Self St
Laben LLC
Special Warranty Deed
$2,800,000 · Laben LLC
Feb 3, 2021
—
Laben LLC
—
Deed
related
$372,000 · Truist Bank
Apr 8, 2009
—
Laben LLC
—
Trustees Deed
related
$370,000 · First Citizens Bank & Trust Co
—
—
Leben LLC
—
Deed Of Trust
related
$550,466 · Wells Fargo Bank
—
—
Laben LLC
—
Loan Modification
related
$1,094,156 · Wells Fargo 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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