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Property profile & analytics
OFF-MARKET
Estimated value
$1,815,000
Medical Office Space
702 Newman Rd New Bern, NC 28562-5238
Entity Owned
Free & Clear
Property ID
US53-2598500
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1986
Total area
23,226 SF
Lot
3.28 ac (142,877 SF)
APN
8-212-1 -007
UPID
US53-2598500
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
-
Jennings Nestor Physician
-
Zhicheng Li Physician Medical Clinic
-
Coastal Carolina Health Care Medical Clinic
-
Danielle E. Parrish, PA-C Physician
-
Milkowski Deborah A MD Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.21M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.42M
Blend (final)
Blend
$1.82M
Owner & transaction history
WEST NEW BERN PROPERTIES PTNRSHP
WEST NEW BERN PROPERTIES PTNRSHP
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Warehouse, storage
$2.5M
+10.2%
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 New Bern submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs New Bern 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
by Request
ML approach
$1,210,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$2,310,000
Current use
WAREHOUSE, STORAGE
$2,545,000
Change: +10% · Conversion: Difficult
Blend value · Realmo final
$1.82M
Range $1.63M – $2.00M · ±10%
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
$78 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$39,200
Tax year 2024
Assessed value
$4,695,790
Assessed 2024
Previous assessed
$4,695,790
+0.0% YoY
Effective rate
0.83%
On assessed value
Assessed land
$729,190
Assessed improvement
$3,966,600
Land market value
$729,190
Improvement market value
$3,966,600
Total market value
$4,695,790
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1986
Heating
ZONE
Cooling
YES
Buildings
2
Stories
1
Total area
23,226 SF
Lot
3.28 ac (142,877 SF)
APN
8-212-1 -007
UPID
US53-2598500
Jurisdiction
CRAVEN
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
MEDICAL BUILDING Current
Est. value
$2.3M
WAREHOUSE, STORAGE
Est. value
$2.5M
MEDICAL BUILDING Current
WAREHOUSE, STORAGE
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
1986
Heating
ZONE
Cooling
Yes
Stories
1
Buildings
2
Lot
3.28 ac
Current owner
From public records · entity-resolved
WEST NEW BERN PROPERTIES PTNRSHP
Individual
Free & Clear · 0 yrs held
Mailing address
702 NEWMAN RD, NEW BERN, NC 28562-5238
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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