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Property profile & analytics
OFF-MARKET
Estimated value
$10,050,000
Auto shops
901 Shepard St Morehead City, NC 28557
Entity Owned
3-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US53-2522223
Property profile
Verified
Property type
Auto shops
Use group
AUTO REPAIR, GARAGE
Year built
1993
Construction
WOOD
Total area
2,368 SF
Lot
1.18 ac (51,575 SF)
Zoning code
CM
APN
6386.19.60.5660000
UPID
US53-2522223
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
$9.11M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$10.05M
Owner & transaction history
Shepard Street Development INC · 3 yrs held
Shepard Street Development INC
since 2023
Last sale
$11.0M
4 recorded transactions
Zoning & alternative use
CM · Morehead City, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$9,100,000
ML approach
$9,105,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$10.05M
Range $9.05M – $11.06M · ±10% · vs last sale $11.00M (Jul 7 2023)
Last sale anchor
$11.00M
Jul 7 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
$4,244 / 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
$3,271
Tax year 2022
Assessed value
$855,000
Assessed 2024
Previous assessed
$986,603
-13.3% YoY
Effective rate
0.38%
On assessed value
Assessed land
$855,000
Land market value
$855,000
Total market value
$855,000
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
Auto shops
Use group
AUTO REPAIR, GARAGE
Status
Off-Market
Year built
1993
Construction
WOOD
Heating
SPACE
Buildings
2
Stories
1
Bathrooms
3
Total area
2,368 SF
Lot
1.18 ac (51,575 SF)
Zoning code
CM
APN
6386.19.60.5660000
UPID
US53-2522223
Jurisdiction
CARTERET
Zoning & alternative use
CM · Morehead City, NC
Zoning CM · permitted uses
CM · Morehead City, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Morehead City. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1993
Construction
WOOD
Heating
SPACE
Stories
1
Buildings
2
Bathrooms
3
Lot
1.18 ac
Current owner
From public records · entity-resolved
Shepard Street Development INC
Entity
Mailing address
125 HORTON DR, MOREHEAD CITY, NC 28557-4528
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 7, 2023
$11,000,000
Shepard Street Development INC
Residence At 9th LLC
Special Warranty Deed
$1,000,000 · Residence At 9th LLC
Apr 8, 2022
$3,125,000
Residence At 9th LLC
Dockyard LLC
Warranty Deed
$4,010,000 · First National Bank Of Pennsylvania
Oct 5, 2018
—
Dockyard LLC
Russell Thomas H SR
Grant Deed
—
Oct 11, 2013
—
Elizabeth Russell Mason
Russell,thomas H
Quit Claim Deed
related
—
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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