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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    New Bern, NC 28562

    • Distribution properties
    • 1,200 SF
    • 11.02 lot acres
    OFF-MARKET
    Last Sale
    Aug 17, 2020
    $1,568,000
    Value Estimations
    $1,910,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-3961540
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Distribution properties

    Property Details

    Year built
    2021
    Lot size
    11.02 lot acres
    Property size
    1,200 SF
    Property type
    Distribution properties
    APN
    8-209 -25000
    APU
    820925000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,910,000
      ML approach
      $2,850,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    New Bern
    County
    Craven
    State
    North Carolina
    Longitude
    -77.1256
    Latitude
    35.1315
    CBSA code
    35100
    CBSA name
    NEW BERN, NC MICROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $221,823
    $0.00
    $24,640,000
    $24,640,000
    -
    $0.00
    $24,640,000
    $24,640,000

    Comparable in this City

    • Value Estimation
      $390,000
      1,024 SF

      1315 Country Clb Rd

      COM AUTO TRANS/STORAGE • 1,024 SF
      1315 Country Clb Rd, New Bern, NC 28562
      View Details
    • Value Estimation
      $550,000
      1,200 SF

      5405 Morton Rd

      COM AUTO TRANS/STORAGE • 1,200 SF
      5405 Morton Rd, Trent Woods, NC 28562-5031
      View Details
    • Value Estimation
      $840,000
      28,000 SF

      3710 M L King Jr Blvd

      DISTRIBUTION WAREHOUSE • 28,000 SF
      3710 M L King Jr Blvd, New Bern, NC 28562-2250
      View Details
    • Value Estimation by Request
      3,335 SF

      718 Pollock St

      Distribution properties • 3,335 SF
      718 Pollock St, New Bern, NC 28562
      View Details
    • Value Estimation by Request

      4.8 Acres Racetrack Rd

      Distribution properties
      0 4.8 Acres Racetrack Rd, New Bern, NC 28562
      View Details
    • Value Estimation by Request
      9,700 SF

      110 Corporate Ln

      DISTRIBUTION WAREHOUSE • 9,700 SF
      110 Corporate Ln, New Bern, NC 28562
      View Details

    Similar Nearby for Sale

    • $685,000
      3,335 SF

      Historic New Bern Inn - $685,000

      Charming Inn, 5 Guest Rooms, Downtown
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    • $1,520,000
      7.60 Acres

      River Bend Town Center Lot #2

      7.6-acre development site in New Bern, NC
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    • $495,000
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      Highway 17 Development Land

      20 Acres, Commercial/Residential Potential
      5650 Us Highway 17, New Bern, NC 28562
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    • $575,000

      Prime Commercial Land in New Bern

      1.08 acre commercial land with preliminary site layout.
      1390 Mccarthy Blvd, New Bern, NC 28562
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    • $70,000
      Pending

      Residential Lots in Hickory Run

      34 residential lots available in desirable River Trace community.
      Starling Ln, New Bern, NC 28562
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    • $80,000
      Pending

      Residential Lots in Hickory Run

      Residential lots available in desirable New Bern community.
      Junco Ct, New Bern, NC 28562
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Industrial Build-to-Suit Opportunity

      Under construction industrial spaces available for flex, warehouse, distribution.
      201 Industrial Dr, New Bern, NC 28562
      View Details
    • $9 SF/Yr
      23,000 SF

      Flex Space in New Bern, NC

      Versatile Industrial Space Available
      3200 Wellons Blvd, New Bern, NC 28562
      View Details
    • $4 SF/Yr
      42,000 SF

      Bosch Blvd Industrial Warehouse

      42,000 SF Warehouse Space Available
      197 Bosch Blvd, New Bern, NC 28562
      View Details
    • $500 /Mo
      177,725 SF

      New Maxi Storage Space Available

      Newly built storage units for rent in New Bern, NC.
      4146 Dr. Mlk Blvd, New Bern, NC 28562
      View Details
    • $11 SF/Yr

      Craven County Flex Warehouse Space

      Heated and cooled flex warehouse space available for lease.
      155 Innovation Way, New Bern, NC 28562
      View Details
    • $10 SF/Yr
      23,100 SF

      New Bern Flex Space Available

      Office, warehouse, or medical space for lease in New Bern.
      3200 Wellons Blvd, New Bern, NC 28562
      View Details
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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