501 35Th StMorehead City, NC 28557

Property Details for 501 35Th St

Year built

1994

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

1.01 AC

Property size (Sq ft)

5,248 SF

Zone code

R20

Property type

Office buildings

APN

6376.14.44.5403000

APU

637614445403000

Description

This exceptional 5,286-square-foot industrial warehouse in Morehead City, North Carolina, presents a unique investment opportunity. Located in a prestigious office park setting at 501 N 35th Street, this well-maintained brick building boasts a versatile interior layout. Currently configured with 18 individual offices, multiple conference rooms, a break room/kitchen, and a spacious common area, the property offers significant flexibility for various business needs. Several entry points enhance accessibility and operational efficiency. A substantial 1,200-square-foot walk-up area, complete with HVAC and sheetrock walls, provides ample potential for storage expansion or additional workspace. Ample parking is available, conveniently situated on both 35th Street and John Platt Road. The property's beautifully landscaped surroundings contribute to its attractive and professional appeal. This single-tenant property is situated in Carteret County, NC, zip code 28557, and is priced competitively below market value. The property is classified as both industrial and commercial, offering a wide range of potential uses. This is a rare opportunity to acquire a well-maintained, versatile property in a desirable location.

• CAP approach

  CAP return

  Valuation

  6%

  $1,103,510

  6.5%

  $1,018,620

  7%

  $945,862

• Comparable approach

  Method

  Valuation

  Relative Method

  $588,988

  Geo Method

  $1,204,630

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $2,018,430

  Retail / Commercial

  $1,032,490

  Mixed-Use / Specialty

  $1,026,810

  Hospitality / Lodging

  $750,727

  Institutional / Educational

  $1,066,750

  Residential Income

  $1,248,100

  Multifamily

  $1,508,020

  Automotive / Energy

  $914,358

  Parking / Income-Based Land

  $317,515

  Restaurant / Food Service

  $529,773

  Healthcare / Senior Housing

  $1,055,030

Location Insight

City

Morehead City

County

Carteret

State

North Carolina

Latitude

34.7306

Longitude

-76.7546

CBSA code

33980

CBSA name

MOREHEAD CITY, NC MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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