2900 Arendell StMorehead City, NC 28557

Property Details for 2900 Arendell St

Year built

1971

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

17.63 AC

Property size (Sq ft)

99,630 SF

Property type

Commercial real estate

APN

6376.16.82.0869000

APU

637616820869000

Description

This exceptional retail opportunity is located at 2900 Arendell St, Morehead City, NC 28557, in Carteret County. The property, known as Morehead Plaza, offers a total of 8,325 square feet of immediately available space, perfect for a variety of retail uses. This space can be leased as a single unit or divided into two smaller spaces, approximately 2,400 square feet and 5,925 square feet, providing flexibility for different business needs. The maximum contiguous space available is 10,625 square feet, indicating potential for expansion or future tenant growth within the center. The property is classified as a shopping center with multiple tenancy. The lease rate is $15.00 per square foot gross. This high-traffic location in Morehead City presents a unique chance to establish or expand a retail business in a thriving community. The property's convenient location and ample space make it an ideal investment for businesses seeking a prominent presence in the Carteret County market. Don't miss this chance to secure a prime retail location in a desirable area.

• CAP approach

  CAP return

  Valuation

  6%

  $20,949,400

  6.5%

  $19,337,900

  7%

  $17,956,600

• Comparable approach

  Method

  Valuation

  Relative Method

  $11,181,600

  Geo Method

  $22,869,100

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $38,318,600

  Retail / Commercial

  $19,601,300

  Mixed-Use / Specialty

  $19,493,300

  Hospitality / Lodging

  $14,252,100

  Office

  $19,337,900

  Institutional / Educational

  $20,251,600

  Residential Income

  $23,694,400

  Multifamily

  $28,628,800

  Automotive / Energy

  $17,358,500

  Parking / Income-Based Land

  $6,027,820

  Restaurant / Food Service

  $10,057,400

  Healthcare / Senior Housing

  $20,029,100

Location Insight

City

Morehead City

County

Carteret

State

North Carolina

Latitude

34.7258

Longitude

-76.743

CBSA code

33980

CBSA name

MOREHEAD CITY, NC MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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