Fenced Warehouse
For Sale
$750,000
1120 Lt Hardee Road, Greenville, NC 27858
Commercial Sale, Greenville, NC
Property Size2,872 SF
Lot Size2.55 Acres
Price / SF$261.14
Days on Market294
Property Features for 1120 Lt Hardee Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
CG
Subdivision
Not In Subdivision
Directions
Take a left on LT Hardee road off of 10th Street. Property will be less than a quarter mile down on your right.
Standard status
Active
APN
5607407170
Size
2,872 SF
Lot size
2.55 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
SR 1728
Legal Description
SR 1728
Utilities
Sewer type
Septic Tank
Heating system
Propane (Heating)
Water source
Public
Amenities
additional structures
Building Details
Year built
1977
Flooring type
Concrete
Building materials
Metal Siding
Roof type
Metal
Listing Agency:
Keller Williams Realty Points East
(252) 355-6000
Listed By:
Suzanne Hazelton · License #308806
(252) 670-6326
Added: Nov 24, 2025
Changed: Aug 19
Last Checked: Sep 14 at 9:06AM
MLS# 100542716
Copyright © 2026 Hive MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This warehouse property at 1120 LT Hardee Road includes a 2,872-square-foot metal-sided building along with three additional structures on a 2.55-acre commercial tract. The improvements feature concrete flooring, a metal roof, and propane heating. Public water and a septic tank serve the property, while perimeter fencing encloses the site.
The property is zoned CG, or General Commercial, and is situated just off 10th Street in Greenville, North Carolina. Its combination of multiple structures, substantial land area, and secured enclosure provides a straightforward physical setup for warehouse, storage, or operational use. The primary building was constructed in 1977.
The property is zoned CG, or General Commercial, and is situated just off 10th Street in Greenville, North Carolina. Its combination of multiple structures, substantial land area, and secured enclosure provides a straightforward physical setup for warehouse, storage, or operational use. The primary building was constructed in 1977.
Key Highlights
- 2.55‑acre commercial property at 1120 LT Hardee Road, Greenville, NC 27858
- 2,872‑square‑foot metal‑sided warehouse building
- Three additional structures included on the property
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$21,569
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
2.88%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$431,380
$431.4K
Cap Rate 7%
$308,129
$308.1K
Cap Rate 9%
$239,656
$239.7K
Market Conditions
NOI Build-Up for 2,872 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$27.2K $9.48/SF
− Vacancy
−$1.9K −$0.64/SF
EGI
$25.4K $8.84/SF
− OpEx
−$3.8K −$1.33/SF
NOI
$21.6K $7.51/SF
Area
Pitt County, NC
Vacancy
6.80%
Lease Rate
$9.48 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$431,380
Cap Rate 7%
$308,129
Cap Rate 9%
$239,656
Alternative Uses
Best Use
Warehouse
$308.1K
$269.6K – $359.5K
NOI $21,569 @ 7.0% cap · market cap 2.88%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$625.2K
$547.1K – $729.4K
NOI $43,764 @ 7.0% cap · market cap 5.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Fenced yard
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
162
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 27858, NC
52,857
Population
26,281
Households
2
Avg Household Size
31
Median Age
46%
College-Educated
94%
High-School Grad
61.4 sq mi
ZIP Area
861
Density / Sq Mi
$60,915
Median Household Income
$34,598
Median Earnings
$1,042
Median Rent
$233,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in South region
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Similar Off Market Nearby
- Improve Propertie Management — 106 Salem Cir, Greenville, NC 27858
- Storage Unlimited of Greenville NC — 4905 NC-33, Greenville, NC 27858
- AAA Security Self Storage — 4939 NC-33 #33, Greenville, NC 27858
Frequently Asked Questions
What type of property is this?
Warehouse - General Commercial zoning, multiple structures, and enclosed perimeter fencing support varied commercial storage and operational uses.
Where is this warehouse located?
The property is located at 1120 Lt Hardee Road Greenville, NC.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 2.55‑acre commercial property at 1120 LT Hardee Road, Greenville, NC 27858; 2,872‑square‑foot metal‑sided warehouse building; Three additional structures included on the property
