Goldsboro Commercial Property For
For Sale
$159,900
121 N James Street, Goldsboro, NC 27530
COMMERCIAL - Goldsboro, NC
Property Size1,400 SF
Lot Size0.45 Acres
Price / SF$114.21
Days on Market156
Property Features for 121 N James Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
CBDH
Standard status
Active
APN
2599863377
Size
1,400 SF
Lot size
0.45 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
121 N James St
Tax Annual Amount
572
Legal Description
121 N James St
Utilities
Heating system
Forced Air
Building Details
Year built
1949
Floors in Building
1
Flooring type
Concrete
Building materials
Block, Concrete
Roof type
Built-Up, Tar/Gravel
Listing Agency:
ERA Live Moore · ERA Real Estate
(919) 500-7570
Listed By:
Sheila Garcia Holloway · License #269988
(910) 238-6341
Added: Mar 6
Changed: Aug 4
Last Checked: Aug 9 at 2:06AM
MLS# 10151144
Copyright © 2026 Doorify 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.
Located in downtown Goldsboro, this commercial property presents an opportunity for various business uses, including an auto repair shop, garage, workshop, or small business space. The property, situated on approximately 0.45 acres, features a commercial structure built in 1949. The existing structure offers the potential to renovate, expand, or customize the space. Its central location provides access to major roads and the surrounding downtown area. The property is suitable for establishing a shop, creating a functional workspace, or realizing a business vision.
Key Highlights
- Versatile downtown Goldsboro commercial property with an existing structure built in 1949
- Approximately 0.45 acres with commercial block/concrete construction and concrete flooring
- Heating: forced air; roof system includes built‑up and tar/gravel materials
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
$6,247
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
3.91%
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%
$124,940
$124.9K
Cap Rate 7%
$89,243
$89.2K
Cap Rate 9%
$69,411
$69.4K
Market Conditions
NOI Build-Up for 1,400 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
$9.6K $6.84/SF
− Vacancy
−$651 −$0.47/SF
EGI
$8.9K $6.37/SF
− OpEx
−$2.7K −$1.91/SF
NOI
$6.2K $4.46/SF
Area
Wayne County, NC
Vacancy
6.80%
Lease Rate
$6.84 /SF/Yr
Expense Ratio
30.00%
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%
$124,940
Cap Rate 7%
$89,243
Cap Rate 9%
$69,411
Alternative Uses
Best Use
Retail
$245.4K
$214.8K – $286.4K
NOI $17,181 @ 7.0% cap · market cap 10.74%
Second Best
Industrial
$89.2K
$78.1K – $104.1K
NOI $6,247 @ 7.0% cap · market cap 3.91%
Theoretical Best
Specialty Retail
$1.13M
$984.9K – $1.31M
NOI $78,789 @ 7.0% cap · market cap 49.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
257
Businesses Nearby
8k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Dollar General
Shops & Services
5,180 visits/mo
0.4 miles
Sunoco
Shops & Services
1,328 visits/mo
0.4 miles
Carquest Auto Parts
Shops & Services
1,083 visits/mo
0.5 miles
Napa Auto Parts
Shops & Services
585 visits/mo
0.4 miles
Demographics for 27530, NC
37,470
Population
17,796
Households
2.1
Avg Household Size
41
Median Age
22%
College-Educated
89%
High-School Grad
106.5 sq mi
ZIP Area
352
Density / Sq Mi
$55,507
Median Household Income
$37,696
Median Earnings
$827
Median Rent
$176,500
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Beach Tires LLC — 108 n george st, goldsboro, nc 27530
- Gold City Automotive Repair & Diagnostics — 311 E Ash St suite b, Goldsboro, NC 27530
- Ash Street Inspection & Tire — 320 E Ash St, Goldsboro, NC 27530
- Auto Tech Parts & Services — 212 W Walnut St, Goldsboro, NC 27530
- Rick's Used Tires — 315 S George St, Goldsboro, NC 27530
Frequently Asked Questions
What type of property is this?
Auto shop - Versatile commercial property in downtown Goldsboro suitable for various business uses.
Where is this auto shop located?
The property is located at 121 N James Street Goldsboro, NC.
What is the asking price?
The asking price for this property is $159,900.
What are key features of this property?
This property features: Versatile downtown Goldsboro commercial property with an existing structure built in 1949; Approximately 0.45 acres with commercial block/concrete construction and concrete flooring; Heating: forced air; roof system includes built‑up and tar/gravel materials
