Commercial Income Property with
For Sale
$240,000
256 U.S Highway 70 W, Havelock, NC 28532
Commercial Sale, Havelock, NC
Property Size1,140 SF
Lot Size0.37 Acres
Price / SF$210.53
Days on Market229
Property Features for 256 U.S Highway 70 W
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Comm
Parking
2
Parking features
Off Street, Carport
Subdivision
Not In Subdivision
Lot features
Interior Lot
Directions
- Leave from Broad St/US-70 Bus W/US-17 S/NC-55 - Turn left onto Bern St - Turn left onto Pollock St - Turn left onto George St - Turn right onto Broad St/US-70 Bus E/US-17 N/NC-55 - At the roundabout take the first exit onto E Front St/US-70 Bus E/US-17 N/NC-55 - Bear left at US Highway 70 E/US-70 E toward Havelock - Follow US Highway 70 E/US-70 E - Take the right exit onto United St
Standard status
Active
APN
6-044-30000
Size
1,140 SF
Lot size
0.37 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
Lot 1-A Survey Norris G. Dillahunt Jr & Josietta
Tax Annual Amount
3004
Legal Description
Lot 1-A Survey Norris G. Dillahunt Jr & Josietta
Utilities
Heating system
Heat Pump (Heating), Electric (Heating)
Water source
Public
Building Details
Year built
1947
Number of units
1
Flooring type
Wood
Building materials
Block
Roof type
Shingle
Listing Agency:
Keller Williams Realty Points East
(252) 355-6000
Listed By:
Carolyn Joyner · License #354621
(919) 740-8368
Added: Jan 5
Changed: Aug 19
Last Checked: Aug 22 at 6:06PM
MLS# 100547409
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 property is being sold as part of a bundle deal and will not be sold separately. The listing includes Lot#2 Survey, Parcel# 6-044-30001, and references MLS#100504214 as part of the same bundle. The property comes with a detached storage building.
Located in Havelock, North Carolina at 256 U.S. Highway 70 W, the site is described as having a high-traffic highway connection leading toward the North Carolina beaches.
The property is identified as a single-family income property with commercial zoning.
Located in Havelock, North Carolina at 256 U.S. Highway 70 W, the site is described as having a high-traffic highway connection leading toward the North Carolina beaches.
The property is identified as a single-family income property with commercial zoning.
Key Highlights
- Built in 1947 with block construction and a shingle roof
- Heating includes electric heat and a heat pump
- Wood flooring throughout
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
$9,314
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
3.88%
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%
$186,280
$186.3K
Cap Rate 7%
$133,057
$133.1K
Cap Rate 9%
$103,489
$103.5K
Market Conditions
NOI Build-Up for 1,140 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
$17.9K $15.72/SF
− Vacancy
−$986 −$0.86/SF
EGI
$16.9K $14.86/SF
− OpEx
−$7.6K −$6.68/SF
NOI
$9.3K $8.17/SF
Area
Craven County, NC
Vacancy
5.50%
Lease Rate
$15.72 /SF/Yr
Expense Ratio
45.00%
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%
$186,280
Cap Rate 7%
$133,057
Cap Rate 9%
$103,489
Alternative Uses
Best Use
Apartment 5plus
$133.1K
$116.4K – $155.2K
NOI $9,314 @ 7.0% cap · market cap 3.88%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$375.9K
$328.9K – $438.5K
NOI $26,310 @ 7.0% cap · market cap 10.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
234
Businesses Nearby
Explore this area
Business Placement
Demographics for 28532, NC
20,340
Population
8,677
Households
2.3
Avg Household Size
33
Median Age
19%
College-Educated
93%
High-School Grad
165.4 sq mi
ZIP Area
123
Density / Sq Mi
$65,772
Median Household Income
$38,839
Median Earnings
$1,270
Median Rent
$193,200
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Commercial land - Single-family income property for sale in Havelock with a detached storage building and commercial zoning.
Where is this commercial land located?
The property is located at 256 U.S Highway 70 W Havelock, NC.
What is the asking price?
The asking price for this property is $240,000.
What are key features of this property?
This property features: Built in 1947 with block construction and a shingle roof; Heating includes electric heat and a heat pump; Wood flooring throughout
