Commercial Land Near
For Sale
$2,200,000
2600 E Ash Street, Goldsboro, NC 27354
Commercial Sale, Goldsboro, NC
Property Size5,635 SF
Lot Size2.41 Acres
Price / SF$390.42
Days on Market357
Property Features for 2600 E Ash Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
GB
Subdivision
Not In Subdivision
Directions
N. Berkeley Blvd., right on Ash Street, property on left.
Standard status
Active
APN
3519115658
Size
5,635 SF
Lot size
2.41 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
See Deed Book 3131, Page 552 - Wayne County
Legal Description
See Deed Book 3131, Page 552 - Wayne County
Utilities
Heating system
Electric (Heating)
Building Details
Year built
1990
Listing Agency:
Wayne Realty
(919) 735-1341
Listed By:
Bob Logan · License #72422
(919) 735-1876
Added: Sep 9, 2025
Changed: Aug 19
Last Checked: Aug 31 at 7:06AM
MLS# 100529904
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 commercial land parcel at 2600 E Ash Street comprises 2.41 acres and carries GB zoning. The property is positioned for retail redevelopment, with Walgreens directly adjacent and access to East Ash Street near South Berkeley Boulevard.
The site is located two blocks from the main entrance to Seymour Johnson Air Force Base. Reported traffic volumes are 17,000 AADT on Ash Street and 20,000 AADT on Berkeley Boulevard, providing measurable exposure within the immediate commercial area.
The site is located two blocks from the main entrance to Seymour Johnson Air Force Base. Reported traffic volumes are 17,000 AADT on Ash Street and 20,000 AADT on Berkeley Boulevard, providing measurable exposure within the immediate commercial area.
Key Highlights
- 2.41‑acre commercial land parcel
- GB zoning
- Adjacent to Walgreens
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
$69,155
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
3.14%
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%
$1,383,100
$1.4M
Cap Rate 7%
$987,929
$987.9K
Cap Rate 9%
$768,389
$768.4K
Market Conditions
NOI Build-Up for 5,635 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
$101.4K $18.00/SF
− Vacancy
−$2.6K −$0.47/SF
EGI
$98.8K $17.53/SF
− OpEx
−$29.6K −$5.26/SF
NOI
$69.2K $12.27/SF
Area
Wayne County, NC
Vacancy
2.60%
Lease Rate
$18.00 /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%
$1,383,100
Cap Rate 7%
$987,929
Cap Rate 9%
$768,389
Alternative Uses
Best Use
Retail
$987.9K
$864.4K – $1.15M
NOI $69,155 @ 7.0% cap · market cap 3.14%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.53M
$3.96M – $5.29M
NOI $317,125 @ 7.0% cap · market cap 14.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
804
Businesses Nearby
367k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 59%
Shops & Services 29%
Apparel 7%
Home Improvements & Furnishings 4%
Hobby Lobby
Shops & Services
43,972 visits/mo
0.2 miles
McDonald's
Dining
39,101 visits/mo
0.4 miles
Zaxby's Chicken Fingers & Buffalo Wings
Dining
28,903 visits/mo
0.2 miles
SONIC Drive In
Dining
19,017 visits/mo
0.5 miles
Michaels
Shops & Services
18,662 visits/mo
0.4 miles
Market
Vacancy Rate% for Retail in South region
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 - GB-zoned commercial land along East Ash Street near Walgreens and Seymour Johnson Air Force Base.
Where is this commercial land located?
The property is located at 2600 E Ash Street Goldsboro, NC.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: 2.41‑acre commercial land parcel; GB zoning; Adjacent to Walgreens
