Multi-Building Storefront
For Sale
$695,000
2707 Royall Avenue, Goldsboro, NC 27534
Commercial Sale, Goldsboro, NC
Property Size2,731 SF
Lot Size1.49 Acres
Price / SF$254.49
Days on Market418
Property Features for 2707 Royall Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
NB
Subdivision
Not In Subdivision
Directions
N. Spence Avenue from Ash Street, turn right on Royall Avenue, property on left just past Sunburst Drive
Standard status
Active
APN
3519560197
Size
2,731 SF
Lot size
1.49 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
Deed Book 1061, Page 22 - Wayne County
Legal Description
Deed Book 1061, Page 22 - Wayne County
Utilities
Heating system
Electric (Heating)
Building Details
Year built
1955
Listing Agency:
Wayne Realty
(919) 735-1341
Listed By:
Bob Logan · License #72422
(919) 735-1876
Added: Jul 10, 2025
Changed: Aug 20
Last Checked: Aug 31 at 6:06AM
MLS# 100518562
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 storefront property contains 2,731 square feet across six buildings on 1.49 acres. Three buildings are currently leased. The main building was formerly occupied by the seller, while two additional buildings have been used for storage. The property was built in 1955 and has electric heating.
The site is located at 2707 Royall Avenue in Goldsboro, North Carolina, within Wayne County. NB zoning applies to the property.
The site is located at 2707 Royall Avenue in Goldsboro, North Carolina, within Wayne County. NB zoning applies to the property.
Key Highlights
- 2,731‑square‑foot storefront property on 1.49 acres
- Six buildings included in the property
- Three buildings currently leased
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
$33,516
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
4.82%
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%
$670,320
$670.3K
Cap Rate 7%
$478,800
$478.8K
Cap Rate 9%
$372,400
$372.4K
Market Conditions
NOI Build-Up for 2,731 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
$49.2K $18.00/SF
− Vacancy
−$1.3K −$0.47/SF
EGI
$47.9K $17.53/SF
− OpEx
−$14.4K −$5.26/SF
NOI
$33.5K $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%
$670,320
Cap Rate 7%
$478,800
Cap Rate 9%
$372,400
Alternative Uses
Best Use
Retail
$478.8K
$419.0K – $558.6K
NOI $33,516 @ 7.0% cap · market cap 4.82%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.20M
$1.92M – $2.56M
NOI $153,694 @ 7.0% cap · market cap 22.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
832
Businesses Nearby
604k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 48%
Shops & Services 23%
Dining 21%
Office Supplies 3%
Walmart
Superstores
93,651 visits/mo
0.3 miles
Sam's Club
Superstores
93,302 visits/mo
0.3 miles
Target
Superstores
81,235 visits/mo
0.3 miles
Five Below
Shops & Services
40,458 visits/mo
0.4 miles
Sheetz
Shops & Services
34,703 visits/mo
0.4 miles
Demographics for 27534, NC
30,844
Population
15,158
Households
2
Avg Household Size
38
Median Age
29%
College-Educated
91%
High-School Grad
73.1 sq mi
ZIP Area
422
Density / Sq Mi
$59,950
Median Household Income
$39,686
Median Earnings
$1,106
Median Rent
$187,700
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.
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Frequently Asked Questions
What type of property is this?
Storefront property - Six buildings include three leased structures, a former owner-occupied main building, and two buildings used for storage.
Where is this storefront property located?
The property is located at 2707 Royall Avenue Goldsboro, NC.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: 2,731‑square‑foot storefront property on 1.49 acres; Six buildings included in the property; Three buildings currently leased
