Brick Flex Property with Warehouse
For Sale
$750,000
300 Park Avenue, Goldsboro, NC 27530
Commercial Sale, Goldsboro, NC
Property Size1,176 SF
Lot Size1.15 Acres
Price / SF$637.76
Days on Market142
Property Features for 300 Park Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
O&I
Subdivision
Not In Subdivision
Directions
From I-95: Exit 97 to Hwy 42 (US 70) East towards Goldsboro; (once in Goldsboro, Turn RIGHT on N Williams St; .4 miles to LEFT on Park Ave. Property will be on the RIGHT. From Kinston: US 70W towards Goldsboro; 12 miles keep RIGHT on US-117; .2miles LEFT onto N William St; 1.1 mile LEFT on Park Ave. Property will be on the RIGHT.
Standard status
Active
APN
12000032001003d
Size
1,176 SF
Lot size
1.15 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
E Park Ave
Tax Annual Amount
2514
Legal Description
E Park Ave
Utilities
Heating system
Electric (Heating)
Building Details
Year built
1940
Listing Agency:
The Thomas Parker Realty Group
Listed By:
Thomas Parker · License #327829
(919) 631-7400
Added: Apr 21
Changed: Aug 19
Last Checked: Sep 9 at 9:06AM
MLS# 100568720
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 flex property includes multiple brick buildings with conditioned office areas, private offices, an open work area, waiting space, restroom facilities, storage areas, and warehouse space. A separate former gymnasium provides additional storage, while the main building includes an unfinished attic and a pitched asphalt-shingle roof. Electric heating and municipal utility connections serve the property.
The 1.15-acre site has road frontage on Park Avenue and N Daisy Street, plus a 27-foot-wide connection along the gymnasium’s southern wall to Daisy Street. The property is zoned O&I and sits minutes from I-95 and I-40. The office and warehouse building dates to 1950, with additional office and warehouse areas added in the 1980s; the gymnasium was built in 1940.
The 1.15-acre site has road frontage on Park Avenue and N Daisy Street, plus a 27-foot-wide connection along the gymnasium’s southern wall to Daisy Street. The property is zoned O&I and sits minutes from I-95 and I-40. The office and warehouse building dates to 1950, with additional office and warehouse areas added in the 1980s; the gymnasium was built in 1940.
Key Highlights
- 1.15‑acre flex property with multiple brick buildings
- O&I zoning with frontage on Park Avenue and N Daisy Street
- 27‑foot‑wide southern access stretch along the gymnasium to Daisy Street
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
$53,589
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
7.15%
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%
$1,071,780
$1.1M
Cap Rate 7%
$765,557
$765.6K
Cap Rate 9%
$595,433
$595.4K
Market Conditions
NOI Build-Up for 1,176 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
$90.6K $77.04/SF
− Vacancy
−$8.2K −$6.93/SF
EGI
$82.4K $70.11/SF
− OpEx
−$28.9K −$24.54/SF
NOI
$53.6K $45.57/SF
Area
Wayne County, NC
Vacancy
9.00%
Lease Rate
$77.04 /SF/Yr
Expense Ratio
35.00%
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%
$1,071,780
Cap Rate 7%
$765,557
Cap Rate 9%
$595,433
Alternative Uses
Best Use
Flex RnD
$765.6K
$669.9K – $893.2K
NOI $53,589 @ 7.0% cap · market cap 7.15%
Second Best
Office B
$218.8K
$191.5K – $255.3K
NOI $15,317 @ 7.0% cap · market cap 2.04%
Theoretical Best
Specialty Retail
$945.5K
$827.3K – $1.10M
NOI $66,183 @ 7.0% cap · market cap 8.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,058
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
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 Office 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?
Flex space - Multiple brick buildings combine conditioned office areas with warehouse and storage space on municipal utilities.
Where is this flex space located?
The property is located at 300 Park Avenue Goldsboro, 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: 1.15‑acre flex property with multiple brick buildings; O&I zoning with frontage on Park Avenue and N Daisy Street; 27‑foot‑wide southern access stretch along the gymnasium to Daisy Street
