Cleared Lot with Metal
For Sale
$75,000
730 Chatham Street lot 5, Newport, NC 28570
LAND - Newport, NC
Property Size900 SF
Lot Size0.35 Acres
Price / SF$83.33
Days on Market444
Property Features for 730 Chatham Street lot 5
General Information
Property type
Land
Property subtype
Other
Zoning
Undeveloped
Lot features
Rural
Elementary school
Newport
Middle school
Newport Middle
High school
West Carteret
Directions
Hwy 70 to Chatham Street
Standard status
Active
APN
633920918572000
Size
900 SF
Lot size
0.35 Acres
Taxes and HOA fees
Tax Year
2023
Tax Description
Lot 5 Henry E Mann SD
Tax Annual Amount
125
Legal Description
Lot 5 Henry E Mann SD
Building Details
Additional Structures
Workshop
Listing Agency:
John Vesco Inc.
(252) 444-3790
Listed By:
RuthAnn S. Sluss · License #213458
(252) 422-1288
Added: May 23, 2025
Changed: Apr 15
Last Checked: Aug 9 at 5:06PM
MLS# 100509571
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 features a cleared 0.35-acre lot located on Chatham Street in Newport, NC. It includes a 30x30 metal building with two roll-up doors, a walk-in man door, and a concrete floor. The property is outside city limits and has no city taxes or HOA dues. A soil evaluation conducted in September 2025 classified the land as unsuitable for a septic permit. There is no electric, water, or septic currently on the lot. The property is not permitted for residential use.
Key Highlights
- Cleared .35 Acre Lot
- 30x30 Metal Building with Concrete Floor: Featuring two roll‑up doors and a walk‑in man door.
- No City Taxes
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
$5,976
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
7.97%
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%
$119,520
$119.5K
Cap Rate 7%
$85,371
$85.4K
Cap Rate 9%
$66,400
$66.4K
Market Conditions
NOI Build-Up for 900 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
$7.6K $8.40/SF
− Vacancy
−$529 −$0.59/SF
EGI
$7.0K $7.81/SF
− OpEx
−$1.1K −$1.17/SF
NOI
$6.0K $6.64/SF
Area
Carteret County, NC
Vacancy
7.00%
Lease Rate
$8.40 /SF/Yr
Expense Ratio
15.00%
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%
$119,520
Cap Rate 7%
$85,371
Cap Rate 9%
$66,400
Alternative Uses
Best Use
Warehouse
$85.4K
$74.7K – $99.6K
NOI $5,976 @ 7.0% cap · market cap 7.97%
Second Best
Industrial
$75.7K
$66.3K – $88.4K
NOI $5,301 @ 7.0% cap · market cap 7.07%
Theoretical Best
Office A
$270.0K
$236.3K – $315.0K
NOI $18,900 @ 7.0% cap · market cap 25.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
48
Businesses Nearby
Explore this area
Business Placement
Demographics for 28570, NC
21,647
Population
10,819
Households
2
Avg Household Size
46
Median Age
24%
College-Educated
92%
High-School Grad
148.8 sq mi
ZIP Area
145
Density / Sq Mi
$69,018
Median Household Income
$36,753
Median Earnings
$951
Median Rent
$245,300
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - Cleared 0.35-acre lot with metal building in Newport, NC.
Where is this commercial land located?
The property is located at 730 Chatham Street lot 5 Newport, NC.
What is the asking price?
The asking price for this property is $75,000.
What are key features of this property?
This property features: Cleared .35 Acre Lot; 30x30 Metal Building with Concrete Floor: Featuring two roll‑up doors and a walk‑in man door.; No City Taxes
