Modern Storefront with Display
For Sale
$150,000
Pending
1002 Pollock St Unit A, New Bern, NC 28562
Modern finishes, display windows, and an accessible half bath support retail, studio, office, or specialty service uses.
Property Size638 SF
Days on Market364
Property Features for 1002 Pollock St Unit A
General Information
Standard status
Pending
Size
638 SF
Property subtype
Commercial
Additional Details
Corner Location
Yes
Amenities
modern finishes
glass door
large display windows
9-foot ceilings
handicap-accessible half bath
business-grade Wi-Fi
flexible parking options
smart building capabilities
optional elevator
Building Details
Year Built
2026
Listing Agency:
Brick + Willow LLC
Listed By:
Brad Pino · License #265728
(252) 671-0841
Source:
Coastalrealtyassociates
Added: Sep 10, 2025
Changed: Sep 5
Last Checked: Sep 7 at 9:50AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Brick + Willow LLC
Investment Insights
Based on property information with market context.
This 638-square-foot storefront unit at 1002 Pollock St Unit A offers a polished commercial setting within the Kings Domain mixed-use development. Built in 2026, the space features modern finishes, a glass entry door, large display windows, and 9-foot ceilings. A handicap-accessible half bath, business-grade Wi-Fi, smart building capabilities, and flexible parking add practical functionality. The unit may expand to 638 square feet with adjoining garage space.
Positioned at the corner of Princess and Pollock Streets, the property is near historic downtown New Bern, with access to shopping, restaurants, and a small-business environment. An optional elevator provides an additional accessibility feature. The storefront configuration supports boutique retail, studio, office, and specialty service applications.
Positioned at the corner of Princess and Pollock Streets, the property is near historic downtown New Bern, with access to shopping, restaurants, and a small-business environment. An optional elevator provides an additional accessibility feature. The storefront configuration supports boutique retail, studio, office, and specialty service applications.
Key Highlights
- 638 SF storefront unit with potential expansion through adjoining garage space
- Located at the corner of Princess and Pollock Streets in Kings Domain
- Built in 2026 with modern finishes and 9‑foot ceilings
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
$12,605
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
8.40%
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%
$252,100
$252.1K
Cap Rate 7%
$180,071
$180.1K
Cap Rate 9%
$140,056
$140.1K
Market Conditions
NOI Build-Up for 638 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
$19.2K $30.12/SF
− Vacancy
−$1.2K −$1.89/SF
EGI
$18.0K $28.23/SF
− OpEx
−$5.4K −$8.47/SF
NOI
$12.6K $19.76/SF
Area
Craven County, NC
Vacancy
6.29%
Lease Rate
$30.12 /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%
$252,100
Cap Rate 7%
$180,071
Cap Rate 9%
$140,056
Alternative Uses
Best Use
Retail
$180.1K
$157.6K – $210.1K
NOI $12,605 @ 7.0% cap · market cap 8.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$210.3K
$184.1K – $245.4K
NOI $14,724 @ 7.0% cap · market cap 9.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
717
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 28562, NC
39,375
Population
18,812
Households
2.1
Avg Household Size
45
Median Age
33%
College-Educated
93%
High-School Grad
151.7 sq mi
ZIP Area
260
Density / Sq Mi
$74,620
Median Household Income
$40,215
Median Earnings
$1,131
Median Rent
$246,400
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 - Modern finishes, display windows, and an accessible half bath support retail, studio, office, or specialty service uses.
Where is this storefront property located?
The property is located at 1002 Pollock St Unit A New Bern, NC.
What is the asking price?
The asking price for this property is $150,000.
What are key features of this property?
This property features: 638 SF storefront unit with potential expansion through adjoining garage space; Located at the corner of Princess and Pollock Streets in Kings Domain; Built in 2026 with modern finishes and 9‑foot ceilings
