Ground-Floor Storefront
For Sale
Under Contract
$150,000
1004 Pollock Street, New Bern, NC 28562
Commercial Sale, New Bern, NC
Property Size642 SF
Lot Size0.50 Acres
Price / SF$233.64
Days on Market329
Property Features for 1004 Pollock Street
General Information
Property type
Commercial Sale
Property subtype
Other
Property condition
Under Construction
Zoning
OMMERCIAL - MUL
Subdivision
Not In Subdivision
Lot features
Corner Lot
Directions
merge onto US-17/US-70 E Take the exit toward Trent Woods/Pembroke Rd Turn left onto NC-55 W Turn right onto Queen St Slight right onto Pollock St Destination will be on the left
Standard status
Active Under Contract
APN
8-008 -196
Size
642 SF
Lot size
0.50 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
POLLOCK ST
Tax Annual Amount
1615
Legal Description
POLLOCK ST
Utilities
Utilities
Water Available
Heating system
Electric (Heating), Forced Air
Cooling system
Central Air
Amenities
handicap-accessible half bath
business-grade Wi-Fi
smart building capabilities
optional elevator
Building Details
Year built
2026
Building materials
Wood Frame
Roof type
Metal
Listing Agency:
Brick + Willow LLC
(252) 227-0042
Listed By:
Brad Pino · License #265728
(252) 671-0841
Added: Sep 26, 2025
Changed: Aug 19
Last Checked: Aug 20 at 8:06PM
MLS# 100533054
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 642-square-foot ground-floor commercial unit is under construction with a projected 2026 completion. The space features contemporary finishes, a glass entry door, expansive display windows, and 9-foot ceilings. A handicap-accessible half bath, business-grade Wi-Fi, central air, forced-air electric heating, and water availability add practical functionality for a range of commercial operations. The storefront is suited to boutique retail, studio, office, and specialty service uses.
The property is located at the corner of Princess and Pollock Streets in New Bern, near historic downtown shopping, restaurants, and small businesses. Flexible parking is available within the development, which also includes smart-building capabilities and an optional elevator. The building has a wood-frame structure and metal roof.
The property is located at the corner of Princess and Pollock Streets in New Bern, near historic downtown shopping, restaurants, and small businesses. Flexible parking is available within the development, which also includes smart-building capabilities and an optional elevator. The building has a wood-frame structure and metal roof.
Key Highlights
- 642 square feet of ground‑floor commercial space
- 9‑foot ceilings with modern finishes and large display windows
- Under construction with a projected 2026 completion
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
$12,685
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
8.46%
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%
$253,700
$253.7K
Cap Rate 7%
$181,214
$181.2K
Cap Rate 9%
$140,944
$140.9K
Market Conditions
NOI Build-Up for 642 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
$19.3K $30.12/SF
− Vacancy
−$1.2K −$1.89/SF
EGI
$18.1K $28.23/SF
− OpEx
−$5.4K −$8.47/SF
NOI
$12.7K $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%
$253,700
Cap Rate 7%
$181,214
Cap Rate 9%
$140,944
Alternative Uses
Best Use
Retail
$181.2K
$158.6K – $211.4K
NOI $12,685 @ 7.0% cap · market cap 8.46%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$211.7K
$185.2K – $247.0K
NOI $14,817 @ 7.0% cap · market cap 9.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
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, office, studio, or specialty service uses.
Where is this storefront property located?
The property is located at 1004 Pollock Street 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: 642 square feet of ground‑floor commercial space; 9‑foot ceilings with modern finishes and large display windows; Under construction with a projected 2026 completion
