Ground-Floor Storefront Commercial
For Sale
$150,000
1004 Pollock Street Unit A, New Bern, NC 28562
Modern finishes, display windows, and an accessible half bath support retail, office, studio, and specialty service uses.
Property Size642 SF
Price / SF$233.64
Days on Market393
Property Features for 1004 Pollock Street Unit A
General Information
Standard status
Active
Size
642 SF
Property subtype
General Commercial
Additional Details
Floor
Ground
Taxes and HOA fees
Annual Taxes
$1,615
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
Central Air, Electric
3
OMMERCIAL - MUL
Corner Lot.
Irregular
Storage Area. Corner.
Building Details
Year Built
2026
Listing Agency:
Brick + Willow LLC
(252) 671-0841
Listed By:
Brad Pino · License #265728
(252) 671-0841
Source:
Xome
Added: Aug 3, 2025
Changed: Aug 30
Last Checked: Aug 30 at 2:09AM
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 ground-floor commercial unit is part of the Kings Domain mixed-use development and features modern finishes, a glass entry door, large display windows, and 9-foot ceilings. The space includes central air, electric service, business-grade Wi-Fi, and a handicap-accessible half bath. Flexible parking is available, while smart building capabilities and an optional elevator add convenience within the development.
The property occupies a corner at Princess and Pollock Streets, near historic downtown New Bern. Surrounding context includes shopping, restaurants, and an established small-business environment. The storefront configuration can accommodate a boutique retail concept, studio, office, or specialty service provider, subject to applicable requirements.
The property occupies a corner at Princess and Pollock Streets, near historic downtown New Bern. Surrounding context includes shopping, restaurants, and an established small-business environment. The storefront configuration can accommodate a boutique retail concept, studio, office, or specialty service provider, subject to applicable requirements.
Key Highlights
- Ground‑floor commercial unit in the Kings Domain mixed‑use development
- Large display windows, glass entry door, and 9‑foot ceilings
- Central air, electric service, and business‑grade Wi‑Fi
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
Office B
$166.0K
$145.2K – $193.6K
NOI $11,618 @ 7.0% cap · market cap 7.75%
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
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 Office 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, and specialty service uses.
Where is this storefront property located?
The property is located at 1004 Pollock Street 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: Ground‑floor commercial unit in the Kings Domain mixed‑use development; Large display windows, glass entry door, and 9‑foot ceilings; Central air, electric service, and business‑grade Wi‑Fi
