Ground-Floor Retail/Office
For Sale
$150,000
1006 Pollock Street, New Bern, NC 28562
Ground-floor commercial unit with glass entry, large display windows, 9-foot ceilings, and a handicap-accessible half bath.
Property Size642 SF
Price / SF$233.64
Days on Market324
Property Features for 1006 Pollock Street
General Information
Standard status
Active
Size
642 SF
Property subtype
General Commercial
Amenities
half bath
business-grade Wi-Fi
smart building capabilities
optional elevator
Central Air, Electric
3
COMMERCIAL - MU
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: Sep 29, 2025
Changed: Aug 12
Last Checked: Aug 18 at 4:15AM
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 in the Kings Domain development offers a storefront-style layout with a glass door and large display windows. The space features 9-foot ceilings and includes a handicap-accessible half bath. The unit is presented with modern finishes and business-grade Wi-Fi.
The property is located at the corner of Princess and Pollock Streets, close to the heart of historic downtown New Bern, with nearby shopping and restaurants.
Kings Domain is a mixed-use community with smart building capabilities and an optional elevator for added accessibility. Flexible parking options are available for the building.
The property is located at the corner of Princess and Pollock Streets, close to the heart of historic downtown New Bern, with nearby shopping and restaurants.
Kings Domain is a mixed-use community with smart building capabilities and an optional elevator for added accessibility. Flexible parking options are available for the building.
Key Highlights
- Ground‑floor commercial unit in the Kings Domain development at the corner of Princess & Pollock Streets
- 9‑foot ceilings with large display windows and a glass door entry
- Handicap‑accessible half bath
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
824
Businesses Nearby
Well-served
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 - Ground-floor commercial unit with glass entry, large display windows, 9-foot ceilings, and a handicap-accessible half bath.
Where is this storefront property located?
The property is located at 1006 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: Ground‑floor commercial unit in the Kings Domain development at the corner of Princess & Pollock Streets; 9‑foot ceilings with large display windows and a glass door entry; Handicap‑accessible half bath
