110 W 5th St, Greenville, NC 27858

Building Details

Year Built 1927 More

Buildings 1 More

Stories 3 More

Listing Agency: Lee & Associates | Raleigh Show Phone

Listed By: Kyle Gross Show Phone

Source: Moodyscre

Added: Sep 18 Changed: Oct 26 Last Checked: Nov 8 at 8:35AM

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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 Lee & Associates | Raleigh

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Investment Insights

Based on property information with market context.

The 23,242-square-foot building is a three-story mixed-use property constructed in 1927. Its architectural character includes an original polychrome terra cotta facade and a bas-relief sculpture positioned near the top of the structure. The property was built as a Montgomery Ward retail store, adding a documented commercial history to the asset.

Located at 110 W 5th St in Uptown Greenville, the building is adjacent to East Carolina University. The combination of historic detailing, vertical scale, and an established urban setting distinguishes the property within the local commercial landscape.

Key Highlights

• 23,242‑square‑foot mixed‑use property
• Three‑story building constructed in 1927
• Original polychrome terra cotta facade

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$144,500

Cap Rate

4.82%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,890,000 $2.9M

Cap Rate 7%

$2,064,286 $2.1M

Cap Rate 9%

$1,605,556 $1.6M

Is this asking price fair?

Market Conditions

NOI Build-Up for 23,242 SF

Gross rent

$278.9K $12.00/SF

− Vacancy

−$16.2K −$0.70/SF

EGI

$262.7K $11.30/SF

− OpEx

−$118.2K −$5.09/SF

NOI

$144.5K $6.22/SF

Area

Pitt County, NC

Vacancy

5.80%

Lease Rate

$12.00 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,890,000

Cap Rate 7%

$2,064,286

Cap Rate 9%

$1,605,556

Alternative Uses

Best Use

Mixed Use

$4.03M

$3.53M – $4.71M (±1% cap)

NOI $282,390 @ 7.0% cap · market cap 9.42%

Second Best

Apartment 5plus

$2.06M

$1.81M – $2.41M (±1% cap)

NOI $144,500 @ 7.0% cap · market cap 4.82%

Theoretical Best

Office A

$5.06M

$4.43M – $5.90M (±1% cap)

NOI $354,163 @ 7.0% cap · market cap 11.81%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Nash Studios Recording Studio The State Theatre Hotel & Motel White Theater Tour Operator

Suggested Use

Top Pick Dental Office Pharmacy Storage Facility Skin Care Clinic Bakery Accounting Firm

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

1,359

Businesses Nearby

Explore this area Business Placement

Demographics for 27858, NC

52,857

Population

26,281

Households

2

Avg Household Size

31

Median Age

46%

College-Educated

94%

High-School Grad

61.4 sq mi

ZIP Area

861

Density / Sq Mi

$60,915

Median Household Income

$34,598

Median Earnings

$1,042

Median Rent

$233,200

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Historic architectural detailing includes a polychrome terra cotta facade and a bas-relief sculpture.

Where is this mixed-use property located?

The property is located at 110 W 5th St Greenville, NC.

What is the asking price?

The asking price for this property is $2,999,000.

What are key features of this property?

This property features: 23,242‑square‑foot mixed‑use property; Three‑story building constructed in 1927; Original polychrome terra cotta facade