Fenced Commercial Warehouse
For Sale
$750,000
1120 Lt Hardee Rd, Greenville, NC 27858
Enclosed fencing surrounds a multi-structure commercial site with General Commercial zoning.
Property Size2,872 SF
Lot Size2.50 Acres
Price / SF$261.14
Days on Market129
Property Features for 1120 Lt Hardee Rd
General Information
Standard status
Active
Size
2,872 SF
Lot size
2.50 Acres
Zoning
General Commercial
Site & Location
Road Access
Yes
Fenced Yard
Yes
Additional Details
Land Use
commercial
Amenities
additional structures
fully enclosed fence
Building Details
Year Built
1977
Buildings
4
Construction
metal
Listing Agency:
Keller Williams Realty Points East
(252) 670-6326
Listed By:
Suzanne Hazelton · License #308806
Source:
Barefootbrokers
Added: Apr 24
Changed: Aug 29
Last Checked: Aug 25 at 4:03AM
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 Keller Williams Realty Points East
Investment Insights
Based on property information with market context.
This warehouse-class property occupies 2.5 acres and includes a metal building along with three additional structures. A fully enclosed fence surrounds the site, providing a defined footprint for the existing improvements. The property was built in 1977 and carries General Commercial zoning.
Located at 1120 LT Hardee Road in Greenville, the site is positioned just off 10th Street on LT Hardee Road. The property is within Pitt County and offers a multi-structure configuration for commercial operations, storage, or other uses consistent with its zoning.
Located at 1120 LT Hardee Road in Greenville, the site is positioned just off 10th Street on LT Hardee Road. The property is within Pitt County and offers a multi-structure configuration for commercial operations, storage, or other uses consistent with its zoning.
Key Highlights
- 2.5‑acre commercial property in Greenville, NC
- General Commercial zoning
- Metal building plus three additional structures
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
$24,428
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
3.26%
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%
$488,560
$488.6K
Cap Rate 7%
$348,971
$349.0K
Cap Rate 9%
$271,422
$271.4K
Market Conditions
NOI Build-Up for 2,872 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
$40.3K $14.04/SF
− Vacancy
−$2.7K −$0.95/SF
EGI
$37.6K $13.09/SF
− OpEx
−$13.2K −$4.58/SF
NOI
$24.4K $8.51/SF
Area
Pitt County, NC
Vacancy
6.80%
Lease Rate
$14.04 /SF/Yr
Expense Ratio
35.00%
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%
$488,560
Cap Rate 7%
$348,971
Cap Rate 9%
$271,422
Alternative Uses
Best Use
Flex RnD
$349.0K
$305.4K – $407.1K
NOI $24,428 @ 7.0% cap · market cap 3.26%
Second Best
Warehouse
$308.1K
$269.6K – $359.5K
NOI $21,569 @ 7.0% cap · market cap 2.88%
Theoretical Best
Office A
$625.2K
$547.1K – $729.4K
NOI $43,764 @ 7.0% cap · market cap 5.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
162
Businesses Nearby
Balanced
Demand for This Use
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 Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Improve Propertie Management — 106 Salem Cir, Greenville, NC 27858
- Storage Unlimited of Greenville NC — 4905 NC-33, Greenville, NC 27858
- AAA Security Self Storage — 4939 NC-33 #33, Greenville, NC 27858
Frequently Asked Questions
What type of property is this?
Warehouse - Enclosed fencing surrounds a multi-structure commercial site with General Commercial zoning.
Where is this warehouse located?
The property is located at 1120 Lt Hardee Rd Greenville, NC.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 2.5‑acre commercial property in Greenville, NC; General Commercial zoning; Metal building plus three additional structures
