Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    505 Red Banks Rd Greenville, NC 27858

    Loading data...
    Loading data...
    Loading data...
    For Lease
    $20 SF/Yr ($2,026 /Mo)

    3,050 SF retail space in a busy commercial corridor.

    Property size:
    1,216 SF
    Lot size:
    0.19 Acres

    Property Features for 505 Red Banks Rd

    General Information

    Size
    1,216 SF
    Lot size
    0.19 Acres

    We can help!

    Listing Contact
    Byron Aynes
    Source: Moodyscre

    Listing Agent: Byron Aynes

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Retail Space in Lynndale Shoppes

    Located at 505 Red Banks Rd, this property offers 3,050 SF of retail space within Lynndale Shoppes, a neighborhood center. The property is positioned along one of Greenville’s busiest commercial corridors and zoned CG. The area features a high concentration of national and regional tenants, alongside boutique retailers. The property offers excellent visibility and access. Its location near East Carolina University and the city’s major medical district and hospital system makes it suitable for capturing both residential and institutional traffic.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    LOFT Women'S Clothing Store Grant Barker- Atlantic ... Mortgage Lender Pink a Lilly Pulitzer ... Women'S Clothing Store The Shave on Fifth at Coffman’s Barber Shop Coffman's Men's Wear Men'S Clothing Store

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Greenville
    County
    Pitt
    State
    North Carolina
    Longitude
    -77.372504
    Latitude
    35.581926

    Nearby Similar for Lease

    • $2,900 /Mo
      1,945 SF

      Move-in Ready Office Space Available

      Well-maintained office complex with flexible options in Greenville, NC.
      404 St Andrews Dr, Greenville, NC 27834
      View Details
    • $2,900 /Mo
      1,775 SF

      Move-in Ready Office Space Available

      All-inclusive office complex with flexible leasing options in Greenville.
      404 St Andrews Dr, Greenville, NC 27834
      View Details
    • $2,850 /Mo
      1,510 SF

      Move-in Ready Office Space Available

      Office space for lease in Greenville, NC with all-inclusive amenities.
      404 St Andrews Dr, Greenville, NC 27834
      View Details
    • $2,850 /Mo
      1,575 SF

      Move-in Ready Office Space Available

      Well-maintained office space with all-inclusive amenities in a prime location.
      404 St Andrews Dr, Greenville, NC 27834
      View Details
    • $2,900 /Mo
      1,525 SF

      Move-in Ready Greenville Office Space

      Well-maintained office space with all-inclusive amenities in a central location.
      404 St Andrews Dr, Greenville, NC 27834
      View Details
    • $2,800 /Mo
      1,730 SF

      Move-in Ready Greenville Office Space

      Customizable office space with all-inclusive amenities in a central location.
      404 St Andrews Dr, Greenville, NC 27834
      View Details
    • $850 /Mo
      520 SF

      Move-in Ready Office Space Available

      Well-maintained office space with all-inclusive amenities in Greenville, NC.
      404 St Andrews Dr, Greenville, NC 27834
      View Details
    • $850 /Mo
      685 SF

      Move-in Ready Office Space Available

      Well-maintained office space with all-inclusive amenities in Greenville, NC.
      404 St Andrews Dr, Greenville, NC 27834
      View Details
    • $600 /Mo
      210 SF

      Greenville Office Suites For Rent

      Single office suites with shared amenities available for rent.
      1330 E Arlington Blvd, Greenville, NC 27858
      View Details
    • $8 SF/Yr
      6,250 SF

      Industrial Property with Showroom

      Highly visible industrial property with showroom, office, and drive-in doors.
      1924 N Memorial Dr, Greenville, NC 27834
      View Details
    • $10 SF/Yr
      10,800 SF

      New Flex Industrial Project

      Developing flex industrial park with versatile spaces for rent.
      1105 Greenville Blvd SW, Greenville, NC 27858
      View Details
    • Contact for pricing

      Adaptable Office/Retail Space Available

      Move-in ready 1,200 SF office or retail space for rent.
      Greenville, NC 27834
      View Details

    FAQs

    What type of property is this?
    Strip mall - 3,050 SF retail space in a busy commercial corridor.
    Where is this strip mall located?
    The property is located at 505 Red Banks Rd Greenville, NC.
    What is the lease rate?
    The lease rate is $20 SF/Yr.
    What are key features of this property?
    This property features: - High-traffic location on one of Greenville's busiest commercial corridors.; - Located within Lynndale Shoppes, a well-established neighborhood center.; - Zoned CG, offering flexibility for various commercial uses.
    (252) 355-7006
    Request Owner's contact information
    505 Red Banks Rd Greenville, NC 27858
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    505 Red Banks Rd
    Greenville, NC 27858
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    505 Red Banks Rd Greenville, NC 27858
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Byron Aynes
    Real Estate License ID: NC 278747
    (252) 355-7006
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.