Auto Shop with Dual Road
For Sale
$400,000
1215 Us 17 Highway N, New Bern, NC 28560
Commercial Sale, New Bern, NC
Property Size1,800 SF
Lot Size2.01 Acres
Price / SF$222.22
Days on Market156
Property Features for 1215 Us 17 Highway N
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Parking features
Paved or Surfaced
Subdivision
Not In Subdivision
Directions
US 17N/US 70 E and keep right to continue on NC 55/US 17 N, follow signs for New Bern/Washington. Keep left to continue on US 17 N following signs to Washington. Make a U-Turn past the railroad tracks. Business on will then be on your right.
Standard status
Active
APN
2-035 -159
Size
1,800 SF
Lot size
2.01 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
IPOCK
Tax Annual Amount
1995
Legal Description
IPOCK
Building Details
Year built
1989
Listing Agency:
Realty ONE Group East
(252) 933-6225
Listed By:
DEBI EDWARDS · License #299779
(252) 671-7011
Added: Mar 18
Changed: Aug 20
Last Checked: Aug 20 at 11:06AM
MLS# 100560910
Copyright © 2026 Hive MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This auto shop includes an operating tire business within an approximately 1,800-square-foot building constructed in 1989. The property encompasses 2.01 acres and provides room for inventory, parking, and customer circulation. Commercial zoning supports the existing automotive service use, while the paved parking area adds practical functionality for daily operations.
The site has road frontage on both US 17 Highway and B St, providing access from two roadways along a major traffic corridor. A UHaul dealer contract could potentially be transferred to a new owner. The property also offers flexibility for continued automotive service or other commercial uses supported by the zoning and site configuration.
The site has road frontage on both US 17 Highway and B St, providing access from two roadways along a major traffic corridor. A UHaul dealer contract could potentially be transferred to a new owner. The property also offers flexibility for continued automotive service or other commercial uses supported by the zoning and site configuration.
Key Highlights
- Operating tire business in an approximately 1,800‑square‑foot building
- 2.01‑acre commercial property with frontage on US 17 Highway and B St
- Commercial zoning supports the existing automotive service operation
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
$35,564
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
8.89%
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%
$711,280
$711.3K
Cap Rate 7%
$508,057
$508.1K
Cap Rate 9%
$395,156
$395.2K
Market Conditions
NOI Build-Up for 1,800 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
$54.2K $30.12/SF
− Vacancy
−$3.4K −$1.89/SF
EGI
$50.8K $28.23/SF
− OpEx
−$15.2K −$8.47/SF
NOI
$35.6K $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%
$711,280
Cap Rate 7%
$508,057
Cap Rate 9%
$395,156
Alternative Uses
Best Use
Retail
$508.1K
$444.6K – $592.7K
NOI $35,564 @ 7.0% cap · market cap 8.89%
Second Best
Industrial
$167.1K
$146.2K – $194.9K
NOI $11,696 @ 7.0% cap · market cap 2.92%
Theoretical Best
Office A
$593.5K
$519.3K – $692.4K
NOI $41,542 @ 7.0% cap · market cap 10.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
77
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 28560, NC
28,005
Population
14,165
Households
2
Avg Household Size
46
Median Age
25%
College-Educated
92%
High-School Grad
122.6 sq mi
ZIP Area
228
Density / Sq Mi
$62,142
Median Household Income
$37,379
Median Earnings
$992
Median Rent
$191,600
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Rivertown Auto Service — 1215 Hwy 17, New Bern, NC 28560
- Robert’s Body Shop — 1209 Hwy 17, New Bern, NC 28519
- Sterling Coatings, Inc. — 810 Hwy 17, Bridgeton, NC 28519
- Ipock's Body Shop, LLC — 907 D Street, Hwy 17, Bridgeton, NC 28519
- Shop boys auto repair — 205 James Arthur Ave, New Bern, NC 28560
Frequently Asked Questions
What type of property is this?
Auto shop - Operating tire-service property with commercial zoning, paved parking, and space for inventory and customer access.
Where is this auto shop located?
The property is located at 1215 Us 17 Highway N New Bern, NC.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Operating tire business in an approximately 1,800‑square‑foot building; 2.01‑acre commercial property with frontage on US 17 Highway and B St; Commercial zoning supports the existing automotive service operation
