Industrial Flex Office Warehouse
For Sale
Contact for pricing
829-843 W Star St, Greenville, NC
Industrial, flex, office, and warehouse spaces available for sale.
Property Size11,464 SF
Lot Size2.45 Acres
Price / SF$146.98
Days on Market508
Property Features for 829-843 W Star St
General Information
Standard status
Active
Size
11,464 SF
Lot size
2.45 Acres
Property subtype
INDUSTRIAL
Properties For Sale
at 829-843 W Star St Contact us- Size
- 11,464 SF
- Type
- INDUSTRIAL
- Lease Type
- GROSS
- Availability
- AVAILABLE
Greenville NC Industrial - Flex - Office - Warehouse
Option to Lease 829 West Star for $13,950/month or to Lease 843 West Star for $5,800/month...
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Listing Agency:
Keller Williams Points East
(910) 729-9180
Listed By:
Timothy Ferruzzi · License #89665
(910) 729-9180
Source:
Moodyscre
Added: Mar 20, 2025
Changed: Aug 8
Last Checked: Apr 5 at 8:07PM
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 Points East
Investment Insights
Based on property information with market context.
West Star Commercial Park features industrial, flex, office, and warehouse spaces. The property at 829 West Star offers approximately 4,083 square feet of two-story office space, which includes five bathrooms, a break room, and a conference room. Additionally, there is approximately 7,378 square feet of warehouse space with four drive-in bays. The warehouse includes three shelters; one measures 2,500 square feet, and two measure 1,250 square feet each. All shelters are enclosed on all sides except the front and have concrete slab floors. The property is fully fenced and secured and includes land behind the warehouse. It is zoned CH Heavy Commercial.
Key Highlights
- Large Warehouse Space: 7378 +/- SF with 4 Drive‑in Bays
- Substantial Office Space: 4083 +/- SF 2‑Story Office Space with multiple amenities
- Fully Fenced & Secured Property: Provides enhanced security and peace of mind
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
$123,424
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
7.32%
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%
$2,468,480
$2.5M
Cap Rate 7%
$1,763,200
$1.8M
Cap Rate 9%
$1,371,378
$1.4M
Market Conditions
NOI Build-Up for 11,464 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
$199.5K $17.40/SF
− Vacancy
−$34.9K −$3.05/SF
EGI
$164.6K $14.35/SF
− OpEx
−$41.1K −$3.59/SF
NOI
$123.4K $10.77/SF
Area
Pitt County, NC
Vacancy
17.50%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
25.00%
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%
$2,468,480
Cap Rate 7%
$1,763,200
Cap Rate 9%
$1,371,378
Alternative Uses
Best Use
Office B
$1.76M
$1.54M – $2.06M
NOI $123,424 @ 7.0% cap · market cap 7.32%
Second Best
Flex RnD
$1.39M
$1.22M – $1.63M
NOI $97,506 @ 7.0% cap · market cap 5.79%
Theoretical Best
Office A
$2.50M
$2.18M – $2.91M
NOI $174,689 @ 7.0% cap · market cap 10.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
143
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Weststar Mini Storage — 3353 W Star St, Greenville, NC 27834
Frequently Asked Questions
What type of property is this?
Warehouse - Industrial, flex, office, and warehouse spaces available for sale.
Where is this warehouse located?
The property is located at 829-843 W Star St Greenville, NC.
What is the asking price?
The asking price for this property is $1,685,000.
What are key features of this property?
This property features: Large Warehouse Space: 7378 +/- SF with 4 Drive‑in Bays; Substantial Office Space: 4083 +/- SF 2‑Story Office Space with multiple amenities; Fully Fenced & Secured Property: Provides enhanced security and peace of mind
