Versatile Land with Development Potential

2109 Griffin Street, Lumberton, NC 28358

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For Sale

$475,000

Five-acre property rezoned B2, suitable for diverse development projects.

Type:Commercial/Industrial

Property size:

2,109 SF

Lot size:

5.00 Acres

Price / SF:

$225/SF

HighLights

Re‑zoned as B2, allowing for diverse development opportunities
5‑acre property suitable for projects requiring ample space and parking
Strategically located less than one mile from Lumberton High School
Preliminary survey for duplex construction already on file
Brick residential home included on the property
Located in a growing area, presenting a valuable investment opportunity

We can help!

Listing Contact

Gerry S Cox

For Sale

$475,000

Five-acre property rezoned B2, suitable for diverse development projects.

Type:Commercial/Industrial

Property size:

2,109 SF

Lot size:

5.00 Acres

Price / SF:

$225/SF

Added:: Feb 5, 2025
Days on Market:: 495
Last Refresh:: May 19 at 10:33 pm

Property Features for 2109 Griffin Street

General Information

Standard status: Active
Size: 2,109 SF
Lot size: 5.00 Acres
Property subtype: Commercial/Industrial

Building Details

Year Built: 1951

We can help!

Listing Contact

Gerry S Cox

Listing agent Gerry S Cox License #38157

Listing office Cox Realty & Appraisal, Inc

Listing date Feb 5, 2025

Source Exitrealty

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 Cox Realty & Appraisal, Inc

HighLights

Re‑zoned as B2, allowing for diverse development opportunities
5‑acre property suitable for projects requiring ample space and parking
Strategically located less than one mile from Lumberton High School
Preliminary survey for duplex construction already on file
Brick residential home included on the property
Located in a growing area, presenting a valuable investment opportunity

Overview

This 5-acre property includes a brick residential home and has been rezoned as B2, allowing for various development opportunities. The property is suitable for multi-family housing, duplexes, apartments, medical facilities, or commercial enterprises, including businesses that require ample parking. It is located less than one mile from Lumberton High School. A preliminary survey for potential duplex construction is on file. The property has a size of 2109 square feet.

Local Financial Insights For Office B

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$53.1k	$25.20
− Vacancy	−$12.0k	−$5.70
EGI	$41.1k	$19.50
− OpEx	−$10.3k	−$4.88
NOI	$30.9k	$14.63

2,109 SF · lease $25.20/SF/yr · vacancy 22.60% · expense 25.00%

Alternative Uses

Best Use

Office B

$440.7K

$385.7K – $514.2K (±1% cap)

NOI $30,852 @ 7.0% cap · market cap 6.50%

Second Best

Healthcare Medical

$279.8K

$244.9K – $326.5K (±1% cap)

NOI $19,588 @ 7.0% cap · market cap 4.12%

Theoretical Best

Office A

$581.4K

$508.7K – $678.3K (±1% cap)

NOI $40,695 @ 7.0% cap · market cap 8.57%

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

Property Profile Location Intelligence

Current Use by Public Records

Commercial land

Suggested Use

Location Insight

Map
Local Demand

City: Lumberton
County: Robeson
State: North Carolina
Longitude: -78.9968
Latitude: 34.6403

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For sale
Commercial land
NC
Lumberton
28358
2109 Griffin Street

What type of property is this?

Commercial land - Five-acre property rezoned B2, suitable for diverse development projects.

Where is this commercial land located?

The property is located at 2109 Griffin Street Lumberton, NC.

What is the asking price?

The asking price for this property is $475,000.

What are key features of this property?

This property features: Re‑zoned as B2, allowing for diverse development opportunities; 5‑acre property suitable for projects requiring ample space and parking; Strategically located less than one mile from Lumberton High School