Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    114 Justin Dr New Bern, NC 28560

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $3,450 /Mo ($10 SF/Yr)

    4,000 SF flex space with office and yard.

    Property size:
    4,000 SF
    Lot size:
    0.48 Acres

    Property Features for 114 Justin Dr

    General Information

    Standard status
    Active
    Size
    4,000 SF
    Lot size
    0.48 Acres

    Building Details

    Year built
    2006

    We can help!

    Listing Contact
    Ross Beebe
    Ross Beebe
    Source: Exitrealty

    Listing Agency: Inner Banks Properties Listing Agent: Ross Beebe

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

    Learn more

    Overview

    Industrial Building with Office Space

    This 4,000 square foot metal structure building includes approximately 800 square feet of office space. The office area features several offices, a reception area, a half bath, and a full bathroom. The warehouse portion of the building is equipped with four 12-foot overhead doors. The property includes a yard area of approximately 16,000 square feet. The interior of the warehouse has a maximum ceiling height of 18 feet. This property is suitable for flex space, industrial, warehouse, and general commercial real estate use.
    Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

    Restaurant Real Estate Agency Dental Office Spa & Massage Center Building Supply Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    New Bern
    County
    Craven
    State
    North Carolina
    Longitude
    -77.0277485
    Latitude
    35.0696464

    Nearby Similar for Lease

    • New
      $1,600 /Mo
      1,200 SF

      New Bern Commercial Space Available

      Commercial space for lease in New Bern, available June 2026.
      3332 Wellons Blvd, New Bern, NC 28562
      View Details
    • $1,075 /Mo
      751 SF

      New Bern Commercial Space Available

      Commercial space in James City with versatile layout.
      102 Market St, New Bern, NC 28560
      View Details
    • $3,500 /Mo
      2,190 SF

      Updated Commercial Space, New Bern

      Updated commercial space in high-traffic area between New Bern, Cherry Point.
      1702 Us Highway 70, New Bern, NC 28560
      View Details
    • $1,250 /Mo
      1,240 SF

      Downtown New Bern Commercial Space

      Prime commercial space in historic downtown New Bern.
      309 Middle St, New Bern, NC 28560
      View Details
    • $700 /Mo
      640 SF

      New Bern Commercial Flex Space

      Commercial flex space available for rent in New Bern, NC.
      1263 Colony Dr, New Bern, NC 28562
      View Details
    • $10 SF/Yr
      23,100 SF

      New Bern Flex Space Available

      Office, warehouse, medical, and flex space for lease.
      3200 Wellons Blvd, New Bern, NC 28562
      View Details
    • $475 /Mo
      1,643 SF

      Remodeled Office Space Available

      Remodeled office building with individual offices and shared common areas.
      3330 Neuse Blvd, New Bern, NC 28560
      View Details
    • $675 /Mo
      600 SF

      Downtown New Bern Commercial Space

      Commercial space in historic downtown New Bern, 600 square feet.
      821 Queen St, New Bern, NC 28560
      View Details
    • $2,300 /Mo
      1,634 SF

      Commercial Office Space Available

      Two-story commercial office space in excellent condition, ready for occupancy.
      220 S Front St, New Bern, NC 28560
      View Details
    • $1,400 /Mo
      Pending

      New Bern Commercial Space Available

      Spacious commercial space with modern amenities, available January 1st.
      1702 Us 70 Hwy E, New Bern, NC 28560
      View Details
    • $500 /Mo
      180,774 SF

      Spacious Storage Units Available

      1,000 sqft storage units for lease in New Bern.
      306 S Jimmies Creek Dr, New Bern, NC 28562
      View Details
    • $2,960 /Mo
      2,000 SF

      Downtown New Bern Executive Office

      Executive office space in historic downtown New Bern.
      242 Craven St, New Bern, NC 28560
      View Details

    FAQs

    What type of property is this?
    Flex space - 4,000 SF flex space with office and yard.
    Where is this flex space located?
    The property is located at 114 Justin Dr New Bern, NC.
    What is the lease rate?
    The lease rate is $10 SF/Yr.
    What are key features of this property?
    This property features: - 4,000 sq ft metal structure building suitable for various uses.; - Features **four 12' overhead doors** providing easy access.; - Approximately 800 sq ft of office space with multiple offices, reception area, half bath, and full bathroom.
    (252) 226-9818
    Request Owner's contact information
    114 Justin Dr New Bern, NC 28560
    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.
    114 Justin Dr
    New Bern, NC 28560
    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
    114 Justin Dr New Bern, NC 28560
    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
    Ross Beebe
    Ross Beebe
    (252) 226-9818 (252) 637-2010
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!