Goldsboro Historic Flex
For Sale
$750,000
300 Park Ave, Goldsboro, NC 27530
Over 17,500 SF of total building area for sale.
Property Size1,176 SF
Price / SF$637.76
Days on Market141
Property Features for 300 Park Ave
General Information
Standard status
Active
Size
1,176 SF
Building Details
Year Built
1940
Listing Agency:
The Thomas Parker Realty Group
Listed By:
Thomas Parker · License #327829
(919) 631-7400
Source:
Bradberrygarnerrealestate
Added: Apr 22
Changed: Sep 8
Last Checked: Sep 8 at 7:34AM
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 The Thomas Parker Realty Group
Investment Insights
Based on property information with market context.
This property offers over 17,500 square feet of total building area, including 11,761 square feet of office space and 10,339 square feet of processing/warehouse space. An additional 6,161 square feet is available in the former gymnasium/warehouse. The property is located minutes from I-95 and I-40. The climate-controlled office space includes a waiting area, restroom, three private offices, and an open office area connecting to additional climate-controlled open work areas and storage areas. There is a large, open warehouse space that is not climate controlled, along with a walk-up floored unfinished attic. The original gymnasium, built in the early 1900s, provides additional storage space that is also not climate controlled. Building 1, which houses the office and warehouse storage, was built in 1950, with additions in the 1980s. The gymnasium/warehouse was built in 1940. Both buildings exhibit early 20th-century in-town office architecture typical of historic Goldsboro neighborhoods. The roof is a pitched asphalt-shingle system, and the windows are standard commercial-grade replacements. Interior areas feature professional office finishes, including partitioned offices, conditioned space, and standard electrical and plumbing systems connected to municipal utilities. There is a crawl space under the gym floor. The all-brick buildings offer low exterior maintenance. The property has road frontage on Park Avenue and N Daisy St, with a 27-foot wide stretch along the southern wall of the gymnasium leading to Daisy St. This property is ready to be used by the next successful business.
Key Highlights
- Over 17,500 SF of total building area, including office and warehouse space.
- Prime location minutes from I‑95 and I‑40.
- Climate‑controlled office space with waiting area, restrooms, private offices, and open work areas.
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
$53,589
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
7.15%
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%
$1,071,780
$1.1M
Cap Rate 7%
$765,557
$765.6K
Cap Rate 9%
$595,433
$595.4K
Market Conditions
NOI Build-Up for 1,176 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
$90.6K $77.04/SF
− Vacancy
−$8.2K −$6.93/SF
EGI
$82.4K $70.11/SF
− OpEx
−$28.9K −$24.54/SF
NOI
$53.6K $45.57/SF
Area
Wayne County, NC
Vacancy
9.00%
Lease Rate
$77.04 /SF/Yr
Expense Ratio
35.00%
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%
$1,071,780
Cap Rate 7%
$765,557
Cap Rate 9%
$595,433
Alternative Uses
Best Use
Flex RnD
$765.6K
$669.9K – $893.2K
NOI $53,589 @ 7.0% cap · market cap 7.15%
Second Best
Office B
$218.8K
$191.5K – $255.3K
NOI $15,317 @ 7.0% cap · market cap 2.04%
Theoretical Best
Specialty Retail
$945.5K
$827.3K – $1.10M
NOI $66,183 @ 7.0% cap · market cap 8.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,058
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 27530, NC
37,470
Population
17,796
Households
2.1
Avg Household Size
41
Median Age
22%
College-Educated
89%
High-School Grad
106.5 sq mi
ZIP Area
352
Density / Sq Mi
$55,507
Median Household Income
$37,696
Median Earnings
$827
Median Rent
$176,500
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Over 17,500 SF of total building area for sale.
Where is this flex space located?
The property is located at 300 Park Ave Goldsboro, NC.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Over 17,500 SF of total building area, including office and warehouse space.; Prime location minutes from I‑95 and I‑40.; Climate‑controlled office space with waiting area, restrooms, private offices, and open work areas.
