Move-In Ready Office
For Sale
$195,000
126 River Rd, Vanceboro, NC 28586
Move-in ready office/commercial property on River Rd near the intersection of Hwy 70 and Hwy 17.
Property Size856 SF
Price / SF$227.80
Days on Market50
Property Features for 126 River Rd
General Information
Standard status
Active
Size
856 SF
Building Details
Year Built
1972
Listing Agency:
Lorimee Property & Real Estate
Listed By:
Miranda Goldman
(919) 971-8053
Source:
Tcrnc
Added: Jul 27
Changed: Sep 8
Last Checked: Sep 13 at 12:57PM
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 Lorimee Property & Real Estate
Investment Insights
Based on property information with market context.
This move-in ready commercial property is well suited for office use or other business ventures. The site offers ample room for expansion, making it practical for growing operations.
Located just outside New Bern, NC, the property is conveniently positioned between Hwy 70 and Hwy 17, providing straightforward access for daily business needs.
The offering includes a commercial building/property size of 856 square feet, with the balance of the site designed to support future growth.
Located just outside New Bern, NC, the property is conveniently positioned between Hwy 70 and Hwy 17, providing straightforward access for daily business needs.
The offering includes a commercial building/property size of 856 square feet, with the balance of the site designed to support future growth.
Key Highlights
- Move‑in ready office/commercial property on River Rd near the intersection of Hwy 70 and Hwy 17
- Conveniently located between Hwy 70 and Hwy 17, just outside New Bern, NC
- Suitable for office or other business ventures with ample room for expansion
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
$15,491
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
7.94%
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%
$309,820
$309.8K
Cap Rate 7%
$221,300
$221.3K
Cap Rate 9%
$172,122
$172.1K
Market Conditions
NOI Build-Up for 856 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
$23.9K $27.96/SF
− Vacancy
−$3.3K −$3.83/SF
EGI
$20.7K $24.13/SF
− OpEx
−$5.2K −$6.03/SF
NOI
$15.5K $18.10/SF
Area
Craven County, NC
Vacancy
13.70%
Lease Rate
$27.96 /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%
$309,820
Cap Rate 7%
$221,300
Cap Rate 9%
$172,122
Alternative Uses
Best Use
Office B
$221.3K
$193.6K – $258.2K
NOI $15,491 @ 7.0% cap · market cap 7.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$282.2K
$246.9K – $329.3K
NOI $19,755 @ 7.0% cap · market cap 10.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
3
Businesses Nearby
Explore this area
Business Placement
Demographics for 28586, NC
7,865
Population
3,717
Households
2.1
Avg Household Size
40
Median Age
8%
College-Educated
84%
High-School Grad
130.3 sq mi
ZIP Area
60
Density / Sq Mi
$46,486
Median Household Income
$31,317
Median Earnings
$828
Median Rent
$100,600
Median Home Value
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office building - Move-in ready office/commercial property on River Rd near the intersection of Hwy 70 and Hwy 17.
Where is this office building located?
The property is located at 126 River Rd Vanceboro, NC.
What is the asking price?
The asking price for this property is $195,000.
What are key features of this property?
This property features: Move‑in ready office/commercial property on River Rd near the intersection of Hwy 70 and Hwy 17; Conveniently located between Hwy 70 and Hwy 17, just outside New Bern, NC; Suitable for office or other business ventures with ample room for expansion
