Building Details

Year Built 1972

Listing Agency: Lorimee Property & Real Estate

Listed By: Miranda Goldman Show Phone

Source: Tcrnc

Added: Jul 27 Changed: Oct 25 Last Checked: Oct 7 at 1:22PM

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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

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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.

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 / Yr

$15,491

Cap Rate

7.94%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$309,820 $309.8K

Cap Rate 7%

$221,300 $221.3K

Cap Rate 9%

$172,122 $172.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 856 SF

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 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 (±1% cap)

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 (±1% cap)

NOI $19,755 @ 7.0% cap · market cap 10.13%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Office buildings

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

Market

Vacancy Rate% for Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

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