Historic Mixed-Use Building with Vacant
For Sale
$1,225,000
127 Barnes Street W, Wilson, NC 27893
COMMERCIAL - Wilson, NC
Property Size4,050 SF
Lot Size0.06 Acres
Price / SF$302.47
Days on Market133
Property Features for 127 Barnes Street W
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
CMX
Subdivision
Wilson
Directions
Take Hines street to Tarboro street turning toward downtown turn left onto Barnes street property on left at corner of Pine and Barnes
Standard status
Active
APN
3722-20-5744.000
Size
4,050 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
P6L7L8 1.00LT
Tax Annual Amount
1329
Legal Description
P6L7L8 1.00LT
Utilities
Heating system
Electric (Heating)
Building Details
Year built
1924
Listing Agency:
Green Valley Realty
(252) 292-0615
Listed By:
Abder Allan · License #282302
(252) 205-2729
Added: Apr 9
Changed: Aug 19
Last Checked: Aug 19 at 9:06PM
MLS# 100566028
Copyright © 2026 Hive MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1924, this restored brick property provides 4,050 square feet across two levels. The lower floor is configured as an open art studio and gallery, while the upper floor contains private residential living quarters. Electric heating serves the building, and CMX zoning supports its mixed-use configuration.
The property includes an adjoining 0.06-acre vacant lot, creating additional land associated with the offering. The site is at 127 Barnes Street W in downtown Wilson, near Vollis Simpson Whirligig Park and Warbirds Stadium, with restaurants, coffee shops, retail, and downtown events within walking distance.
The commercial and residential components can support an owner-user live/work arrangement, gallery use, creative office space, or other concepts consistent with the property’s zoning and configuration.
The property includes an adjoining 0.06-acre vacant lot, creating additional land associated with the offering. The site is at 127 Barnes Street W in downtown Wilson, near Vollis Simpson Whirligig Park and Warbirds Stadium, with restaurants, coffee shops, retail, and downtown events within walking distance.
The commercial and residential components can support an owner-user live/work arrangement, gallery use, creative office space, or other concepts consistent with the property’s zoning and configuration.
Key Highlights
- 4,050‑square‑foot mixed‑use building with commercial and residential components
- 1924 brick structure with restored interior character
- Lower level configured as an open art studio and gallery
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
$51,030
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
4.17%
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%
$1,020,600
$1.0M
Cap Rate 7%
$729,000
$729.0K
Cap Rate 9%
$567,000
$567.0K
Market Conditions
NOI Build-Up for 4,050 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
$85.1K $21.00/SF
− Vacancy
−$17.0K −$4.20/SF
EGI
$68.0K $16.80/SF
− OpEx
−$17.0K −$4.20/SF
NOI
$51.0K $12.60/SF
Area
Wilson County, NC
Vacancy
20.00%
Lease Rate
$21.00 /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%
$1,020,600
Cap Rate 7%
$729,000
Cap Rate 9%
$567,000
Alternative Uses
Best Use
Office B
$729.0K
$637.9K – $850.5K
NOI $51,030 @ 7.0% cap · market cap 4.17%
Second Best
Mixed Use
$572.8K
$501.2K – $668.3K
NOI $40,095 @ 7.0% cap · market cap 3.27%
Theoretical Best
Office A
$972.1K
$850.6K – $1.13M
NOI $68,044 @ 7.0% cap · market cap 5.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
961
Businesses Nearby
Explore this area
Business Placement
Demographics for 27893, NC
37,131
Population
18,383
Households
2
Avg Household Size
41
Median Age
15%
College-Educated
79%
High-School Grad
109.0 sq mi
ZIP Area
341
Density / Sq Mi
$40,180
Median Household Income
$31,197
Median Earnings
$894
Median Rent
$153,000
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-level property combines a commercial studio/gallery with upper-floor residential quarters.
Where is this mixed-use property located?
The property is located at 127 Barnes Street W Wilson, NC.
What is the asking price?
The asking price for this property is $1,225,000.
What are key features of this property?
This property features: 4,050‑square‑foot mixed‑use building with commercial and residential components; 1924 brick structure with restored interior character; Lower level configured as an open art studio and gallery
