Automotive Service Garage
For Sale
$1,300,000
1300 Goldsboro, Wilson, NC 27893
Service garage property with two offices on two combined lots, zoned NMX, with frontage on Goldsboro St.
Property Size10,720 SF
Lot Size0.97 Acres
Price / SF$121.27
Days on Market866
Property Features for 1300 Goldsboro
General Information
Standard status
Active
Size
10,720 SF
Lot size
0.97 Acres
Property subtype
Commercial
Zoning
NMX
Additional Details
Road Access
Yes
Amenities
Electric Heating
Heating Heating
Building Details
Year Built
1983
Listing Agency:
GREEN VALLEY REALTY
Listed By:
DENISE ALLAN · License #282384
(252) 292-0615
Source:
Corcoran
Added: Apr 24, 2024
Changed: Aug 27
Last Checked: Sep 5 at 9:51AM
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 GREEN VALLEY REALTY
Investment Insights
Based on property information with market context.
This for-sale commercial property includes two lots totaling 0.97 acres and features a 10,720 sq ft service garage. The building offers two separate offices and is zoned NMX.
The site is described as an off-corner property with ample parking, excellent ingress and egress, and access from both sides. It fronts Goldsboro St and backs Belmont, providing frontage on one street and rear access along the other.
With its garage service layout and dedicated office spaces, the property is configured to support automotive and related operational use within the NMX zoning classification.
The site is described as an off-corner property with ample parking, excellent ingress and egress, and access from both sides. It fronts Goldsboro St and backs Belmont, providing frontage on one street and rear access along the other.
With its garage service layout and dedicated office spaces, the property is configured to support automotive and related operational use within the NMX zoning classification.
Key Highlights
- Commercial property in Wilson, NC built in 1983, listed at $1,300,000.
- Two combined lots totaling 0.97 acres (1300 A and B).
- Includes a 10,720 SF service garage.
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
$111,232
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
8.56%
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%
$2,224,640
$2.2M
Cap Rate 7%
$1,589,029
$1.6M
Cap Rate 9%
$1,235,911
$1.2M
Market Conditions
NOI Build-Up for 10,720 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
$173.7K $16.20/SF
− Vacancy
−$14.8K −$1.38/SF
EGI
$158.9K $14.82/SF
− OpEx
−$47.7K −$4.45/SF
NOI
$111.2K $10.38/SF
Area
Wilson County, NC
Vacancy
8.50%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
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%
$2,224,640
Cap Rate 7%
$1,589,029
Cap Rate 9%
$1,235,911
Alternative Uses
Best Use
Retail
$1.59M
$1.39M – $1.85M
NOI $111,232 @ 7.0% cap · market cap 8.56%
Second Best
Industrial
$844.7K
$739.1K – $985.4K
NOI $59,126 @ 7.0% cap · market cap 4.55%
Theoretical Best
Office A
$2.57M
$2.25M – $3.00M
NOI $180,106 @ 7.0% cap · market cap 13.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
490
Businesses Nearby
17k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 54%
Dining 46%
BP
Shops & Services
8,849 visits/mo
0.3 miles
Pizza Inn
Dining
7,973 visits/mo
0.4 miles
Ace Cash Express
Shops & Services
341 visits/mo
0.4 miles
Fisher Auto Parts
Shops & Services
330 visits/mo
0.4 miles
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 Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Auto shop - Service garage property with two offices on two combined lots, zoned NMX, with frontage on Goldsboro St.
Where is this auto shop located?
The property is located at 1300 Goldsboro Wilson, NC.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Commercial property in Wilson, NC built in 1983, listed at $1,300,000.; Two combined lots totaling 0.97 acres (1300 A and B).; Includes a 10,720 SF service garage.
