Vacant Triplex
For Sale
$449,000
1301 Dickinson Ave, Greenville, NC 27834
The vacant property may remain a residential rental or be evaluated for commercial development under CDF zoning.
Property Size2,743 SF
Price / SF$163.69
Days on Market177
Property Features for 1301 Dickinson Ave
General Information
Standard status
Active
Size
2,743 SF
Property subtype
Residential Income
Zoning
CDF
Additional Details
Road Access
Yes
Land Use
residential
Taxes and HOA fees
Annual Taxes
$1,334
Listing Agency:
eXp Realty
(252) 367-1186
Listed By:
The Nilsen Team · License #no data
(252) 367-1186
Source:
Exprealty
Added: Mar 8
Changed: Aug 31
Last Checked: Aug 31 at 7:08PM
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 eXp Realty
Investment Insights
Based on property information with market context.
This 2,743-square-foot triplex is currently vacant and offers an existing residential income-property configuration. The property is zoned CDF, allowing consideration of commercial development or continued use as a residential rental asset.
Located at 1301 Dickinson Ave in Greenville, NC, the property occupies the corner of 14th Street and Dickinson Ave. The seller has not occupied the property.
Located at 1301 Dickinson Ave in Greenville, NC, the property occupies the corner of 14th Street and Dickinson Ave. The seller has not occupied the property.
Key Highlights
- 2,743‑square‑foot triplex
- Currently vacant
- Zoned CDF
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
$18,312
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
4.08%
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%
$366,240
$366.2K
Cap Rate 7%
$261,600
$261.6K
Cap Rate 9%
$203,467
$203.5K
Market Conditions
NOI Build-Up for 2,743 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
$28.0K $10.20/SF
− Vacancy
−$1.8K −$0.66/SF
EGI
$26.2K $9.54/SF
− OpEx
−$7.8K −$2.86/SF
NOI
$18.3K $6.68/SF
Area
Pitt County, NC
Vacancy
6.50%
Lease Rate
$10.20 /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%
$366,240
Cap Rate 7%
$261,600
Cap Rate 9%
$203,467
Alternative Uses
Best Use
Multifamily LT 5
$261.6K
$228.9K – $305.2K
NOI $18,312 @ 7.0% cap · market cap 4.08%
Second Best
Apartment 5plus
$243.6K
$213.2K – $284.2K
NOI $17,054 @ 7.0% cap · market cap 3.80%
Theoretical Best
Office A
$597.1K
$522.5K – $696.6K
NOI $41,798 @ 7.0% cap · market cap 9.31%
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
1,254
Businesses Nearby
Explore this area
Business Placement
Demographics for 27834, NC
55,051
Population
27,368
Households
2
Avg Household Size
34
Median Age
28%
College-Educated
88%
High-School Grad
174.3 sq mi
ZIP Area
316
Density / Sq Mi
$48,081
Median Household Income
$36,755
Median Earnings
$941
Median Rent
$161,700
Median Home Value
Market
Vacancy Rate% for Multifamily 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?
Triplex - The vacant property may remain a residential rental or be evaluated for commercial development under CDF zoning.
Where is this triplex located?
The property is located at 1301 Dickinson Ave Greenville, NC.
What is the asking price?
The asking price for this property is $449,000.
What are key features of this property?
This property features: 2,743‑square‑foot triplex; Currently vacant; Zoned CDF
