Individually Plumbed Multi-Suite
For Sale
$269,900
1309 E Ash St, Goldsboro, NC 27530
Six individually plumbed suites currently operated as a beauty salon, with surrounding asphalt parking and rear exterior break area.
Property Size1,404 SF
Price / SF$192.24
Days on Market97
Property Features for 1309 E Ash St
General Information
Standard status
Active
Size
1,404 SF
Property subtype
Commercial
Building Details
Year Built
1943
Listing Agency:
Wilkins & Lancaster Realty, LLC
Listed By:
Riley Wilkins · License #285525
(919) 922-7530
Source:
Searchgreateraugustahomes
Added: Jun 13
Changed: Sep 2
Last Checked: Sep 16 at 9:17PM
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 Wilkins & Lancaster Realty, LLC
Investment Insights
Based on property information with market context.
This well-maintained commercial building is currently configured for a beauty salon with six separate suites. Each suite is individually plumbed, providing flexible interior layout options within the existing suite design. An attached carport at the rear has been converted to an exterior break area, adding practical outdoor space for day-to-day use.
Located on the main drag in Goldsboro, the property offers ample parking around the sides and rear, with asphalt encircling the building. The combination of multiple independently plumbed suites and on-site parking supports a range of commercial uses for a buyer who can work within the current configuration.
The property is offered for sale at 1309 E Ash, Goldsboro, NC 27530.
Located on the main drag in Goldsboro, the property offers ample parking around the sides and rear, with asphalt encircling the building. The combination of multiple independently plumbed suites and on-site parking supports a range of commercial uses for a buyer who can work within the current configuration.
The property is offered for sale at 1309 E Ash, Goldsboro, NC 27530.
Key Highlights
- Built in 1943 commercial building with current beauty salon use
- 6 separate suites, each individually plumbed
- Ample asphalt parking surrounding the sides and rear of the building
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
$18,287
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
6.78%
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%
$365,740
$365.7K
Cap Rate 7%
$261,243
$261.2K
Cap Rate 9%
$203,189
$203.2K
Market Conditions
NOI Build-Up for 1,404 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
$30.3K $21.60/SF
− Vacancy
−$5.9K −$4.23/SF
EGI
$24.4K $17.37/SF
− OpEx
−$6.1K −$4.34/SF
NOI
$18.3K $13.02/SF
Area
Wayne County, NC
Vacancy
19.60%
Lease Rate
$21.60 /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%
$365,740
Cap Rate 7%
$261,243
Cap Rate 9%
$203,189
Alternative Uses
Best Use
Office B
$261.2K
$228.6K – $304.8K
NOI $18,287 @ 7.0% cap · market cap 6.78%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.13M
$987.7K – $1.32M
NOI $79,014 @ 7.0% cap · market cap 29.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
474
Businesses Nearby
Explore this area
Business Placement
Demographics for 27530, NC
37,470
Population
17,796
Households
2.1
Avg Household Size
41
Median Age
22%
College-Educated
89%
High-School Grad
106.5 sq mi
ZIP Area
352
Density / Sq Mi
$55,507
Median Household Income
$37,696
Median Earnings
$827
Median Rent
$176,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office 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?
Office units - Six individually plumbed suites currently operated as a beauty salon, with surrounding asphalt parking and rear exterior break area.
Where is this office units located?
The property is located at 1309 E Ash St Goldsboro, NC.
What is the asking price?
The asking price for this property is $269,900.
What are key features of this property?
This property features: Built in 1943 commercial building with current beauty salon use; 6 separate suites, each individually plumbed; Ample asphalt parking surrounding the sides and rear of the building
