6-Suite Spa & Wellness
For Sale
$269,900
1309 E Ash Street, Goldsboro, NC 27530
Commercial Sale, Goldsboro, NC
Property Size1,404 SF
Lot Size0.24 Acres
Price / SF$192.24
Days on Market75
Property Features for 1309 E Ash Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
R-9
Subdivision
Greenfield
Directions
Heading E. on Ash Street turn left on the Ash Street loop just across from ASH/OLEANDER intersection.
Standard status
Active
APN
12000105006019
Size
1,404 SF
Lot size
0.24 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LT 4 BLK B GREENFIELD
Tax Annual Amount
1621
Legal Description
LT 4 BLK B GREENFIELD
Utilities
Heating system
Electric (Heating)
Amenities
individually plumbed suites
exterior break area
Building Details
Year built
1943
Listing Agency:
Wilkins & Lancaster Realty, LLC
Listed By:
Riley Wilkins · License #285525
(919) 922-7530
Added: Jul 22
Changed: Aug 19
Last Checked: Oct 4 at 2:06PM
MLS# 100590881
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.
Located at 1309 E Ash Street in Goldsboro, this 1,404-square-foot commercial property is configured for beauty and wellness operations. The building contains six separate suites, each with individual plumbing, and the current use is a beauty salon. The 1943 building is heated by electricity and has been maintained over the years.
Asphalt paving encircles the building, with parking positioned along the sides and rear. A 14 x 20 attached carport at the rear has been converted into an exterior break area. The property occupies 0.24 acres and carries R-9 zoning.
Asphalt paving encircles the building, with parking positioned along the sides and rear. A 14 x 20 attached carport at the rear has been converted into an exterior break area. The property occupies 0.24 acres and carries R-9 zoning.
Key Highlights
- Six separate suites, each individually plumbed
- 1,404‑square‑foot commercial building on 0.24 acres
- Current beauty salon configuration
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
$17,230
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
6.38%
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%
$344,600
$344.6K
Cap Rate 7%
$246,143
$246.1K
Cap Rate 9%
$191,444
$191.4K
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
$25.3K $18.00/SF
− Vacancy
−$657 −$0.47/SF
EGI
$24.6K $17.53/SF
− OpEx
−$7.4K −$5.26/SF
NOI
$17.2K $12.27/SF
Area
Wayne County, NC
Vacancy
2.60%
Lease Rate
$18.00 /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%
$344,600
Cap Rate 7%
$246,143
Cap Rate 9%
$191,444
Alternative Uses
Best Use
Retail
$246.1K
$215.4K – $287.2K
NOI $17,230 @ 7.0% cap · market cap 6.38%
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
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
474
Businesses Nearby
19k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 46%
Dining 37%
Shops & Services 17%
Piggly Wiggly
Groceries
8,777 visits/mo
0.4 miles
KFC
Dining
4,691 visits/mo
0.5 miles
H&R Block
Shops & Services
2,717 visits/mo
0.5 miles
Great Harvest Bread Co.
Dining
2,303 visits/mo
0.5 miles
Jackson Hewitt Tax Service
Shops & Services
442 visits/mo
0.4 miles
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 Retail in South region
Questions? Ask Rey
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Similar Off Market Nearby
- DRTC Advisors Goldsboro — us-70 bus, goldsboro, nc 27530
Frequently Asked Questions
What type of property is this?
Spa & wellness property - Existing salon configuration includes individually plumbed suites, side and rear parking, and a converted rear break area.
Where is this spa & wellness property located?
The property is located at 1309 E Ash Street 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: Six separate suites, each individually plumbed; 1,404‑square‑foot commercial building on 0.24 acres; Current beauty salon configuration
