Gas Station and Warehouse
For Sale
$5,900,000
111 Hines Street W, Wilson, NC 27893
Commercial package combines a gas station, grill, and warehouse improvements.
Property Size15,940 SF
Lot Size1.60 Acres
Days on Market849
Property Features for 111 Hines Street W
General Information
Standard status
Active
Size
15,940 SF
Lot size
1.60 Acres
Property subtype
Commercial
Zoning
commercial
Financials
Asking Price
$5,900,000
Business Included
Yes
Amenities
canopy
lift gate
Building Details
Building Size
15,940 SF
Year Built
1969
Buildings
3
Listing Agency:
Green Valley Realty
(252) 292-0615
Listed By:
Denise Allan · License #282384
(252) 292-0615
Source:
Thomasrealtysold
Added: Apr 24, 2024
Changed: Aug 16
Last Checked: Aug 20 at 2:08PM
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 Green Valley Realty
Investment Insights
Based on property information with market context.
This commercial property package includes a gas station and grill business supported by multiple warehouse improvements. The primary station contains approximately 2,000 square feet, along with new pumps and a canopy. Additional facilities include a 9,500-square-foot warehouse with offices and a lift gate, plus a 4,900-square-foot powered warehouse. The property was built in 1969 and encompasses approximately 1.60 acres.
The assets are located on Hines Street W and Spruce Street W in Wilson, North Carolina. Commercial zoning is identified for the property. The offering combines retail fuel operations, food service, office areas, and warehouse space across the included locations.
The assets are located on Hines Street W and Spruce Street W in Wilson, North Carolina. Commercial zoning is identified for the property. The offering combines retail fuel operations, food service, office areas, and warehouse space across the included locations.
Key Highlights
- Gas station and grill business included in the offering
- Approximately 1.60 acres with commercial zoning
- 2,000 sq ft station with new pumps and canopy
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
$197,975
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
3.36%
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%
$3,959,500
$4.0M
Cap Rate 7%
$2,828,214
$2.8M
Cap Rate 9%
$2,199,722
$2.2M
Market Conditions
NOI Build-Up for 15,940 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
$286.9K $18.00/SF
− Vacancy
−$23.0K −$1.44/SF
EGI
$264.0K $16.56/SF
− OpEx
−$66.0K −$4.14/SF
NOI
$198.0K $12.42/SF
Area
Wilson County, NC
Vacancy
8.00%
Lease Rate
$18.00 /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%
$3,959,500
Cap Rate 7%
$2,828,214
Cap Rate 9%
$2,199,722
Alternative Uses
Best Use
Specialty Retail
$2.83M
$2.47M – $3.30M
NOI $197,975 @ 7.0% cap · market cap 3.36%
Second Best
Retail
$2.36M
$2.07M – $2.76M
NOI $165,395 @ 7.0% cap · market cap 2.80%
Theoretical Best
Office A
$3.83M
$3.35M – $4.46M
NOI $267,807 @ 7.0% cap · market cap 4.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
875
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 Industrial 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?
Gas station - Commercial package combines a gas station, grill, and warehouse improvements.
Where is this gas station located?
The property is located at 111 Hines Street W Wilson, NC.
What is the asking price?
The asking price for this property is $5,900,000.
What are key features of this property?
This property features: Gas station and grill business included in the offering; Approximately 1.60 acres with commercial zoning; 2,000 sq ft station with new pumps and canopy
