Commercial Land with Existing
For Sale
$395,000
160 Kinston Highway, Richlands, NC 28574
HB-zoned site includes a highway-facing home and a separate building suited to office, retail, or salon use.
Property Size1,290 SF
Price / SF$306.20
Days on Market480
Property Features for 160 Kinston Highway
General Information
Standard status
Active
Size
1,290 SF
Property subtype
Commercial
Zoning
HB
Amenities
No
Yes
0.3
80x182x75x163
Asbestos,Vinyl Siding
On Site
Paved
City Street,State Road,4+ Lanes,Paved
1290.0
Building Details
Year Built
1958
Listing Agency:
TYSON GROUP, REALTORS
(813) 508-3977
Listed By:
Jon Peters
(813) 508-3977
Source:
Baystreetrealtygroup
Added: May 6, 2025
Changed: Aug 28
Last Checked: Aug 23 at 2:31AM
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 TYSON GROUP, REALTORS
Investment Insights
Based on property information with market context.
This HB-zoned commercial land offering includes approximately 0.3 acres with a 3-bedroom single-family home positioned along the highway. The existing residence measures 1,290 square feet and may support office, retail shop, or salon use. A separate rear building adds approximately 1,300 square feet with a reception area, small office, and full bath. The property was built in 1958.
Frontage includes 80 feet along US Hwy 258 and an additional 75 feet on Huffmantown Road. Reported traffic counts on US Hwy 258 are 21,000, and Walmart is located less than half a mile away. The site is within the Richlands ETJ and is located at 160 Kinston Highway in Richlands, North Carolina.
Frontage includes 80 feet along US Hwy 258 and an additional 75 feet on Huffmantown Road. Reported traffic counts on US Hwy 258 are 21,000, and Walmart is located less than half a mile away. The site is within the Richlands ETJ and is located at 160 Kinston Highway in Richlands, North Carolina.
Key Highlights
- Approximately 0.3 acres zoned HB
- 80 feet of frontage on US Hwy 258
- Additional 75 feet of frontage on Huffmantown Road
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
$14,803
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
3.75%
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%
$296,060
$296.1K
Cap Rate 7%
$211,471
$211.5K
Cap Rate 9%
$164,478
$164.5K
Market Conditions
NOI Build-Up for 1,290 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
$23.2K $18.00/SF
− Vacancy
−$3.5K −$2.70/SF
EGI
$19.7K $15.30/SF
− OpEx
−$4.9K −$3.82/SF
NOI
$14.8K $11.48/SF
Area
Onslow County, NC
Vacancy
15.00%
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%
$296,060
Cap Rate 7%
$211,471
Cap Rate 9%
$164,478
Alternative Uses
Best Use
Office B
$211.5K
$185.0K – $246.7K
NOI $14,803 @ 7.0% cap · market cap 3.75%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$280.2K
$245.2K – $326.9K
NOI $19,616 @ 7.0% cap · market cap 4.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
154
Businesses Nearby
Explore this area
Business Placement
Demographics for 28574, NC
18,689
Population
8,055
Households
2.3
Avg Household Size
32
Median Age
20%
College-Educated
94%
High-School Grad
124.0 sq mi
ZIP Area
151
Density / Sq Mi
$66,555
Median Household Income
$38,605
Median Earnings
$1,123
Median Rent
$204,500
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - HB-zoned site includes a highway-facing home and a separate building suited to office, retail, or salon use.
Where is this commercial land located?
The property is located at 160 Kinston Highway Richlands, NC.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: Approximately 0.3 acres zoned HB; 80 feet of frontage on US Hwy 258; Additional 75 feet of frontage on Huffmantown Road
