Concrete Storefront
For Sale
$990,000
1406 W Gramtham Street, Goldsboro, NC 27530
CommercialSale, Goldsboro, NC
Property Size6,537 SF
Lot Size1.18 Acres
Price / SF$151.45
Days on Market312
Property Features for 1406 W Gramtham Street
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning description
M1 - Industrial District
Parking
32
Parking features
Parking Lot
Security features
Security
Interior features
HighSpeedInternet
Subdivision
WAYNE COUNTY
Lot features
One To Two Acres, Cleared, Level
Directions
GPS
Standard status
Active
APN
2690221593
Size
6,537 SF
Lot size
1.18 Acres
Taxes and HOA fees
Tax Description
LT 4 BORDEN FARM
Legal Description
LT 4 BORDEN FARM
Utilities
Sewer type
Public Sewer
Heating system
Heat Pump (Heating)
Cooling system
Central Air
Water source
Public
Building Details
Year built
2001
Building materials
Concrete
Roof type
Tar/Gravel
Listing Agency:
VIP ROYAL SERVICE
(910) 987-9221
Listed By:
DONNIE ATCHISON · License #269782
(910) 321-1002
Added: Nov 6, 2025
Changed: Aug 19
Last Checked: Sep 14 at 3:06AM
MLS# 752981
Copyright © 2026 Longleaf Pine Realtors. 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.
This 6,537-square-foot storefront property was built in 2001 on a 1.18-acre parcel. Concrete construction, a tar-and-gravel roof, central air conditioning, and heat-pump heating define the building’s core improvements. The property also includes a parking lot, high-speed internet, public water, and public sewer.
The building fronts a four-lane road in Wayne County and sits near North Drive Elementary School, Carver Heights Elementary School, and Dillard Middle School. Its combination of retail-oriented storefront space, on-site parking, and established utility service provides a straightforward commercial setting for an owner-user or retail operation.
The building fronts a four-lane road in Wayne County and sits near North Drive Elementary School, Carver Heights Elementary School, and Dillard Middle School. Its combination of retail-oriented storefront space, on-site parking, and established utility service provides a straightforward commercial setting for an owner-user or retail operation.
Key Highlights
- 6,537‑square‑foot storefront property on 1.18 acres
- Built in 2001 with concrete construction
- Fronts a four‑lane road in Wayne County
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
$80,225
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
8.10%
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%
$1,604,500
$1.6M
Cap Rate 7%
$1,146,071
$1.1M
Cap Rate 9%
$891,389
$891.4K
Market Conditions
NOI Build-Up for 6,537 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
$117.7K $18.00/SF
− Vacancy
−$3.1K −$0.47/SF
EGI
$114.6K $17.53/SF
− OpEx
−$34.4K −$5.26/SF
NOI
$80.2K $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%
$1,604,500
Cap Rate 7%
$1,146,071
Cap Rate 9%
$891,389
Alternative Uses
Best Use
Retail
$1.15M
$1.00M – $1.34M
NOI $80,225 @ 7.0% cap · market cap 8.10%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$5.26M
$4.60M – $6.13M
NOI $367,887 @ 7.0% cap · market cap 37.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
128
Businesses Nearby
56k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 47%
Shops & Services 27%
Home Improvements & Furnishings 26%
McDonald's
Dining
26,519 visits/mo
0.3 miles
Tractor Supply Co.
Home Improvements & Furnishings
14,821 visits/mo
0.2 miles
Speedway
Shops & Services
8,228 visits/mo
0.3 miles
Dollar General
Shops & Services
4,068 visits/mo
0.1 miles
AutoZone
Shops & Services
2,618 visits/mo
0.1 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
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Frequently Asked Questions
What type of property is this?
Storefront property - Retail building with public utilities, paved parking, central air, and heat-pump heating.
Where is this storefront property located?
The property is located at 1406 W Gramtham Street Goldsboro, NC.
What is the asking price?
The asking price for this property is $990,000.
What are key features of this property?
This property features: 6,537‑square‑foot storefront property on 1.18 acres; Built in 2001 with concrete construction; Fronts a four‑lane road in Wayne County
