Office/Warehouse Space with Loading
For Sale
$414,000
1409 W Grantham Street, Goldsboro, NC 27530
Office and warehouse space featuring four loading dock doors.
Property Size4,708 SF
Price / SF$87.94
Days on Market127
Property Features for 1409 W Grantham Street
General Information
Standard status
Active
Size
4,708 SF
Property subtype
Commercial
Zoning
I-2
Taxes and HOA fees
Annual Taxes
$4,952
Building Details
Building Size
4,708 SF
Year Built
1961
Listing Agency:
Wayne Realty
(919) 735-1876
Listed By:
Bob Logan · License #72422
(919) 735-1876
Source:
Frankerealproperties
Added: Apr 20
Changed: Aug 23
Last Checked: Aug 23 at 6:43AM
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 Wayne Realty
Investment Insights
Based on property information with market context.
This property offers office and warehouse space, equipped with four loading dock doors.
Key Highlights
- Office/Warehouse Space
- Features 4 Loading Dock Doors
- Year Built: 1961
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
$36,590
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
8.84%
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%
$731,800
$731.8K
Cap Rate 7%
$522,714
$522.7K
Cap Rate 9%
$406,556
$406.6K
Market Conditions
NOI Build-Up for 4,708 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
$46.3K $9.84/SF
− Vacancy
−$3.3K −$0.70/SF
EGI
$43.0K $9.14/SF
− OpEx
−$6.5K −$1.37/SF
NOI
$36.6K $7.77/SF
Area
Wayne County, NC
Vacancy
7.08%
Lease Rate
$9.84 /SF/Yr
Expense Ratio
15.00%
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%
$731,800
Cap Rate 7%
$522,714
Cap Rate 9%
$406,556
Alternative Uses
Best Use
Office B
$876.0K
$766.5K – $1.02M
NOI $61,321 @ 7.0% cap · market cap 14.81%
Second Best
Warehouse
$522.7K
$457.4K – $609.8K
NOI $36,590 @ 7.0% cap · market cap 8.84%
Theoretical Best
Specialty Retail
$3.79M
$3.31M – $4.42M
NOI $264,956 @ 7.0% cap · market cap 64.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
125
Businesses Nearby
Well-served
Demand for This Use
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Similar Off Market Nearby
- Red Shark Storage - Goldsboro — 150 Claridge Nursery Rd, Goldsboro, NC 27530
- Tri Star Storage — 832 W Grantham St, Goldsboro, NC 27530
Frequently Asked Questions
What type of property is this?
Warehouse - Office and warehouse space featuring four loading dock doors.
Where is this warehouse located?
The property is located at 1409 W Grantham Street Goldsboro, NC.
What is the asking price?
The asking price for this property is $414,000.
What are key features of this property?
This property features: Office/Warehouse Space; Features 4 Loading Dock Doors; Year Built: 1961
