Flex Building with Loading
For Sale
$414,000
1409 W Grantham Street, Goldsboro, NC 27530
COMMERCIAL - Goldsboro, NC
Property Size4,708 SF
Lot Size1.00 Acre
Price / SF$87.94
Days on Market122
Property Features for 1409 W Grantham Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
I-2
Subdivision
Not In Subdivision
Directions
Hwy 70 E. to W. Grantham Street, property on right beside Walker Allen Law.
Standard status
Active
APN
12000177002002
Size
4,708 SF
Lot size
1.00 Acre
Taxes and HOA fees
Tax Year
2025
Tax Description
Deed Book 3988, Page 382 - Wayne County
Tax Annual Amount
4953
Legal Description
Deed Book 3988, Page 382 - Wayne County
Utilities
Heating system
Propane (Heating), Heat Pump (Heating), Electric (Heating)
Cooling system
Heat Pump, Central Air
Amenities
4 loading dock doors
Building Details
Year built
1961
Listing Agency:
Wayne Realty
(919) 735-1341
Listed By:
Bob Logan · License #72422
(919) 735-1876
Added: Apr 20
Changed: Aug 19
Last Checked: Aug 19 at 5:06PM
MLS# 100568528
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.
This flex property combines office and warehouse space within a 4,708-square-foot building on 1 acre. The 1961 construction includes four loading dock doors, providing dedicated access for receiving and shipping. Zoning is I-2, and the building is equipped with heat pump and central air cooling, along with propane, heat pump, and electric heating systems.
The property is located at 1409 W Grantham Street in Goldsboro, North Carolina, within Wayne County. Its office-and-warehouse configuration and loading infrastructure provide a practical foundation for commercial occupancy, distribution, storage, or related operations supported by the existing improvements.
The property is located at 1409 W Grantham Street in Goldsboro, North Carolina, within Wayne County. Its office-and-warehouse configuration and loading infrastructure provide a practical foundation for commercial occupancy, distribution, storage, or related operations supported by the existing improvements.
Key Highlights
- 4,708‑square‑foot office and warehouse building
- Four loading dock doors for receiving and shipping
- Situated on 1 acre
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
Flex RnD
$3.06M
$2.68M – $3.58M
NOI $214,540 @ 7.0% cap · market cap 51.82%
Second Best
Office B
$876.0K
$766.5K – $1.02M
NOI $61,321 @ 7.0% cap · market cap 14.81%
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
Lease Details
4
Dock-high doors
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Office and warehouse configuration with I-2 zoning and multiple loading points supports a range of commercial operations.
Where is this flex space 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: 4,708‑square‑foot office and warehouse building; Four loading dock doors for receiving and shipping; Situated on 1 acre
