Commercial Land with Existing
For Sale
$395,000
160 Kinston Highway, Richlands, NC 28574
Commercial Sale, Richlands, NC
Property Size1,290 SF
Lot Size0.30 Acres
Price / SF$306.20
Days on Market472
Property Features for 160 Kinston Highway
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
HB
Subdivision
Not In Subdivision
Directions
Take US Hwy 258/Kinston Hwy towards Richlands. Property fronts Kinston Hwy and Huffmantown Rd.
Standard status
Active
APN
43a-28
Size
1,290 SF
Lot size
0.30 Acres
Taxes and HOA fees
Tax Year
2023
Tax Description
US 258 & SR 1302 .3+- Acres
Legal Description
US 258 & SR 1302 .3+- Acres
Utilities
Sewer type
Septic Tank
Heating system
Heat Pump (Heating), Electric (Heating)
Cooling system
Heat Pump
Building Details
Year built
1958
Building materials
Asbestos, Vinyl Siding, Wood Frame
Roof type
Shingle
Listing Agency:
Doyle Evans Realty, Inc.
(910) 353-1444
Listed By:
Doyle B Evans · License #75555
(910) 526-2347
Added: May 6, 2025
Changed: Aug 19
Last Checked: Aug 20 at 6:06PM
MLS# 100505718
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 0.3-acre commercial land parcel includes two existing structures. A 3-bedroom single-family residence fronts the highway, while a separate rear building of approximately 1300 square feet provides a reception area, small office, and full bath. The improvements feature wood-frame construction, vinyl siding, shingle roofing, electric heat pump systems, and septic service.
The property is located within the Richlands ETJ at 160 Kinston Highway, with 80 feet of frontage along US Hwy 258 and another 75 feet on Huffmantown Rd. Reported traffic counts are 21,000, and Walmart is less than half a mile away. The site carries HB zoning and is in Onslow County, NC.
The property is located within the Richlands ETJ at 160 Kinston Highway, with 80 feet of frontage along US Hwy 258 and another 75 feet on Huffmantown Rd. Reported traffic counts are 21,000, and Walmart is less than half a mile away. The site carries HB zoning and is in Onslow County, NC.
Key Highlights
- 0.3‑acre commercial land parcel with existing improvements
- 80 feet of frontage on US Hwy 258 plus 75 feet on Huffmantown Rd
- Reported traffic counts of 21,000
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Commercial land - HB-zoned parcel includes a highway-facing residence and a rear building with reception, office, and full bath.
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: 0.3‑acre commercial land parcel with existing improvements; 80 feet of frontage on US Hwy 258 plus 75 feet on Huffmantown Rd; Reported traffic counts of 21,000
