Two-Building Office
1655 East Arlington Boulevard, Greenville, NC 27858
For Sale
Contact for pricing
Established office property with NNN occupancy, OR zoning, and a separate parcel for future development or parking.
Property Size25,989 SF
Lot Size3.85 Acres
Price / SF$192.39
Days on Market103
Property Features for 1655 East Arlington Boulevard
General Information
Standard status
Size
Class
Lot size
Property subtype
Zoning
Occupancy
Lease Type
Investment Type
Building Details
Year Built
Year Renovated
Buildings
Stories
Tenancy
Listing Agency:
Kittrell & Armstrong LLC
Listed By:
Stephanie Warren · License NC #340713
(252) 381-3976
Source:
Crexi
Added: Jul 31
Changed: Nov 3
Last Checked: Nov 10 at 8:43AM
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 Kittrell & Armstrong LLC
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Investment Insights
Based on property information with market context.
Built in 2004, the property comprises two office buildings totaling ±25,989 SF on ±2.89 acres. An additional ±0.96-acre parcel is included, providing land for future development, expansion, or parking. The office campus is fully leased under a Triple Net (NNN) structure and has maintained continuous occupancy for more than 20 years.
The property is located at 1655 and 1659 East Arlington Boulevard in Greenville, North Carolina, within the Bradford Park Office Development. It offers direct boulevard visibility and access to ECU Health Medical Center, East Carolina University, and nearby retail and commercial amenities. Office Residential (OR) zoning and ample parking support the property's established professional-office configuration.
The property is located at 1655 and 1659 East Arlington Boulevard in Greenville, North Carolina, within the Bradford Park Office Development. It offers direct boulevard visibility and access to ECU Health Medical Center, East Carolina University, and nearby retail and commercial amenities. Office Residential (OR) zoning and ample parking support the property's established professional-office configuration.
Key Highlights
- Two office buildings totaling ±25,989 SF
- ±2.89‑acre campus plus an additional ±0.96‑acre parcel
- 100% leased under a Triple Net (NNN) structure
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$279,804
Cap Rate
5.60%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,596,080
$5.6M
Cap Rate 7%
$3,997,200
$4.0M
Cap Rate 9%
$3,108,933
$3.1M
Market Conditions
NOI Build-Up for 25,989 SF
Gross rent
$452.2K $17.40/SF
− Vacancy
−$79.1K −$3.05/SF
EGI
$373.1K $14.35/SF
− OpEx
−$93.3K −$3.59/SF
NOI
$279.8K $10.77/SF
Area
Pitt County, NC
Vacancy
17.50%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,596,080
Cap Rate 7%
$3,997,200
Cap Rate 9%
$3,108,933
Alternative Uses
Best Use
Office B
$4.00M
$3.50M – $4.66M
NOI $279,804 @ 7.0% cap · market cap 5.60%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.66M
$4.95M – $6.60M
NOI $396,022 @ 7.0% cap · market cap 7.92%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
904
Businesses Nearby
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Demographics for 27858, NC
52,857
Population
26,281
Households
2
Avg Household Size
31
Median Age
46%
College-Educated
94%
High-School Grad
61.4 sq mi
ZIP Area
861
Density / Sq Mi
$60,915
Median Household Income
$34,598
Median Earnings
$1,042
Median Rent
$233,200
Median Home Value
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - Established office property with NNN occupancy, OR zoning, and a separate parcel for future development or parking.
Where is this office building located?
The property is located at 1655 East Arlington Boulevard Greenville, NC.
What is the asking price?
The asking price for this property is $5,000,000.
What are key features of this property?
This property features: Two office buildings totaling ±25,989 SF; ±2.89‑acre campus plus an additional ±0.96‑acre parcel; 100% leased under a Triple Net (NNN) structure
