Flex Space with
200 W Second Street, Kenly, NC 27542
For Sale
$349,900
Commercial Sale, Kenly, NC
Property Size5,445 SF
Lot Size0.25 Acres
Price / SF$64.26
Days on Market8
Property Features for 200 W Second Street
General Information
Property type
Property subtype
Zoning
Subdivision
Lot features
Directions
Standard status
APN
Size
Lot size
Taxes and HOA fees
Tax Year
Tax Description
Tax Annual Amount
Legal Description
Utilities
Sewer type
Heating system
Water source
Amenities
front counter area
designated office spaces
rear workshop/garage with roll-up doors
walk-up storage
Building Details
Year built
Building materials
Listing Agency:
Carolina Realty
(919) 934-0118
Listed By:
Joey Millard-Edwards · License NC #211714
(919) 291-1491
Added: Nov 6
Changed: Nov 10
Last Checked: Nov 13 at 11:06PM
MLS# 100615540
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.
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Investment Insights
Based on property information with market context.
The 5,445-square-foot flex property has a primarily single-level layout with a front counter area, designated offices, and a rear workshop and garage fitted with large roll-up doors. Walk-up storage adds another functional area. The building is block construction, was built in 1965, and has propane heating, public water, and public sewer. Zoning is COM.
On a 0.25-acre parcel at 200 W Second Street in Kenly, the property is within walking distance of downtown businesses and less than five minutes from I-95. The existing combination of counter, office, workshop, garage, and storage areas is arranged within one building.
On a 0.25-acre parcel at 200 W Second Street in Kenly, the property is within walking distance of downtown businesses and less than five minutes from I-95. The existing combination of counter, office, workshop, garage, and storage areas is arranged within one building.
Key Highlights
- 5,445 square feet on a 0.25‑acre parcel
- Front counter area, designated offices, and rear workshop/garage
- Large roll‑up doors at the rear garage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,902
Cap Rate
9.12%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$638,040
$638.0K
Cap Rate 7%
$455,743
$455.7K
Cap Rate 9%
$354,467
$354.5K
Market Conditions
NOI Build-Up for 5,445 SF
Gross rent
$49.0K $9.00/SF
− Vacancy
−$3.4K −$0.63/SF
EGI
$45.6K $8.37/SF
− OpEx
−$13.7K −$2.51/SF
NOI
$31.9K $5.86/SF
Area
Johnston County, NC
Vacancy
7.00%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$638,040
Cap Rate 7%
$455,743
Cap Rate 9%
$354,467
Alternative Uses
Best Use
Flex RnD
$853.7K
$747.0K – $996.0K
NOI $59,757 @ 7.0% cap · market cap 17.08%
Second Best
Industrial
$455.7K
$398.8K – $531.7K
NOI $31,902 @ 7.0% cap · market cap 9.12%
Theoretical Best
Office A
$1.65M
$1.44M – $1.92M
NOI $115,307 @ 7.0% cap
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
253
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 27542, NC
9,607
Population
4,307
Households
2.2
Avg Household Size
40
Median Age
17%
College-Educated
86%
High-School Grad
90.1 sq mi
ZIP Area
107
Density / Sq Mi
$56,157
Median Household Income
$39,217
Median Earnings
$769
Median Rent
$180,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in South region
Frequently Asked Questions
What type of property is this?
Flex space - A mostly single-level layout combines customer-facing counter space, offices, and a rear garage-workshop.
Where is this flex space located?
The property is located at 200 W Second Street Kenly, NC.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: 5,445 square feet on a 0.25‑acre parcel; Front counter area, designated offices, and rear workshop/garage; Large roll‑up doors at the rear garage
