Flex Space with Storage
For Sale
$549,000
213 Us 70 W, Havelock, NC 28532
COMMERCIAL - Havelock, NC
Property Size4,032 SF
Lot Size0.91 Acres
Price / SF$136.16
Days on Market548
Property Features for 213 Us 70 W
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Subdivision
Not In Subdivision
Directions
HWY 70 West in Havelock
Standard status
Active
APN
6-047 -003
Size
4,032 SF
Lot size
0.91 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
6-7 TILTON LD E RYMA
Tax Annual Amount
4261
Legal Description
6-7 TILTON LD E RYMA
Utilities
Utilities
Water Available
Heating system
Heat Pump (Heating), Electric (Heating), Propane (Heating)
Cooling system
Central Air, Heat Pump
Water source
Public
Building Details
Year built
1986
Listing Agency:
Keller Williams Realty
(252) 637-2010
Listed By:
ROSS BEEBE · License #213811
(252) 229-0933
Added: Feb 17, 2025
Changed: Aug 19
Last Checked: Aug 19 at 11:06PM
MLS# 100489649
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 a 4,032-square-foot office and shop building with a separate 2,000-square-foot storage structure on 0.91 acres. Constructed in 1986, the main building offers a practical blend of office and work space, while the second building expands on-site storage capacity. Heating includes heat pumps, electric, and propane, with central air and heat pump cooling. Public water is available.
The property is located at 213 US 70 W in Havelock, NC, on the western side of the city. Commercial zoning supports the property's current commercial configuration. The site is occupied by a marine service operation, and business assets may be purchased separately; the offering is focused on the real estate.
The property is located at 213 US 70 W in Havelock, NC, on the western side of the city. Commercial zoning supports the property's current commercial configuration. The site is occupied by a marine service operation, and business assets may be purchased separately; the offering is focused on the real estate.
Key Highlights
- 4,032 SF office/shop building
- Additional 2,000 SF storage building
- 0.91‑acre commercial site
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
$44,635
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
8.13%
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%
$892,700
$892.7K
Cap Rate 7%
$637,643
$637.6K
Cap Rate 9%
$495,944
$495.9K
Market Conditions
NOI Build-Up for 4,032 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
$81.3K $20.16/SF
− Vacancy
−$12.6K −$3.13/SF
EGI
$68.7K $17.03/SF
− OpEx
−$24.0K −$5.96/SF
NOI
$44.6K $11.07/SF
Area
Craven County, NC
Vacancy
15.52%
Lease Rate
$20.16 /SF/Yr
Expense Ratio
35.00%
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%
$892,700
Cap Rate 7%
$637,643
Cap Rate 9%
$495,944
Alternative Uses
Best Use
Flex RnD
$637.6K
$557.9K – $743.9K
NOI $44,635 @ 7.0% cap · market cap 8.13%
Second Best
Warehouse
$453.8K
$397.1K – $529.5K
NOI $31,769 @ 7.0% cap · market cap 5.79%
Theoretical Best
Office A
$1.33M
$1.16M – $1.55M
NOI $93,054 @ 7.0% cap · market cap 16.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
238
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 28532, NC
20,340
Population
8,677
Households
2.3
Avg Household Size
33
Median Age
19%
College-Educated
93%
High-School Grad
165.4 sq mi
ZIP Area
123
Density / Sq Mi
$65,772
Median Household Income
$38,839
Median Earnings
$1,270
Median Rent
$193,200
Median Home Value
Market
Vacancy Rate% for Industrial 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 - Commercially zoned site includes office, shop, and additional storage capacity.
Where is this flex space located?
The property is located at 213 Us 70 W Havelock, NC.
What is the asking price?
The asking price for this property is $549,000.
What are key features of this property?
This property features: 4,032 SF office/shop building; Additional 2,000 SF storage building; 0.91‑acre commercial site
