Drug Store
New
For Sale
$1,500,000
2302 Wayne Memorial Drive, Goldsboro, NC 27534
Commercial Sale, Goldsboro, NC
Property Size9,193 SF
Lot Size0.55 Acres
Price / SF$163.17
Days on Market5
Property Features for 2302 Wayne Memorial Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
GB & O&I-I
Subdivision
Not In Subdivision
Directions
From Kinston, take US Hwy 70 E. right on Wayne Memorial Drive, on right hand side of road.
Standard status
Active
APN
3600916457
Size
9,193 SF
Lot size
0.55 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
Deed Book 3380, Page 856 - Wayne County
Legal Description
Deed Book 3380, Page 856 - Wayne County
Utilities
Heating system
Electric (Heating)
Building Details
Year built
1972
Listing Agency:
Wayne Realty
(919) 735-1341
Listed By:
Bob Logan · License #72422
(919) 735-1876
Added: Sep 10
Changed: Sep 11
Last Checked: Sep 14 at 4:06AM
MLS# 100602903
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.
The property comprises a 9,193-square-foot commercial building on a 0.55-acre parcel at 2302 Wayne Memorial Drive. Constructed in 1972, the building was formerly occupied by Wayne Pharmacy and is heated by electricity.
The property is located in Goldsboro, Wayne County, North Carolina, with zoning identified as GB & O&I-I. Its commercial building format and existing interior area provide a defined physical asset for a future owner or occupant to evaluate.
The property is located in Goldsboro, Wayne County, North Carolina, with zoning identified as GB & O&I-I. Its commercial building format and existing interior area provide a defined physical asset for a future owner or occupant to evaluate.
Key Highlights
- 9,193‑square‑foot commercial building
- 0.55‑acre parcel
- Former Wayne Pharmacy building
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
$112,820
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
7.52%
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%
$2,256,400
$2.3M
Cap Rate 7%
$1,611,714
$1.6M
Cap Rate 9%
$1,253,556
$1.3M
Market Conditions
NOI Build-Up for 9,193 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
$165.5K $18.00/SF
− Vacancy
−$4.3K −$0.47/SF
EGI
$161.2K $17.53/SF
− OpEx
−$48.4K −$5.26/SF
NOI
$112.8K $12.27/SF
Area
Wayne County, NC
Vacancy
2.60%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$2,256,400
Cap Rate 7%
$1,611,714
Cap Rate 9%
$1,253,556
Alternative Uses
Best Use
Specialty Retail
$7.39M
$6.47M – $8.62M
NOI $517,361 @ 7.0% cap · market cap 34.49%
Second Best
Retail
$1.61M
$1.41M – $1.88M
NOI $112,820 @ 7.0% cap · market cap 7.52%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
810
Businesses Nearby
172k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 67%
Groceries 25%
Shops & Services 6%
Electronics 1%
McDonald's
Dining
39,173 visits/mo
0.2 miles
Harris Teeter
Groceries
35,033 visits/mo
0.2 miles
Starbucks
Dining
19,571 visits/mo
0.1 miles
Taco Bell
Dining
15,593 visits/mo
0.4 miles
Wendy's
Dining
12,857 visits/mo
0.1 miles
Demographics for 27534, NC
30,844
Population
15,158
Households
2
Avg Household Size
38
Median Age
29%
College-Educated
91%
High-School Grad
73.1 sq mi
ZIP Area
422
Density / Sq Mi
$59,950
Median Household Income
$39,686
Median Earnings
$1,106
Median Rent
$187,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
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Similar Off Market Nearby
- Pharmacy — 1809 Wayne Memorial Dr, Goldsboro, NC 27534
- Harris Teeter Pharmacy — 2120 Wayne Memorial Dr, Goldsboro, NC 27534
- Pharmacy — Goldsboro, NC 27534
- CBD American Shaman — 2138 Wayne Memorial Dr, Goldsboro, NC 27534
- Aaron J. Dunets, PharmD — 2203 Wayne Memorial Dr, Goldsboro, NC 27534
Frequently Asked Questions
What type of property is this?
Drug store - Existing commercial building with substantial interior area and GB & O&I-I zoning.
Where is this drug store located?
The property is located at 2302 Wayne Memorial Drive Goldsboro, NC.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 9,193‑square‑foot commercial building; 0.55‑acre parcel; Former Wayne Pharmacy building
