Medical Office
For Sale
$450,000
2400 Wayne Memorial Drive, Goldsboro, NC 27534
Commercial Sale, Goldsboro, NC
Property Size2,096 SF
Price / SF$214.69
Days on Market3232
Property Features for 2400 Wayne Memorial Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
O&I
Directions
From Kinston, take US Hwy 70 E. right on Wayne Memorial Drive, on right beside Wayne Pharmacy
Standard status
Active
APN
3600918415
Size
2,096 SF
Taxes and HOA fees
Tax Year
2021
Tax Description
Deed Book 2588, Page 750 - Wayne County Registry
Tax Annual Amount
1
HOA Fee
$10,260 Annually
Legal Description
Deed Book 2588, Page 750 - Wayne County Registry
Utilities
Utilities
Water Available
Heating system
Heat Pump (Heating), Electric (Heating)
Water source
Public
Building Details
Year built
1971
Flooring type
Vinyl, Carpet
Building materials
Brick/Stone
Roof type
Wood
Listing Agency:
Wayne Realty
(919) 735-1341
Listed By:
Bob Logan · License #72422
(919) 735-1876
Added: Oct 16, 2017
Changed: Aug 19
Last Checked: Aug 21 at 11:06AM
MLS# 69755
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 2,096-square-foot medical office space is located within Wayne Medical Pavilion in Goldsboro. The suite was built in 1971 and features brick and stone construction, vinyl and carpet flooring, electric heating, and a heat pump. Public water is available, and the property carries O&I zoning.
The space is situated at 2400 Wayne Memorial Drive, Goldsboro, NC 27534. Existing lease information states that the tenant provided notice of nonrenewal for a lease expiring August 31, 2023.
The space is situated at 2400 Wayne Memorial Drive, Goldsboro, NC 27534. Existing lease information states that the tenant provided notice of nonrenewal for a lease expiring August 31, 2023.
Key Highlights
- 2,096‑square‑foot medical office space
- Located within Wayne Medical Pavilion
- O&I zoning designation
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
$27,300
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
6.07%
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%
$546,000
$546.0K
Cap Rate 7%
$390,000
$390.0K
Cap Rate 9%
$303,333
$303.3K
Market Conditions
NOI Build-Up for 2,096 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
$45.3K $21.60/SF
− Vacancy
−$8.9K −$4.23/SF
EGI
$36.4K $17.37/SF
− OpEx
−$9.1K −$4.34/SF
NOI
$27.3K $13.02/SF
Area
Wayne County, NC
Vacancy
19.60%
Lease Rate
$21.60 /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%
$546,000
Cap Rate 7%
$390,000
Cap Rate 9%
$303,333
Alternative Uses
Best Use
Healthcare Medical
$1.19M
$1.04M – $1.39M
NOI $83,515 @ 7.0% cap · market cap 18.56%
Second Best
Office B
$390.0K
$341.3K – $455.0K
NOI $27,300 @ 7.0% cap · market cap 6.07%
Theoretical Best
Specialty Retail
$1.69M
$1.47M – $1.97M
NOI $117,958 @ 7.0% cap · market cap 26.21%
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
810
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
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
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?
Medical Office Space - Brick medical office suite within Wayne Medical Pavilion, with vinyl and carpet flooring and public water service.
Where is this medical office space located?
The property is located at 2400 Wayne Memorial Drive Goldsboro, NC.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 2,096‑square‑foot medical office space; Located within Wayne Medical Pavilion; O&I zoning designation
