Storefront Property with Six
For Sale
$695,000
2707 Royall Ave, Goldsboro, NC 27534
Three of the buildings are currently leased, providing an existing occupancy component.
Property Size2,731 SF
Price / SF$254.49
Days on Market12
Property Features for 2707 Royall Ave
General Information
Standard status
Active
Size
2,731 SF
Occupancy
50%
Building Details
Year Built
1955
Buildings
6
Listing Agency:
Wayne Realty
(919) 735-1876
Listed By:
Bob Logan · License #72422
Source:
Bradberrygarnerrealestate
Added: Aug 19
Changed: Aug 28
Last Checked: Aug 29 at 12:34PM
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 Wayne Realty
Investment Insights
Based on property information with market context.
This storefront property includes six buildings constructed in 1955. Three buildings are currently leased, while the main building was previously occupied by the seller. Two additional buildings have been used for storage.
The property is located at 2707 Royall Ave in Goldsboro, North Carolina.
The property is located at 2707 Royall Ave in Goldsboro, North Carolina.
Key Highlights
- Six‑building storefront property
- Three buildings currently leased
- Main building was previously seller‑occupied
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
$33,516
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
4.82%
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%
$670,320
$670.3K
Cap Rate 7%
$478,800
$478.8K
Cap Rate 9%
$372,400
$372.4K
Market Conditions
NOI Build-Up for 2,731 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
$49.2K $18.00/SF
− Vacancy
−$1.3K −$0.47/SF
EGI
$47.9K $17.53/SF
− OpEx
−$14.4K −$5.26/SF
NOI
$33.5K $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%
$670,320
Cap Rate 7%
$478,800
Cap Rate 9%
$372,400
Alternative Uses
Best Use
Retail
$478.8K
$419.0K – $558.6K
NOI $33,516 @ 7.0% cap · market cap 4.82%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.20M
$1.92M – $2.56M
NOI $153,694 @ 7.0% cap · market cap 22.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
50%
Occupancy
Location Intelligence
Trade Area within ½ mile
783
Businesses Nearby
542k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 49%
Shops & Services 27%
Dining 15%
Apparel 6%
Walmart
Superstores
93,651 visits/mo
0.2 miles
Sam's Club
Superstores
93,302 visits/mo
0.5 miles
Target
Superstores
81,235 visits/mo
0.4 miles
Five Below
Shops & Services
40,458 visits/mo
0.5 miles
Sheetz
Shops & Services
34,703 visits/mo
0.3 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
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Storefront property - Three of the buildings are currently leased, providing an existing occupancy component.
Where is this storefront property located?
The property is located at 2707 Royall Ave Goldsboro, NC.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: Six‑building storefront property; Three buildings currently leased; Main building was previously seller‑occupied
