Medical Office Condo with Private
For Sale
Contact for pricing
2902 CENTRAL HEIGHTS RD SUITE B, Goldsboro, NC 27534
Single-story medical space includes its own restroom, split-system HVAC, and paved asphalt parking at the front.
Property Size639 SF
Price / SF$293.04
Days on Market9
Property Features for 2902 CENTRAL HEIGHTS RD SUITE B
General Information
Standard status
Active
Size
639 SF
Property subtype
Office
Zoning
R-12
Additional Details
Highway Access
Yes
Office Units
1
Amenities
private exterior entrance
dedicated restroom
fire-rated demising walls
split-system HVAC
Building Details
Year Built
1989
Buildings
1
Stories
1
Units
6
Construction
steel frame
Listing Agency:
Keller Williams Realty Points East
Listed By:
Tim Ferruzzi · License #NC 89665
(910) 729-9180
Source:
Crexi
Added: Aug 28
Changed: Sep 1
Last Checked: Sep 2 at 6:20PM
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 Keller Williams Realty Points East
Investment Insights
Based on property information with market context.
This 639-square-foot medical office condo is a single-story suite within a steel-frame building constructed in 1989. The unit has a separate exterior entry, dedicated restroom, fire-rated demising walls, and split-system HVAC serving the space. Paved asphalt parking is positioned directly in front of the suite, supporting convenient patient and staff access. The property is zoned R-12 and is currently part of an active medical office setting.
Located within Goldsboro city limits, the suite sits half a mile east of the North Berkeley Boulevard corridor with immediate access to US 70. Seymour Johnson AFB is nearby. Five additional suites are offered separately, and the entire building is also available. Seller financing is available.
Located within Goldsboro city limits, the suite sits half a mile east of the North Berkeley Boulevard corridor with immediate access to US 70. Seymour Johnson AFB is nearby. Five additional suites are offered separately, and the entire building is also available. Seller financing is available.
Key Highlights
- 639 SF medical office condo unit
- Private exterior entrance and dedicated restroom
- Split‑system HVAC under suite control
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
$8,323
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
4.44%
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%
$166,460
$166.5K
Cap Rate 7%
$118,900
$118.9K
Cap Rate 9%
$92,478
$92.5K
Market Conditions
NOI Build-Up for 639 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
$13.8K $21.60/SF
− Vacancy
−$2.7K −$4.23/SF
EGI
$11.1K $17.37/SF
− OpEx
−$2.8K −$4.34/SF
NOI
$8.3K $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%
$166,460
Cap Rate 7%
$118,900
Cap Rate 9%
$92,478
Alternative Uses
Best Use
Healthcare Medical
$363.7K
$318.3K – $424.4K
NOI $25,461 @ 7.0% cap · market cap 13.60%
Second Best
Office B
$118.9K
$104.0K – $138.7K
NOI $8,323 @ 7.0% cap · market cap 4.44%
Theoretical Best
Specialty Retail
$513.7K
$449.5K – $599.4K
NOI $35,961 @ 7.0% cap · market cap 19.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Office units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
684
Businesses Nearby
Well-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.
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Single-story medical space includes its own restroom, split-system HVAC, and paved asphalt parking at the front.
Where is this medical office space located?
The property is located at 2902 CENTRAL HEIGHTS RD SUITE B Goldsboro, NC.
What is the asking price?
The asking price for this property is $187,250.
What are key features of this property?
This property features: 639 SF medical office condo unit; Private exterior entrance and dedicated restroom; Split‑system HVAC under suite control
