Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Goldsboro Multifamily Property For Sale Title is generated by Realmo AI

    306 W Pine St, Goldsboro, NC 27530

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    18-unit multifamily property in Goldsboro, North Carolina, near Raleigh.

    Type:Multifamily
    Property size:
    10,050 SF
    Price / SF:
    $104/SF
    Added:
    Feb 13, 2026
    Days on Market:
    98
    Last Refresh:
    Mar 17 at 1:15 pm

    Property Features for 306 W Pine St

    General Information

    Standard status
    Active
    Size
    10,050 SF
    Property subtype
    Multifamily

    Building Details

    Year Built
    1960

    We can help!

    Listing Contact
    Matthew Rice

    Listing agent Matthew Rice License #NC #337472

    Listing office Marcus & Millichap - Raleigh

    Listing date Feb 13, 2026

    Source Crexi

    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 Marcus & Millichap - Raleigh

    HighLights

    • 18‑unit multifamily property with a stable tenant base.
    • Prime location near Seymour Johnson Air Force Base, a major employer.
    • Walking distance to Downtown Goldsboro's amenities.
    • Convenient access to Raleigh and other major cities via I‑795.
    • Located in the expanding Goldsboro, North Carolina market.

    Overview

    West Pine Lofts is an 18-unit multifamily property located in Goldsboro, North Carolina. The property is positioned less than 60 miles from Raleigh, providing convenient access to one of North Carolina’s fastest-growing metropolitan areas. Immediate access to I-795 and other major highways ensures seamless connectivity to Raleigh and other major MSAs. West Pine Lofts is 10 miles from Seymour Johnson Air Force Base, a major economic driver and top employer in the region, employing approximately 5,300 active-duty personnel, 5,100 family members, 1,200 civilians, and 900 reservists. The property is within walking distance of Downtown Goldsboro, offering residents proximity to employment, retail, dining, and entertainment options. The property size is 10050 square feet. The combination of a stable tenant base, strategic location, and potential for increased revenue positions this asset as an attractive opportunity in an expanding North Carolina market.

    Financial Insights

    Value Estimation Calculated for Apartment 5plus

    Conservative
    $910.2K
    NOI $81,918 @ 9.00% cap · cautious / downside scenario
    Moderate
    $1.17M
    NOI $81,918 @ 7.00% cap · market / base-case scenario
    Aggressive
    $1.64M
    NOI $81,918 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    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.
         Calculated for Apartment 5plus

    Component $ $/SF
    Gross rent $156.8k $15.60
    − Vacancy −$7.8k −$0.78
    EGI $148.9k $14.82
    − OpEx −$67.0k −$6.67
    NOI $81.9k $8.15
    10,050 SF · lease $15.60/SF/yr · vacancy 5.00% · expense 45.00%

    Alternative Use Scenarios

    Best Use
    Apartment 5plus
    $1.17M
    $1.02M – $1.37M (±1% cap)
    NOI $81,918 @ 7.0% cap · market cap 7.80%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Specialty Retail
    $8.08M
    $7.07M – $9.43M (±1% cap)
    NOI $565,591 @ 7.0% cap · market cap 53.87%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Goldsboro
    County
    Wayne
    State
    North Carolina
    Longitude
    -78.00301
    Latitude
    35.380339

    Nearby Similar for Sale

    • $215,000
      572 SF

      Goldsboro Restaurant with Parking Lot

      Fully operational restaurant with equipment, building, and parking lot.
      415 S John Street, Goldsboro, NC 27530
      View Details
    • $159,900
      1,400 SF

      Goldsboro Commercial Property For Sale

      Versatile commercial property in downtown Goldsboro suitable for various business uses.
      121 N James Street, Goldsboro, NC 27530
      View Details
    • $995,000
      4,650 SF

      Established Medical Offices For Sale

      Medical offices at busy intersection, could convert to business offices.
      2902 Central Heights Rd, Goldsboro, NC 27534
      View Details
    • $215,000
      572 SF

      Quick Serve Food Stand Opportunity

      Fully equipped, operational walk-up restaurant near Wayne County courthouse.
      415 John St, Goldsboro, NC 27530
      View Details
    • $168,500
      1,491 SF

      Goldsboro Commercial Property For Sale

      Commercial property near downtown Goldsboro with recent updates and ample parking.
      401 N James Street, Goldsboro, NC 27530
      View Details
    • $425,000
      2,370 SF

      Goldsboro Retail Plaza For Sale

      Two-tenant plaza with hair salon and redevelopment potential in Goldsboro.
      698 E New Hope Road, Goldsboro, NC 27534
      View Details
    • $990,000
      6,537 SF

      Goldsboro Retail Building For Sale

      Retail building on a 1.18-acre lot in Goldsboro, NC.
      1406 W Gramtham Street, Goldsboro, NC 27530
      View Details
    • Sponsored
      $89,000
      1,107 SF

      414 South John Street, Goldsboro, NC 27530

      Adaptable commercial space suitable for retail, office, or automotive businesses.
      414 South John St, Goldsboro, NC 27530
      View Details
    • $700,000
      2,952 SF

      Automotive Shop on Berkeley Boulevard

      Automotive shop with 5 bays on Berkeley Boulevard.
      512 N Berkeley Boulevard, Goldsboro, NC 27534
      View Details
    • $1,100,000
      11,455 SF

      Goldsboro Mixed-Use Investment Opportunity

      Recently renovated mixed-use property in downtown Goldsboro with income potential.
      205-207 E Walnut Street, Goldsboro, NC 27530
      View Details
    • $825,000
      4,200 SF

      Medical Office Near UNC Health

      Former psychiatrist office for sale near UNC Health Wayne.
      2805 Mclamb Place, Goldsboro, NC 27534
      View Details
    • $800,000
      5,114 SF

      Dental Office in Wayne Center

      Dental office available in a medical center setting.
      2300 Wayne Memorial Drive F, Goldsboro, NC 27534
      View Details

    FAQs

    What type of property is this?
    Apartment building - 18-unit multifamily property in Goldsboro, North Carolina, near Raleigh.
    Where is this apartment building located?
    The property is located at 306 W Pine St Goldsboro, NC.
    What is the asking price?
    The asking price for this property is $1,050,000.
    What are key features of this property?
    This property features: 18‑unit multifamily property with a stable tenant base.; Prime location near Seymour Johnson Air Force Base, a major employer.; Walking distance to Downtown Goldsboro's amenities.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Matthew Rice
    Real Estate License ID: NC #337472
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    306 W Pine St, Goldsboro, NC 27530
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!