Former Bank Office
3111 S Memorial Dr Greenville, NC 27834
For Sale
Contact for pricing
Former bank office building with street-facing frontage, dual access, and on-site parking on nearly an acre.
Property Size5,220 SF
Lot Size0.96 Acres
Price / SF$177.20
Days on Market37
Property Features for 3111 S Memorial Dr
General Information
Standard status
Active
Size
5,220 SF
Lot size
0.96 Acres
Property subtype
OFFICE
Listing Agency:
The Overton Group
(252) 292-3487
Listed By:
Andrew Denton · License #278747
(252) 292-3487
Source:
Moodyscre
Added: Jun 24
Changed: Jul 28
Last Checked: Jul 29 at 1:32PM
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 The Overton Group
Investment Insights
Based on property information with market context.
3111 S Memorial Drive is a former bank office building totaling 5,220 square feet on a 0.96-acre site. The property includes street-facing frontage along S Memorial Drive, with dual access and on-site parking to support day-to-day visitor and staff traffic.
The building is located just north of the Greenville Blvd and Memorial Drive intersection along one of Greenville’s busiest commercial corridors. The surrounding area includes dense retail and hospitality activity, and the property is minutes from East Carolina University and ECU Health Medical Center.
This configuration offers a dedicated office setting within a larger commercial retail environment, supported by the site’s prominent Memorial Drive positioning and multiple points of access.
The building is located just north of the Greenville Blvd and Memorial Drive intersection along one of Greenville’s busiest commercial corridors. The surrounding area includes dense retail and hospitality activity, and the property is minutes from East Carolina University and ECU Health Medical Center.
This configuration offers a dedicated office setting within a larger commercial retail environment, supported by the site’s prominent Memorial Drive positioning and multiple points of access.
Key Highlights
- 5,220 SF former bank building on a 0.96‑acre lot with street‑facing frontage on S Memorial Drive
- Dual access from S Memorial Drive plus on‑site parking
- Located just north of the Greenville Blvd and S Memorial Drive intersection (Greenville Blvd 32,500+ VPD; Memorial Drive 22,500+ VPD)
Financial Insights For Office B
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $90.8k | $17.40 |
| − Vacancy | −$15.9k | −$3.05 |
| EGI | $74.9k | $14.35 |
| − OpEx | −$18.7k | −$3.59 |
| NOI | $56.2k | $10.77 |
5,220 SF · lease $17.40/SF/yr · vacancy 17.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$802.9K
$702.5K – $936.7K
NOI $56,200 @ 7.0% cap · market cap 6.08%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.14M
$994.3K – $1.33M
NOI $79,543 @ 7.0% cap · market cap 8.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Office building - Former bank office building with street-facing frontage, dual access, and on-site parking on nearly an acre.
Where is this office building located?
The property is located at 3111 S Memorial Dr Greenville, NC.
What is the asking price?
The asking price for this property is $925,000.
What are key features of this property?
This property features: 5,220 SF former bank building on a 0.96‑acre lot with street‑facing frontage on S Memorial Drive; Dual access from S Memorial Drive plus on‑site parking; Located just north of the Greenville Blvd and S Memorial Drive intersection (Greenville Blvd 32,500+ VPD; Memorial Drive 22,500+ VPD)
