Flex Space Package with
For Sale
$4,500,000
312 Herring Ave E, Wilson, NC 27893
IMX-zoned commercial package combining warehouse, office, and land components across multiple parcels.
Property Size34,000 SF
Price / SF$132.35
Days on Market62
Property Features for 312 Herring Ave E
General Information
Standard status
Active
Size
34,000 SF
Building Details
Year Built
1944
Listing Agency:
Green Valley Realty
Listed By:
Abder Allan, Denise Allan · License #9860305
(252) 292-0615
Source:
Barefootbrokers
Added: Aug 14
Changed: Oct 9
Last Checked: Oct 7 at 4:15PM
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 Green Valley Realty
Investment Insights
Based on property information with market context.
This flex-space package combines an approximately 35,000-square-foot warehouse with second-floor office space, additional office space, and separate land parcels. The included properties total just over 3 acres and contain six units across multiple Herring Avenue and Pender Street locations. The warehouse at 312 Herring Avenue was built in 1944 and is currently leased month-to-month, with the option to deliver it vacant. Other components include a 1,350-square-foot building, a 1,682-square-foot building, and a 6,440-square-foot building, along with land parcels ranging from .21 to .76 acres.
The properties carry IMX zoning and are positioned within walking distance of City Hall, downtown Wilson, Whirligig Park, and the stadium. Several building and land components are leased month-to-month, providing a mixed portfolio of occupied and land-based assets.
The properties carry IMX zoning and are positioned within walking distance of City Hall, downtown Wilson, Whirligig Park, and the stadium. Several building and land components are leased month-to-month, providing a mixed portfolio of occupied and land-based assets.
Key Highlights
- Approximately 35k Sq Ft warehouse with second‑floor office space at 312 Herring
- Six‑unit package spanning multiple Herring Avenue and Pender Street properties
- Just over 3 acres combined across building and land parcels
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$298,350
Cap Rate
6.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,967,000
$6.0M
Cap Rate 7%
$4,262,143
$4.3M
Cap Rate 9%
$3,315,000
$3.3M
Market Conditions
NOI Build-Up for 34,000 SF
Gross rent
$510.0K $15.00/SF
− Vacancy
−$51.0K −$1.50/SF
EGI
$459.0K $13.50/SF
− OpEx
−$160.7K −$4.73/SF
NOI
$298.4K $8.78/SF
Area
Wilson County, NC
Vacancy
10.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,967,000
Cap Rate 7%
$4,262,143
Cap Rate 9%
$3,315,000
Alternative Uses
Best Use
Office B
$6.12M
$5.36M – $7.14M
NOI $428,400 @ 7.0% cap · market cap 9.52%
Second Best
Flex RnD
$4.26M
$3.73M – $4.97M
NOI $298,350 @ 7.0% cap · market cap 6.63%
Theoretical Best
Office A
$8.16M
$7.14M – $9.52M
NOI $571,233 @ 7.0% cap · market cap 12.69%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
729
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 27893, NC
37,131
Population
18,383
Households
2
Avg Household Size
41
Median Age
15%
College-Educated
79%
High-School Grad
109.0 sq mi
ZIP Area
341
Density / Sq Mi
$40,180
Median Household Income
$31,197
Median Earnings
$894
Median Rent
$153,000
Median Home Value
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Market
Vacancy Rate% for Office in South region
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Similar Off Market Nearby
- Howell's Unique Catering Services — Wilson, NC 27893, United States
- MoonRunners Food Truck — 217 South St S, Wilson, NC 27893, United States
Frequently Asked Questions
What type of property is this?
Flex space - IMX-zoned commercial package combining warehouse, office, and land components across multiple parcels.
Where is this flex space located?
The property is located at 312 Herring Ave E Wilson, NC.
What is the asking price?
The asking price for this property is $4,500,000.
What are key features of this property?
This property features: Approximately 35k Sq Ft warehouse with second‑floor office space at 312 Herring; Six‑unit package spanning multiple Herring Avenue and Pender Street properties; Just over 3 acres combined across building and land parcels
