Brick Flex Space with
For Sale
Contact for pricing
312 N Center St, Goldsboro, NC 27530
Front office areas pair with a large open warehouse interior for versatile commercial use.
Property Size10,032 SF
Price / SF$72.27
Days on Market151
Property Features for 312 N Center St
General Information
Standard status
Active
Size
10,032 SF
Class
B
Property subtype
Industrial
Zoning
GB: General Business
Additional Details
Clear Span
Yes
Building Details
Year Built
1937
Buildings
1
Stories
1
Units
1
Building Size
10,032 SF
Construction
brick
Listing Agency:
Century 21 Triangle Group - Flanagan CRE Team
(919) 302-3298
Listed By:
Pat Flanagan · License #295126
Source:
Crexi
Added: Apr 2
Changed: Aug 30
Last Checked: Aug 30 at 3:33PM
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 Century 21 Triangle Group - Flanagan CRE Team
Investment Insights
Based on property information with market context.
Built in 1937, this 10,032-square-foot flex property combines a classic brick exterior with a divided interior designed for multiple commercial functions. Office areas occupy the front portion, providing dedicated space for client-facing or administrative activity, while the rear is configured as a large open-span warehouse suitable for inventory storage or production operations.
The property is located at 312 N Center St in downtown Goldsboro, North Carolina, within the GB: General Business zoning district. Its combination of office buildout, warehouse capacity, historic construction, and central downtown placement supports an owner-user configuration or a renovation-oriented commercial project.
The property is located at 312 N Center St in downtown Goldsboro, North Carolina, within the GB: General Business zoning district. Its combination of office buildout, warehouse capacity, historic construction, and central downtown placement supports an owner-user configuration or a renovation-oriented commercial project.
Key Highlights
- 10,032 SF flex property in downtown Goldsboro
- Built in 1937 with a classic brick exterior
- Front section configured with professional office areas
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
$44,767
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
6.17%
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%
$895,340
$895.3K
Cap Rate 7%
$639,529
$639.5K
Cap Rate 9%
$497,411
$497.4K
Market Conditions
NOI Build-Up for 10,032 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
$68.6K $6.84/SF
− Vacancy
−$4.7K −$0.47/SF
EGI
$64.0K $6.37/SF
− OpEx
−$19.2K −$1.91/SF
NOI
$44.8K $4.46/SF
Area
Wayne County, NC
Vacancy
6.80%
Lease Rate
$6.84 /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%
$895,340
Cap Rate 7%
$639,529
Cap Rate 9%
$497,411
Alternative Uses
Best Use
Flex RnD
$6.53M
$5.71M – $7.62M
NOI $457,150 @ 7.0% cap · market cap 63.06%
Second Best
Office B
$1.87M
$1.63M – $2.18M
NOI $130,665 @ 7.0% cap · market cap 18.02%
Theoretical Best
Specialty Retail
$8.07M
$7.06M – $9.41M
NOI $564,578 @ 7.0% cap · market cap 77.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
902
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 27530, NC
37,470
Population
17,796
Households
2.1
Avg Household Size
41
Median Age
22%
College-Educated
89%
High-School Grad
106.5 sq mi
ZIP Area
352
Density / Sq Mi
$55,507
Median Household Income
$37,696
Median Earnings
$827
Median Rent
$176,500
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.
Frequently Asked Questions
What type of property is this?
Flex space - Front office areas pair with a large open warehouse interior for versatile commercial use.
Where is this flex space located?
The property is located at 312 N Center St Goldsboro, NC.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: 10,032 SF flex property in downtown Goldsboro; Built in 1937 with a classic brick exterior; Front section configured with professional office areas
