Building Details

Building Size 8,246 SF

Year Built 1974

Properties For Sale

at 3498 Martin Dr

Suite B

Size 8,246 SF

Term Negotiable

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Listing Agency: SVN | Efird Commercial Real Estate

Listed By: Josh Taylor · License #NC #318210 Show Phone

Source: Svnefird

Added: Oct 19 Last Checked: Oct 19 at 2:32PM

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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 SVN | Efird Commercial Real Estate

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Investment Insights

Based on property information with market context.

This flex warehouse at 3498 Martin Dr in New Bern contains approximately 8,246 SF. The interior includes a small office and one bathroom, with two grade-level drive-in overhead doors for access to the warehouse area. Three-phase power is available, and the property was built in 1974.

The site is zoned I-1. The facility’s flex configuration and existing features support warehouse, production, storage, or service operations.

Key Highlights

• Approximately 8,246 SF of flex warehouse space
• Two grade‑level drive‑in overhead doors
• Three‑phase power available

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$53,582

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,071,640 $1.1M

Cap Rate 7%

$765,457 $765.5K

Cap Rate 9%

$595,356 $595.4K

What to ask about pricing

Market Conditions

NOI Build-Up for 8,246 SF

Gross rent

$82.1K $9.96/SF

− Vacancy

−$5.6K −$0.68/SF

EGI

$76.5K $9.28/SF

− OpEx

−$23.0K −$2.78/SF

NOI

$53.6K $6.50/SF

Area

Craven County, NC

Vacancy

6.80%

Lease Rate

$9.96 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,071,640

Cap Rate 7%

$765,457

Cap Rate 9%

$595,356

Alternative Uses

Best Use

Flex RnD

$1.30M

$1.14M – $1.52M (±1% cap)

NOI $91,285 @ 7.0% cap · market cap 912,850.00%

Second Best

Warehouse

$928.2K

$812.1K – $1.08M (±1% cap)

NOI $64,971 @ 7.0% cap · market cap 649,710.00%

Theoretical Best

Office A

$2.72M

$2.38M – $3.17M (±1% cap)

NOI $190,307 @ 7.0% cap · market cap 1,903,070.00%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Inner Strength, LLC Gym & Fitness Center Sunspring America Home Decor Store

Suggested Use

Top Pick Storage Facility Electrical Service Building Supply Kitchen & Bath Showroom Grocery & Convenience Store Plumbing Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Drive-in doors

Location Intelligence

Trade Area within ½ mile

1,290

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 28562, NC

39,375

Population

18,812

Households

2.1

Avg Household Size

45

Median Age

33%

College-Educated

93%

High-School Grad

151.7 sq mi

ZIP Area

260

Density / Sq Mi

$74,620

Median Household Income

$40,215

Median Earnings

$1,131

Median Rent

$246,400

Median Home Value

Market

Vacancy Rate% for Industrial in South region

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - I-1-zoned flex space includes grade-level loading access, three-phase power, and an office area.

Where is this flex space located?

The property is located at 3498 Martin Dr New Bern, NC.

What are key features of this property?

This property features: Approximately 8,246 SF of flex warehouse space; Two grade‑level drive‑in overhead doors; Three‑phase power available