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    Warehouse and Storage Site Title is generated by Realmo AI

    3802 W Vernon Avenue, Kinston, NC 28504

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    Claim this Listing
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    For Sale
    $599,000

    COMMERCIAL - Kinston, NC

    Property size:
    8,062 SF
    Lot size:
    3.58 Acres
    Price / SF:
    $74/SF
    Added:
    Jun 1, 2026
    Days on Market:
    3
    Last Refresh:
    Jun 3 at 10:06 pm

    Property Features for 3802 W Vernon Avenue

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    B1
    Standard status
    Active
    APN
    450504537146
    Size
    8,062 SF
    Lot size
    3.58 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    3802 W Vernon Av 3802 W Vernon Av
    Tax Annual Amount
    3592

    Building Details

    Year built
    1960
    Floors in Building
    1
    Building materials
    Aluminum Siding

    We can help!

    Listing Contact
    Michelle Waite

    Listing agent Michelle Waite

    Listing office Century 21 Triangle Group 1111 Haynes Street, #109, Raleigh, NC

    Listing date Jun 1, 2026

    MLS# 10171005

    Copyright © 2026 Doorify MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 3.58‑acre commercial site with 8,062 sq ft building area at 3802 W Vernon Ave, Kinston, NC 28504
    • Corner location at the intersection of W Vernon Avenue (US‑258) and Monroe Street
    • Approx. 18,500 vehicles pass by each day on W Vernon Ave, providing high traffic exposure
    • Year built 1960; exterior construction includes aluminum siding
    • On‑site use includes short‑term storage for vehicles; prior use included an auto repair shop
    • Large lot size for building footprint, parking, and outdoor storage or operations

    Overview

    This property offers an 8,062-square-foot warehouse and storage configuration on a 3.58-acre lot, currently used for short-term vehicle storage for a local funeral home. Prior uses have included an auto repair shop, giving the site a practical history for maintenance, storage, and light operational needs. The larger lot size supports a variety of options for building footprint, parking, and outdoor storage or operations.

    Situated at the intersection of W Vernon Avenue (US-258) and Monroe Street in Kinston, the location is positioned for high daily exposure, with approximately 18,500 vehicles passing each day. The site sits along an established commercial corridor that also offers convenient access to retail and services, supporting continuity for a business or investment plan.

    Zoned B1, the property is a strong match for an owner-operator seeking an adaptable base for storage, light industrial activity, or related uses. It may also appeal to investors and redevelopers looking for a larger commercial parcel with warehouse space and room to expand operationally, rather than being limited to a smaller footprint.
    Property Profile Location Intelligence

    Current Use by Public Records

    Everette's Industrial Repair General Contractor

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Building Supply Dental Office Big Box & Wholesale Store Hair Salon Nail Salon Gym & Fitness Center Auto Parts Store

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

    Similar Places Nearby

    • Blizzards Mini Warehouse — 1449 US-258, Kinston, NC 28504

    Location Insight

    • Map
    • Local Demand
    City
    Kinston
    County
    Lenoir
    State
    North Carolina
    Longitude
    -77.640515
    Latitude
    35.262139

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    FAQs

    What type of property is this?
    Warehouse - Own a warehouse-style storage site with strong corridor visibility at a major intersection for flexible owner-occupant use.
    Where is this warehouse located?
    The property is located at 3802 W Vernon Avenue Kinston, NC.
    What is the asking price?
    The asking price for this property is $599,000.
    What are key features of this property?
    This property features: 3.58‑acre commercial site with 8,062 sq ft building area at 3802 W Vernon Ave, Kinston, NC 28504; Corner location at the intersection of W Vernon Avenue (US‑258) and Monroe Street; Approx. 18,500 vehicles pass by each day on W Vernon Ave, providing high traffic exposure
    (919) 230-1525
    We can help!
    Listing Contact
    Michelle Waite
    Request Owner's contact information
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    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.

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