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    Automotive Storage and Light Industrial Title is generated by Realmo AI

    3802 West Vernon Avenue, Kinston, NC 28504

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    For Sale
    $599,000

    Corner commercial lot offering vehicle storage and light industrial space at a busy intersection on US-258.

    Type:Commercial Sale / Mixed Use
    Property size:
    8,062 SF
    Lot size:
    3.58 Acres
    Price / SF:
    $74/SF
    Added:
    May 31, 2026
    Days on Market:
    8
    Last Refresh:
    Jun 6 at 2:10 am

    Property Features for 3802 West Vernon Avenue

    General Information

    Standard status
    Active
    Size
    8,062 SF
    Lot size
    3.58 Acres
    Property subtype
    Commercial Sale / Mixed Use

    Building Details

    Year Built
    1960

    We can help!

    Listing Contact
    Michelle Waite

    Listing agent Michelle Waite License #357092

    Listing office Century 21 Triangle Group

    Listing date May 31, 2026

    Source Compass

    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

    HighLights

    • 3.58‑acre corner commercial property with 8,062 SF at the intersection of W Vernon Ave (US‑258) and Monroe St in Kinston, NC
    • Approximately 18,500 vehicles pass through each day on US‑258 (per provided remarks)
    • Currently used as short‑term vehicle storage; prior uses included an auto repair shop
    • Single‑story commercial building with utilities connected: sewer connected and water connected
    • Aluminum siding exterior and aluminum siding construction materials
    • Property includes heating and cooling (per provided interior features)

    Overview

    This offering consists of approximately 8,062 square feet on 3.58 acres, configured for vehicle-related operations and flexible commercial use. The property is currently used for short-term vehicle storage for a local funeral home. Prior uses include an auto repair shop, supporting a practical fit for automotive services, storage, or other light industrial applications where outdoor space matters.

    The site is located at the intersection of W Vernon Avenue (US-258) and Monroe Street, positioned along a high-visibility commercial corridor. Public remarks cite approximately 18,500 vehicles passing through each day, providing consistent daily exposure. The location is also described as offering convenient connectivity to major regional routes, including proximity to US-70 and access to Goldsboro, New Bern, and Greenville.

    For buyers and owner-operators, the combination of interior space and generous lot area supports a range of operating models, including office, storage, light industrial use, or potential redevelopment. The vehicle storage orientation and prior automotive use history make it well-suited for an owner who wants to control operations on a tract sized for both building footprint and outdoor activity.
    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.

    Location Insight

    • Map
    • Local Demand
    City
    Kinston
    County
    Lenoir
    State
    North Carolina
    Longitude
    -77.6406861
    Latitude
    35.2622213

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    FAQs

    What type of property is this?
    Flex space - Corner commercial lot offering vehicle storage and light industrial space at a busy intersection on US-258.
    Where is this flex space located?
    The property is located at 3802 West 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 corner commercial property with 8,062 SF at the intersection of W Vernon Ave (US‑258) and Monroe St in Kinston, NC; Approximately 18,500 vehicles pass through each day on US‑258 (per provided remarks); Currently used as short‑term vehicle storage; prior uses included an auto repair shop
    (919) 230-1525
    We can help!
    Listing Contact
    Michelle Waite
    Real Estate License ID: 357092
    Learn More
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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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