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    Multi-Use Office Suite Title is generated by Realmo AI

    4110 Dr. Martin Luther King Boulevard, New Bern, NC 28562

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    New
    For Lease
    $4,230/Mo $12 SF/Yr (calc)

    COMMERCIAL - New Bern, NC

    Property size:
    4,200 SF
    Lot size:
    1.63 Acres
    Added:
    Jun 5, 2026
    Days on Market:
    2
    Last Refresh:
    Jun 6 at 1:06 pm

    Property Features for 4110 Dr. Martin Luther King Boulevard

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Zoning
    C-3
    Parking
    50
    Standard status
    Active
    APN
    8-211 -5000
    Size
    4,200 SF
    Lot size
    1.63 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    TRENT RD
    Expense value
    4230
    Expense
    SecurityDeposit
    Expense freq.
    One Time

    Utilities

    Heating system
    Heat Pump (Heating), Electric (Heating)
    Cooling system
    Central Air

    Building Details

    Year built
    1988
    Number of units
    8
    Flooring type
    Carpet, Vinyl

    We can help!

    Listing Contact
    CHUCK TYSON

    Listing agent CHUCK TYSON License #23506

    Listing office TYSON AND HOOKS P.O. BOX 626, New Bern, NC

    Listing date Jun 5, 2026

    MLS# 100579324

    Copyright © 2026 Hive 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

    • Approximately 4,200 SF commercial space in the Greenleaf Shopping Center on Highway 17 South in New Bern, NC
    • Available for lease starting July 1, 2026 with a minimum 3‑year lease required
    • Zoned C‑3 and suited for uses such as medical office, dental practice, fitness/wellness, or general/professional office
    • Includes approximately 20 shared parking spaces
    • Utilities: Duke Energy electric; City of New Bern water and sewer
    • No Common Area Maintenance (CAM) fees included in the rental rate

    Overview

    The available space is approximately 4,200 square feet within the Greenleaf Shopping Center, offered for lease with an available start date of July 1, 2026. The listing notes a minimum of a 3-year lease requirement and identifies the space as suitable for a range of professional and business uses, including medical office, dental practice, and fitness or wellness studio, as well as general business or professional office.

    The suite is positioned along the Highway 17 South corridor in New Bern, NC, with access supported by approximately 20 shared parking spaces for the shopping center. The property is zoned C-3. Utility providers listed include Duke Energy for electricity and the City of New Bern for water and sewer, and the rental rate does not include CAM (Common Area Maintenance) fees.

    For tenants and operators, the combination of C-3 zoning, shared shopping center parking, and a layout designed for professional uses can fit medical, wellness, or office requirements. The stated CAM structure and minimum lease term also support planning for longer-term occupancy within the Greenleaf Shopping Center.
    Property Profile Location Intelligence

    Current Use by Public Records

    Medical Office Space

    Map

    City
    New Bern
    County
    Craven
    State
    North Carolina
    Longitude
    -77.120289
    Latitude
    35.095431

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    FAQs

    What type of property is this?
    Medical Office Space - Versatile suite in Greenleaf Shopping Center with shared parking and C-3 zoning, available for lease starting July 1, 2026.
    Where is this medical office space located?
    The property is located at 4110 Dr. Martin Luther King Boulevard New Bern, NC.
    What is the lease rate?
    The lease rate is $4,230 /Mo.
    What are key features of this property?
    This property features: Approximately 4,200 SF commercial space in the Greenleaf Shopping Center on Highway 17 South in New Bern, NC; Available for lease starting July 1, 2026 with a minimum 3‑year lease required; Zoned C‑3 and suited for uses such as medical office, dental practice, fitness/wellness, or general/professional office
    (252) 670-5230
    We can help!
    Listing Contact
    CHUCK TYSON
    Real Estate License ID: 23506
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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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