Renewed Absolute NNN
New
For Sale
$2,800,000
420 E New Hope Rd, Goldsboro, NC 27534
Long-term lease structure includes scheduled rent escalations and a tenant affiliated with 7-Eleven, Inc.
Property Size2,106 SF
Days on Market3
Property Features for 420 E New Hope Rd
General Information
Standard status
Active
Size
2,106 SF
Property subtype
Retail
Building Details
Building Size
2,106 SF
Tenancy
Single
Listing Agency:
CP Partners
(415) 274-2715
Listed By:
John Andreini · License #CalDRE #01440360
Source:
Cppcre
Added: Aug 16
Changed: Aug 17
Last Checked: Aug 18 at 5:04AM
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 CP Partners
Investment Insights
Based on property information with market context.
Located at 420 E New Hope Rd in Goldsboro, NC, this NNN property has undergone renewal and is subject to a 15-year absolute net lease. The agreement provides for 10% rental increases at five-year intervals during the base term and option periods.
The tenant is a wholly owned subsidiary of 7-Eleven, Inc. 7-Eleven, Inc. is ranked #162 on the Fortune Global 500 list and carries an “A” investment-grade credit rating from S&P.
The tenant is a wholly owned subsidiary of 7-Eleven, Inc. 7-Eleven, Inc. is ranked #162 on the Fortune Global 500 list and carries an “A” investment-grade credit rating from S&P.
Key Highlights
- Renewed 15‑year absolute net lease
- 10% rental increases every 5 years throughout the base term and options
- Tenant is a wholly owned subsidiary of 7‑Eleven, Inc.
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
$118,521
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
4.23%
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%
$2,370,420
$2.4M
Cap Rate 7%
$1,693,157
$1.7M
Cap Rate 9%
$1,316,900
$1.3M
Market Conditions
NOI Build-Up for 2,106 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
$162.2K $77.04/SF
− Vacancy
−$4.2K −$2.00/SF
EGI
$158.0K $75.04/SF
− OpEx
−$39.5K −$18.76/SF
NOI
$118.5K $56.28/SF
Area
Wayne County, NC
Vacancy
2.60%
Lease Rate
$77.04 /SF/Yr
Expense Ratio
25.00%
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%
$2,370,420
Cap Rate 7%
$1,693,157
Cap Rate 9%
$1,316,900
Alternative Uses
Best Use
Specialty Retail
$1.69M
$1.48M – $1.98M
NOI $118,521 @ 7.0% cap · market cap 4.23%
Second Best
Retail
$369.2K
$323.1K – $430.8K
NOI $25,846 @ 7.0% cap · market cap 0.92%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
109
Businesses Nearby
31k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 63%
Shops & Services 37%
Food Lion Grocery Store
Groceries
19,754 visits/mo
0.3 miles
Speedway
Shops & Services
7,853 visits/mo
0.1 miles
Family Dollar
Shops & Services
3,777 visits/mo
0.3 miles
Demographics for 27534, NC
30,844
Population
15,158
Households
2
Avg Household Size
38
Median Age
29%
College-Educated
91%
High-School Grad
73.1 sq mi
ZIP Area
422
Density / Sq Mi
$59,950
Median Household Income
$39,686
Median Earnings
$1,106
Median Rent
$187,700
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
NNN property - Long-term lease structure includes scheduled rent escalations and a tenant affiliated with 7-Eleven, Inc.
Where is this nnn property located?
The property is located at 420 E New Hope Rd Goldsboro, NC.
What is the asking price?
The asking price for this property is $2,800,000.
What are key features of this property?
This property features: Renewed 15‑year absolute net lease; 10% rental increases every 5 years throughout the base term and options; Tenant is a wholly owned subsidiary of 7‑Eleven, Inc.
