Commercial Land with Existing
For Sale
$999,000
441 Kinston Hwy, Richlands, NC 28574
HB-zoned commercial property with a paved parking area and an approved site plan for a strip mall concept.
Property Size4,581 SF
Price / SF$218.07
Days on Market39
Property Features for 441 Kinston Hwy
General Information
Standard status
Active
Size
4,581 SF
Building Details
Year Built
1970
Listing Agency:
Better Homes and Gardens Real Estate Treasure 4
(919) 649-0827
Listed By:
John Newton · License #294169
Source:
Bradberrygarnerrealestate
Added: Jul 21
Changed: Aug 28
Last Checked: Aug 28 at 3:52AM
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 Better Homes and Gardens Real Estate Treasure 4
Investment Insights
Based on property information with market context.
Located at 441 Kinston Hwy in Richlands, North Carolina, the property includes a 4,581-square-foot building on a 2.3-acre parcel. The site is zoned HB and includes a large paved parking area. Constructed in 1970, the building was formerly used as a Moose Lodge.
The property sits along Kinston Highway with approximate traffic counts of 20,000 vehicles per day. An approved site plan supports a strip mall concept designed for multiple businesses, providing an established framework for future redevelopment. The existing building and paved site improvements remain in place for continued commercial use or reconfiguration.
The property sits along Kinston Highway with approximate traffic counts of 20,000 vehicles per day. An approved site plan supports a strip mall concept designed for multiple businesses, providing an established framework for future redevelopment. The existing building and paved site improvements remain in place for continued commercial use or reconfiguration.
Key Highlights
- 2.3‑acre commercial parcel with a 4,581 sq. ft. building
- HB zoning supports the existing commercial property classification
- Large paved parking area on site
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
$42,482
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
4.25%
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%
$849,640
$849.6K
Cap Rate 7%
$606,886
$606.9K
Cap Rate 9%
$472,022
$472.0K
Market Conditions
NOI Build-Up for 4,581 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
$66.0K $14.40/SF
− Vacancy
−$5.3K −$1.15/SF
EGI
$60.7K $13.25/SF
− OpEx
−$18.2K −$3.97/SF
NOI
$42.5K $9.27/SF
Area
Onslow County, NC
Vacancy
8.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
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%
$849,640
Cap Rate 7%
$606,886
Cap Rate 9%
$472,022
Alternative Uses
Best Use
Retail
$606.9K
$531.0K – $708.0K
NOI $42,482 @ 7.0% cap · market cap 4.25%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$995.2K
$870.8K – $1.16M
NOI $69,661 @ 7.0% cap · market cap 6.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
63
Businesses Nearby
Explore this area
Business Placement
Demographics for 28574, NC
18,689
Population
8,055
Households
2.3
Avg Household Size
32
Median Age
20%
College-Educated
94%
High-School Grad
124.0 sq mi
ZIP Area
151
Density / Sq Mi
$66,555
Median Household Income
$38,605
Median Earnings
$1,123
Median Rent
$204,500
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Commercial land - HB-zoned commercial property with a paved parking area and an approved site plan for a strip mall concept.
Where is this commercial land located?
The property is located at 441 Kinston Hwy Richlands, NC.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: 2.3‑acre commercial parcel with a 4,581 sq. ft. building; HB zoning supports the existing commercial property classification; Large paved parking area on site
