10-Unit Retail Strip
For Sale
$1,390,000
Pending
4784 E Us 70 Highway, Goldsboro, NC 27534
Commercial Sale, Goldsboro, NC
Property Size16,160 SF
Lot Size1.92 Acres
Days on Market759
Property Features for 4784 E Us 70 Highway
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Rural AR
Parking
35
Lot features
Open Lot
Directions
Head east on Hwy 70 from Goldsboro towards La Grange. Proceed east .7 miles from intersection of HWY 111 and HWY 70 East and building is on the right.
Standard status
Pending
APN
28802019
Size
16,160 SF
Lot size
1.92 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
E US 70 HY, 4794 E US 70 HY
Legal Description
E US 70 HY, 4794 E US 70 HY
Utilities
Utilities
Water Available
Sewer type
Septic Tank
Heating system
Heat Pump (Heating), Electric (Heating)
Cooling system
Central Air, Heat Pump
Water source
Public
Building Details
Year built
1997
Number of units
10
Flooring type
Concrete, Carpet, Vinyl
Building materials
Brick, Steel Siding, Brick/Stone, Steel Frame
Roof type
Metal
Listing Agency:
Fonville Morisey Realty
(919) 785-4201
Listed By:
Frank J Gombatz · License #165324
(919) 785-4201
Added: Jul 23, 2024
Changed: Aug 19
Last Checked: Aug 20 at 2:06AM
MLS# 100457245
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.
Investment Insights
Based on property information with market context.
This 16,160-square-foot strip mall contains 10 retail and flex units, with layouts that can remain separate or be combined into larger spaces. Interior configurations vary, including one unit with an existing kitchen area and another with unfinished industrial space. Concrete, carpet, and vinyl flooring are present, with electric and heat-pump systems, central air, and a metal roof. The building was constructed in 1997.
Located at 4784 E US 70 Highway in Goldsboro, the property sits on 1.92 acres along US 70. A front parking area provides 35 spaces, while additional land behind the building may accommodate further structures or parking. The site has Rural AR zoning, public water, and a septic tank. The property is currently 50% leased.
Located at 4784 E US 70 Highway in Goldsboro, the property sits on 1.92 acres along US 70. A front parking area provides 35 spaces, while additional land behind the building may accommodate further structures or parking. The site has Rural AR zoning, public water, and a septic tank. The property is currently 50% leased.
Key Highlights
- 10‑unit retail/flex strip mall totaling 16160 square feet
- 1.92 acres along 4784 E Us 70 Highway, Goldsboro, NC 27534
- Individual suites can be combined into larger groupings
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
$72,113
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
5.19%
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%
$1,442,260
$1.4M
Cap Rate 7%
$1,030,186
$1.0M
Cap Rate 9%
$801,256
$801.3K
Market Conditions
NOI Build-Up for 16,160 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
$110.5K $6.84/SF
− Vacancy
−$7.5K −$0.47/SF
EGI
$103.0K $6.37/SF
− OpEx
−$30.9K −$1.91/SF
NOI
$72.1K $4.46/SF
Area
Wayne County, NC
Vacancy
6.80%
Lease Rate
$6.84 /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%
$1,442,260
Cap Rate 7%
$1,030,186
Cap Rate 9%
$801,256
Alternative Uses
Best Use
Flex RnD
$10.52M
$9.20M – $12.27M
NOI $736,398 @ 7.0% cap · market cap 52.98%
Second Best
Office B
$3.01M
$2.63M – $3.51M
NOI $210,481 @ 7.0% cap · market cap 15.14%
Theoretical Best
Specialty Retail
$12.99M
$11.37M – $15.16M
NOI $909,448 @ 7.0% cap · market cap 65.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
50%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
33
Businesses Nearby
Explore this area
Business Placement
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 Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Strip mall - Flexible suite configurations accommodate retail, office, medical, religious, and distribution-oriented occupants.
Where is this strip mall located?
The property is located at 4784 E Us 70 Highway Goldsboro, NC.
What is the asking price?
The asking price for this property is $1,390,000.
What are key features of this property?
This property features: 10‑unit retail/flex strip mall totaling 16160 square feet; 1.92 acres along 4784 E Us 70 Highway, Goldsboro, NC 27534; Individual suites can be combined into larger groupings
