Mixed-Use Property with Retail
502 E Main St, Havelock, NC 28532
For Sale
Contact for pricing
Commercial space occupies the first floor, with two residential units above and plans to combine the commercial units.
Property Size3,840 SF
Lot Size0.23 Acres
Price / SF$123.70
Days on Market40
Property Features for 502 E Main St
General Information
Standard status
Size
Lot size
Property subtype
Net Operating Income
Additional Details
Mixed-Use Components
Multifamily Units
Building Details
Tenancy
Listing Agency:
Maus, Warwick, Matthews & Co.
(910) 791-0400
Listed By:
Jack Balland · License #360626
(910) 431-1821
Source:
Moodyscre
Added: Oct 1
Changed: Nov 7
Last Checked: Nov 8 at 6:37AM
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 Maus, Warwick, Matthews & Co.
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Investment Insights
Based on property information with market context.
This mixed-use building contains approximately 3,840 square feet on a roughly 0.23-acre site. Its first floor has two commercial units, while the second floor contains two residential units. The commercial spaces are expected to be combined into a single retail unit; that consolidation is a future plan, not a stated completed improvement.
The property is located at 502 E Main St in Havelock, North Carolina. Its configuration brings residential and commercial space together within one building.
The property is located at 502 E Main St in Havelock, North Carolina. Its configuration brings residential and commercial space together within one building.
Key Highlights
- Approximately 3,840 square feet on a 0.23‑acre site
- Two commercial units on the first floor are expected to be combined into one retail space
- Two residential units occupy the second floor
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$38,880
Cap Rate
8.19%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$777,600
$777.6K
Cap Rate 7%
$555,429
$555.4K
Cap Rate 9%
$432,000
$432.0K
Market Conditions
NOI Build-Up for 3,840 SF
Gross rent
$69.1K $18.00/SF
− Vacancy
−$6.9K −$1.80/SF
EGI
$62.2K $16.20/SF
− OpEx
−$23.3K −$6.07/SF
NOI
$38.9K $10.13/SF
Area
Craven County, NC
Vacancy
10.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$777,600
Cap Rate 7%
$555,429
Cap Rate 9%
$432,000
Alternative Uses
Best Use
Retail
$1.08M
$948.4K – $1.26M
NOI $75,870 @ 7.0% cap · market cap 15.97%
Second Best
Mixed Use
$555.4K
$486.0K – $648.0K
NOI $38,880 @ 7.0% cap · market cap 8.19%
Theoretical Best
Office A
$1.27M
$1.11M – $1.48M
NOI $88,622 @ 7.0% cap · market cap 18.66%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
307
Businesses Nearby
18k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 51%
Shops & Services 46%
Hotels & Casinos 3%
Taco Bell
Dining
9,440 visits/mo
0.2 miles
Speedway
Shops & Services
7,008 visits/mo
0.1 miles
Carquest Auto Parts
Shops & Services
990 visits/mo
0.5 miles
Budget Inn
Hotels & Casinos
572 visits/mo
0.5 miles
Enterprise Rent-A-Car
Shops & Services
459 visits/mo
0.1 miles
Demographics for 28532, NC
20,340
Population
8,677
Households
2.3
Avg Household Size
33
Median Age
19%
College-Educated
93%
High-School Grad
165.4 sq mi
ZIP Area
123
Density / Sq Mi
$65,772
Median Household Income
$38,839
Median Earnings
$1,270
Median Rent
$193,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercial space occupies the first floor, with two residential units above and plans to combine the commercial units.
Where is this mixed-use property located?
The property is located at 502 E Main St Havelock, NC.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Approximately 3,840 square feet on a 0.23‑acre site; Two commercial units on the first floor are expected to be combined into one retail space; Two residential units occupy the second floor
