Havelock Specialty Building For
For Sale
$194,000
508 Main St, Havelock, NC 28532
508 E Main St - 2,118 SF Specialty Building Offered at $210,000 in Havelock, NC 28532
Property Size2,118 SF
Lot Size0.31 Acres
Price / SF$91.60
Days on Market119
Property Features for 508 Main St
General Information
Standard status
Active
Property type
Automotive properties, Car washes, Retail properties & Spaces
Size
2,118 SF
Class
C
Lot size
0.31 Acres
Investment Type
Owner User
Building Details
Year Built
1975
Year Renovated
2010
Stories
1
Listing Agency:
(910) 729-9180
Listed By:
Tim
(910) 729-9180
Added: May 4
Investment Insights
Based on property information with market context.
This 2,118 square foot specialty building is located in Havelock, North Carolina. Situated in a busy commercial hub, the property offers adaptability for various business uses, including a retail storefront, professional office, or creative flex space. The lot size is 0.31 acres. The building had a new roof installed in 2019. The list price is $194,000.
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
$13,763
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
7.09%
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%
$275,260
$275.3K
Cap Rate 7%
$196,614
$196.6K
Cap Rate 9%
$152,922
$152.9K
Market Conditions
NOI Build-Up for 2,118 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
$21.1K $9.96/SF
− Vacancy
−$1.4K −$0.68/SF
EGI
$19.7K $9.28/SF
− OpEx
−$5.9K −$2.78/SF
NOI
$13.8K $6.50/SF
Area
Craven County, NC
Vacancy
6.80%
Lease Rate
$9.96 /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%
$275,260
Cap Rate 7%
$196,614
Cap Rate 9%
$152,922
Alternative Uses
Best Use
Retail
$597.8K
$523.1K – $697.5K
NOI $41,847 @ 7.0% cap · market cap 21.57%
Second Best
Specialty Retail
$391.3K
$342.4K – $456.5K
NOI $27,392 @ 7.0% cap · market cap 14.12%
Theoretical Best
Office A
$698.3K
$611.0K – $814.7K
NOI $48,881 @ 7.0% cap · market cap 25.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
307
Businesses Nearby
18k
Monthly Visits Nearby
Under-served
Demand for This Use
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
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Similar Off Market Nearby
- Enterprise Rent-A-Car — 501 E Main St, Havelock, NC 28532
Frequently Asked Questions
What type of property is this?
Automotive property - 508 E Main St - 2,118 SF Specialty Building Offered at $210,000 in Havelock, NC 28532
Where is this automotive property located?
The property is located at 508 Main St Havelock, NC.
What is the asking price?
The asking price for this property is $194,000.
