Retail and Medical Office
For Sale
$725,000
514 Berkeley Boulevard, Goldsboro, NC 27534
For-sale space on a highly visible, highly traveled commercial corridor in Goldsboro.
Property Size1,950 SF
Price / SF$371.79
Days on Market279
Property Features for 514 Berkeley Boulevard
General Information
Standard status
Active
Size
1,950 SF
Property subtype
General Commercial
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$8,026
Amenities
Electric
3
NB
184x88x184x88
Building Details
Year Built
2009
Listing Agency:
The Firm NC
(919) 920-2609
Listed By:
Robert Phillips · License #310043
(919) 920-2609
Source:
Xome
Added: Nov 13, 2025
Changed: Aug 14
Last Checked: Aug 19 at 5:39AM
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 The Firm NC
Investment Insights
Based on property information with market context.
Available for sale at 514 N Berkeley Boulevard in Goldsboro, this retail and office property is positioned for strong day-to-day visibility along a highly traveled corridor. The offering is suited to a range of uses described in the marketing materials, including retail, restaurant, medical, or franchise operations.
The location is near Seymour Johnson Air Force Base and the Berkeley Mall area, with major highway access for convenient customer reach. It is surrounded by established businesses, shopping, and residential neighborhoods, supporting consistent local and commuter traffic through the area.
The location is near Seymour Johnson Air Force Base and the Berkeley Mall area, with major highway access for convenient customer reach. It is surrounded by established businesses, shopping, and residential neighborhoods, supporting consistent local and commuter traffic through the area.
Key Highlights
- For‑sale commercial space at 514 N Berkeley Blvd in Goldsboro, NC.
- Zoned NB.
- Year built: 2009.
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
$23,931
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
3.30%
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%
$478,620
$478.6K
Cap Rate 7%
$341,871
$341.9K
Cap Rate 9%
$265,900
$265.9K
Market Conditions
NOI Build-Up for 1,950 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
$35.1K $18.00/SF
− Vacancy
−$913 −$0.47/SF
EGI
$34.2K $17.53/SF
− OpEx
−$10.3K −$5.26/SF
NOI
$23.9K $12.27/SF
Area
Wayne County, NC
Vacancy
2.60%
Lease Rate
$18.00 /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%
$478,620
Cap Rate 7%
$341,871
Cap Rate 9%
$265,900
Alternative Uses
Best Use
Retail
$341.9K
$299.1K – $398.9K
NOI $23,931 @ 7.0% cap · market cap 3.30%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.57M
$1.37M – $1.83M
NOI $109,742 @ 7.0% cap · market cap 15.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
952
Businesses Nearby
617k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 56%
Shops & Services 31%
Apparel 9%
Home Improvements & Furnishings 2%
Hobby Lobby
Shops & Services
43,972 visits/mo
0.4 miles
Five Below
Shops & Services
40,458 visits/mo
0.3 miles
McDonald's
Dining
39,101 visits/mo
0.2 miles
DICK'S Sporting Goods
Apparel
32,593 visits/mo
0.2 miles
Cook Out
Dining
31,095 visits/mo
0.1 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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail space - For-sale space on a highly visible, highly traveled commercial corridor in Goldsboro.
Where is this retail space located?
The property is located at 514 Berkeley Boulevard Goldsboro, NC.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: For‑sale commercial space at 514 N Berkeley Blvd in Goldsboro, NC.; Zoned NB.; Year built: 2009.
