Building Details

Year Built 1905

Year Renovated 2025

Building Size 4,423 SF

Tenancy Single

Listing Agency: All About You Realty Team

Listed By: Amy L Oakley · License #215909 Show Phone

Source: Searchgreateraugustahomes

Added: Oct 8 Changed: Oct 10 Last Checked: Oct 10 at 3:06AM

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Investment Insights

Based on property information with market context.

This flex property contains approximately 4,423 square feet and underwent a full renovation in 2025. The building dates to 1905. Its previous occupant has vacated, and the property is available for a new tenant or owner.

Key Highlights

• 4,423‑square‑foot flex property
• Renovated in 2025
• Former tenant has vacated

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$37,620

Cap Rate

8.98%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$752,400 $752.4K

Cap Rate 7%

$537,429 $537.4K

Cap Rate 9%

$418,000 $418.0K

Market Conditions

NOI Build-Up for 4,423 SF

Gross rent

$62.1K $14.04/SF

− Vacancy

−$4.2K −$0.95/SF

EGI

$57.9K $13.09/SF

− OpEx

−$20.3K −$4.58/SF

NOI

$37.6K $8.51/SF

Area

Pitt County, NC

Vacancy

6.80%

Lease Rate

$14.04 /SF/Yr

Expense Ratio

35.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$752,400

Cap Rate 7%

$537,429

Cap Rate 9%

$418,000

Alternative Uses

Best Use

Flex RnD

$537.4K

$470.3K – $627.0K (±1% cap)

NOI $37,620 @ 7.0% cap · market cap 8.98%

Second Best

Retail

$535.4K

$468.5K – $624.6K (±1% cap)

NOI $37,476 @ 7.0% cap · market cap 8.94%

Theoretical Best

Office A

$962.8K

$842.5K – $1.12M (±1% cap)

NOI $67,398 @ 7.0% cap · market cap 16.09%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Flex space

Suggested Use

Top Pick Real Estate Agency Building Supply Auto Parts Store Hair Salon Plumbing Service Kitchen & Bath Showroom

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Single-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

152

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 28530, NC

6,771

Population

3,557

Households

1.9

Avg Household Size

43

Median Age

17%

College-Educated

90%

High-School Grad

74.0 sq mi

ZIP Area

92

Density / Sq Mi

$39,233

Median Household Income

$31,250

Median Earnings

$810

Median Rent

$122,900

Median Home Value

Market

Vacancy Rate% for Industrial in South region

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this flex space located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Flex space - The former tenant has vacated, leaving the building available for a new occupancy.

Where is this flex space located?

The property is located at 518 Queen St Grifton, NC.

What is the asking price?

The asking price for this property is $419,000.

What are key features of this property?

This property features: 4,423‑square‑foot flex property; Renovated in 2025; Former tenant has vacated