Updated Furnished Office
For Sale
$125,000
601 Country Club Drive Unit D, Greenville, NC 27834
Brick commercial condo with flexible workspace, private office, break room, and dedicated bathroom.
Property Size900 SF
Price / SF$138.89
Days on Market387
Property Features for 601 Country Club Drive Unit D
General Information
Standard status
Active
Size
900 SF
Total Parking Spaces
2
Property subtype
General Commercial
Occupancy
100%
Financials
Gross Income
$15,492
HOA Fee
$91.67
Additional Details
Furnished
Yes
Road Access
Yes
Amenities
Central Air, Electric, Heat Pump
3
Commercial
Private, Paved Driveway.
.02 Acres
Paved Road.
Building Details
Year Built
1993
Construction
brick
Tenancy
Single
Owner Occupied
No
Abandoned
No
Listing Agency:
(252) 327-2738
Listed By:
United Real Estate East Carolina
(252) 327-2738
Source:
Xome
Added: Aug 10, 2025
Changed: Aug 31
Last Checked: Aug 31 at 1:53AM
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 United Real Estate East Carolina
Investment Insights
Based on property information with market context.
This 900-square-foot brick office condo at 601 Country Club Drive, Unit D, offers a flexible commercial layout with an open workspace, one private executive office with built-in shelving, a break room, and a dedicated bathroom. The interior has been refreshed with LVP flooring, new paint, granite countertops, and recessed lighting. The unit is fully furnished and includes a partially floored attic for additional storage.
The property sits just off Memorial Drive near the Greenville Boulevard intersection, with reported average annual daily traffic of 22,322 on Memorial Drive and 32,707 near Greenville Boulevard. Two assigned parking spaces are included, along with access to shared parking. The HVAC was replaced 3 years ago, while the roof and parking lot were refinished within the last 5 years. Exterior maintenance is handled through the property owners' association, including landscaping, roof maintenance, annual power washing, and parking lot upkeep.
The property sits just off Memorial Drive near the Greenville Boulevard intersection, with reported average annual daily traffic of 22,322 on Memorial Drive and 32,707 near Greenville Boulevard. Two assigned parking spaces are included, along with access to shared parking. The HVAC was replaced 3 years ago, while the roof and parking lot were refinished within the last 5 years. Exterior maintenance is handled through the property owners' association, including landscaping, roof maintenance, annual power washing, and parking lot upkeep.
Key Highlights
- 900 SF brick office condo at 601 Country Club Drive Unit D
- Flexible open layout with private executive office, break room, and dedicated bathroom
- Fully furnished interior with LVP flooring, granite countertops, fresh paint, and recessed lighting
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
$9,690
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
7.75%
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%
$193,800
$193.8K
Cap Rate 7%
$138,429
$138.4K
Cap Rate 9%
$107,667
$107.7K
Market Conditions
NOI Build-Up for 900 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
$15.7K $17.40/SF
− Vacancy
−$2.7K −$3.05/SF
EGI
$12.9K $14.35/SF
− OpEx
−$3.2K −$3.59/SF
NOI
$9.7K $10.77/SF
Area
Pitt County, NC
Vacancy
17.50%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
25.00%
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%
$193,800
Cap Rate 7%
$138,429
Cap Rate 9%
$107,667
Alternative Uses
Best Use
Office B
$138.4K
$121.1K – $161.5K
NOI $9,690 @ 7.0% cap · market cap 7.75%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$195.9K
$171.4K – $228.6K
NOI $13,714 @ 7.0% cap · market cap 10.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
516
Businesses Nearby
Explore this area
Business Placement
Demographics for 27834, NC
55,051
Population
27,368
Households
2
Avg Household Size
34
Median Age
28%
College-Educated
88%
High-School Grad
174.3 sq mi
ZIP Area
316
Density / Sq Mi
$48,081
Median Household Income
$36,755
Median Earnings
$941
Median Rent
$161,700
Median Home Value
Market
Vacancy Rate% for Office 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?
Office units - Brick commercial condo with flexible workspace, private office, break room, and dedicated bathroom.
Where is this office units located?
The property is located at 601 Country Club Drive Unit D Greenville, NC.
What is the asking price?
The asking price for this property is $125,000.
What are key features of this property?
This property features: 900 SF brick office condo at 601 Country Club Drive Unit D; Flexible open layout with private executive office, break room, and dedicated bathroom; Fully furnished interior with LVP flooring, granite countertops, fresh paint, and recessed lighting
