Conventional Restaurant
For Sale
$449,000
620 N George St, Goldsboro, NC 27530
Restaurant building with associated land and an existing structure dating to 1965.
Property Size2,618 SF
Price / SF$171.50
Days on Market87
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Property Features for 620 N George St
General Information
Standard status
Active
Size
2,618 SF
Building Details
Year Built
1965
Listing Agency:
Berkshire Hathaway Home Services McMillen & Associates Realty
Listed By:
Crystal Love · License #328687
(919) 273-5571
Source:
Barefootbrokers
Added: Jul 21
Changed: Oct 6
Last Checked: Oct 7 at 1:04PM
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 Berkshire Hathaway Home Services McMillen & Associates Realty
Investment Insights
Based on property information with market context.
This conventional restaurant property includes a commercial building and associated land. The existing structure was built in 1965, providing an established physical foundation for restaurant use.
The property is located at 620 N George St in Goldsboro, North Carolina. The offering combines the building and land in a single commercial property.
The property is located at 620 N George St in Goldsboro, North Carolina. The offering combines the building and land in a single commercial property.
Key Highlights
- Conventional restaurant property with building and land
- Existing structure constructed in 1965
- Located at 620 N George St, Goldsboro, NC 27530
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,129
Cap Rate
7.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$642,580
$642.6K
Cap Rate 7%
$458,986
$459.0K
Cap Rate 9%
$356,989
$357.0K
Market Conditions
NOI Build-Up for 2,618 SF
Gross rent
$47.1K $18.00/SF
− Vacancy
−$1.2K −$0.47/SF
EGI
$45.9K $17.53/SF
− OpEx
−$13.8K −$5.26/SF
NOI
$32.1K $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 Rate 5%
$642,580
Cap Rate 7%
$458,986
Cap Rate 9%
$356,989
Alternative Uses
Best Use
Specialty Retail
$2.10M
$1.84M – $2.46M
NOI $147,335 @ 7.0% cap · market cap 32.81%
Second Best
Retail
$459.0K
$401.6K – $535.5K
NOI $32,129 @ 7.0% cap · market cap 7.16%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
594
Businesses Nearby
4k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Family Dollar
Shops & Services
3,622 visits/mo
0.2 miles
Demographics for 27530, NC
37,470
Population
17,796
Households
2.1
Avg Household Size
41
Median Age
22%
College-Educated
89%
High-School Grad
106.5 sq mi
ZIP Area
352
Density / Sq Mi
$55,507
Median Household Income
$37,696
Median Earnings
$827
Median Rent
$176,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Restaurant building with associated land and an existing structure dating to 1965.
Where is this conventional restaurant located?
The property is located at 620 N George St Goldsboro, NC.
What is the asking price?
The asking price for this property is $449,000.
What are key features of this property?
This property features: Conventional restaurant property with building and land; Existing structure constructed in 1965; Located at 620 N George St, Goldsboro, NC 27530
