Flex Space with
For Sale
$337,000
714 Washington St, Whiteville, NC 28472
B-3-zoned commercial property combines showroom, warehouse, and flex-area improvements with on-site parking.
Property Size1,944 SF
Price / SF$173.35
Days on Market42
Property Features for 714 Washington St
General Information
Standard status
Active
Size
1,944 SF
Zoning
B-3
Additional Details
Road Access
Yes
Warehouse Space
3,178 SF
Building Details
Year Built
1965
Year Renovated
2025
Listing Agency:
Coldwell Banker Sea Coast Advantage
(910) 444-8882
Listed By:
Holland H Speight · License #291327
Source:
Bradberrygarnerrealestate
Added: Jul 20
Changed: Aug 29
Last Checked: Aug 25 at 4:10AM
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 Coldwell Banker Sea Coast Advantage
Investment Insights
Based on property information with market context.
This flex property combines heated retail and showroom space with warehouse and additional flex-area improvements. The building includes updated restrooms, plumbing, lighting, and interior paint, along with a new metal roof completed in 2025. Originally built in 1965, the property offers a mixed commercial configuration suited to users needing both customer-facing and operational areas.
The site has approximately 106 feet of road frontage on Washington Street and is located near US Hwy 74/76, with downtown Whiteville a short drive away. On-site parking is available. The property is situated on a B-3-zoned site; lot size is based on the deed. Parking count and ADA compliance are subject to independent purchaser or tenant verification.
The site has approximately 106 feet of road frontage on Washington Street and is located near US Hwy 74/76, with downtown Whiteville a short drive away. On-site parking is available. The property is situated on a B-3-zoned site; lot size is based on the deed. Parking count and ADA compliance are subject to independent purchaser or tenant verification.
Key Highlights
- Flex configuration with heated retail/showroom, warehouse, and additional flex‑area space
- Approximately 106 feet of road frontage on Washington Street
- New metal roof completed in 2025
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
$23,466
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
6.96%
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%
$469,320
$469.3K
Cap Rate 7%
$335,229
$335.2K
Cap Rate 9%
$260,733
$260.7K
Market Conditions
NOI Build-Up for 1,944 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
$35.0K $18.00/SF
− Vacancy
−$1.5K −$0.76/SF
EGI
$33.5K $17.24/SF
− OpEx
−$10.1K −$5.17/SF
NOI
$23.5K $12.07/SF
Area
Columbus County, NC
Vacancy
4.20%
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%
$469,320
Cap Rate 7%
$335,229
Cap Rate 9%
$260,733
Alternative Uses
Best Use
Retail
$335.2K
$293.3K – $391.1K
NOI $23,466 @ 7.0% cap · market cap 6.96%
Second Best
Flex RnD
$322.0K
$281.7K – $375.6K
NOI $22,537 @ 7.0% cap · market cap 6.69%
Theoretical Best
Office A
$471.6K
$412.6K – $550.2K
NOI $33,010 @ 7.0% cap · market cap 9.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
346
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 28472, NC
17,308
Population
8,073
Households
2.1
Avg Household Size
44
Median Age
18%
College-Educated
91%
High-School Grad
197.9 sq mi
ZIP Area
87
Density / Sq Mi
$48,963
Median Household Income
$36,535
Median Earnings
$788
Median Rent
$141,000
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - B-3-zoned commercial property combines showroom, warehouse, and flex-area improvements with on-site parking.
Where is this flex space located?
The property is located at 714 Washington St Whiteville, NC.
What is the asking price?
The asking price for this property is $337,000.
What are key features of this property?
This property features: Flex configuration with heated retail/showroom, warehouse, and additional flex‑area space; Approximately 106 feet of road frontage on Washington Street; New metal roof completed in 2025
