Flex Space with
For Sale
$337,000
714 Washington Street, Whiteville, NC 28472
Commercial Sale, Whiteville, NC
Property Size1,944 SF
Lot Size0.36 Acres
Price / SF$173.35
Days on Market94
Property Features for 714 Washington Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
B-3
Subdivision
Not In Subdivision
Directions
Take the 1st exit from roundabout onto N JK Powell Blvd (US-701-BYP S). Turn right onto Washington St (US-74-BR/US-76-BR) 714 Washington Street is on the right.
Standard status
Active
APN
0281.04-54-5251.000
Size
1,944 SF
Lot size
0.36 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
PIN: 0281.04-54-5251.000
Tax Annual Amount
1679
Legal Description
PIN: 0281.04-54-5251.000
Utilities
Heating system
Electric (Heating)
Water source
Public
Building Details
Year built
1965
Roof type
Metal
Listing Agency:
Coldwell Banker Sea Coast Advantage · Coldwell Banker Real Estate
(910) 799-3435
Listed By:
Holland H Speight · License #291327
(910) 444-8882
Added: Jul 3
Changed: Aug 24
Last Checked: Oct 4 at 11:06AM
MLS# 100586322
Copyright © 2026 Hive MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 5,802-square-foot commercial property includes 1,944 square feet of heated retail/showroom space, 3,178 square feet of warehouse area, and a 680-square-foot flex section. Built in 1965, the building has a metal roof, electric heat, public water, updated restrooms, refreshed plumbing and lighting, and new interior paint. A new metal roof was installed in 2025.
The B-3-zoned site contains approximately 0.36 acres with about 106 feet of road frontage on Washington Street. The property is near US Hwy 74/76 and minutes from downtown Whiteville. On-site parking is available.
The B-3-zoned site contains approximately 0.36 acres with about 106 feet of road frontage on Washington Street. The property is near US Hwy 74/76 and minutes from downtown Whiteville. On-site parking is available.
Key Highlights
- 5,802+/- SF total building area with retail, warehouse, and flex components
- 1,944 SF of heated retail/showroom space
- 3,178 SF warehouse area plus a 680 SF flex section
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
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
801
Businesses Nearby
Under-served
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in South region
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Frequently Asked Questions
What type of property is this?
Flex space - Versatile commercial building combining customer-facing space, warehouse capacity, and a flexible work area.
Where is this flex space located?
The property is located at 714 Washington Street 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: 5,802+/- SF total building area with retail, warehouse, and flex components; 1,944 SF of heated retail/showroom space; 3,178 SF warehouse area plus a 680 SF flex section
