Flex Space with Conditioned
For Sale
$599,000
806 E Main Street, Havelock, NC 28532
Commercial Sale, Havelock, NC
Property Size5,500 SF
Lot Size0.47 Acres
Price / SF$108.91
Days on Market212
Property Features for 806 E Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
commercial
Parking
6
Subdivision
Godwin
Lot features
Level
Directions
Hwy 70 in Havelock
Standard status
Active
APN
6-064 -022-A
Size
5,500 SF
Lot size
0.47 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
22 Lolywood GDWN SUB
Tax Annual Amount
3845
Legal Description
22 Lolywood GDWN SUB
Utilities
Heating system
Oil, Heat Pump (Heating)
Cooling system
Heat Pump, Central Air
Water source
Public
Amenities
office/retail space
conditioned warehouse space
roll up doors
Building Details
Year built
1998
Number of units
1
Building materials
Metal Siding, Steel Frame
Roof type
Metal
Listing Agency:
RE/MAX Ocean Properties · RE/MAX International
(252) 222-3222
Listed By:
Meredith & Matt Team Johnson · License #210529
(252) 269-9177
Added: Feb 26
Changed: Sep 25
Last Checked: Sep 26 at 1:06AM
MLS# 100556836
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 5,500-square-foot flex property combines front-facing office and retail space with a conditioned warehouse. The metal-sided, steel-frame building was constructed in 1998 and has five large roll-up doors along its east side. Heating and cooling are provided by a heat pump and central air, with oil also listed as a heating source. Public water and city sewer serve the property.
The building occupies a 0.47-acre corner parcel in Havelock, near the intersection of Hwy 70 and Pineview. Cherry Point Marine Base is nearby. The site also includes parking and access points for vehicles.
The building occupies a 0.47-acre corner parcel in Havelock, near the intersection of Hwy 70 and Pineview. Cherry Point Marine Base is nearby. The site also includes parking and access points for vehicles.
Key Highlights
- 5,500‑square‑foot building on a 0.47‑acre parcel
- Front office and retail area with conditioned warehouse space
- Five large roll‑up doors on the east side
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
$43,335
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
7.23%
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%
$866,700
$866.7K
Cap Rate 7%
$619,071
$619.1K
Cap Rate 9%
$481,500
$481.5K
Market Conditions
NOI Build-Up for 5,500 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
$55.4K $10.08/SF
− Vacancy
−$4.5K −$0.81/SF
EGI
$51.0K $9.27/SF
− OpEx
−$7.6K −$1.39/SF
NOI
$43.3K $7.88/SF
Area
Craven County, NC
Vacancy
8.04%
Lease Rate
$10.08 /SF/Yr
Expense Ratio
15.00%
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%
$866,700
Cap Rate 7%
$619,071
Cap Rate 9%
$481,500
Alternative Uses
Best Use
Retail
$1.55M
$1.36M – $1.81M
NOI $108,668 @ 7.0% cap · market cap 18.14%
Second Best
Flex RnD
$869.8K
$761.1K – $1.01M
NOI $60,886 @ 7.0% cap · market cap 10.16%
Theoretical Best
Office A
$1.81M
$1.59M – $2.12M
NOI $126,933 @ 7.0% cap · market cap 21.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
14 ft
Clear height
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
341
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 28532, NC
20,340
Population
8,677
Households
2.3
Avg Household Size
33
Median Age
19%
College-Educated
93%
High-School Grad
165.4 sq mi
ZIP Area
123
Density / Sq Mi
$65,772
Median Household Income
$38,839
Median Earnings
$1,270
Median Rent
$193,200
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - A front office and retail area adjoins a climate-controlled warehouse with multiple roll-up doors.
Where is this flex space located?
The property is located at 806 E Main Street Havelock, NC.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: 5,500‑square‑foot building on a 0.47‑acre parcel; Front office and retail area with conditioned warehouse space; Five large roll‑up doors on the east side
