Flex Space with Roll-Up
For Sale
$840,000
806 E Main Street, Havelock, NC 28532
COMMERCIAL - Havelock, NC
Property Size5,500 SF
Lot Size0.94 Acres
Price / SF$152.73
Days on Market174
Property Features for 806 E Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
commercial
Parking
16
Subdivision
Godwin
Lot features
Level, Corner Lot, Split Possible
Directions
Hwy 70 in Havelock
Standard status
Active
APN
6-064 -022-A
Size
5,500 SF
Lot size
0.94 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
Building Details
Year built
1998
Number of units
1
Building materials
Aluminum 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: Aug 19
Last Checked: Aug 19 at 11:06PM
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, built in 1998, combines front-facing office and retail areas with a conditioned warehouse. The warehouse includes five large roll-up doors, approximately 14 feet of ceiling height at the center, and a metal roof supported by a steel frame. Heating and cooling are provided by heat pumps, with additional oil heating and central air listed among the building systems.
The property is positioned at the corner of Hwy 70 and Pineview in Havelock, with city water, city sewer, public water service, and on-site parking. Multiple entry and exit points support movement around the site. The property also offers close access to Cherry Point Marine Base and is zoned commercial.
The property is positioned at the corner of Hwy 70 and Pineview in Havelock, with city water, city sewer, public water service, and on-site parking. Multiple entry and exit points support movement around the site. The property also offers close access to Cherry Point Marine Base and is zoned commercial.
Key Highlights
- 5,500 SF flex building with office, retail, and warehouse areas
- Five large roll‑up doors serve the warehouse
- Approximately 14' center ceiling height
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
$60,886
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
7.25%
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%
$1,217,720
$1.2M
Cap Rate 7%
$869,800
$869.8K
Cap Rate 9%
$676,511
$676.5K
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
$110.9K $20.16/SF
− Vacancy
−$17.2K −$3.13/SF
EGI
$93.7K $17.03/SF
− OpEx
−$32.8K −$5.96/SF
NOI
$60.9K $11.07/SF
Area
Craven County, NC
Vacancy
15.52%
Lease Rate
$20.16 /SF/Yr
Expense Ratio
35.00%
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%
$1,217,720
Cap Rate 7%
$869,800
Cap Rate 9%
$676,511
Alternative Uses
Best Use
Flex RnD
$869.8K
$761.1K – $1.01M
NOI $60,886 @ 7.0% cap · market cap 7.25%
Second Best
Warehouse
$619.1K
$541.7K – $722.3K
NOI $43,335 @ 7.0% cap · market cap 5.16%
Theoretical Best
Office A
$1.81M
$1.59M – $2.12M
NOI $126,933 @ 7.0% cap · market cap 15.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
14 ft
Clear height
Yes
Highway access
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
Market
Vacancy Rate% for Industrial 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?
Flex space - Commercially zoned facility combining customer-facing areas with conditioned warehouse capacity and flexible vehicle circulation.
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 $840,000.
What are key features of this property?
This property features: 5,500 SF flex building with office, retail, and warehouse areas; Five large roll‑up doors serve the warehouse; Approximately 14' center ceiling height
