Shell-Condition Storefront
For Sale
$325,000
811 Dickinson Ave, Greenville, NC 27834
Existing shell condition gives buyers flexibility to shape the interior for a commercial use.
Property Size2,600 SF
Price / SF$125
Days on Market17
Property Features for 811 Dickinson Ave
General Information
Standard status
Active
Size
2,600 SF
Property subtype
Business Opportunity
Building Details
Year Built
1922
Buildings
1
Listing Agency:
Keller Williams Realty Points East
(252) 341-1723
Listed By:
Shannon Hodges · License #219088
Source:
Ibxcoastalliving
Added: Aug 14
Changed: Aug 29
Last Checked: Aug 29 at 2:00PM
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 Keller Williams Realty Points East
Investment Insights
Based on property information with market context.
This 2,600-square-foot storefront building dates to 1922 and is offered in shell condition, allowing the next owner to plan the interior around a future commercial concept. The sale includes only 811 Dickinson, with the seller completing a parcel subdivision before closing. Private parking is not included.
The property sits on Dickinson Avenue in Uptown Greenville, within an active district surrounded by downtown businesses, dining, offices, and entertainment. East Carolina University is only minutes away, placing the building within the broader Uptown setting described in the property information.
The property sits on Dickinson Avenue in Uptown Greenville, within an active district surrounded by downtown businesses, dining, offices, and entertainment. East Carolina University is only minutes away, placing the building within the broader Uptown setting described in the property information.
Key Highlights
- 2,600 SF storefront building
- Built in 1922
- Shell condition provides a blank interior configuration
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
$22,030
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
6.78%
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%
$440,600
$440.6K
Cap Rate 7%
$314,714
$314.7K
Cap Rate 9%
$244,778
$244.8K
Market Conditions
NOI Build-Up for 2,600 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
$34.3K $13.20/SF
− Vacancy
−$2.8K −$1.10/SF
EGI
$31.5K $12.10/SF
− OpEx
−$9.4K −$3.63/SF
NOI
$22.0K $8.47/SF
Area
Pitt County, NC
Vacancy
8.30%
Lease Rate
$13.20 /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%
$440,600
Cap Rate 7%
$314,714
Cap Rate 9%
$244,778
Alternative Uses
Best Use
Retail
$314.7K
$275.4K – $367.2K
NOI $22,030 @ 7.0% cap · market cap 6.78%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$566.0K
$495.2K – $660.3K
NOI $39,619 @ 7.0% cap · market cap 12.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,510
Businesses Nearby
126k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 88%
Shops & Services 12%
McDonald's
Dining
32,112 visits/mo
0.3 miles
Krispy Kreme Doughnuts
Dining
26,588 visits/mo
0.3 miles
Starbucks
Dining
20,034 visits/mo
0.2 miles
Taco Bell
Dining
18,366 visits/mo
0.1 miles
FedEx Office Print & Ship Center
Shops & Services
7,678 visits/mo
0.4 miles
Demographics for 27834, NC
55,051
Population
27,368
Households
2
Avg Household Size
34
Median Age
28%
College-Educated
88%
High-School Grad
174.3 sq mi
ZIP Area
316
Density / Sq Mi
$48,081
Median Household Income
$36,755
Median Earnings
$941
Median Rent
$161,700
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Storefront property - Existing shell condition gives buyers flexibility to shape the interior for a commercial use.
Where is this storefront property located?
The property is located at 811 Dickinson Ave Greenville, NC.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: 2,600 SF storefront building; Built in 1922; Shell condition provides a blank interior configuration
