Shell-Condition
For Sale
$325,000
811 Dickinson Avenue, Greenville, NC 27834
Commercial Sale, Greenville, NC
Property Size2,600 SF
Lot Size0.08 Acres
Price / SF$125
Days on Market187
Property Features for 811 Dickinson Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
CDF
Directions
From US-264, take the Greenville exit onto Stantonsburg Road toward downtown. Continue straight as Stantonsburg Road becomes Dickinson Avenue. Follow Dickinson Avenue for approximately 1 mile. 811 Dickinson Ave will be located on your right, just before the intersection with Memorial Drive.
Standard status
Active
APN
003719
Size
2,600 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
807-813 DICKINSON AVE 77.
Tax Annual Amount
2650
Legal Description
807-813 DICKINSON AVE 77.
Building Details
Year built
1922
Listing Agency:
Keller Williams Realty Points East
(252) 355-6000
Listed By:
Shannon Hodges · License #219088
(252) 341-1723
Added: Feb 20
Changed: Aug 19
Last Checked: Aug 26 at 7:06AM
MLS# 100555785
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.
The offering includes a 2,600-square-foot commercial storefront at 811 Dickinson Avenue. Built in 1922, the building is currently in shell condition and provides an unfinished interior for a future commercial buildout. The property is zoned CDF and occupies approximately 0.08 acres.
The building sits within Uptown Greenville, surrounded by downtown businesses, dining, offices, and entertainment venues. East Carolina University is located minutes away. The seller is completing a subdivision of the parcel before closing, and the sale includes only the 811 Dickinson building. Private parking is not available.
The building sits within Uptown Greenville, surrounded by downtown businesses, dining, offices, and entertainment venues. East Carolina University is located minutes away. The seller is completing a subdivision of the parcel before closing, and the sale includes only the 811 Dickinson building. Private parking is not available.
Key Highlights
- 2,600‑square‑foot commercial storefront
- Shell condition supports a buyer‑directed interior buildout
- CDF zoning
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
Property Profile
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 - The building is delivered in shell condition, allowing a buyer to plan the interior buildout.
Where is this storefront property located?
The property is located at 811 Dickinson Avenue 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‑square‑foot commercial storefront; Shell condition supports a buyer‑directed interior buildout; CDF zoning
