Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    109 Ormond Ave Goldsboro, NC 27530

    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Prime location, renovated potential, high ROI.

    Property size:
    14,542 SF

    Property Features for 109 Ormond Ave

    General Information

    Property type
    Multifamily properties
    Square Feet
    14,542 SF
    Class
    B
    Lot Size
    7,405 SF

    Building Details

    Year Built
    1940
    Stories
    2

    We can help!

    Listing Contact
    Bob Logan
    Bob Logan

    Listing Agency: Wayne Realty Listing Agent: Bob Logan

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    This exceptional mixed-use property, located at 109 S Ormond Ave in Goldsboro, North Carolina, presents a compelling investment opportunity. The 14,542 square foot building, constructed in 1940, sits on a 0.17-acre lot and is zoned CBDH. Currently classified as a Class B property, it offers a unique blend of apartment and executive office space, making it ideal for a variety of uses. The building is conveniently situated across from the Wayne County Courthouse, ensuring high visibility and accessibility. The interior has been completely cleared and prepared for renovations, simplifying the redevelopment process. Architect conceptual plans are readily available to assist with future development. While the square footage listed does not include the basement area, this adds further potential for expansion or additional space. The property is a two-story building, however, the elevator requires repairs. The asking price is $375,000, translating to a price per square foot of $25.79. The property's prime location, coupled with its renovation-ready state and significant potential for high returns, makes this an attractive investment prospect. The Wayne County APN is 2599954433.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Probation Department Probation Office Community Service Social Service Agency

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Goldsboro
    County
    Wayne
    State
    North Carolina
    Longitude
    -77.9953216
    Latitude
    35.3818897

    Nearby Similar for Sale

    • New
      $314,900
      1,584 SF

      Goldsboro Office Space For Sale

      Office space in a convenient location, suitable for various uses.
      308 N Taylor St, Goldsboro, NC 27530
      View Details
    • $870,000
      1,429 SF

      Established Business in Retail Corridor

      Commercial property with mini putt putt and arcade business.
      2940 U.S Us Highway 70 W, Goldsboro, NC 27530
      View Details
    • $425,000
      2,370 SF

      Goldsboro Retail Plaza For Sale

      Two-tenant plaza with hair salon and redevelopment potential in Goldsboro.
      698 E New Hope Rd, Goldsboro, NC 27534
      View Details
    • New
      $349,000
      2,232 SF

      Goldsboro Duplex with Fenced Yard

      Income property in Goldsboro with upgrades and fenced yard.
      2800 Ridgecrest Dr, Goldsboro, NC 27534
      View Details
    • New
      $755,000
      1,208 SF

      Goldsboro 6-Unit Apartment Complex

      Six-unit apartment complex in Goldsboro, NC with income upside.
      1400 Clingman St, Goldsboro, NC 27534
      View Details
    • $990,000
      6,537 SF

      Goldsboro Retail Building For Sale

      Retail building on a 1.18-acre lot in Goldsboro, NC.
      1406 W Gramtham St, Goldsboro, NC 27530
      View Details
    • $239,900
      1,206 SF

      Goldsboro Duplex Unit For Sale

      Income-producing duplex unit built in 2021 on 0.37 acres.
      106 Drake Village Dr, Goldsboro, NC 27530
      View Details
    • New
      $55,000
      3.97 Acres

      Goldsboro Flex Warehouse Opportunity

      Flex warehouse or manufacturing/industrial operations with easy highway access.
      Wayne Ave, Goldsboro, NC 27530
      View Details
    • $1,100,000
      11,455 SF

      Goldsboro Mixed-Use Investment Opportunity

      Recently renovated mixed-use property in downtown Goldsboro with income potential.
      205-207 E Walnut St, Goldsboro, NC 27530
      View Details
    • $650,000
      30,492 SF

      Goldsboro Multifamily Investment Opportunity

      Ten-unit multifamily package in Goldsboro, NC, ideal for investors.
      900 S Hopkins St, Goldsboro, NC 27530
      View Details
    • $1,200,000
      11,325 SF

      Goldsboro Corner Property with Drive-Thru

      11,325 SF corner property on a busy commercial corridor.
      806 E Ash St, Goldsboro, NC 27530
      View Details
    • $750,000

      Industrial Flex Property Goldsboro, NC

      Versatile industrial flex property with office and warehouse space.
      855 Nc 111 Hwy, Goldsboro, NC 27534
      View Details

    FAQs

    What type of property is this?
    Multifamily property - Prime location, renovated potential, high ROI.
    Where is this multifamily property located?
    The property is located at 109 Ormond Ave Goldsboro, NC.
    What is the asking price?
    The asking price for this property is $375,000.
    What are key features of this property?
    This property features: $375,000 asking price.; 14,542 square foot mixed-use building.; $25.79 price per square foot.
    (919) 735-1876 Call to check price and availability
    Request Owner's contact information
    109 Ormond Ave Goldsboro, NC 27530
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    109 Ormond Ave
    Goldsboro, NC 27530
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    109 Ormond Ave Goldsboro, NC 27530
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Bob Logan
    Bob Logan
    Real Estate License ID: 72422
    (919) 735-1876 (919) 920-1494
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!