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    2610 Dickinson Ave Greenville, NC 27834

    Sponsored
    For Lease
    $35 SF/Yr ($15,750 /Mo)

    Greenville, NC retail space available.

    Lot size:
    5,400 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    400
    The Shoppes at Arlington offers prime retail space in Greenville, NC's thriving medical district. This Class A property, totaling 5,400 square feet, is situated on one acre of land at 2610 Dickinson Ave, Greenville, NC 27834. The center boasts a strong tenant mix, including Dunkin' Donuts, US Cellular, Fresh Vibes, and a newly developed Royal Farms. Units range from 1,500 to 5,400 square feet, providing flexibility for various retail businesses. The property enjoys excellent visibility and accessibility, located at the signalized intersection of W Arlington Blvd (28,500 vehicles per day) and Dickinson Ave (15,500 vehicles per day). Its strategic location benefits from proximity to a high concentration of multifamily residential units and the expansive ECU Health Medical Campus, a Level 1 trauma center with 1,712 licensed beds, serving a population of 1,400,000 and employing 6,800 individuals. Further enhancing its appeal, the property is near East Carolina University (ECU), the third-largest university in North Carolina, with over 28,500 students and 5,600 employees. Greenville, the 10th largest city in North Carolina, boasts a metropolitan area exceeding 230,000 residents. The property is zoned MCG. This presents a unique opportunity to establish a business within a vibrant and rapidly growing community.

    Property Features for 2610 Dickinson Ave

    General Information

    Property type
    Retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    5,400 SF
    Class
    A
    Total Rate
    15750

    Building Details

    Buildings
    1

    Unit(s) available at that property

    Space
    Proposed 5400sf Space
    Size
    5,400 SF
    Rate per SF
    $35

    HighLights

    • Prime retail space in Greenville, NC's medical district.
    • Located near ECU Health Medical Center and Physicians East.
    • 10‑minute drive from East Carolina University.
    • High traffic corner lot at Arlington Blvd (28,500 VPD) and Dickinson Ave (15,500 VPD).
    • Proximity to multifamily residential units.
    Property Profile Location Intelligence

    Current Use by Public Records

    Margo Bitcoin ATM Atm Royal Farms Convenience Store

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Hair Salon Dental Office Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Greenville
    County
    Pitt
    State
    North Carolina
    Longitude
    -77.40382
    Latitude
    35.595401

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    FAQs

    What type of property is this?
    Retail property - Greenville, NC retail space available.
    Where is this retail property located?
    The property is located at 2610 Dickinson Ave Greenville, NC.
    What is the lease rate?
    The lease rate is $35 SF/Yr.
    What are key features of this property?
    This property features: Prime retail space in Greenville, NC's medical district.; Located near ECU Health Medical Center and Physicians East.; 10-minute drive from East Carolina University.
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    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.

    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
    2610 Dickinson Ave Greenville, NC 27834
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