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    110 Arlington Blvd Greenville, NC 27858

    Sponsored
    For Sale
    $980,000

    Prime Greenville NC Office, Net Lease

    Property size:
    9,800 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    400
    This exceptional investment opportunity presents a two-story, 9,800 square foot Class B office building located at 110 E Arlington Blvd, Greenville, NC 27858. Currently 50% occupied with twelve tenants in twenty-four units, this property offers significant upside potential. The building, constructed in 1988, sits on a 0.57-acre lot and includes 32 parking spaces, a crucial amenity in this desirable location. Zoned CG (General Commercial), the property boasts ample storage space and features a reception area, bathrooms, file rooms, and a copy room. The net rentable space totals 6,400 square feet. This multi-tenant, modified lease property is offered for sale at $980,000, representing a strong return on investment in a thriving Greenville, NC market, conveniently located near the Pitt County Courthouse, ECU, and ECU Medical Center. The property's strategic location and flexible layout make it ideal for a variety of uses. This is a rare opportunity to acquire a well-positioned commercial property in a high-demand area. The property's features include a convenient location, ample parking, and a flexible layout suitable for various business needs. The sale includes 100% ownership, and the property is not subject to a ground lease.

    Property Features for 110 Arlington Blvd

    General Information

    Property type
    Office Properties & Spaces
    Square Feet
    9,800 SF
    Class
    B
    Lot Size
    24,829 SF

    Building Details

    Year Built
    1988
    Buildings
    1
    Stories
    2
    Units
    24

    HighLights

    • $980,000 asking price for a Net Lease investment property.
    • 9,800 square foot office building with 6,400 square feet of net rentable space.
    • Multi‑tenant property with 12 of 24 units currently leased (50% occupancy).
    • Located at 110 E Arlington Blvd, Greenville, NC 27858, in a prime location near the Pitt County Courthouse, ECU, and ECU Medical Center.
    • Features 32 parking spaces and is zoned CG (General Commercial).
    • The two‑story, Class B building was constructed in 1988 and sits on a 0.57‑acre lot.
    Property Profile Location Intelligence

    Current Use by Public Records

    Renew Counseling and Support ... Mental Health Service W. S. Robinson, ... Certified Public Accountant Our Growers Inc.(OGI) Restaurant Buck Agency Insurance Agency Hardison & Cochran Law Firm

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Dental Office Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Greenville
    County
    Pitt
    State
    North Carolina
    Longitude
    -77.377017849723
    Latitude
    35.59022431245

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    FAQs

    What type of property is this?
    Office Property / Space - Prime Greenville NC Office, Net Lease
    Where is this office property / space located?
    The property is located at 110 Arlington Blvd Greenville, NC.
    What is the asking price?
    The asking price for this property is $980,000.
    What are key features of this property?
    This property features: $980,000 asking price for a Net Lease investment property.; 9,800 square foot office building with 6,400 square feet of net rentable space.; Multi-tenant property with 12 of 24 units currently leased (50% occupancy).
    (817) 559-3196
    Request Owner's contact information
    110 Arlington Blvd Greenville, NC 27858
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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
    110 Arlington Blvd Greenville, NC 27858
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