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    2300 Herritage St Kinston, NC 28501

    For Sale
    $450,000

    Traditional Office, 3600 SF, 7.08% Cap Rate

    Property size:
    3,600 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    368
    This exceptional investment opportunity presents a three-unit traditional office complex located at 2300 N Heritage St, Kinston, NC 28501. The property boasts a total of 3,600 square feet, currently operating at 66% occupancy. Priced at $450,000, this Class C building offers a compelling net operating income (NOI) of $31,849, translating to an attractive 7.08% capitalization rate. The asking price of $125 per square foot reflects the strong potential for future growth and return on investment. Strategically situated near a high-traffic intersection in Kinston, this property benefits from excellent visibility and accessibility. Two of the three units are currently leased, providing immediate cash flow and a solid foundation for a new owner. The property's traditional office layout offers versatility and adaptability to a range of tenants. This is an ideal opportunity for investors seeking a stable, income-generating asset in a desirable location with significant upside potential. The property's strong NOI and prime location make it a compelling investment opportunity in the Kinston market. Further details are available upon request.

    Property Features for 2300 Herritage St

    General Information

    Property type
    Office Properties & Spaces
    Square Feet
    3,600 SF
    Class
    C

    HighLights

    • Three‑unit office complex totaling 3,600 square feet in Kinston, NC.
    • Currently 66% occupied, generating a $31,849 NOI.
    • Priced at $450,000, representing a 7.08% cap rate and $125/SF.
    • Excellent visibility and accessibility due to high‑traffic intersection location.
    • Two units currently leased, providing immediate cash flow.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Primary Health Choice ... Mental Health Service

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Kinston
    County
    Lenoir
    State
    North Carolina
    Longitude
    -77.5895897
    Latitude
    35.2841641

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    FAQs

    What type of property is this?
    Office Property / Space - Traditional Office, 3600 SF, 7.08% Cap Rate
    Where is this office property / space located?
    The property is located at 2300 Herritage St Kinston, NC.
    What is the asking price?
    The asking price for this property is $450,000.
    What are key features of this property?
    This property features: Three-unit office complex totaling 3,600 square feet in Kinston, NC.; Currently 66% occupied, generating a $31,849 NOI.; Priced at $450,000, representing a 7.08% cap rate and $125/SF.
    (252) 560-9470
    Request Owner's contact information
    2300 Herritage St Kinston, NC 28501
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    Kinston, NC 28501
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    Realmo Value Estimation

    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.

    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
    2300 Herritage St Kinston, NC 28501
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