Building Details

Year built 1984

Listing Agency: Kornegay Realty d***@kornegayrealty.com Show Phone

Listed By: David Kornegay · License #165118 Show Phone

Added: Feb 4 Changed: Aug 19 Last Checked: Aug 20 at 12:06AM

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MLS# 100552795

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.

This storefront commercial property includes 3,082 square feet on a 0.53-acre site. Built in 1984, the building has an upper level that expands the available interior space. Electric heating is installed, and the property includes on-site parking and signage.

The property is positioned within Mount Olive’s business district at 903 N Breazeale Avenue, with access from both Breazeale Avenue and Bert Martin Rd. C-2 zoning supports its commercial classification, while the site’s location and two-road access provide practical entry options for occupants and visitors.

Key Highlights

• 3,082‑square‑foot storefront property on a 0.53‑acre lot
• C‑2 zoning for commercial use
• On‑site parking and property signage

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

$37,824

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

6.36%

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%

$756,480 $756.5K

Cap Rate 7%

$540,343 $540.3K

Cap Rate 9%

$420,267 $420.3K

Market Conditions

NOI Build-Up for 3,082 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

$55.5K $18.00/SF

− Vacancy

−$1.4K −$0.47/SF

EGI

$54.0K $17.53/SF

− OpEx

−$16.2K −$5.26/SF

NOI

$37.8K $12.27/SF

Area

Wayne County, NC

Vacancy

2.60%

Lease Rate

$18.00 /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%

$756,480

Cap Rate 7%

$540,343

Cap Rate 9%

$420,267

Alternative Uses

Best Use

Retail

$540.3K

$472.8K – $630.4K (±1% cap)

NOI $37,824 @ 7.0% cap · market cap 6.36%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$2.48M

$2.17M – $2.89M (±1% cap)

NOI $173,448 @ 7.0% cap · market cap 29.15%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Storefront properties

Suggested Use

Top Pick Building Supply Real Estate Agency Electrical Service Storage Facility Kitchen & Bath Showroom Plumbing Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

417

Businesses Nearby

133k

Monthly Visits Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Dining 35% Shops & Services 32% Groceries 26% Home Improvements & Furnishings 4%

McDonald's Dining

29,965 visits/mo 0.5 miles

Food Lion Grocery Store Groceries

19,493 visits/mo 0.4 miles

Piggly Wiggly Groceries

15,054 visits/mo 0.1 miles

Burger King Dining

13,726 visits/mo 0.4 miles

Roses Discount Store Shops & Services

12,990 visits/mo 0.4 miles

Demographics for 28365, NC

14,653

Population

6,541

Households

2.2

Avg Household Size

40

Median Age

16%

College-Educated

80%

High-School Grad

191.4 sq mi

ZIP Area

77

Density / Sq Mi

$52,333

Median Household Income

$32,642

Median Earnings

$922

Median Rent

$119,000

Median Home Value

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

Questions? Ask Rey

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Frequently Asked Questions

What type of property is this?

Storefront property - C-2 commercial building with upper-level space, on-site parking, signage, and access from two roads.

Where is this storefront property located?

The property is located at 903 N Breazeale Avenue Mount Olive, NC.

What is the asking price?

The asking price for this property is $595,000.

What are key features of this property?

This property features: 3,082‑square‑foot storefront property on a 0.53‑acre lot; C‑2 zoning for commercial use; On‑site parking and property signage