Storefront Property with Upstairs
For Sale
$450,000
903 N Breazeale Avenue, Mount Olive, NC 28365
Commercial Sale, Mount Olive, NC
Property Size3,082 SF
Lot Size0.53 Acres
Price / SF$146.01
Days on Market225
Property Features for 903 N Breazeale Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C-2
Subdivision
Not In Subdivision
Directions
From Goldsboro take Hwy 117 S to Mount Olive, left on Hwy 55, right on Breazeale Ave., property on right
Standard status
Active
APN
2573913327
Size
3,082 SF
Lot size
0.53 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Tract 1 of DB1072,P89 Wayne County NC
Tax Annual Amount
3024
Legal Description
Tract 1 of DB1072,P89 Wayne County NC
Utilities
Heating system
Electric (Heating)
Building Details
Year built
1984
Listing Agency:
Kornegay Realty
(919) 658-8611
Listed By:
David Kornegay · License #165118
(919) 738-3982
Added: Feb 4
Changed: Sep 16
Last Checked: Sep 17 at 10:06AM
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 3,082-square-foot storefront property was built in 1984 and occupies a 0.53-acre site in Mount Olive’s business district. The building includes an upstairs area, while the property also provides on-site parking and signage. Electric heating serves the building, and C-2 zoning applies.
Access is available from both N Breazeale Avenue and Bert Martin Road. The property is positioned within the city’s established commercial district, with the storefront configuration and additional upstairs space offering a range of layout options for a retail-oriented user.
Access is available from both N Breazeale Avenue and Bert Martin Road. The property is positioned within the city’s established commercial district, with the storefront configuration and additional upstairs space offering a range of layout options for a retail-oriented user.
Key Highlights
- 3,082‑square‑foot storefront building on a 0.53‑acre lot
- C‑2 zoning in Mount Olive’s business district
- Upstairs area included in the building
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
8.41%
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
NOI $37,824 @ 7.0% cap · market cap 8.41%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.48M
$2.17M – $2.89M
NOI $173,448 @ 7.0% cap · market cap 38.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Similar Off Market Nearby
- Front Porch Florist & Gifts Inc — 1035 N Breazeale Ave, Mt Olive, NC 28365
Frequently Asked Questions
What type of property is this?
Storefront property - Commercial storefront with upstairs 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 $450,000.
What are key features of this property?
This property features: 3,082‑square‑foot storefront building on a 0.53‑acre lot; C‑2 zoning in Mount Olive’s business district; Upstairs area included in the building
