Flex Building with Three
For Sale
$500,000
906 N Breazeale Ave, Mount Olive, NC 28365
The layout combines reception, offices, restrooms, and rear-accessible roll-up bays.
Property Size3,118 SF
Lot Size0.82 Acres
Price / SF$343.41
Days on Market38
Property Features for 906 N Breazeale Ave
General Information
Standard status
Active
Size
3,118 SF
Lot size
0.82 Acres
Warehouse & Industrial
Office Build-Out
1,456 SF
Drive-In Doors
3
Additional Details
Road Access
Yes
Building Details
Year Built
1987
Buildings
1
Building Size
3,118 SF
Listing Agency:
Kornegay Realty
(919) 738-3982
Listed By:
David Kornegay · License #165118
Source:
Barefootbrokers
Added: Jul 23
Changed: Aug 28
Last Checked: Aug 29 at 11:44AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Kornegay Realty
Investment Insights
Based on property information with market context.
This flex property combines 1,456 SF of finished interior space with 1,662 SF of bay area. The front portion includes a reception area, several offices, and 2 bathrooms, while the rear provides access to 3 bays equipped with roll-up garage doors. The building was constructed in 1987 and occupies a 0.82-acre lot with extensive concrete paving.
Positioned along four-lane Breazeale Ave in Mount Olive, the property receives exposure to approximately 11,500 cars per day. It was previously used as a car lot, and the existing office-and-bay configuration supports a range of potential uses.
Positioned along four-lane Breazeale Ave in Mount Olive, the property receives exposure to approximately 11,500 cars per day. It was previously used as a car lot, and the existing office-and-bay configuration supports a range of potential uses.
Key Highlights
- 1,456 SF of finished area plus 1,662 SF of bay area
- 3 rear‑accessible bays with roll‑up garage doors
- Reception area, several offices, and 2 bathrooms
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
$18,964
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
3.79%
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%
$379,280
$379.3K
Cap Rate 7%
$270,914
$270.9K
Cap Rate 9%
$210,711
$210.7K
Market Conditions
NOI Build-Up for 1,456 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
$31.4K $21.60/SF
− Vacancy
−$6.2K −$4.23/SF
EGI
$25.3K $17.37/SF
− OpEx
−$6.3K −$4.34/SF
NOI
$19.0K $13.02/SF
Area
Wayne County, NC
Vacancy
19.60%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
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%
$379,280
Cap Rate 7%
$270,914
Cap Rate 9%
$210,711
Alternative Uses
Best Use
Flex RnD
$947.8K
$829.4K – $1.11M
NOI $66,349 @ 7.0% cap · market cap 13.27%
Second Best
Office B
$270.9K
$237.1K – $316.1K
NOI $18,964 @ 7.0% cap · market cap 3.79%
Theoretical Best
Specialty Retail
$1.17M
$1.02M – $1.37M
NOI $81,940 @ 7.0% cap · market cap 16.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Drive-in doors
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
311
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
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 Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - The layout combines reception, offices, restrooms, and rear-accessible roll-up bays.
Where is this flex space located?
The property is located at 906 N Breazeale Ave Mount Olive, NC.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: 1,456 SF of finished area plus 1,662 SF of bay area; 3 rear‑accessible bays with roll‑up garage doors; Reception area, several offices, and 2 bathrooms
