Building Details

Year Built 1987

Buildings 1

Building Size 3,118 SF

Listing Agency: Kornegay Realty

Listed By: David Kornegay · License #165118 Show Phone

Source: Barefootbrokers

Added: Jul 23 Changed: Sep 13 Last Checked: Oct 7 at 5:10PM

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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.

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 / Yr

$18,964

Cap Rate

3.79%

Suggested Prices Based on Cap Rates

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

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 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 (±1% cap)

NOI $66,349 @ 7.0% cap · market cap 13.27%

Second Best

Office B

$270.9K

$237.1K – $316.1K (±1% cap)

NOI $18,964 @ 7.0% cap · market cap 3.79%

Theoretical Best

Specialty Retail

$1.17M

$1.02M – $1.37M (±1% cap)

NOI $81,940 @ 7.0% cap · market cap 16.39%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Flex space

Suggested Use

Top Pick Real Estate Agency Building Supply 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

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

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this flex space located? What is the asking price? Find similar properties What are key features of this property?

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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