Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Greenville NC Industrial Complex For Sale Title is generated by Realmo AI

    829 W Star St, Greenville, NC 27834

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Industrial, flex, office, and warehouse complex in Greenville, NC.

    Type:Industrial
    Property size:
    11,464 SF
    Price / SF:
    $146/SF
    Added:
    Mar 25, 2024
    Days on Market:
    788
    Last Refresh:
    Mar 17 at 1:15 pm

    Property Features for 829 W Star St

    General Information

    Standard status
    Active
    Size
    11,464 SF
    Property subtype
    Industrial

    Building Details

    Year Built
    1995

    We can help!

    Listing Contact
    Tim Ferruzzi

    Listing agent Tim Ferruzzi License #NC 89665

    Listing office Keller Williams Realty Points East

    Listing date Mar 25, 2024

    Source Crexi

    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 Keller Williams Realty Points East

    HighLights

    • Two‑lot complex offering flexibility for industrial, flex, office, or warehouse use.
    • Located in West Star Commercial Park, a thriving economic center in Pitt County/Greenville.
    • Conveniently situated off Alternate US Hwy 264 and 1 mile from NC Hwy 11 Bypass/Beltline.
    • Abundant land and industrial parks in the area offer companies lower‑cost alternatives.
    • Built in 1995.
    • Owner/Agent is a North Carolina Licensed Broker.

    Overview

    This complex, located in West Star Commercial Park off Alternate US Hwy 264 in Greenville, North Carolina, features industrial, flex, office, and warehouse spaces. Situated one mile from NC Hwy 11 Bypass/Beltline in Pitt County, the property benefits from its location in a thriving economic center and one of the fastest-growing regions in the state. The complex comprises two lots identified by Pitt County Parcel IDs 50066 and 50067. The property contains 11,464 square feet of space. The location offers companies lower-cost alternatives and room for growth.

    Financial Insights

    Value Estimation Calculated for Office B

    Conservative
    $1.37M
    NOI $123,424 @ 9.00% cap · cautious / downside scenario
    Moderate
    $1.76M
    NOI $123,424 @ 7.00% cap · market / base-case scenario
    Aggressive
    $2.47M
    NOI $123,424 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    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.
         Calculated for Office B

    Component $ $/SF
    Gross rent $199.5k $17.40
    − Vacancy −$34.9k −$3.05
    EGI $164.6k $14.35
    − OpEx −$41.1k −$3.59
    NOI $123.4k $10.77
    11,464 SF · lease $17.40/SF/yr · vacancy 17.50% · expense 25.00%

    Alternative Use Scenarios

    Best Use
    Office B
    $1.76M
    $1.54M – $2.06M (±1% cap)
    NOI $123,424 @ 7.0% cap · market cap 7.32%
    Second Best
    Flex RnD
    $1.39M
    $1.22M – $1.63M (±1% cap)
    NOI $97,506 @ 7.0% cap · market cap 5.79%
    Theoretical Best
    Office A
    $2.50M
    $2.18M – $2.91M (±1% cap)
    NOI $174,689 @ 7.0% cap · market cap 10.37%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Highland Residential & Commercial ... Roofing Company Greenville Seamless Gutters Hardware & Home Improvement Handy Helpers Inc. Hardware & Home Improvement

    Suggested Use

    Real Estate Agency Law Firm Spa & Massage Center Building Supply Big Box & Wholesale Store Auto Repair Shop Auto Parts Store Department Store Kitchen & Bath Showroom Food Market

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

    Location Insight

    • Map
    • Local Demand
    City
    Greenville
    County
    Pitt
    State
    North Carolina
    Longitude
    -77.4399222
    Latitude
    35.5684181

    Nearby Similar for Sale

    • $650,000
      2,950 SF

      Greenville Commercial Property For Sale

      Fully occupied commercial property in Greenville, North Carolina with rental upside.
      125 Oakmont Dr, Greenville, NC 27858
      View Details
    • $325,000
      2,600 SF

      Uptown Greenville Commercial Building

      Commercial building in the heart of Uptown Greenville, North Carolina.
      811 Dickinson Avenue, Greenville, NC 27834
      View Details
    • $900,000

      Farm and Hunting Land Opportunity

      180+ acre farm with hunting potential near Greenville, NC.
      Conetoe Road, Greenville, NC 27834
      View Details
    • $185,500
      2,371 SF

      Versatile Duplex with Studio Apartment

      Duplex with separate studio, ideal for owner-occupant or investor.
      1400 Chestnut Street, Greenville, NC 27834
      View Details
    • $350,000
      1,185 SF

      Greenville Duplex For Sale

      Duplex in Greenville, NC with month-to-month tenants.
      520 Lake Road, Greenville, NC 27834
      View Details
    • $270,000
      1,444 SF

      Duplex Near East Carolina University

      Duplex near East Carolina University and downtown Greenville.
      700 Johnston Street, Greenville, NC 27858
      View Details
    • $115,000
      910 SF

      Renovated Duplex: Investment Opportunity

      Fully renovated duplex with strong income potential in Greenville, NC.
      1911 Mcclellan Street, Greenville, NC 27834
      View Details
    • $120,000
      3,504 SF

      Greenville Multifamily Property For Sale

      Multifamily property with excellent rental history in Greenville, NC.
      303 Paris Avenue, Greenville, NC 27834
      View Details
    • $209,900
      1,602 SF

      Versatile Investment Property Near University

      Multifamily property near East Carolina University with flexible investment options.
      2801 Jefferson Drive, Greenville, NC 27858
      View Details
    • $1,699,000

      Mixed-Use Development Opportunity, Greenville

      Proposed mixed-use development near East Carolina University.
      4640 E 10th Street, Greenville, NC 27858
      View Details
    • $449,000

      Greenville Triplex on Corner Lot

      Triplex in Greenville, NC, with commercial development potential.
      1301 Dickinson Avenue, Greenville, NC 27834
      View Details
    • Sponsored
      $1,495,000
      16,000 SF

      Greenville Flex Industrial Space

      Unique industrial flex space for sale, ready for immediate occupancy.
      829 Star St, Greenville, NC 27834
      View Details

    FAQs

    What type of property is this?
    Flex space - Industrial, flex, office, and warehouse complex in Greenville, NC.
    Where is this flex space located?
    The property is located at 829 W Star St Greenville, NC.
    What is the asking price?
    The asking price for this property is $1,685,000.
    What are key features of this property?
    This property features: Two‑lot complex offering flexibility for industrial, flex, office, or warehouse use.; Located in West Star Commercial Park, a thriving economic center in Pitt County/Greenville.; Conveniently situated off Alternate US Hwy 264 and 1 mile from NC Hwy 11 Bypass/Beltline.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Tim Ferruzzi
    Real Estate License ID: NC 89665
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    829 W Star St, Greenville, NC 27834
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!