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    808 Vernon Ave Kinston, NC 28501

    • Office Properties & Spaces
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Home Life Care / Home Health Care Service

    Property Details for 808 Vernon Ave

    Property type
    Office Properties & Spaces

    Description

    This exceptional executive office suite, totaling 1,500 square feet, presents a fantastic opportunity in Kinston, North Carolina. Located at 808 W Vernon Ave, in Lenoir County, zip code 28501, this property offers a single, readily available space perfect for a growing business or established firm seeking a prestigious location. The suite is part of a multi-tenant building, providing a collaborative yet independent work environment. While the total building square footage is not currently specified, the available 1,500 square feet provides ample room for various office configurations. The property's address is easily accessible, offering convenient access to local amenities and transportation routes. This executive office space is ideal for businesses seeking a professional and efficient workspace in a thriving North Carolina community. The location in Kinston offers a blend of small-town charm and convenient access to larger urban centers. This is a prime opportunity to establish a strong business presence in a desirable location. Serious inquiries are encouraged to explore this exceptional office space further. The property is ready for immediate occupancy. Contact us today to schedule a viewing and discuss your business needs.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Kinston
    County
    Lenoir
    State
    North Carolina
    Longitude
    -77.5914
    Latitude
    35.2695

    Comparable in this City

    • Value Estimation by Request
      26,500 SF

      327 Queen St

      Office space • 26,500 SF
      327 Queen St, Kinston, NC 28501
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    • Value Estimation by Request
      26,500 SF

      327 Queen St

      Office Properties & Spaces • 26,500 SF
      327 Queen St, Kinston, NC 28501
      View Details
    • Value Estimation by Request
      2,100 SF

      207 Queen St

      OFFICE BUILDING • 2,100 SF
      207 Queen St, Kinston, NC 28501-4935
      View Details
    • Value Estimation
      $565,000
      7,140 SF

      2559 Queen St

      OFFICE BUILDING • 7,140 SF
      2559 Queen St, Kinston, NC 28501-1632
      View Details
    • Value Estimation by Request
      1,460 SF

      201 Rhodes Ave

      OFFICE BUILDING • 1,460 SF
      201 Rhodes Ave, Kinston, NC 28501-3819
      View Details
    • Value Estimation by Request
      968 SF

      202 Vernon Ave

      OFFICE BUILDING • 968 SF
      202 Vernon Ave, Kinston, NC 28501-4453
      View Details

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    808 Vernon Ave
    Kinston, NC 28501
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    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
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