Property profile

3156 Dr New Bern, NC 28562

OFF-MARKET
Land
5.2 ac lot
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Property summary

AI-generated overview

This exceptional 5.2-acre commercial land parcel presents a unique investment opportunity in New Bern, North Carolina. Strategically located at 3156 Dr. Mlk Jr. Blvd, this property boasts unparalleled visibility from Highway 70, a major thoroughfare slated for future I-42 expansion, ensuring high traffic volume and significant exposure for any business. The property is conveniently adjacent to the Twin Rivers Mall (former K-Mart location), providing immediate proximity to existing retail and consumer traffic. Zoned C-3, this versatile land allows for a wide range of commercial uses, including office, retail, and even residential developments, subject to local regulations. There are no restrictions on the type of business that can be established, offering considerable flexibility to prospective buyers. While on-site water retention is a requirement, this presents an opportunity for creative landscaping and site design. The property's size and location make it ideal for various ventures, such as recreational facilities, medical offices, car or boat sales dealerships, or public service buildings. This is a rare chance to acquire a substantial commercial tract in a thriving area with excellent access and high visibility. The property's address is 3156 Dr. Mlk Jr. Blvd, New Bern, NC 28562, in Craven County.

Property profile

Verified
Property type Land
Lot 5.2 ac (226,512 SF)

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

3156 Dr New Bern, NC 28562
New Bern metro
Google Maps

Value estimations

Realmo proprietary · 4 methods
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Owner & transaction history

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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