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    1002 N Spence Ave Goldsboro, NC 27534
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    Property profile & analytics

    1002 N Spence Ave Goldsboro, NC 27534

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    • Retail properties & Spaces
    • 120,754 SF
    • 8.32 lot acres
    For Sale
    View Listing →
    1002 N Spence Ave, Goldsboro, NC 27534 For Sale
    Contact for pricing
    120,487 SF

    1002 N Spence Ave, Goldsboro, NC 27534

    Retail properties & Spaces

    1002 N Spence Ave, Goldsboro, NC 27534
    View Listing
    Property ID
    US53-4707287
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Coinstar / Bank / Credit Union
    • Woodforest National Bank ATM / Atm
    • Walmart Bakery / Bakery / Specialty Food Shop
    • MoneyGram / Bank / Credit Union
    • Walmart Baby & Nursery Services / Social Service Agency / Community Center

    Property Details for 1002 N Spence Ave

    Year built
    1988
    Construction
    STEEL FRAME
    Lot size
    8.32 lot acres
    Property size
    120,754 SF
    Property type
    Retail properties & Spaces
    APN
    3519471491
    APU
    3519471491

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $2,825,000
      Current use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Goldsboro
    County
    Wayne
    State
    North Carolina
    Longitude
    -77.9455
    Latitude
    35.3869
    CBSA code
    24140
    CBSA name
    GOLDSBORO, NC METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $104,694
    $1,976,000
    $5,133,940
    $7,109,940
    -
    $1,976,000
    $5,133,940
    $7,109,940

    Comparable in this City

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      2,944 SF

      3001 Ash St

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 2,944 SF
      3001 Ash St, Goldsboro, NC 27534-4522
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    • Value Estimation by Request
      2,250 SF

      Old 111th Hwy

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 2,250 SF
      Old 111th Hwy, Goldsboro, NC 27534
      View Details
    • Value Estimation
      $2,775,000
      135,710 SF

      2900 Park Dr

      DEPARTMENT STORE • 135,710 SF
      2900 Park Dr, Goldsboro, NC 27534
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    • Value Estimation by Request
      34,895 SF

      Spence Ave

      Lifestyle centers • 34,895 SF
      0 Spence Ave, Goldsboro, NC 27534
      View Details
    • Value Estimation
      $750,000
      28,460 SF

      912 Landmark Dr

      DEPARTMENT STORE • 28,460 SF
      912 Landmark Dr, Goldsboro, NC 27534-7401
      View Details

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      5,635 SF

      Retail Redevelopment Site Near Airforce

      2.41 acre retail redevelopment site near SeymourJohnson Air Force Base.
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      Goldsboro Retail Plaza For Sale

      Two-tenant plaza with hair salon and redevelopment potential in Goldsboro.
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      154,733 SF

      Neighborhood Shopping Center For Sale

      154,733 SF shopping center with diverse national tenants.
      401 N Berkeley Blvd, Goldsboro, NC 27534
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      Pending

      Commercial Office Building on Corner

      Classic brick building with 22 office spaces and parking.
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      34,895 SF

      Goldsboro Retail Space For Sale

      34,895 SF retail space adjacent to Walmart Supercenter.
      N Spence Ave, Goldsboro, NC 27534
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    • Contact for pricing
      120,487 SF

      1002 N Spence Ave, Goldsboro, NC 27534

      Grocery and convenience stores • 120,487 SF
      1002 N Spence Ave, Goldsboro, NC 27534
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Space in Goldsboro, NC

      Located on a major commercial corridor near national retailers.
      2503 E Ash St, Goldsboro, NC 27534
      View Details
    • Contact for pricing

      Retail Space at High-Traffic Interchange

      Retail space with excellent visibility and easy access.
      900 N Spence Ave, Goldsboro, NC 27534
      View Details
    • $3,500 /Mo
      1,440 SF

      Medical Office Space For Lease

      Medical office space available for lease in Goldsboro, NC.
      1402 Wayne Memorial Dr, Goldsboro, NC 27534
      View Details
    • Contact for pricing

      Medical Office Space Available

      Medical office space for rent near UNC Health Wayne.
      2400 Wayne Memorial Dr, Goldsboro, NC 27534
      View Details
    • Contact for pricing

      All-Inclusive Goldsboro Coworking Space

      Coworking space with comprehensive amenities included in Goldsboro, NC.
      201 N Spence Ave, Goldsboro, NC 27534
      View Details
    • $3,500 /Mo
      2,096 SF

      Goldsboro Office Space For Rent

      Office space available for rent in Wayne Medical Pavilion.
      2400 Wayne Memorial Dr Unit, Goldsboro, NC 27534
      View Details
    View Listing
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    Goldsboro, NC 27534
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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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