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    2420 Emerald Pl Greenville, NC 27834
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    2420 Emerald Pl Greenville, NC 27834

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    • Medical Office Space
    • 0.39 lot acres
    For Sale
    $203,686
    View Listing →
    Medical Office Pad Sites For Sale
    $203,686
    16,988 SF

    Medical Office Pad Sites

    Foundation-ready medical office sites in Greenville's medical district.

    2420 Emerald Place, Greenville, NC 27834
    View Listing
    Property ID
    US53-1303910
    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

    • Medical Office Space

    Property Details for 2420 Emerald Pl

    Lot size
    0.39 lot acres
    Zone code
    MO
    Property type
    Medical Office Space
    Property subtype
    Medical centers
    APN
    65175
    APU
    65175

    Description

    This exceptional 0.39-acre lot, zoned MO, presents a unique investment opportunity in Greenville, NC's thriving medical district. Located at 2420 Emerald Place, this 16,988 square foot site is foundation-ready, boasting completed horizontal improvements included in the $203,686 asking price ($11.99/SF land value). All site work, utilities, parking, and storm drainage are complete, making it a truly "building-ready" site. The property's strategic location near ECU Health Hospital and surrounded by established medical practices like ECU Internal Medicine, Earp Dentistry, Carolina Women's Physicians, and East Carolina Pain Consultants, ensures high visibility and accessibility. The single-tenancy property is currently vacant, offering flexibility for immediate development or build-to-suit options. This is an unparalleled chance to establish a presence in a high-demand medical area. The property is situated in Pitt County, NC, zip code 27834.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Greenville
    County
    Pitt
    State
    North Carolina
    Longitude
    -77.4083
    Latitude
    35.6018
    CBSA code
    24780
    CBSA name
    GREENVILLE, 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
    $2,897
    $231,195
    $15,660
    $246,855
    -
    $231,195
    $15,660
    $246,855

    Comparable in this City

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      801 Wh Smith Blvd

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    • Value Estimation
      $720,000
      6,848 SF

      2425 Hemby Ln

      MEDICAL BUILDING • 6,848 SF
      2425 Hemby Ln, Greenville, NC 27834-3790
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    • Value Estimation
      $800,000
      9,832 SF

      8 Medical Dr

      MEDICAL BUILDING • 9,832 SF
      8 Medical Dr, Greenville, NC 27834
      View Details
    • Value Estimation
      $3,745,000
      36,480 SF

      2600 Arlington Blvd

      MEDICAL BUILDING • 36,480 SF
      2600 Arlington Blvd, Greenville, NC 27834-3795
      View Details
    • Value Estimation
      $1,155,000
      10,640 SF

      503 Bowman Gray Dr

      MEDICAL BUILDING • 10,640 SF
      503 Bowman Gray Dr, Greenville, NC 27834-7286
      View Details
    • Value Estimation by Request
      11.77 Acres

      Spg Frst Rd

      MEDICAL BUILDING • 11.77 Acres
      Spg Frst Rd, Greenville, NC 27834
      View Details

    Similar Nearby for Sale

    • $595,000
      Pending

      Medical District Land For Sale

      1.09 acre lot in medical district with high visibility.
      1840 W Arlington Blvd, Greenville, NC 27834
      View Details
    • $203,686
      16,988 SF

      Medical Office Pad Sites

      Foundation-ready medical office sites in Greenville's medical district.
      2420 Emerald Pl, Greenville, NC 27834
      View Details
    • $3,540,000
      17,700 SF

      Medical Office Building For Sale

      17,000 SF medical office building in Greenville, NC.
      511 Paladin Dr, Greenville, NC 27834
      View Details
    • Contact for pricing
      5,220 SF

      Medical Office Investment Opportunity

      Medical office near ECU Health Medical Center for sale.
      2140 W Arlington Blvd, Greenville, NC 27834
      View Details
    • $140,609

      Medical Office Pad Sites

      Foundation-ready medical office pad sites in established medical park.
      2448 Emerald Pl, Greenville, NC 27834
      View Details
    • $425,000
      1,625 SF

      Medical Office Condo For Sale

      Former dental office in Greenville's medical district.
      1025 Wh Smith Blvd, Greenville, NC 27834
      View Details

    Similar Nearby for Lease

    • $500 /Mo
      150 SF

      Move-in Ready Greenville Office Spaces

      Individual office spaces available for lease with all-inclusive amenities.
      404 St Andrews Dr, Greenville, NC 27834
      View Details
    • Contact for pricing
      2,860 SF

      Medical Office Suite For Rent

      1,755 SF medical office suite in a desirable location.
      1011 Wh Smith Blvd, Greenville, NC 27834
      View Details
    • $1,500 /Mo
      1,250 SF

      Office Space in Medical District

      Office space for lease in Greenville's Medical District.
      835 Johns Hopkins Dr, Greenville, NC 27834
      View Details
    • $18 SF/Yr
      10,146 SF

      Medical Office Space For Rent

      Medical office space in a major medical district.
      400 Spring Forest Rd, Greenville, NC 27834
      View Details
    • $2,850 /Mo
      1,510 SF

      Move-in Ready Office Space Available

      Office space for lease in Greenville, NC with all-inclusive amenities.
      404 St Andrews Dr, Greenville, NC 27834
      View Details
    • $15 SF/Yr
      4,711 SF

      Medical Office Near ECU Health

      Medical office space available across from ECU Health's Medical Center.
      2269 Stantonsburg Rd, Greenville, NC 27834
      View Details
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    Greenville, NC 27834
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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.

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