Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    504 Spence Ave Goldsboro, NC 27534-4203

    • Strip malls
    • 8,600 SF
    • 0.61 lot acres
    OFF-MARKET
    Value Estimations
    $205,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-4030733
    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.

    Current Use by Public Records

    • Goldsboro Insurance Market, Inc. / Insurance Agency
    • SolFit / Personal Trainer
    • Exclusively You Personal Training / Personal Trainer
    • Open House Goldsboro Nc $100 K And Below / Real Estate Agency

    Property Details for 504 Spence Ave

    Year built
    1987
    Construction
    STEEL FRAME
    Lot size
    0.61 lot acres
    Property size
    8,600 SF
    Zone code
    GB
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    3519337951
    APU
    3519337951

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $240,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $170,000
      Market price range: $149k - $246k

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $185,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Goldsboro
    County
    Wayne
    State
    North Carolina
    Longitude
    -77.9474
    Latitude
    35.3773
    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
    $8,984
    $340,550
    $269,570
    $610,120
    -
    $340,550
    $269,570
    $610,120

    Comparable in this City

    • Value Estimation
      $220,000
      11,286 SF

      Berkeley Blvd

      SHOPPING CENTER, STRIP CENTER • 11,286 SF
      Berkeley Blvd, Goldsboro, NC 27534
      View Details
    • Value Estimation
      $255,000
      13,590 SF

      1216 Pkwy Dr

      SHOPPING CENTER, STRIP CENTER • 13,590 SF
      1216 Pkwy Dr, Goldsboro, NC 27534-9434
      View Details
    • Value Estimation
      $210,000
      0.92 Acres

      111 Nc Hwy

      SHOPPING CENTER, STRIP CENTER • 0.92 Acres
      111 Nc Hwy, Goldsboro, NC 27534
      View Details
    • Value Estimation
      $140,000
      6,240 SF

      3415 Ash St

      SHOPPING CENTER, STRIP CENTER • 6,240 SF
      3415 Ash St, Goldsboro, NC 27534-4490
      View Details
    • Value Estimation
      $195,000
      2,932 SF

      1814 Berkeley Blvd

      SHOPPING CENTER, STRIP CENTER • 2,932 SF
      1814 Berkeley Blvd, Goldsboro, NC 27534-3308
      View Details
    • Value Estimation
      $170,000
      2,880 SF

      1202 Wayne Memorial Dr

      SHOPPING CENTER, STRIP CENTER • 2,880 SF
      1202 Wayne Memorial Dr, Goldsboro, NC 27534-2279
      View Details

    Similar Nearby for Sale

    • $5,300,000
      120,754 SF

      1002 Spence Ave

      Lifestyle centers • 120,754 SF
      1002 Spence Ave, Goldsboro, NC 27534
      View Details
    • $8,500,000
      34,895 SF

      Pinewood Square Shopping Center

      14-Tenant Net Lease Shopping Center
      0 Spence Ave, Goldsboro, NC 27534
      View Details
    • $425,000
      2,370 SF

      Goldsboro Retail Plaza For Sale

      Two-tenant plaza with hair salon and redevelopment potential in Goldsboro.
      698 E New Hope Rd, Goldsboro, NC 27534
      View Details
    • $2,500,000
      5,635 SF

      Goldsboro Mixed-Use Investment Opportunity

      Prime retail storefront, redevelopment potential.
      2600 Ash St, Goldsboro, NC 27534
      View Details
    • $449,000
      0.60 Acres

      Goldsboro Redevelopment Site For Sale

      0.60-acre redevelopment site with retail potential near Food Lion.
      549 E New Hope Rd, Goldsboro, NC 27534
      View Details
    • Contact for pricing
      0.78 Acres

      Goldsboro Retail Land Investment

      Prime Goldsboro location, redevelopment opportunity.
      310 Berkeley Blvd, Goldsboro, NC 27534
      View Details

    Similar Nearby for Lease

    • $24 SF/Yr
      5,355 SF

      Goldsboro Retail Space Available

      High-visibility retail space in prime location.
      900 Spence Ave, Goldsboro, NC 27534
      View Details
    • Contact for pricing

      Retail Space in Goldsboro, NC

      Located on a major commercial corridor near national retailers.
      Goldsboro, NC 27534
      View Details
    • $240 SF/Yr
      2,096 SF

      Prime Medical Office Suite B

      Single-tenant medical office, 2,096 sq ft.
      2400 Wayne Memorial Dr, Goldsboro, NC 27534
      View Details
    • $3,500 /Mo
      2,096 SF

      Wayne Medical Pavilion Office Space

      Office space for lease in Wayne Medical Pavilion, Goldsboro, NC.
      2400 Wayne Memorial Dr Unit, Goldsboro, NC 27534
      View Details
    • $7,500 /Mo
      5,000 SF

      Medical Office Space For Lease

      Medical office space available near UNC Health Wayne.
      2709 Medical Office Pl, Goldsboro, NC 27534
      View Details
    • $62 SF/Yr
      20,503 SF

      Goldsboro Creative Office Space

      Modern renovated office suites available.
      201 Spence Ave, Goldsboro, NC 27534
      View Details
    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.
    504 Spence Ave
    Goldsboro, NC 27534-4203
    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

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.