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1505 E Ash St 2,182 SF Vacant Office Building Goldsboro, NC 27530 $289,500 ($132.68/SF) 4% Cap Rate
Investment Highlights
- Large Reception area
- Full bathroom and 1/2 bath upstairs
- 9 Spacious offices, 6 offices 1st floor / 3 offices 2nd floor
Executive Summary
This brick, attractive, great location commercial -business property is being offered at $289,500 AS-IS. The building was built in 1922 and has a certain charm that is rare to find and has been well maintained. The office features 9 private offices and a huge reception area. Each office can be rented out individually or one company can utilize the whole facility.There's also a potential for expansion in the future should the vacant lot next door become available. The possibilities are endless. The building does have all new water pipe/lines (city hook-up) that have been replaced by the current owner already. On-site parking in front and rear of the property.
Financial Summary (Pro Forma - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$97,200
|
$44.55
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$1,800
|
$0.82
|
| Effective Gross Income |
$95,400
|
$43.72
|
| Taxes |
$2,241
|
$1.03
|
| Operating Expenses |
$9,000
|
$4.12
|
| Total Expenses |
$11,241
|
$5.15
|
| Net Operating Income |
$84,159
|
$38.57
|
Financial Summary (Pro Forma - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $97,200 |
| Annual Per SF | $44.55 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $1,800 |
| Annual Per SF | $0.82 |
| Effective Gross Income | |
|---|---|
| Annual | $95,400 |
| Annual Per SF | $43.72 |
| Taxes | |
|---|---|
| Annual | $2,241 |
| Annual Per SF | $1.03 |
| Operating Expenses | |
|---|---|
| Annual | $9,000 |
| Annual Per SF | $4.12 |
| Total Expenses | |
|---|---|
| Annual | $11,241 |
| Annual Per SF | $5.15 |
| Net Operating Income | |
|---|---|
| Annual | $84,159 |
| Annual Per SF | $38.57 |
Property Facts
Sale Type
Investment or Owner User
Sale Condition
Bulk/Portfolio Sale
Property Type
Building Size
2,182 SF
Building Class
C
Year Built
1946
Price
$289,500
Price Per SF
$132.68
Cap Rate
4%
NOI
$11,580
Percent Leased
Vacant
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
1,091 SF
Building FAR
0.21
Lot Size
0.24 AC
Opportunity Zone
Yes
Zoning
O&I - Permitted uses are professional offices or business offices, institutional uses and other non-retail office-type uses. I.E. Lawyer, real estate, etc.
Parking
9 Spaces (6 Spaces per 1,000 SF Leased)
Amenities
- Reception
- Air Conditioning
1 1
Fairly walkable
50/100
Exceptionally drivable
100/100
Somewhat bikeable
30/100
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Presented by
1st Choice Associates, LLC
1505 E Ash St
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