1002 Spence Avenue

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1002 Spence Avenue

Goldsboro, NC 27534
Asking Price
$5.10M
Asset Type
Retail
Class
Class B

What's Special

Located at 1002 Spence Avenue, this retail property is situated within a primary commercial corridor in Goldsboro, North Carolina. Positioned near the intersection of East Ash Street and North Spence Avenue, the site benefits from proximity to established shopping centers and national retailers. The property is less than two miles from the US-70 bypass, facilitating regional transportation and local access. The surrounding neighborhood is characterized by a mix of service-oriented businesses, medical offices, and high-traffic dining establishments. The property's layout and visibility make it suitable for a variety of commercial applications, including specialty retail, satellite medical offices, or professional services. Given the commercial density of the area, typical tenants would include regional service providers or retail franchises seeking established traffic patterns. The location is well-positioned to serve both the local residential population and the daily workforce frequenting the Spence Avenue business district.

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NOI
$80,000
Cap Rate
1.57%
DSCR
0.26
Underwater
Cash-on-Cash
-14.56%
Monthly Payment
$25,232.017
Annual Cash Flow
$-222,784.208

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