Renovated Conventional
For Sale
$625,000
115 Main Street N, Faith, NC 28041
Commercial Sale, Faith, NC
Property Size3,597 SF
Lot Size0.22 Acres
Price / SF$173.76
Days on Market60
Property Features for 115 Main Street N
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
B-2
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1
Security features
Security System
Patio and Porch features
Porch
Accessibility
Accessible Approach with Ramp
Lot features
Corner Lot
Directions
I-85 N to exit 68. Turn right and stay on Hwy 152 E. TL onto Fiath Rd. Stay straight until you come to Main st/ downtown Faith. The property will be on your left, the corner building.
Standard status
Active
APN
413 112
Lot size
0.22 Acres
Taxes and HOA fees
Tax Description
.06 AC and .15AC
Legal Description
.06 AC and .15AC
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Central Air
Building Details
Year built
1939
Flooring type
Wood
Roof type
Metal
Listing Agency:
RE/MAX Leading Edge · RE/MAX International
(704) 786-7860
Listed By:
Karen Courtney · License #7043
(704) 791-5694
Added: Jun 29
Changed: Aug 26
Last Checked: Aug 27 at 11:06PM
MLS# 4398239
Copyright © 2026 Canopy MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located at 115 Main Street N in Faith, North Carolina, this restaurant property occupies approximately 3,597 square feet and was built in 1939. The interior includes wood flooring, a dining room with tables, chairs, and custom booths, an entry vestibule, two renovated bathrooms, and a front porch adapted for outdoor bar seating. Kitchen improvements include prep and steam tables, sandwich coolers, fryers, ovens, grills, warming equipment, freezers, refrigeration, storage racks, a floor mixer, dough separator, and proofer.
The property also features a smokehouse constructed in 2025 with a Southern Pride smoker, warming cabinet, and 8X11 walk-in cooler. Additional updates include plumbing, electrical service, lighting, a security system, tankless gas water heating, gas HVAC, and a new ceiling in the prep room and dish pit. Public and street parking are nearby, with public sewer and cable availability.
The property also features a smokehouse constructed in 2025 with a Southern Pride smoker, warming cabinet, and 8X11 walk-in cooler. Additional updates include plumbing, electrical service, lighting, a security system, tankless gas water heating, gas HVAC, and a new ceiling in the prep room and dish pit. Public and street parking are nearby, with public sewer and cable availability.
Key Highlights
- Approximately 3597 sqft restaurant property on Main Street N in Faith, NC
- Smokehouse built in 2025 with Southern Pride smoker, warming cabinet, and 8X11 walk‑in cooler
- Kitchen includes prep and steam tables, fryers, ovens, grills, coolers, freezers, and warming equipment
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$21,912
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.51%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$438,240
$438.2K
Cap Rate 7%
$313,029
$313.0K
Cap Rate 9%
$243,467
$243.5K
Market Conditions
NOI Build-Up for 3,597 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$34.1K $9.48/SF
− Vacancy
−$2.8K −$0.78/SF
EGI
$31.3K $8.70/SF
− OpEx
−$9.4K −$2.61/SF
NOI
$21.9K $6.09/SF
Area
Rowan County, NC
Vacancy
8.20%
Lease Rate
$9.48 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$438,240
Cap Rate 7%
$313,029
Cap Rate 9%
$243,467
Alternative Uses
Best Use
Industrial
$313.0K
$273.9K – $365.2K
NOI $21,912 @ 7.0% cap · market cap 3.51%
Second Best
Specialty Retail
$296.5K
$259.5K – $346.0K
NOI $20,758 @ 7.0% cap · market cap 3.32%
Theoretical Best
Office A
$1.13M
$990.6K – $1.32M
NOI $79,249 @ 7.0% cap · market cap 12.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
64
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 28041, NC
30
Population
4
Households
7.5
Avg Household Size
27
Median Age
100%
High-School Grad
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Restaurant property with updated dining, kitchen, utility, and restroom improvements in Faith, North Carolina.
Where is this conventional restaurant located?
The property is located at 115 Main Street N Faith, NC.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Approximately 3597 sqft restaurant property on Main Street N in Faith, NC; Smokehouse built in 2025 with Southern Pride smoker, warming cabinet, and 8X11 walk‑in cooler; Kitchen includes prep and steam tables, fryers, ovens, grills, coolers, freezers, and warming equipment
